Unsecured Business Loans
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For most businesses, one of the biggest challenges is generating enough cash flow to escalate their growth phase. That's where an Unsecured Business Loan can help.
What Exactly is an Unsecured Business Loan?
An unsecured loan is exactly as it sounds: a loan where funds are not secured against any particular asset. The finance provided is assessed against your businesses’ cash flow and future ability to make repayments.
It’s similar to a personal loan which is assessed against someone’s income and expenses. A secured loan on the other hand, is form of lending where the funds are secured against a particular asset (i.e. property or plant & equipment).
The move away from traditional lending and towards unsecured finance has come about due to the emergence of fintech lenders. Moula is filling this gap in the market, with a solution tailored towards small businesses.
Unsecured Business Loans vs Secured Business Loans
Traditional bank lending options are often cumbersome, require lengthy approval processes, and are limited in flexibility with lending needing to be secured against (sometimes personal) assets.
Banks also tend to be risk-averse and will often require businesses to have several years of strong trading history before lending to them – creating a catch-22 situation for small businesses looking to grow and innovate.
Unsecured Business Loans. Because Good Business Deserves Moula.
Fast and Flexible Unsecured Business Loans
Small businesses’ wanting to drive forward often need quick access to funds and upfront capital to invest in various facets of their operations. In today’s fast paced environment, without this cash injection, it can mean missing out on crucial opportunities. Traditional lending isn’t structured to capitalize on opportunities in a fast-moving marketplace.
At Moula, an unsecured business loan provides true flexibility, allowing you to use the funds for what your business really needs, without weeks of waiting.
With the certainty of consistent repayment options – you’re in complete control and you’re not required to use any of your assets as collateral against the loan.
Who is an Unsecured Business Loan Suited to?
If you operate a business that doesn’t own a significant asset, such as a property, then you’ll usually be locked out of secured funding options. A Moula unsecured business loan provides freedom and flexibility to use the funds for what you really need. Money is lent to you against your businesses’ current trading position, an ideal solution for service-based businesses and/ or industries.
If you’re looking to make a quick move in the market – waiting for a secured loan may mean a missed opportunity. An unsecured loan can be the ideal solution for businesses who are nimble or have identified a gap in the market they want to move into quickly. Your business can invest right now into future growth opportunities.
Unsecured lending with Moula is Quick. Smart. Moula enables businesses’ to maximize opportunities today. Gone are the days of having to go through lengthy application processes and jump multiple hoops to secure funding.
How Are Repayments Structured?
To make it as simple as possible for our customers, repayments are structured around a simple interest rate which is applied against the outstanding balance of your loan. There are no hidden fees such as establishment fees and direct debit fees, no nasty fine print, and no penalties for early repayment.
With a Moula loan, you know exactly what your repayments will look like, as we believe in transparent, ethical pricing.
Your interest rate will be assessed based on the current performance of your business and the overall level of risk. Generally, unsecured loans are a little riskier than the traditional type of business lending. However, at Moula we assess each business individually and determine the best rates based on current performance, so it’s not a one-size-fits-all approach. We have a team of dedicated assessors who review each application personally to offer you the best loan for your needs.
To see what a business loan from Moula would look like, try our Business Loan Calculator. We’ll even send you a free loan pricing PDF, so you can see exactly what the repayments would look like.
How much would you like to borrow?
Interest per fortnightly period
What If I’m a Startup?
If you’re a startup business, you will need at least 6-12 months of business records before you can be eligible to apply for a business loan with us. While we can’t lend to startup businesses that are still in the very early stages of raising funding, we can lend to startups who are in their growth phase with 6+ months of sales.
We’ve helped a range of businesses across all sorts of industries at all stages of their growth cycle. Check out our article on startup business loans for more information:
Startup Business Loan Information
How Can an Unsecured Business Loan Help Me?
Unsecured lending can be used to help grow your business, so you can:
- Purchase inventory or equipment
- Renovate or invest in new premises
- Hire new staff or pay for marketing
- Manage cash flow
- Pay for business-related debt, such as ATO debt
With a simpler approval process, less paperwork and freedom to use the funds for what your business really needs, an unsecured loan could be the answer to helping your business grow.
With Moula, you can apply online for an unsecured business loan in under ten minutes, and receive funding within 24 hours. Quick. Smart.