Clearly, a better way to borrow
We’re so passionate about transparent lending we created a business loan calculator. You can crunch our numbers and know exactly what your repayments will look like before applying for a business loan with us. And we never charge any sneaky hidden fees.
If you’ve been asking “How much can my business borrow?”, use our free business loan calculator to work out the total cost of a loan for business ahead of time. Check out what your fortnightly repayments will look like at different interest rates, and then get a simple repayment schedule sent straight to your inbox. The business loan repayment calculator is free and you can send yourself as many of these as you like.
The information provided in the business loan calculator above is indicative only.
How much does a Moula business loan cost?
At Moula, we keep pricing simple.
We use a simple interest rate against your outstanding balance. That means you pay back what you borrowed (the principal), plus interest, but no additional charges. Our interest rates range from 0.61% – 2% per fortnight, and not a cent more in sneaky hidden fees.
What are the extra fees?
There are none. Nada. Zilch. No hidden fees.
Unlike with some types of loans and credit cards, we don’t charge any hidden fees or charges at all. No establishment fees, direct debit fees, ongoing fees or penalties for early repayment. We charge fixed interest rates, not variable interest rates, so you won’t get any unwelcome surprises that can make it difficult to manage your cash flow.
What business loan fees and charges should I look out for from other lenders?
Common hidden fees include establishment fees, direct debit fees, and early repayment fees.
Application fees: Similar to an establishment fee, many lenders charge an application fee, which is payable even if your loan application is declined. We don’t charge an application fee and never will.
Direct debit fees: Some lenders will charge you a few dollars every time you make a repayment. Although this may only seem like small change, a $3 direct debit fee can turn into hundreds – or even thousands of dollars – if you’re repayments are weekly or daily. We don’t charge any direct debit fees at all on our business finance.
Establishment fees (also known as origination fees): This is sometimes a standard flat fee, but more often than not is calculated as a percentage of the total loan amount. At Moula, the establishment fee is zero.
Early repayment fees: If you’re ready to pay off your loan early, congrats! At Moula, we’ll be delighted to see you close out your business loan early, and we won’t punish you for this, ever. Many lenders in Australia charge a penalty for early repayment of a fixed-term loan or charge you interest on all the remaining business loan amount. Always read your loan agreement carefully and know what the loan terms are if you want to pay out early.