Move forward with a business line of credit

Bypass the complexity of traditional lenders with our practical approach to business loans. Apply online to borrow between $10k and $250k

Applying is easy

Our online application can be completed in as little as five minutes. We don't ask for any paperwork or set up unnecessary meetings.

We’re right for you

We offer a versatile loan solution for your business, with flexible repayment schedules of up to 12 months.

We help you grow

SMEs are the backbone of our economy, which is why we make it easier to access the finance you need to grow.

Peace of mind

Spotcap uses cutting-edge technology to assess your application and business financials with a system that is as safe as a bank's.

What is a business line of credit and how does it work?

The advantage of a line of credit over a standard business loan is that you have ongoing access to finance from which you can borrow when you need to. You only pay interest on what you borrow.

A line of credit from Spotcap sets out the maximum loan amount available to you. It’s your choice when, and how much, of that amount to take. When you do draw down some or all the finance, it becomes a business loan.

If you only draw down some of the funds, you can come back for more later if you need them. Each drawdown becomes a separate loan. You manage your line of credit and loans through an easy-to-use online dashboard.

Unsecured business line of credit in Australia

What is a business line of credit and how does it work?

The advantage of a line of credit over a standard business loan is that you have ongoing access to finance from which you can borrow when you need to. You only pay interest on what you borrow.

A line of credit from Spotcap sets out the maximum loan amount available to you. It’s your choice when, and how much, of that amount to take. When you do draw down some or all the finance, it becomes a business loan.

If you only draw down some of the funds, you can come back for more later if you need them. Each drawdown becomes a separate loan. You manage your line of credit and loans through an easy-to-use online dashboard.

Business credit lines up to $250k for Australian businesses

Why is a line of credit better for my business?

A Spotcap line of credit gives you flexible access to working capital that you can use for any business purpose. Because you’re only charged interest on the amount you choose to borrow, you can set up a line of credit at no cost.

This flexibility makes a line of credit much more versatile than a traditional business loan. You’re in complete control of what you borrow and when. If you arrange a line of credit and then your circumstances change and you don’t need to borrow at all, it costs you nothing.

Another benefit of a Spotcap line of credit is that our unique, rigorous credit assessment process allows us to offer finance on an unsecured basis. We don’t ask for any security, including personal guarantees.

What can I use my credit line for?

It’s your business, so you choose how to use the funds we make available through a business line of credit. Use it to:

  • Upgrade your business-critical technology

    Increase productivity by purchasing new machinery, improving your finance or manufacturing software, or upgrading communication systems. A line of credit can give you a competitive edge with new business tools.

  • Invest in training your staff

    Keep your team current with the latest business skills, best practices and industry know-how. The benefits include improved customer satisfaction, staff retention and a positive contribution to profits.

  • Refresh your inventory

    A line of credit can supply the working capital needed to restock your inventory. This can make all the difference when you’re preparing for a busy new season or broadening your product range.

  • Expand your operations

    Moving into a new market or a new region can mean taking on extra people and premises, along with requiring extra marketing. A line of credit can supply the capital you need before sales from new customers start coming in.

  • Strengthen your presence online

    Digital marketing is hugely important to many businesses and requires staying current on the latest web technologies and practices. This is where a line of credit can make a difference, allowing you to fund a strong web presence.

  • Avoid a short-term cash crisis

    Having access to a line of credit can protect your business from short-term cashflow challenges. It can help relieve the pressure on your bank balance at times when you need to make major payments.

What are the benefits of a business line of credit?

  • Ongoing access to finance as you need it

    A business line of credit allows you to easily access finance, as and when you need it. You can use the funds for a range of purposes, including to purchase inventory, pay suppliers, fund repairs or run a new campaign.
  • Only pay interest on what you use

    Although a business line of credit offers ongoing access to finance, you will only ever pay interest on what you use. So, you can rest easy knowing you have access to finance as you need it.
  • Efficient online application process

    Unlike applying for a business credit card or a business loan from a traditional provider, it is fast and simple to apply for a business line of credit. The online application process can be completed in as little as five minutes, and once approved you can access the funds within 24 hours.

Spotcap's line of credit - what you need to know

A Spotcap line of credit is more versatile than other business loans. It’s repayable early, with no additional costs. You can also increase the amount you borrow by submitting new information about your recent business performance.

Loan amount

Help your business to move forward with a loan of between $10k and $250k.

Loan terms

On approval you’re given access to a line of credit. You choose how much of this to draw down and when, with each draw down being converted into a loan. The loan is usually repaid over 6-12 months, in monthly instalments.

Criteria to qualify

Spotcap business loans are available to firms operating in Australia with a minimum turnover of $200k, who have been operational for 18 months and have an Australian bank account.

Interest rates

The interest rate on your business loan will reflect market conditions and your recent business performance. Use our business loan calculator to estimate the interest rate and monthly repayments.

Line of credit 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 can I apply for a business line of credit

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Sign up

Enter basic personal and business information to apply for an unsecured small business loan.

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Complete the application

Link your business bank account and accounting software or upload financial statements to finalise your application.

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Get approval

Once your application is approved you can finance the next big opportunity for your business.