Asset finance alternatives for Australian SMEs

Take advantage of this versatile solution to fund new assets - ideal for both established and fast-growing businesses

Short term business loans up to $250k for Australian SMEs

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Don’t waste time with unnecessary forms and meetings.

For any purpose

Flexible, controllable funding, tailored to your specific needs.

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Competitive rates and charges, with no hidden costs.

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Your application is processed promptly, rigorously and securely.

What is asset finance?

Business assets come in all sizes and shapes, and some are even invisible. Whether it’s a brick-and-mortar store, a specialist piece of machinery, or a patent for a process, all assets have something in common: a value, against which a business can raise money.

Asset finance, something known as a chattel mortgage, is where a lender agrees to lend and the debt is secured on a named asset. If the borrower defaults on their payments, the lender takes the asset.

This type of finance can come in various forms. A business might lease an asset, getting the benefit without buying it outright. Other forms of asset finance permit a firm to borrow against the value of its existing assets.

What is asset finance?

Business assets come in all sizes and shapes, and some are even invisible. Whether it’s a brick-and-mortar store, a specialist piece of machinery, or a patent for a process, all assets have something in common: a value, against which a business can raise money.

Asset finance, something known as a chattel mortgage, is where a lender agrees to lend and the debt is secured on a named asset. If the borrower defaults on their payments, the lender takes the asset.

This type of finance can come in various forms. A business might lease an asset, getting the benefit without buying it outright. Other forms of asset finance permit a firm to borrow against the value of its existing assets.

How does a Spotcap unsecured loan compare with asset finance?

A typical asset finance arrangement allows you to make full use of a business asset without paying for it upfront. You effectively pay as you go, but should you stop paying, the asset could be taken from you.

The big difference between asset finance and a Spotcap loan is that our solution lets you stay in control of your assets, and therefore your business. We make it easier for you to run your business as you want to.

The flexibility of a Spotcap loan, when compared to traditional asset finance, also extends to repayments. If you can repay early, we don’t charge you any penalties and you save on interest costs. Ours is designed to be a convenient, versatile business loan solution.

When can a Spotcap business loan act as an alternative to asset finance?

  • When you’re buying new equipment

    Every time you buy business equipment funded by asset finance, there is a direct connection between the loan and the asset. Our unsecured loan eliminates this, putting you in control of how you use your assets

  • When you want to release capital from an asset

    Sale and leaseback is a popular way to release the value of cash tied up in an asset. Our unique approach to assessing the financial condition of your business could give you the same finance using a quicker, simpler process, and without using your assets as collateral

  • When you’re upgrading your systems

    Asset finance often funds the purchase of equipment that’s critical to your business. A Spotcap loan can do the same job, providing the short-term finance that allows you to buy that vital asset and put it to work

  • When you’re considering a lease arrangement

    A flexible unsecured business loan could be more cost-effective than a lease arrangement, depending on your specific needs and circumstances. Because we offer early repayment without penalties, you could save on borrowing costs

  • When you want to reach a new market

    Whether you need a new vehicle to serve a new area, or a new machine to create a new product, asset finance has been the traditional way to fund it. This is where a Spotcap loan could be a more versatile solution

Key points about the Spotcap alternative to asset finance

Loan amount

Our alternative to asset finance could give you a loan of between $5k and $250k

Loan terms

Once approved, we give you access to a line of credit. Withdraw what you need for your asset purchase and then repay, typically over 6 to 12 months

Criteria to qualify

You can borrow for any purpose, including asset purchase. A Spotcap loan is available to businesses registered in Australia, with an Australian online bank account, and a minimum turnover of $200k. The business also needs to have been trading for at least 18 months

Interest rates

Market conditions and your recent business performance will determine the rate of interest we charge. Use our business loan calculator to estimate monthly repayments and interest costs

Business loan repayment calculator

  • Amount
    $ 125,000
  • Time
    9 months

$14,951

Monthly repayment

For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly repayment

$14,951

  • Amount
    $ 125,000
  • Time
    9 months
For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

How to apply for your small business loan

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Sign up

Applying for our business loan starts with the entry of basic personal and business information, all input online

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Complete the application

The application can be completed in just five minutes, when you give us read-only access to your accounting system and bank account

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Get approval

When you are approved, allow one working day to gain access to your business loan