SMEs at the forefront of our growing economy
Small businesses play an important role in the Australian economy, with over 700,000 small businesses operating in Victoria1.
The number of small businesses entering the total business count is growing by the day, whether they be start-ups, solo entrepreneurs, family-run operations, or medium-sized enterprises. Unsecured business loans can help these companies grow.
Over 95 percent of Australian companies are small businesses, accounting for 33 percent of the country’s GDP, employing over 40 percent of the workforce, and paying around 12 percent of total company tax revenue2.
While some SMEs are at the cutting edge of technology and design, only 30 per cent of small businesses engage in innovation and business improvement initiatives3.
Unfortunately, lack of access to capital is the most common barrier to growth, innovation and R&D4.
Why you need to invest in your business
Investment in new goods, services, processes, and methods is critical to running a thriving, profitable, and scalable business. Every business must be at the forefront of its industry to avoid being undercut and overrun by stifling competition and market conditions.
Small- to medium-sized businesses heavily rely on bank financing for day-to-day operations, and many are vulnerable to credit issues due to fewer assets, loan collateral, and a lack of alternative financing sources.
Cash flow can be the difference between a business sinking or sailing. Small business loan applicants now face a 74% rejection rate at banks and traditional lenders. They’ll also take 6 to 8 weeks to assess a loan application. Instead of waiting for banks, you can apply for Moula business finance and have funds in your account tomorrow.
The better Melbourne business loan
With many financing and funding companies fighting for your business, it can be easy to feel confused and overwhelmed. With Moula, what you see is what you get. Our pricing is simple and friendly, with no direct debit fees. We believe in transparency, so there are no hidden fees and no hassle.
Moula has a TrustScore of 4.8 out of 5 based on 1,748 reviews from real business owners on Trustpilot. Don’t just take our word for it, though, read reviews from our customers.