Business Loans

Here’s what you need to get a business loan:

• An ABN or ACN
• Been in business for at least 6 months
• At least $5,000 in monthly sales
• GST registration

There may be some additional requirements in certain circumstances. These requirements ensure that we are only ever providing loans to people who can pay them back and ensure that we aren’t putting anyone in a difficult position.

There are no hidden fees or hassles with Geared. Depending on the product you choose and your particular circumstances we will outline a loan schedule that clearly details the repayment plan and the timing of the payments. Easy!

There may be several stages in a business’s development when a loan is necessary. Businesses that are just starting out often need to borrow money in order to acquire their initial equipment or to finance their premises. A couple of years after opening, most businesses desire to expand or move to a larger facility. Businesses that engage in seasonal activities or those that undertake long-term projects with staged payments may find that it is advantageous to smooth out their cash flow if their costs remain relatively constant over the course of the year. Additionally, businesses may require assistance in order to weather a difficult trading period.

It is important to note that each business is unique and the trading circumstances and history of the company will influence whether financing is required. In the event you decide to seek either a long-term or a short-term loan, Geared Finance will be able to assist you in finding the best deal for your particular circumstances.

Secured loans are loans secured by an asset such as a vehicle, equipment, or property. The asset will be subject to a formal charge, restriction, or other security document, which may affect your ability to deal freely with the asset – for example, you might not be able to sell the asset without the lender’s prior consent. In the event that a loan payment is not made, the lender may be able to recoup the amount that is owed directly by enforcing its security against the asset.

An unsecured loan does not require any assets as security. Lenders typically base their funding decision on an assessment of the creditworthiness of your business and the affordability of your monthly payments. Depending on the outcome of this assessment, the lender may still require a personal guarantee from the directors or shareholders. In this case, the individual is promising to make payments to the lender in support of their business, but no formal security will be registered against either the business’s or the individual’s assets, which means you may deal with both freely.

The majority of the business loans arranged by Geared are unsecured. In some cases, a lender may require formal security. This will depend on the particular circumstances and requirements of the individual business and is determined on a case-by-case basis.

There are a number of different loans available depending on the current stage of your business and what you hope to achieve with the loan. With the assistance of our lending experts, you can find the best solution, lender, and rate for your business to ensure that you move forward with confidence.

The lending solutions we provide cover a wide range of requirements, and we will work with you to identify the most suitable financing option for your needs. If you would like more information on the different types of financing available, please request a call back, drop us a message or give us a call on 1300 550 007.

There are several factors that can affect the term of a business loan, including the amount of the loan and the lender providing the financing. The term of business loans typically ranges from six months to five years or longer. Some businesses may also be able to renew or extend their business loans at certain points during their terms. Choosing the correct business loan is an important decision for any entrepreneur looking to expand their business. For more information on the different types of financing available, please request a callback, send us an email, or call 1300 550 007.

Yes, and we never charge you an early repayment fee if you choose to do so.

Business loans can be time-consuming and complex to obtain. If you wish to obtain a bank loan, for instance, you will have to complete a large amount of paperwork and may be required to submit complex documents, such as a business plan. Additionally, research has revealed that a large percentage of small business loan applications are turned down by banks.

Fortunately, you have more options for financing. At Geared, you can apply online in a few minutes and receive a response within 24 hours, not weeks. We also specialise in unsecured loans, so you may be able to access finance without the need for any collateral.