BusinessFuel Review


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    $75,501
  • getcapital
    $73,635
  • banjo
    $71,090
  • ondeck
    $75,120
  • funda
    $74,250
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Small Business Lender Review - BusinessFuel

Overview

Business Fuel know the challenges for small business when it comes to securing finance. Their Managing Director has been lending to Australian businesses for more than 12 years, and they’ve funded more than $150 million worth of loans to Australian SMEs.

They provide business loans from $10,000 to $200,000 to help small and medium business owners across a range of industries.

They have a simple online application process, which means minimal documents and a prompt decision. And they have team of helpful and experienced Lending Managers who take the time to listen and tailor funding to meet your business needs.

Features

  • Borrow between $10,000 & $200,000 for any business purpose 
  • Borrow up to 100% of your average monthly sales 
  • Loan terms between 3 and 18 months 
  • Secured or unsecured business loans 
  • Funding available within 24 hours 
  • Direct access to the decision makers 
  • Redraw facility 

Summary

Name Business Fuel Business Loan
Min Loan Amount $10,000
Max. Loan Amount $200,000
Minimum Loan Term 3 months
Maximum Loan Term 18 months
Loan Security Secured or Unsecured
Interest Type Simple Interest
Repayments Weekly, Fortnightly or Monthly

Qualification criteria

Type CRITERIA
Minimum turnover $10,000 per month
Minimum trading period 6 months

Cost

Business Fuel offer a flat fee structure that you will pay off as part of your weekly, fortnightly or monthly repayments. The rate will be calculated at the start of your loan, using a simple interest rate

The rate will be based on a number of factors, including how much you need to borrow, how long you want to borrow for, and the nature and creditworthiness of your business.

You may also find you can borrow more, at a more favourable rate, if you are able to offer security.

There is also a small draw down fee which is based on the loan amount and there are no hidden fees and charges for Business Fuel business loans – no early termination penalties or account keeping fees.

How to apply

You can apply online for a Business Fuel business loan in just a few minutes. You’ll need to provide:

  • Information about your business
  • 6 months’ business bank statements
  • Your ABN or ACN

Once you begin the application process you will speak directly to the people who make the funding decisions. These Lending Managers can tailor your loan to suit your unique business needs.

How Does Business Fuel Compare?

Lender Product Term Loan Range Interest Type Fees Security Repayments
Business Fuel Business Lender Logo Business Fuel Business Loan 3 – 18 Months $10k – $200k Simple Interest Drawdown fee % of Loan Amount Secured or Unsecured Weekly, Fortnightly or Monthly
Prospa Business Lender Logo Prospa Business Loan 3 – 24 Months $5k – $300k Simple interest rate Establishment fee No asset required up to $100k Weekly or fortnightly
Spotcap Business Lender Logo Spot On Business Loan 1 – 24 Months $10k – $250k Percentage, but only on balance drawn Drawn on fee (% of credit limit) Unsecured Weekly, fortnightly or monthly
GetCapital Business Lender Logo GetCapital Flexible Business Loan 6 – 24 Months $5k – $500k Percentage 2% Draw down fee, plus $3.85 direct debt fee per week Unsecured Weekly
Businessloans Business Lender Logo Flexible Business Loan 6 – 24 Months $5k – $500k From 0.87% per month 2% Draw down fee, plus $3.85 direct debt fee per week Unsecured Weekly
Ondeck Business Lender Logo OnDeck Small Business Loan 6 – 24 Months $10k – $250k Percentage Establishment fee of 2.5% Unsecured Daily or weekly
Beyond Merchant Capital Business Lender Logo Beyond Merchant Capital Unsecured Business Loan 9 – 12 Months $10k – $500k Factor Rate None Unsecured Daily or weekly
Moula Business Lender Logo Moula Business Loan 6 – 12 Months $5k – $250k 0.75% to 2% per fortnight None Unsecured Fortnightly
MaxFunding Business Lender Logo Max Funding Business Loan 1 – 36 Months $2k – $1m From 1.5% per month Fees are laid out in loan agreement Secured or Unsecured Weekly or tailored

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