Best Unsecured Business Loan Rates - Compare 80+ Lenders
Get an unsecured business loan from $5,000 to $250,000+. Fund your business in as little as 3 hours without providing assets as collateral.
Our Current Best Rates for Unsecured Business Loans
From
11.45%
From
Rate on Application
From
15.50%
From
26.95%
How To Apply For An Unsecured Loan
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Fill out our quick online application, which takes about 2 minutes to complete.
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Our system reviews 80+ lenders and sends your application to the lender of best fit, increasing your chance of approval without affecting your credit score.
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A lender will likely call you within 5 minutes during business hours to finalise. You can be approved and funded in as little as 3 hours.
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Our smart technology and expert team save you time, protect your credit score, and find you a great deal on business finance.
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Comparing Unsecured Business Loan Rates
Compare competitive unsecured business loan rates from our panel of over 80 Australian lenders. Our database is constantly refreshed so you see the most current offers. Simply hit ‘Apply Now’ to check your eligibility and personalised rates.
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We remove guesswork by showing you the right options, helping your business get capital with confidence.
The True Cost of Unsecured Finance Isn't the Interest Rate
“While interest rates are important, the true cost of financing is often lost time. Every week spent chasing lenders and waiting on approvals is a week your business goes without the capital it needs. A smart financing strategy values speed, getting you funds quickly to maintain momentum and avoid costly stalls.”
Andrew Beckett, Head of Broker and Third Party Distribution
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Our promise: no credit score impact
A Guide To Unsecured Business Loans
Traditional bank loans can take four to eight weeks for an approval decision, which can mean a lost opportunity for most business owners. Unlike a traditional secured business loan that requires property, modern unsecured finance focuses on your business's cash flow. This guide is for Australian businesses that need to move faster.
Updated: 11/26/2025
The Unsecured Business Loan Market At A Glance
Unsecured business loans are a vital tool for Australia’s small business economy, designed for speed and flexibility. The following statistics from our platform provide a clear snapshot of how businesses are using this finance to access capital. Here are some key insights:
- Top Industries for Applications: Wholesale/Retail/Hospitality, Construction, and Transport Services.
- SME Loan Approval Rate with Bank Statements: Around 80% for direct applications.
- Bad Credit Success Rate: Approximately 1 in 3 applicants with certain paid defaults can still get approved with full documentation.
Eligibility for Unsecured Finance
Before you apply, it is important to understand the typical requirements. While banks often have a strict checklist, specialist lenders focus on a broader picture of business health. Below are the core eligibility criteria that most non-bank lenders look for.
- Active ABN & GST Registration: Your business needs an active Australian Business Number and must be registered for GST.
- Minimum Trading History: Your business has been operating for at least 6 to 12 months.
- Minimum Annual Turnover : You can show business revenue of at least $50,000 over the last 12 months.
- Australian-Based: At least one business director is a citizen or permanent resident operating in Australia.
- Your Business Credit History: You do not need a perfect credit score. It is possible to find solutions for owners with past credit blemishes, such as a paid default from a telco supplier.
How An Unsecured Business Loan Works
An unsecured business loan allows you to access funds based on your business's financial strength without needing to provide an asset like property as security. Unlike asset finance, it is a powerful form of short-term finance used to manage cash flow or fund growth quickly. Here are some typical features:
- Borrow from $5,000 to over $250,000
- Loan terms typically from 3 months to 5 years
- Weekly, fortnightly, or monthly repayments to suit your cash flow
- No deposit required for most loans
- Loan interest and fees may be tax deductible
The Personal Guarantee Explained
A personal guarantee from the director is a standard requirement for all business loans in Australia. This is a legal agreement where the director agrees to be personally responsible for the loan if the business fails to repay it. It is the core element that gives lenders the confidence to provide funding without requiring assets as collateral.
Real World Success Stories
From Rejection to Funded in Three Hours
Dean, a gym owner, needed $100,000 the same day to finalise some fitout and supplier costs. Another lender had turned him away due to him trading for under 2 years and not owning property. We were able to get him an approval for $100,000 within 3 hours and had the funds in his account that day. The product was a term loan over 18 months, which we’ll aim to refinance to a cheaper lender once he clears the 2-year trading mark.
Funding Growth When the Bank Says No
Shaun, a long-term business owner, had a couple of things working against him: no property backing and an ATO debt. He needed $250,000 to pay for suppliers. His long-term bank declined to assist until he cleared his ATO debt. We were able to secure Shaun $250,000 over 36 months and are working with him on a 2-year strategy to get him back to the banks.
A Flexible $750,000 Facility to Fuel Growth
Mark runs an IT infrastructure business. They required a $750,000 line of credit to support ongoing running costs and have a working capital buffer for new contracts starting in the next 4 weeks. We secured them a $750,000 unsecured line of credit over 36 months that allows them to draw down multiple times without having their application reassessed at every drawdown.
What Impacts Your Unsecured Loan Interest Rate
Your interest rate is a direct reflection of risk assessment. A stronger business profile will always secure more competitive interest rates. The following factors are key in a lender's assessment:
1
Your Trading History
A business operating for three or more years will often get a lower rate than a newer business.
2
Your Revenue Strength
Lenders typically look for a healthy ratio of monthly turnover to the loan amount requested.
3
Your Credit Score
Both your personal and business credit scores are critical. A clean credit file is a strong positive signal.
4
Homeownership Status
While your property is not used as security, being a homeowner is seen as a sign of stability and can often help you secure a lower interest rate. However, good business bank statement conduct is more important.
Understanding Common Unsecured Loan Fees
Beyond the interest rate, there are generally only two other potential fees to be aware of. A good finance specialist will ensure these are transparent from the start.
- Establishment Fee: A one-off fee charged to set up the loan. It typically ranges from $0 to $500 , or 2-6% of the loan amount for larger facilities. This fee is almost always added to the loan balance.
- Monthly Account Fee : Some, but not all, lenders charge a small monthly account fee, usually between $0 and $10 per month. When reviewing loan options, it is worth seeking out partners with minimal or no ongoing fees.
It is important to note that some specialist lenders offer the flexibility for early repayment without fees. This feature can save you thousands in interest and is a specific detail you should discuss with your finance expert.
Frequently Asked Questions
With a specialist lender in Australia, funding can be in your account in as little as 3 hours. This is because the lenders we work with often don’t require extensive documentation for amounts up to $300,000.
An initial enquiry via a broker or loan matching platform is a 'soft credit check', which has zero impact on your score. A 'hard enquiry' is only recorded when you submit a formal application.
Yes. Reputable Australian fintech companies use bank-level 256-bit encryption. Data security should be a high priority when choosing a finance provider.
No. For most business loans without security, the focus is on your trading history, verified by your bank statements. A formal business plan is not usually needed.
Three Ways To Get The Best Deal
1. Present 90 Days of Clean Business Bank Statements
This is the single most powerful action you can take. Our AI and assessment tools identify strong businesses by analysing bank statement data for markers that banks often overlook, such as consistent supplier payments and high customer repeat business.
2. Know What You Can Afford to Borrow
One of the biggest mistakes business owners make is not knowing what their business can afford. Our bank statement assessment tools help ascertain your creditworthiness and borrowing capacity upfront, significantly increasing your ability to get approved.
3. Protect Your Credit Score and Avoid Multiple Enquiries
Applying to different places one by one can damage your credit score, as each formal application leaves a 'hard enquiry' on your file. A better approach is to use a loan matching platform. We can assess your eligibility using a 'soft enquiry', which does not affect your score, before guiding you to the most suitable lender.
Business Loan Calculator & Finance Tools
Does A 'Personal Guarantee' Mean My House Is At Risk?
This is one of the most common questions business owners have. The short answer is no, a standard personal guarantee does not automatically put your family home on the line.
The key takeaway is that while a personal guarantee is a serious commitment, its function is to ensure the director is invested in the loan's success. It provides the security a lender needs without requiring you to pledge your property as collateral for an unsecured business loan.
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As a rule of thumb, lenders often approve an amount that is approximately a 1:1 ratio of your monthly turnover. This can vary by industry.
Providing secure, digital access to your bank statements is the main assessment tool for lenders and is critical for fast loan approval. Our data shows that applications with bank statements have an 80% approval rate on the first pass, compared to 15% without.
It is often possible to find a business loan with paid defaults from a telco or utility company. More serious issues like an ATO garnishee are much harder to fund. Working with our team is beneficial as we can help gather the required information around your situation.
The top uses that generate a strong return are:
- Purchasing stock or inventory to get a supplier discount.
- Refinancing more expensive debt.
- Covering upfront costs of a new contract.
- Paying an ATO tax bill
- Financing obscure equipment or deposits for larger purchases.
It is challenging, as most financiers require a minimum of 6-12 months of trading. However, if a director has extensive industry experience, some specialist firms may consider it.
Yes. Refinancing business debt, like a high-interest loan, is a smart use for a new unsecured business loan to consolidate debts into a single, lower repayment.
If you anticipate trouble making a repayment, contact the lender immediately. Most have hardship policies and are willing to work with you on a temporary solution.
What Happens After Your Loan Is Approved
Receiving your loan approval is an exciting moment. The final steps are simple and transparent, so you can access your capital quickly.
Once formal approval is provided, the loan contract will be issued electronically. This document is critical. It will confirm the final loan amount, interest rate, all fees, your repayment schedule, and the terms of the personal guarantee. It is strongly recommended you read it carefully.
After you have digitally signed and returned the contract, the final step is settlement. The lender performs their last checks and then transfers the funds directly into your business bank account. Often, the funds will arrive on the same day. Your unsecured loan is now active, and repayments will be automatically debited.
Andrew Beckett is a finance executive with extensive Fintech expertise. As Head of Broker and Third Party Distribution at Lend, he fostered key partnerships, including COG aggregation and CAFBA. With prior sales roles in various fintech and finance companies, Andrew has been instrumental in transforming Australia's financial market, shaping new lending practices in the commercial lending space.
Andrew Beckett, Head of Broker and Third Party Distribution
Phil Druce leads the company’s technology and operations. With 20 years of experience in technology businesses, Phil has consistently driven growth through strategic planning and execution. Since 2016, he has been dedicated to creating technology-driven products and services at Lend, optimising processes, and delivering outstanding client experiences.
Phil Druce, Chief Operations Officer
Why Australia Trusts Lend
Find Your Best Loan Match
Get a clear, data-driven look at your best loan options from over 80 partners. Enter your loan amount to see your match in seconds and find a suitable unsecured business loan for your needs.
Our promise: no credit score impact