Small business loans for Australia's small businesses

At a glance

• For sole traders, partnerships, companies and trusts
• Own property? Borrow $20,000 to $5 million, no financials
• Renting? Unsecured options from six months of trading
• Every industry and every state and territory
• 60-second enquiry, no effect on your credit score
• A real person helps you pick the right route

What are small business loans in Australia?

Small business loans in Australia are funding for the businesses that make up most of the country's economy: the sole traders, family operations and small teams doing the real work. Through Just Business Loans, there are two ways to borrow, and both are built to keep paperwork to a minimum.

Big banks often design their business lending around bigger businesses with finance teams and neat annual reports. Small businesses tend to have one person doing the books on a Sunday night. Our lending partners get that, and they ask for a lot less.

Which business structures can apply?

Every common Australian business structure can apply. Here's what each one usually needs to get started.

Your structure rarely decides the outcome. The bigger questions are simpler: is there equity in a property you own, or does the business have half a year of steady trading to show? Sole traders can find more detail on our sole trader business loans page.

What do small businesses borrow money for?

Small businesses borrow for all sorts of reasons, and they tend to change as a business grows. Here's how that usually looks.

Finding your feet

• A first van, ute or trailer
• Tools and equipment to take on bigger jobs
• A basic fit-out for a first shopfront

Growing

• Hiring a first employee or an apprentice
• Stock for a new product line
• A second location or a pop-up
• Marketing to fill the calendar

Riding out the bumps

• A customer paying late
• An ATO debt, BAS or superannuation catch-up
• A slow season before the busy one arrives

Making a big move

• Buying out a partner
• Buying a competitor or a complementary business
• Bridging until a property sale or refinance

A cafe owner in Wollongong, a tiler in Darwin and a small accounting practice in Canberra will all need different things at different times. The loan just needs to fit the moment.

Why is paperwork so light for small business loans?

Paperwork is light because the lenders in our network focus on a few key things instead of your entire financial history.

For a property-secured loan, think photo ID, the address, your current mortgage details, the reason for borrowing and a repayment plan. Financial statements stay in the drawer.

For an unsecured loan, the lender mainly wants to see your business account history, which you can usually hand over digitally from your phone.

That's especially handy for small businesses whose accountant is flat out, whose tax returns are running behind, or whose numbers don't do the business justice after a tough year.

Are small business loans available where I am?

Yes. Small businesses right across Australia can apply, including:

1. New South Wales, from Sydney to Byron Bay
2. Victoria, from Melbourne to Mildura
3. Queensland, from the Gold Coast to Cairns
4. Western Australia, from Perth to Broome
5. South Australia, from Adelaide to Mount Gambier
6. Tasmania, from Hobart to Burnie
7. The ACT and the Northern Territory

For unsecured loans, location doesn't really matter. For property-secured loans, the property's location is part of the assessment, and metro and major regional areas are usually easiest to work with.

What makes small business finance harder than it needs to be?

A few common habits make small business finance harder than it needs to be. The good news is they're all easy to fix.

• Mixing business and personal money. One business account makes your cash flow much easier to read.
• Leaving cash unbanked. If takings never hit the account, a lender can't see them.
• Applying everywhere at once. Lots of formal applications can dent your credit score. Our form is an enquiry, so it doesn't.
• Being vague about the purpose. "Equipment for the new contract" helps far more than "working capital".
• Not having an exit in mind. For secured loans, know roughly how the loan will be repaid.

For more ways to keep the whole thing painless, have a read of easy business finance.

How do I get a small business loan?

You get a small business loan in three simple steps, and the first one takes about a minute.

1. Fill in the form. A few taps covering the amount, the reason, any property you own and your trading history.
2. Talk to a real person. They'll work out whether the property-secured or unsecured route fits and tell you exactly what to send.
3. Send a few documents. Usually ID and property details, or your business bank statements. The lender takes it from there.

Here's an illustration. Priya runs a two-person bookkeeping practice in Bunbury and wants to take over a retiring colleague's client list. She owns an investment unit with decent equity. A second mortgage on the unit covers the purchase, her home loan stays untouched, and she plans to repay from a refinance once the new clients are on the books. No tax returns, no business plan, no fuss.

Is there a loan for my industry?

There almost certainly is. Tradies, retailers, cafes and restaurants, transport operators, health practices, farmers, beauty salons, gyms, online stores, manufacturers and professional services firms all apply through the same simple form. Tradies can check out tradie business loans for examples that fit their world.

Lenders make the final call on each application, and each loan is priced to suit the business in front of them. What we promise is a real person, a clear explanation and a real effort to find the sharpest deal available for your business.

Small business. Simple loans. Just the way it should be.

FAQs