WHAT WE FINANCE > BUSINESS FINANCE > BUSINESS LOANS

Business Loans

Are you looking to fund the expansion of your business, manage your growth, seize a massive opportunity, purchase inventory, or simply manage the cashflow of your business?

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Having access to the right capital and securing the right business loan solution that fits your needs on how your business operates is so important to your continued success and peace of mind.

With so many options available and being thrown at you it’s so important you go down the right path with the right financier when it comes to securing a Business Loan. Having the right finance partner can save you time, money and allows you to take on massive opportunities.

We can arrange a secured or unsecured business loans for just about any worthwhile purpose you can think of.

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A Business Loan is designed to assist you with:

Assisting with day-to-day cashflow

Purchase inventory

Pay for Overheads

Repay Debts

Investing into a new market

Taking on a new contract

At Yakka Finance we are dedicated to making Business Loan Finance as convenient and streamlined as possible.

Keep your business moving with low rates

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Business Acquisition Finance is one of the more difficult financing facilities so having an experienced and well awarded team to support you on the strategy of structuring your acquisition. Let us do the hard work and due diligence for you by:

Completing a full financial analysis of the business you are looking to purchase

Completing a detailed forecast for your business moving forward

Maximum Lend of $500k under Low Doc

Arrange business valuations with you

Speak to all related parties involved with the finance and acquisition for a streamlined approval process

At Yakka Finance we are dedicated to making Business Acquisition Finance as convenient and seamless as possible. Purchasing another business is a big decisions with a lot of thought and due diligence that goes into the purchase.

What’s our promise to you?

We promise when it comes to Business Loans our service is convenient and cost-effective. We will take out any guesswork for you on which is the right bank or lender for you as we handle the entire business loan process for you.

Quick & Clear Approval Process

Personalised Service

Expert Knowledge of a wide variety of banks & lenders

We want to see your business succeed

Relationship Focused and Lifetime Support on your Business Loan

Excellent Rates

*Conditions apply. Subject to credit approval.

The Team at Yakka Finance are available at all hours to take your call. Please contact our Business Loan Finance Specialists on 1300 842 911 or by email at info@yakkafinance.com.au for a quote today!

Strong Relationships & Exceptional Service

Our customer relationships are built on trust, expertise, and communication. We take the stress out of the finance application process for you by providing a prompt, reliable and personalised service.

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Fast Approvals: We specialise in securing quick finance approvals, ensuring you experience minimal waiting time.

Streamlined Process: We offer a hassle-free and streamlined process from application through to settlement.

After-Hours Assistance: We are available to assist you after hours, ensuring you receive continuous support and exceptional service that you have never experienced before.

OUR LENDERS

Trusted by over 60 lenders with hundreds of loan products

FREQUENTLY ASKED QUESTIONS

Our most commonly asked questions answered below:

How can I get a business loan?

This is a very broad question. The best way to begin is to look at your reasons for getting a business loan, the amount you need and if you can afford to repay it. The first question we always like to get to the bottom of is ‘What do you need the money for?’ and ‘How much money do you need?’ Once you have answered these questions, we can start with the right strategy.

There is such a wide range of business loans available and the right one for you will depend on your circumstances. For example, if you don’t have assets to offer as collateral, you will need to get a business loan that is unsecured. If you have collateral (residential or commercial property or business assets), you will be able to get a business loan that is secured. The difference between the two types of loans is that you can borrow more for a lower interest rate when your loan is secured as there is less risk in the transaction.

The type of loan can depend on what you plan to use the money for and the loan size. If you are seeking short-term funding for cash flow a line of credit or an unsecured business loan could be the right loan for your needs.
Do I have to pay you for your services?
Which bank is best to get a business loan from?

Many banks offer a range of business loans, so it’s impossible to say which bank is best for a business loan until we have a good look at your current situation. For a traditional bank loan, we will work with your Accountant on what is available to present to the best possible Major Bank for an approval. For a new business, the bank will also require a business plan, including profit and loss projections. Even though all banks differ somewhat in their approaches, they tend to offer all the same range of financial products. These include short-term and long-term loans, loans with fixed rates and variable rates, secured and unsecured business loans, business overdrafts and lines of credit. We will match the right financial product for your situation.

Besides the banks, there has been a massive rise in many non-bank lenders that specialise in small business loans. They offer a wide range of finance options to meet the needs of businesses in various financial situations and fast.

The word Fintech (financial technology) lenders are non-bank lenders that leverage technology to make it easier when applying for a business loan. Using leading-edge technology makes it possible for you to quickly for a business loan. With Fintech lenders for example, we can complete the application within 10 minutes and have the approval in the same day. The focus here is on your recent bank statement history for your business which we can quickly determine how easily you will be approved for. Once approved, the funds are transferred to your bank account immediately.

The difference between a Traditional Bank and a Non-Bank/Fintech Lender. The traditional bank is the best option for the lowest interest rate on your business loan. This is our preferred option but it is a slower assessment time and more work is involved. A Fintech lender is there for speed and ease, but they build in a higher rate as they make quick decisions on very minimal information. For our clients it’s all about getting the best deal possible for your certain situation. Our suggestion is always to plan ahead if yopu need a business loan rather than just thinking of it last minute as that can cost you a higher interest rate.
Is it hard to get a business loan?

This will depend on your financial and business situation, how long you have been in business, whether you have collateral or not and the type of business finance you choose. If you are requiring a Business Loan to scale your business because of growth and opportunity than it is very easy to secure a business loan for your business through Yakka Finance.

The only time it is hard to get a business loan on most occasions is when your business is failing and not actually making money.

Non-bank lenders, including fintechs are not constrained by banking regulations, so they are able to approve more loans to small businesses. Since the loans they make are unsecured, the interest rates are normally higher than those of traditional bank loans.

The innovative technology they use simplifies the lending process. Once it has been determined that you can repay the loan, and you are approved, the funds are transferred into your account. In this situation, it’s not hard to get business finance if you meet the criteria of the non-bank lender.
How much can my business loan be approved for?

This will all depend on you and your business. We secure Business Loans for as little as $10,000 for customers. We also have the ability to secure business loans up to $2,000,000. Once we get a good understanding of you and your business, we can then secure the right solution for you at the right loan amount.
How can I get a business loan without collateral?

You can get a business loan without collateral very easily. When you don’t offer collateral, it’s called an ‘unsecured’ loan. Even if you don’t have collateral to offer, there are still so many loan options available. The main difference is that you usually won’t be able to borrow as much and you will pay a higher interest rate for your business loan as its deemed as higher risk. For example, a typical rate for a secured business loan with the traditional banks is around 3-7% per year, while the rate for an unsecured business loan starts at around 12%. That’s 50% more interest for the unsecured loan option of the same business loan.

Certain types of loans don’t outside of business loans require use what you are purchasing as collateral. For example, with equipment finance, the item you are purchasing acts as the collateral while you are repaying the loan which is why Equipment Finance rates always stay low.

Traditional Lenders and Non-bank lenders will provide unsecured loans and don’t require collateral. At Yakka Finance we will safely and securely analyse your situation and determine our best pathway to get you approved for a loan and the loan amount without the use of any collateral.
Can I get a business loan with bad credit?

This depends on what you mean by ‘bad credit’. If you have a bad credit history which can be a result of late payments, defaults and/or bankruptcy it will rule out the traditional bank lenders offering the lowest interest rates.

If you have bad credit, some non-bank lenders specialise in providing business loans to people with bad credit but will charge a higher interest rate due to the higher risk of your credit history. The better your credit file the better the approval.

To get a clear picture of where you stand, we can get a copy of your credit report and run you through what lenders will be available for your business loan.
Do you need money down (a deposit) for a business loan?
How do you qualify for a business loan?

This will depend on the lender we want to go with for your business loan. With traditional bank business loans, we would require more traditional information such as Financials, BAS Statements, ATO Portals and other items that we work with your accountant to obtain.

If we go down the path of a Non-Bank and Fintech business lenders, we will safely and securely access your banking transactions and/or accounting records to make a lending decision based on the Fintech lender we want to use.

In addition to assessing your bank statements, we check your credit history (without making any mark on your credit file) to make the right choice of fintech lender to use for your situation.
How long does it take to get approved for a business loan?

This will depend on the type of lender or bank we go with. Some major bank business loans where the lowest interest rates are offered can take up to 2 to 10 business days to be approved as they assess business loans in a different way to finetch lenders.

Non-Bank and Fintech lenders have streamlined the process to make it quick and simple for business owners it’s just not as cheap as a business loan with a major bank. Fintech Lenders can approve and distribute funds in your bank account the same day.
What is an unsecured business loan?

Some business loans require collateral, which can include property or other assets owned by the business or business owner. One example is business owners who use their residential property to secure business finance. An unsecured business loan does not require collateral. However, many lenders will require a personal guarantee from the borrower.
What is a secured loan?

A secured loan is when a business owner uses another asset they own to secure a loan. The asset can be either a personal asset like the family home, or a business asset like a truck or piece of equipment.

The vast majority of traditional lenders, including the big banks, tend to secure loans against an asset. If you have trouble paying back the loan, then your asset may be sold by the lender. In essence it’s a way of securing new financing by using the value of what you already have. With a secured loan there is very little risk in the deal as they can get their money back by selling off your asset.
What is the difference between secured and unsecured business loans?
The main difference between a secured loan and an unsecured loan is whether an asset such as commercial or residential property, or other business assets are used as security against your loan.

Loans for business with security (secured)

A secured loan requires an asset to be provided as security. This may be property, inventory, accounts receivables or other assets. This security covers the business loan amount if you’re unable to pay it back.

Secured loans:

Allow you to borrow against your assets, e.g. property, inventory, accounts receivables

Generally involve a longer approval process, as there’s security to consider

May require valuation assessments and additional proof and documentation of assets

Generally offer lower interest rates and higher borrowing amounts than an unsecured loan.

Loans for business without security (unsecured)

An unsecured loan doesn’t require physical assets (such as property, vehicles or inventory) as security. Instead, your lender will often look at the strength and cash flow of your business as security.

Unsecured loans:

Often use the strength of your cash flow as security, instead of physical assets

Are generally for smaller business loan amounts

May be assessed quickly, as no security is considered

Tend to have a higher interest rate than secured loans, as they’re deemed higher risk
Can I pay off my business loan early?

With most business loans, there is an option to pay off the loan early. With some lenders, you will pay the interest for the full term even if you pay the loan off early. Other lenders will charge full interest minus a discount when the loan is paid off early. When considering the right solution for you we will make sure we place you with a lender that gives you the ability to pay off early
Is my business eligible to get business finance?

This will depend on several factors including your financial position, credit history, bank statements and ability to make your repayments back. At Yakka Finance we will typically look at your cash flow, profit and loss statement and balance sheet before looking at the best possible solution and lender for you (not just the easiest).

In addition, we will check your credit history to see what other debts you have and how on time you have been in making payments. Some lenders will require collateral to get a business loan, while others offer unsecured business loans that don’t require collateral.

Some lenders have minimum eligibility criteria before they will consider lending. Generally, we have secured a business loan for businesses that have only been trading for 6 months.

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CONTACT US

Please feel free to contact the team at Yakka Finance 24/7

EMAIL: info@yakkafinance.com.au

PHONE: 1300 842 911

ADDRESS: Suite 5, Level 1, 345 Pacific Highway, North Sydney NSW 2060

Yakka Financial Pty Ltd ABN 75 626 017 070 trading as Yakka Finance

Yakka Financial Pty Ltd Credit Representative 508681 is authorised under Australian Credit Licence 389328.

This page provides general information only and has been prepared without taking into account your objectives, financial situation or needs. We recommend that you consider whether it is appropriate for your circumstances and your full financial situation will need to be reviewed prior to acceptance of any offer or product. It does not constitute legal, tax or financial advice and you should always seek professional advice in relation to your individual circumstances.

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Business Loans

Contact us for a FREE QUOTE

Having access to the right capital and securing the right business loan solution that fits your needs on how your business operates is so important to your continued success and peace of mind.

A Business Loan is designed to assist you with:

GET PRE-APPROVAL NOW!

What’s our promise to you?

Strong Relationships & Exceptional Service

OUR LENDERS

FREQUENTLY ASKED QUESTIONS

PAGES

HELPFUL LINKS

CONTACT US

Yakka Finance are Members of the following Associations:

Contact Us

Please feel free to contact the team at
Yakka Finance 24/7

info@yakkafinance.com.au

1300 842 911

(02) 9241 5477

Suite 5, Level 1
345 Pacific Highway, North Sydney NSW 2060

Finance Calculator

Recent Settlements

Truck Partners

Accountant Partners

Machinery Partners

Business Loans

Contact us for a FREE QUOTE

Having access to the right capital and securing the right business loan solution that fits your needs on how your business operates is so important to your continued success and peace of mind.

A Business Loan is designed to assist you with:

GET PRE-APPROVAL NOW!

What’s our promise to you?

Strong Relationships & Exceptional Service

OUR LENDERS

FREQUENTLY ASKED QUESTIONS

PAGES

HELPFUL LINKS

CONTACT US

Yakka Finance are Members of the following Associations:

Contact Us

Please feel free to contact the team atYakka Finance 24/7

info@yakkafinance.com.au

1300 842 911

(02) 9241 5477

Suite 5, Level 1 345 Pacific Highway, North Sydney NSW 2060

Please feel free to contact the team at
Yakka Finance 24/7

Suite 5, Level 1
345 Pacific Highway, North Sydney NSW 2060