A balloon is a lump sum payment at the end of your finance term. While it seems daunting, it lowers your regular repayments, which can significantly improve monthly cash flow. For example, repayments might be $800 per month with a balloon versus $1,000 without one. That extra $200 in monthly cash flow can be crucial for a business's operational needs, allowing it to comfortably afford a new asset without financial strain.

A secured facility is backed by an asset, like property. This lowers the lender's risk, resulting in a lower interest rate for you. An unsecured product is based on your business's cash flow and does not require property as security, making it faster to obtain but typically comes with a higher interest rate.

A shorter term (e.g., 1-2 years) means higher regular repayments but less interest paid overall. A longer term (e.g., 5-7 years) reduces your regular repayments, making them more manageable, but you will pay more in total interest over the life of the finance. The right choice depends on balancing your monthly cash flow needs with the long-term cost.

For most small business funding, the primary document required is your recent business bank statements (typically the last 6 months). This allows lenders to verify your business revenue and cash flow. For larger or more complex commercial finance, you might also be asked for financial statements like a Profit & Loss statement and Balance Sheet.

Yes, it is possible. While traditional banking may be hesitant, many specialist lenders offer bad credit finance options. They focus more on your recent business cash flow and credit history than a perfect score. For clients with a paid default on their file, we have an approval rate of approximately 70%, provided the rest of their business profile is strong. Working with a finance broker can be particularly effective here, as they can identify specialist lenders who are open to these scenarios.

Absolutely. Reputable lenders and brokers use bank-grade security and robust data encryption to protect your personal and financial information. Your privacy is a priority, and your information should never be used without your explicit permission.

Securing new business finance or startup funding can be challenging, as most lenders require a proven trading history. However, some specialist startup lenders may consider applications from new ventures. Our approval rate for businesses trading between 6 months and 2 years is 75%, demonstrating that strong performance matters more than longevity. We recommend reading our detailed guide on business loans for startups.

An interest rate (Annual Percentage Rate) is the annual percentage cost of the facility. A factor rate is a decimal (e.g., 1.2) multiplied by the principal amount to get the total repayment. Factor rates are common on very short-term options. The specialist you speak with will always explain the total cost to you in clear dollar terms.

A good rule of thumb that lenders often use for unsecured funding is a ratio of 1 to 1.5 times your average monthly turnover. For example, if your business consistently turns over $40,000 a month, a lender may consider you for funding between $40,000 and $60,000 to support your business growth.

This is a very common situation, as 35% of our approved unsecured loans go to directors who are not homeowners. For these applications, lenders focus entirely on the health of the business. The most important factors are consistent revenue, good daily bank account conduct, a clean credit file, and ensuring your Australian Taxation Office obligations are up to date.

As accredited finance brokers, we operate under a Best Interest Duty, a legal obligation to act in your best interests when providing credit assistance. Our service is free to you because the chosen lender pays us a commission. This means our success is tied to yours. We are motivated to find the most suitable solutions from our panel of over 80 trusted lenders, not to push a specific product. This model ensures our goals are aligned with your need to secure the right finance for your business.