Moula is a leading online lender for small businesses. It offers simple business loans with no hidden fees and flexible repayment terms to help manage cashflow. Moula uses advanced technology to assess business loan applications in minutes.
Moula at a glance
| Lender — Moula | Moula loan details |
|---|---|
| Moula loan details | Small business loans |
| Borrowing amounts | From $5,000 up to $250,000 |
| Loan terms | 12 – 24 months |
| Unsecured loans | Maximum of $250K |
| Interest rate | From 15.99% - 35.99% p.a. |
| Fees | 2% establishment fee |
| Security (if applicable) | Not applicable |
| Repayment schedule | Flexible |
| Early repayment | No penalty for early repayment |
| Approval time | Pre-approval within 24 hours |
Our verdict: Moula wins the game of transparency with clearly explained loan products and no bells and whistles. This lender doesn’t hide anything in the fine print — the upfront fee and annual percentage rate (APR) are clearly stated in the loan agreement. Rates are on par with other lenders in the market.
Who’s eligible for a Moula business loan?
Moula has flexible eligibility criteria compared to most lenders, including:
- Active ABN or ACN: You must operate a business registered in Australia
- Minimum monthly turnover: $5,000
- Minimum trading period: Six months
- Good credit score: Required
- Financial documents: Bank statements/online banking data or accounting data
How to apply for finance with Moula
Here’s how to apply for a business loan with Moula in three easy steps:
1. Complete the online form with your business information and how much you want to borrow, and provide some personal details.
2. Link your online banking or accounting data using the dedicated system. Your business credit check will be conducted at this stage.
3. Once your loan is approved, the funds are automatically transferred to your business bank account.
Moula comparison vs other business lenders
| Lender | Product | Terms | loan range | Interest rate | Fees | Security | Repayments |
|---|---|---|---|---|---|---|---|
| Business finance | 12 - 24 months | $5K – $250K | From 15.99% p.a. | 2% establishment fee | No security required up to $250K | Flexible |
 | Small business loans | 3 - 36 months | $5K – $500K | From 9.99% - 26.50% p.a. | Establishment fee | No security required up to $150K | Flexible |
 | Business loans | 12 - 60 months | $2K – $1m | From 13.95% p.a. | 3% establishment fee | No security required up to $500K | Weekly or monthly |
 | Small business loans | 1 - 36 months | $2K – $1m | From 1.50% per month | No fees | No security required up to $30K | Flexible |
| Business finance | 3 - 36 months | $10K – $500K | From 14% p.a. | Upfront fee | Secured | Weekly |
 | Small business loans | 3 - 36 months | $5K – $500K | Percentage rate determined on application | 2.5% - 3.5% establishment fee | Unsecured up to $300K | Weekly or monthly |
| Business loans | 6 - 36 months | $10K – $500K | Percentage rate determined on application | Upfront flat fee & drawdown fee structure | Unsecured up to $200K | Weekly or monthly |
