There’s been a lot of focus on small business in the last few months, with generous tax deductions and other goodies being offered to small businesses in the recent Federal Budget. We thought it was about time that the finance sector jumped on the small business bandwagon, so we’re excited to let you know about a great range of small business loans that have come onto the market.
The past 6 to 12 months have seen a great range of new small business loan products brought to market from new entrants in the lending space. Filling a much needed gap in the SME lending space, these short term loans provide a great alternative to what the banks are offering.
Get $20K, $50K or $100K to grow your business
- Loans from as little as $5K through to $250K finance are available
- Great for seizing opportunities as they are presented to your business
- Take away some of the pain during cash flow shortages or from unexpected bills / debts
Quick and easy
These new loans make it quick and easy to get access to the money you need:
- Application process takes 5 to 10 minutes
- Approved within 24 hours
- Funds into your account within 48-72 hours
No security needed
This new class of loans doesn’t need security so you don’t have to put your house up as a guarantee. They use the strength of your business as its ability to repay:
- Age of business (older than 12 months)
- Cash flow – generally can lend up to 70-90% of your average monthly revenue
- Relatively good credit history
And they are reasonably priced!
Historically, unsecured lending came with excessive interest rates to match. This new breed of product comes with a well-priced proposition equivalent to a bank overdraft or credit card rates – typically 25-30%.
This makes them a really good source of funds at a reasonable price without the need for property as security.
Gets our thumbs up
These new products certainly get the thumbs up from the team at Pluto Capital as they provide a great product that can really help grow small businesses quickly, painlessly and at a fair and reasonable price point.