$50,000 Business Loans

Find the best loan offer for your business by comparing a range of $50,000 finance options right here with Savvy.

Last updated on June 7th, 2022 at 02:57 pm by Thomas Perrotta

Compare $50,000 business loans

It’s always important to compare different $50,000 business loans before you select yours, which you can do with Savvy. With partners across the country, we give you more choice when it comes to selecting your finance deal to help you find the best and most affordable offer for your business.

site-logos OnDeck Business Loan
  Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee Annual Fee  
site-logos $10,000 $250,000 6 to 24
3% $0
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Lightning business loans up to $150K can be funded in as fast as 2 hours - simply provide 6 months of recent bank statements.

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site-logos Lumi Unsecured Business Loan
  Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee Annual Fee  
site-logos $5,000 $500,000 3 to 36
2.5% $0
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Boost your business with fast hassle-free funding from Lumi. Apply online in five minutes without harming your credit score and get funds in as quickly as 24 hours. For a limited time: Business Loans with No Repayments for the first 6 weeks. T&C apply.

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site-logos Lumi Lux Rate Reducing Business Loan
  Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee Annual Fee  
site-logos $200,000 $500,000 12 to 48
3.50% $0
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Lumi Lux™ is an innovative rate-reducing business loan that rewards customers with good repayment histories and no contractual breaches throughout their loan term by dropping interest rates by 25 basis points (0.25%) every six months

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site-logos Valiant Finance Business Loan Broker
  Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee Annual Fee  
site-logos $5,000 $1,000,000 3 to 60
$0 $0
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Valiant is Australia’s leading business loan broker with a network of over 80+ lenders. Apply for a business loan between $5,000 and $1 million and get approved in as little as 24 hours.

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site-logos ebroker Unsecured & Secured Business Loans
  Min. Loan Amount Max. Loan Amount Loan Term Establishment Fee Annual Fee  
site-logos $5,000 $3,000,000 6 to 360
$0 $0
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Compare, find and match fast to over 80 bank and non-bank lenders accessing much needed working capital from a unsecured business loan.

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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.

You should always consult a given offer's PDS or further documentation in the process of deciding on which loan to choose, as well as seeking independent, professional advice. If you decide to apply with one of the lenders listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the lender offering that product.

The features and benefits of $50,000 business loans

Flexible loan terms

Decide on a loan term which best suits your business’ ability to handle repayments, with varying lengths available as short as three months and as long as five years.

Competitive interest rates

With competitors vying to capture you as a customer, you can take advantage of lower starting business loan rates in Australia and reduce the amount you’ll need to pay overall towards your loan.

Look for repayment flexibility

Some lenders offer small business loans without imposing any charge for paying out your agreement early, offering you flexibility and the opportunity to save further.

24/7 online applications

If you’re working flat out during the day and only have spare time in the evenings, you’re able to submit your application at any time of night via a simple online process.

Unsecured business finance

You won’t need to worry about determining whether your business’ assets are suitable to secure your loan, or indeed put up personal assets, as you can take out an unsecured business loan.

Just six months of trading required

It doesn’t matter if your business is still in its relative infancy at six months old, as we work with lenders who can approve financing for businesses who’ve been trading beyond that period.

Why Australian business owners compare options with Savvy

How to compare $50,000 business loans with Savvy

Frequently asked questions about business loans

Which documents will I need for my $50,000 business loan?

As part of your business loan application, you’ll need to supply the following documents:

  • Your ABN/ACN and GST registration
  • Your business bank account details (to obtain recent bank statements)
  • Your regular expenses, such as rent
  • Personal identification (driver’s licence and/or passport)
What factors affect my business loan’s interest rate?

There are several factors which will impact the interest rate you’re offered. This is mainly dictated by the level of risk your lender feels they’re taking on in lending to you, so the length of your loan may affect your interest rate if your lender considers a long term a greater risk. Additionally, the state of your business’ finances, namely its monthly revenue, the stability of cashflow and its credit score, will all factor into your lender’s decision on the rate you’re offered.

How quickly can I be approved for financing?

The entire application and approval processes for business loans are quick. Your application form will only take five to ten minutes to fill out on your lender’s site, after which you can be pre-approved and approved as soon as the same day. Your lender can then advance the funds directly into your business’ account just 24 hours thereafter, completing an extremely quick process which delivers the funds you need before you know it.

Are there any tax benefits on business loans?

Yes – you can claim the interest portion of your business loan repayments as tax deductions at the end of the financial year. If you’re able to do this, you can save a considerable amount across your loan. It’s important to note, though, that the principal portion of your repayment can’t be claimed on tax, so you’ll need to pay this yourself.

What is a business overdraft facility?

A business overdraft is a facility attached to your business bank account which enables you to withdraw beyond $0 up to an approved limit. It functions in a similar way to lines of credit in that you can withdraw funds whenever you need them and only pay interest on your outstanding balance, although they come without set repayments. However, like lines of credit, interest rates are higher and can cost you more in the long term, while also heightening your business’ available credit (which can negatively impact its credit score).

Can I borrow $50,000 for my startup?

Probably not – while there are specialist lenders who can offer loans to startups fewer than six months old, it’s incredibly unlikely that you’ll be approved for an amount as high as $50,000 in this circumstance. This is because startups are seen as posing a significantly greater risk than established businesses, which leads to limitations on borrowing power and will incur higher interest rates. In this position, you’re more likely to be approved for a maximum of $30,000 on a business loan.