Tradie Finance

Compare a range of business loans from Australia’s most reputable lenders to find your tradie finance deal with Savvy.

Last updated on June 15th, 2022 at 02:41 pm by Thomas Perrotta

Compare business loans for tradies

Whether you’re a sole trader or running your own company, there are many reasons why you might look to take out a loan as a tradie. However, it’s crucial you compare different business loans before settling on one, which you can do right here with Savvy, to ensure you lock in the best deal for your needs.

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 tradie finance

Borrow up to $500,000

You’re able to access quick business loans of up to $500,000, so you won’t have to worry about providing any valuable assets to act as security for your finance agreement.

Diverse finance types

Whether you’re seeking out an unsecured business loan to distribute across several areas or finance specific equipment with a secured loan, you can find an option for you with Savvy.

Repay at your own speed

You can set your own repayment term to suit your business’ income needs, with instalment periods ranging from as little as three months all the way up to seven years depending on your business loan type.

Access competitive rates

With a wealth of lenders on the market vying for customers, you can take advantage of their competition and secure a loan starting from an affordable interest rate.

Pay ahead of schedule

Many business financiers can allow you to contribute additional repayments towards your loan, which can help you save hundreds, if not thousands, and shorten your term in the process.

Funding available in as little as 24 hours

Perhaps the most attractive feature of tradie finance to borrowers is the speed at which it can be processed, with same-day approvals and 24-hour funding possible.

Why you should compare tradie finance deals with Savvy

How to compare different business loans for tradies

Frequently asked questions about tradie finance

What if I’m a sole trader without the required documents?

There are still options available to hopeful borrowers who don’t have all of the documents required to take out a small business loan, such as tax returns, in the form of low doc business loans. These come with lesser documentation requirements, enabling business owners to access the funding they need, albeit at lower borrowing caps and higher interest rates. Once you gather all the required documents, though, you can apply for a standard sole trader loan.

How much can I borrow?

Your borrowing power will be determined by a variety of individual variables, most notably your business’ turnover and available cash after expenses. However, the stability of revenue, time trading and your business credit score will all factor into your lender’s thinking when determining your borrowing power. For an estimate of what different business loans might cost you each instalment and overall, you can use Savvy’s business loan repayment calculator.

Can a guarantor help me take out a loan for tradies?

Yes – opting for a loan with a guarantor (or getting yourself or another company director to provide a personal guarantee) can help your chances of approval and potentially increase your borrowing power and lower your interest rate. This all comes down to the level of risk your lender feels in approving your loan, with guarantors and guarantees reducing that risk.

When can I submit my application?

Because the application process is 100% online for unsecured business finance through our partners, you can apply at whatever time suits you. Application portals are open 24/7, giving you the opportunity to send it directly through to your lender at any time of day or night. Alternatively, if you’re seeking out a secured equipment finance deal, you can apply directly with Savvy and one of our friendly consultants will help you lock in the loan you’re looking for within 48 hours.

What is a line of credit business loan?

A line of credit is another type of business finance whereby borrowers are approved to withdraw funds up to a certain limit whenever they need. They’re favoured by many business owners, as they provide a more flexible source of funding rather than a single lump sum. However, interest rates are generally higher on these loans.

Are there any tax benefits associated with tradie finance?

Yes – the interest charged on your unsecured tradie finance deal is able to be claimed as a tax deduction, which can reduce the cost of financing considerably. It’s important to note, though, that you can only claim interest on tax; the principal portion of your repayments (the contribution to your loan amount) isn’t tax-deductible. If you’re looking to claim the interest on your loan, you should always keep detailed records of your loan payments. If you’re leasing equipment, up to 100% of your repayment can be claimed on tax.

Will I be able to get approved for a loan if my lender is in a different state to my business?

Yes – if you run a business trading in Melbourne and need a loan, you can apply to an online lender and get approved. Just because your lender may be based in Perth, for instance, doesn’t mean you’ll have to apply for a Perth business loan as a result.