Moula Business Loans Review
Get a personalised quote on Moula business loan interest rates and compare them to other small business lenders.
$50000
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Moula is a leading online lender for small businesses. It offers a simple single unsecured business loan option, with no hidden fees and flexible repayment terms to help manage cashflow. Moula uses advanced technology to assess business loan applications in minutes.
Moula business finance at a glance
Moula loan details | |
|---|---|
Finance options | Small business loans |
Borrowing amounts | From $10,000 up to $250,000 |
Loan terms | 12 – 36 months |
Unsecured loans | Maximum of $250K |
Interest rate | From 15.99% - 35.99% p.a. |
Fees | Establishment fee up to 4% |
Security (if applicable) | None |
Repayment schedule | Fortnightly |
Early repayment | No penalty for early repayment |
Approval time | Pre-approval within 24 hours |
What are the interest rates on Moula business loans?
The interest rates on Moula business loans range from 15.99% p.a. to 35.99% p.a. Moula calculates each applicant’s rate based on their credit score, the age and size of the business seeking finance, and other factors.
Moula’s rates may seem high, but for unsecured business finance, these are fairly standard. While some banks may offer lower rates, many businesses are willing to pay a premium to work with an online lender that offers fast and easy finance — without the hassle of a clunky bank application process.
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: $10,000
- 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 in three easy steps
Moula comparison vs other business lenders
Lender | Product | Terms | Loan range | Interest rates | Fees | Security |
|---|---|---|---|---|---|---|
Moula | Business finance | 12 - 36 months | $10K – $250K | From 15.99% p.a. | Up to 4% establishment fee | No security required up to $250K |
Prospa | Small business loans | 3 - 60 months | $5K – $500K | Quoted on application | 3-3.5% establishment fee | No security required up to $150K |
OnDeck | Small business loans | 6 – 24 months | $10K – $250K | Determined on application | 3% (of loan amount) establishment fee & 2% fee for loan renewals | Unsecured up to $250K |
Shift | Business loans | 12 - 60 months | $2K – $1m | From 13.95% p.a. | 3% establishment fee | No security required up to $500K |
Business Fuel | Business loans | 6 - 36 months | $10K – $500K | Percentage rate determined on application | Upfront flat fee & drawdown fee structure | Unsecured up to $200K |
Shift | Business loans and credit lines | 12 - 72 months | Up to $1m | From 13.95% p.a. | 3% establishment fee | No security required up to $200K |
Max Funding | Small business loans | 1 - 60 months | $3K – $1m | From 1.25% per month | No fees | No security required up to $500K |
Spotcap | Business finance | 3 - 36 months | $10K – $500K | Quoted on application | Upfront fee | Secured |
Lumi | Small business loans | 3 - 36 months | $10K – $750K | Quoted on application | 2.5% - 3.5% establishment fee | Unsecured up to $300K |