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Business loans

A business loan is a loan that is solely used for business purposes, whether that’s to start a business, purchase equipment, hire new staff or as a form of cash flow. Business loans in Australia are available from various lenders, including big banks, credit unions and online lenders. 

How does a business loan work? 

Business loans in Australia work similarly to any other loan available through lenders. Like an owner-occupied or an investment property loan, business loans come with an interest rate, fees and other loan features that can help with managing repayments, though there are some key differences, such as: 

  • Faster funding speed — Many lenders offer same-day or approval within 24 hours. 
  • Repayment options — Some lenders may require weekly, fortnightly, monthly or even daily repayments. 
  • Application requirements — Depending on the lender’s approval process, you may need to supply your business’s financial records, such as profits and projections. 

While prospective business loan borrowers are spoilt for choice once they start shopping around, finding the right option that suits your needs can be difficult — that’s where the professional team at Capta Financial come in. We take the time to get to know your goals and financial situation before sourcing the right business loan option. 

When should you take out a business loan

This will come down to the status of your business and your plans for the future. Many business owners typically choose to take out a business loan if they are looking to achieve the following:

  • Physically expanding their business or moving to a new location.
  • Purchasing new equipment or inventory. 
  • Hiring and training new employees.
  • To access new business opportunities.

What do you need to take out a business loan in Australia? 

Specific documentation needed during the application process will depend on your selected lender, though some of the more common pieces of information you may be asked to provide include: 

  • Your Australian Business Number (ABN) or Australian Company Number (ACN).
  • A drivers licence.
  • Financial data from your business, such as tax records or financial statements. 

Let the expert team at Capta Financial source the best business loan for you 

No matter the size of your financial goals, the team at Capta Financial are here to help your dreams become a reality. Whether you’re looking to purchase your first home, expand your investment portfolio or kickstart your new business, our range of services can support you every step of the way.

We ensure all our clients receive the best deal possible for their circumstances. If you would like to discuss your business loan options, contact us today.

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