Business Loans Sydney

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

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, updated on September 21st, 2023       

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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.

Types of business loan

Why compare business loans through Savvy?

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.

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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.