Easy to apply.
Simple as 1, 2, 3.
Apply for a business loan online in just 7 minutes, by following these three easy steps:
Business Loan Basics
There are many uses for a business loan. You may want to grow your business, improve your cash flow, or purchase inventory.
When looking for business finance, many credit products are available, including term loans, business overdrafts, a line of credit, business credit cards or equipment finance. Some of the key questions to ask include:
- What is the interest rate? Is it a fixed rate or variable rate?
- What are the loan terms?
- What are the repayments like, and will I be able to repay the loan?
- What are the terms and conditions?
- Are there any hidden fees, including early repayment fees?
Getting a business loan can be a long and complex process. With a bank loan, for example, you will have to complete a large amount of paperwork and might need to provide complex documents, such as 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. At Moula, our application process is paperless and it won’t take weeks to process. You can apply online in minutes and we can have an answer for you within 24 hours. Plus, we specialise in unsecured loans, which means no collateral is required.
If you’re a business owner, you probably 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 a business loan. Instead of requiring you to complete loads of paperwork and supply a business plan, you can complete a business loan application online in under 7 minutes. Once you link your business data, we can assess your application in real-time and can provide an answer within 24 hours.
It can take 6 to 8 weeks to get an answer when applying for a traditional bank business 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. We’ll help you get quick access to business finance when you need it, without the long wait. Once approved, funds are transferred to your account by the next business day, letting you get on with growing your business.
Some business lenders will charge fees, such as administration fees, direct debit fees, and early repayment fees. These fees can add up significantly, and if you weren’t aware of them when you applied, can really inflate the cost of your business loan. When considering the cost of finance for your business purposes, be sure to read the fine print to understand what fees you are being charged.
At Moula, we have no hidden fees. You can crunch our numbers with our loan calculator and see exactly what your repayments will be. We also don’t have any early repayment fees, which means you can repay early anytime with no penalty or charges.