$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.
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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.More details |
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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.More details |
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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 monthsMore details |
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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.More details |
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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.More details |
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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
A trusted brand
We’ve been helping Australians find their ideal loan for over a decade, giving us a wealth of knowledge about what makes a good deal.
No paperwork needed
Because your comparison and application take place online, you won’t need to worry about getting lost in messy paperwork and documents.
Simplifying the comparison process
By breaking down each loan offer in the areas that matter most, we take the legwork out of comparing loans to simplify it for you.
How to compare $50,000 business loans with Savvy
Interest rates
One of the key areas to assess when considering different unsecured business loan offers in Australia is their interest rates. It’s important to get this aspect of your business loan right because it stands to be the most significant cost factor in your agreement. Even small differences in interest rate can save you hundreds of dollars over your term, if not more.
Fees and comparison rates
On top of interest rates, fees can also factor into your business loan. This primarily comes in the form of your application fee (otherwise known as its establishment or origination fee), which can cost either a fixed sum or a percentage up to 3% of your total loan amount.
As such, you should compare offers based on comparison rates, which are percentage figures that incorporate both your loan’s interest and fees to give you a more accurate indication of its cost.
Early repayments
You should look to prioritise loans with free early repayments wherever possible, as it’s useful to leave the door open for yourself should your business’ revenue generation improve. In paying off your loan early, you can shorten its term and reduce its payable interest (which is calculated based on your outstanding principal).
Being able to do so will help increase your business’ credit score and potentially make it easier to access further financing in the future.
Available loan terms
Perhaps most important is finding a lender who offers the loan term you’re looking for. When assessing business loan applications, lenders always look to the proposed loan term and assess whether it’s affordable for your business. This forms the cornerstone of your approval chances, as your loan must be comfortably affordable across your term to be greenlit.
Don’t settle for a shorter term which you’re not wholly comfortable with, nor should you select a longer term than you need and pay more interest overall.
Types of business loan
Finally, you should also give some thought to the type of loan you’re after. While the most popular type of loan, the conventional unsecured business loan, dominates the market, you can also look to a business line of credit if you wish to. These are seen as a highly flexible source of financing, as you can withdraw funds up to a set limit whenever you need them and only pay interest on your outstanding balance.
However, lines of credit can come with higher interest rates.