Business Loans Sydney

Compare a range of loan deals with Savvy to help you find the best one for your Sydney business here.

Last updated on June 9th, 2022 at 12:19 pm by Thomas Perrotta

Compare business loans Sydney

It’s important to know your business loan options prior to commencing your application, which you can find right here with Savvy. Whether you’re located in the heart of Sydney’s CBD, operating on the outskirts of the city or running anywhere else across New South Wales, you can compare loans here.

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
Months
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
Months
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
Months
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
Months
$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
Months
$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 Sydney small business loans

No security needed

You can compare business loans without any need to put up an asset as collateral for your loan, with our lending partners offering unsecured business loans.

Pay at your own speed

Choose your loan’s term to align with your business’ ability to repay the debt, with lengths as short as three months and as long as five years (and everything in between) available.

Borrow up to $500,000

You’re able to take out small unsecured business loans in Sydney for as little as $5,000, but you can also apply for larger amounts into the hundreds of thousands for your business.

Access competitive interest rates

Compare loans on the market to help you determine which is the most affordable, with competition between financiers helping you secure the best interest rate for your loan.

Same-day approval possible

Some lenders can offer you the ability to apply for your loan, get approved and receive your business loan funds very quickly, with approvals available as soon as the same day you apply.

Available to businesses with six months of trading

We work with lenders who can offer new business loans in Sydney with as few as six months of trading under their belts, which can be a great help to stay on top of your expenses.

Why use Savvy to help you find your Sydney business loan?

How to compare business loans

Applying for your business loan, step by step

It’s important to enter your business loan application with an understanding of how it all works from start to finish, which will give you more clarity on how to improve its speed.

Although it may not be a long and complicated process in many situations, you’re always better off knowing each step of the way rather than applying blindly.

Read through the process here to familiarise yourself with how everything works and ensure you’re prepared when the time comes to apply.

If you want to see a more practical demonstration of the cost of your business loan across different term lengths and interest rates, you can use Savvy’s business loan repayment calculator before you apply.

Choose your lender with Savvy

With a variety of lenders and loans to choose from, comparing your options thoroughly with Savvy will help you make a more educated decision on which is best for you.

Gather your documentation

For most loans below around $200,000, you’ll likely only need your business’ bank statements, ABN/ACN and GST registration, personal ID and record of rent.

Apply and receive an outcome

Once you’ve gathered these, you can submit them alongside your online application form and receive an outcome in as little as one hour.

Have your funds advanced to your account

When your lender approves your application, they’ll send through a contract for you to sign, after which they can advance the funds to your account as soon as on the same day.

Frequently asked Sydney business loan questions

Can I claim my loan repayments on tax?

You can claim a portion of your business loan repayments as a tax deduction, namely the interest paid. Your loan principal itself cannot be claimed. If you plan to do so, make sure you keep a detailed copy of your repayments so you can avoid any confusion around your tax returns.

Am I able to have multiple business loans at once?

Yes – businesses can be approved for multiple loans at the same time. However, having loans already on your books when applying for another can reduce your chances of approval in some cases. If a lender believes your business poses too great a risk, you won’t be approved.

What happens if I find a better business loan during my current repayment term?

You can look to refinance your business loan if you come across a better deal midway through your repayment term. This involves taking out a new loan to cover the cost of your current loan, paying it off and taking on its repayments as a result. You may also wish to refinance for a variety of other reasons, such as to extend your term to reduce your repayments (which will cost more overall) or consolidate debts by accessing business equity.

Which business financials will I need to supply for my application?

If you opt for a larger loan, the business financials you may be required to submit alongside your application may include:

  • Profit and loss statements
  • A business plan which forecasts future revenue
  • Accounts receivable and payable
  • Balance sheets
  • ATO Integrated Client Account (ICA)
Can I supply security for my business loan?

Yes – there are business loans available which enable you to produce an asset as collateral for your loan, such as property, to increase your borrowing range significantly and reduce your interest rate. You can also do this when you’re looking to buy specific equipment, known as equipment finance, which you can do right here through Savvy.

Should I get my loan through a business loan broker in Sydney?

Going through a Sydney business loan broker for your finance deal can help you out significantly. In doing so, you’re enlisting the help of a professional who can do all of the legwork for you, as well as negotiate a great deal with their partnered lenders. As such, they can be a great option for businesses. However, these brokers operate online, so you’re not limited to those based in New South Wales.