Small business loans with no hidden fees and no hassle
Access $5,000 – $500,000 today
To get started, all you need is
Unsecured Business Loans • $5,000 – $500,000 • 6 – 36 month terms
We look after our customers,
but don’t take our word for it
Turnover has more than doubled in two years
Moula helped us to bridge the gap between payments and released money that has gone into more resources, materials, and ultimately running more projects at any one time. Our turnover has more than doubled over the past 2 years largely because Moula has made the process of acquiring funds so easy.
Nick Carpenter - Melbourne Paving
We LOVE Moula
“I couldn’t recommend them more. Such a personal experience and they are so efficient and get back to you so quickly”
Emily Hutchison - hutch
Simple & Clear
Simple and clear application process...Funding was quick and service excellent.
Tom Davies - Chappelli Cycles
Business Loan Basics
There are many reasons for seeking business loans. Maybe you want to grow your business, improve your cash flow or purchase inventory.
When seeking a small business loan, many options are available, including a term loan, business overdraft, a line of credit, business credit cards or equipment finance. Some of the questions to ask include:
- Interest rates – is it a fixed rate or variable rate?
- What are the loan terms?
- Will I be able to repay the loan?
- What are the terms and conditions?
- Are there any hidden fees?
Getting a business loan can be a long and complex process. With a bank term loan, for example, you will have to complete a large amount of paperwork and might need to provide a business plan. In addition, research has uncovered that banks reject 74% of small business loans applications. Fortunately, there are more suitable finance options available if you have an existing business that’s been operating for at least six months.
If you’re a business owner, you don’t have time to complete large amounts of paperwork and then wait weeks for a response. That’s why we make it easy to apply for business loans. Instead of requiring you to complete loads of paperwork and supply a business plan, you can complete a Moula business loan application in under 10 minutes. We link your business data, view your transactions and can provide an answer within minutes. We also check your credit history – with your permission, of course – to help us make a responsible lending decision. Once your business loan is approved, you’ll receive the funds within 24 hours.
It can take weeks to get an answer when applying for a traditional bank term loan. But in a fast-moving business environment, sometimes you need business funding fast. This could be to buy discounted stock, cover a short-term cash flow shortage, or purchase equipment. Whatever your reason, Moula enables you to get quick access to business finance when you need it. Businesses seeking finance will get an answer within 24 hours. If the loan is approved, the funds are transferred to your account by the next business day.
Some business lenders charge fees, such as administration fees, direct debit fees and early repayment fees. These fees can significantly add to the cost of a business loan. When considering the cost of finance, be sure to read the fine print to understand what fees you are being charged.
Understand the true cost of business loans with SMART Box™
In the past, comparing business loans could be confusing because there wasn’t a standardised way to present loan costs and other elements. This all changed with the introduction of a tool developed for comparing fintech business loans. With SMART Box™ you can compare the most important loan metrics so you can make a good business decision with confidence.
What information is included in SMART Box™?
SMART Box™ is a one-page disclosure document that shows the basic elements of the loan option being considered, including the Loan Amount, Disbursement Amount, Total Repayment Amount, the expected Loan Term, and Repayment Frequency. SMART Box™ also includes six common loan pricing metrics: Total Cost of Credit, Average Monthly Payment, Total Interest Payment (TIP), Annual Percentage Rate (APR), Cents on the Dollar, and Factor Rate. In addition, one section covers whether there are any new fees or a reduction in the Total Payment Amount if the loan is paid off early. Having the essential information clearly presented in one document makes it easy to compare business loans.
How can I get a SMART Box™?
Once you’ve completed the application and approval process, you’ll be sent a loan offer, which includes a SMART Box™. You can find out more about SMART Box™ in our guide.