Everyone knows that you need to spend money to make money as a business. Perhaps you’re looking to renovate your commercial space, buy more inventory, purchase a vehicle or equipment or even simply boost your cash flow.
Whatever the need, business loans can help you do just that. If you’re ready to take the next step and invest in your business, get started with a free, no-obligation quote through Savvy and let the experts handle the rest!
Why apply for a business loan with Savvy?
Expert brokers
You can speak with one of our specialist commercial brokers who can walk you through a range of loans to best suit your company's needs.
Over 40 lending partners
You can compare business loan offers, through a range of trusted lenders, maximising your chances of a great rate.
Fast online process
You can fill out our simple online form to generate a free business finance quote within minutes. You can also come back to it at any time.
Business lenders you can compare



How do business loans work?
Business loans are designed to help business owners cover a wide range of expenses. There are several types of business finance, with each option working slightly differently. However, they can either be unsecured (no asset collateral) or secured (asset collateral attached). This collateral can be commercial property, assets or your home.
Depending on the loan type, you can borrow as little as $5,000 up to well over $1 million (with borrowing power usually tied to revenue generation). You’ll repay your loan debt with interest and fees for a set term of a few months to five or more years until it’s paid off.
In terms of what your business loan can be used for, your options are also highly flexible. Here are just a few of the potential ways you can use your loan funds:
- Increasing your available cashflow
- Hiring new staff
- Renovating or improving your business premises
- Buying inventory
- Purchasing an asset, such as a vehicle, equipment or even commercial property
- Cover bills
Types of business loans in Australia
Unsecured business loans
The most common and widely available type of business finance in Australia, unsecured loans are available for up to $250,000 to $300,000. You can take up to three years (or sometimes five) to repay your loan, but loans on the shorter side can come with terms as short as a couple of months.
Secured business loans
With a valuable business asset or property backing your loan, your borrowing power can extend into the millions of dollars. Securing your loan with an asset can also score you a lower interest rate and fees, as well as extend your repayment term up to 30 years in some cases.
Small business loans
Although this isn’t a specific product in itself, loans are available to small businesses for as little as $5,000. You can choose whether to secure your loan (if you have an eligible asset) and set your preferred repayment period.
Business lines of credit
An alternative to the standard business loan, lines of credit work in a similar way to credit cards. You’re approved for a set limit and can withdraw funds at any time up to that limit. There also aren’t any set repayments, but they may come with a maximum repayment period. Interest and fees are generally higher for these loans.
Business overdrafts
Like lines of credit, business overdrafts allow you to access funds up to an approved limit at any time and more or less repay them at your own speed. However, the difference here is that overdrafts are attached to business bank accounts. These allow you to withdraw beyond a $0 balance.
Invoice financing
Invoice financing can be one of two things. Invoice discounting involves receiving an advance on your outstanding invoices from a financier (up to 80 to 85%) and the remainder minus fees once the invoice is paid. Invoice factoring requires you to sell your outstanding invoices to a third party and receive up to 90% to 95% of their value.
Chattel mortgage
A chattel mortgage is a type of secured loan designed to help you purchase a commercial vehicle or equipment. The asset you buy acts as security for the loan. These can range from one to seven years in length with no set upper limit on your borrowing (up to what you can afford).