$50,000 Business Loans

Compare a range of $50,000 business loan options right here with Savvy today.

Written by 
Savvy Editorial Team
Savvy's content writing team are professionals with a wide and diverse range of industry experience and topic knowledge. We write across a broad spectrum of finance-related topics to provide our readers with informative resources to help them learn more about a certain area or enable them to decide on which product is best for their needs with careful comparison. Meet the team behind the operation here. Visit our authors page to meet Savvy's expert writing team, committed to delivering informative and engaging content to help you make informed financial decisions.
Our authors
, updated on July 26th, 2023       

Fact checked

At Savvy, we are committed to providing accurate information. Our content undergoes a rigorous process of fact-checking before it is published. Learn more about our editorial policy.

Business Loans Banner
Lumi Logo
prospa logo
Angle Finance Logo

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.

Types of business loan

Why compare business loans through 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.

Helpful business loan guides

Business Loans Banner - Electrician fixing wiring in a house

How to Collect Unpaid Invoices

Learn about some of the handy and effective ways of collecting unpaid invoices from your clients. Any business which deals...

Business Loans Banner - Small business owner smiling in his office holding a tablet

How to Get a Small Business Loan

Read through the step-by-step process of applying for your business loan and how to maximise your approval chances. Loans help...

Business Loans Banner - Food truck business owner standing in front of his food truck

Interest-Free Business Loans

Find out more about interest-free business loans, what they are and how they work in this handy guide. If your...

Business Loans Banner - Woman paying for her shopping at a retail shop with her credit card

How to Get a Business Loan

What's involved in the process of getting a loan for your business? Find out more right here! Business loans are...

Still looking for the right finance for your business?

Explore a range of business loan options suitable to your financing needs and apply online through Savvy today.