Business Lines of Credit of up to $250,000 in Australia

Our unsecured business line of credit helps small and medium-sized businesses stay competitive as they innovate and grow. We helped over one thousand firms, from long-established businesses, to bold new companies offering a proven product

Unsecured, without collateral

Free non-committal application

Decision within one working day

No fees for repaying early

Am I eligible?

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

A business line of credit is a sum of credit made available by a lender. Up to an agreed limit, the borrower can draw down chunks of credit when they wish, with each draw down becoming a separate business loan.

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

If you only draw down some of the funds, you can withdraw the remainder when and if you need it. No interest is charged on your line of credit until you draw down some or all of the funds.

Unsecured business line of credit in Australia

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

A business line of credit is a sum of credit made available by a lender. Up to an agreed limit, the borrower can draw down chunks of credit when they wish, with each draw down becoming a separate business loan.

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

If you only draw down some of the funds, you can withdraw the remainder when and if you need it. No interest is charged on your line of credit until you draw down some or all of the funds.

What is a business line of credit? and when and where to get it?

When and where can I obtain a line of credit for my business?

When and where you can obtain a business line of credit depends on the type of lender you approach. Obtaining a business line of credit from an online lender is typically faster than going through a traditional insitution such as a bank, who can take weeks or months to process an application. Funds from a Spotcap line of credit can be available to you within one working day.

Spotcap is fully unsecured, which means we don't require assets to be secured against the funds we lend. From time to time however, we may require a personal guarantee.

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 for a variety of long, and short term activities:

Short term lending

  • Manage payroll

    Making payroll regularly and punctually can be difficult for small and medium sized businesses that are growing. A line of credit can bridge cash flow gaps and help you make payroll.

  • 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.

  • Manage cash flow

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

Long term lending

  • 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.

  • Expand 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.

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

What size credit line am I eligible to receive?

Australian businesses are eligible to receive a credit line of up to $250k.

What are the line of credit terms?

Once approved, 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.

How do I qualify for a business line of credit?

Spotcap business line of credit is 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.

What are the business line of credit interest rates?

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

What are the benefits of a business line of credit?

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Easy access to finance as, and when, you need it

A business line of credit allows you to easily access finance when you really 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 easy access to finance, you will only ever pay interest on what you use. So, you can rest easy knowing you have access to funds as you need them - and won't pay for anything you don't need.

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.

Important questions

  • When will I receive my line of credit?

    Once your application has been approved, your funds could be with you as soon as the next working day.
  • How do I pay back my business line of credit?

    You pay a monthly amount over an agreed amount of time. However, there are no penalties for repaying earlier your credit line earlier.
  • Which fees apply to a business line of credit?

    You will pay interest on the amount(s) you draw down from your credit line, plus a one time fee when you first use the line.
  • How much will the repayments be?

    For example, a credit line of $150k with a 1.8% interest rate and 2.0% one time fee, repaid over 6 months, would require repayments of ~$25,000 per month.
  • What happens when my credit line matures?

    You may submit up to date business data and we can reassess your application.

Line of credit payment 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 business line of credit from Spotcap?

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Sign up

Enter your basic personal and business information online, in order to begin the application process

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Complete the application

To make the process simpler, provide us with read-only access to your online bank account and accounting software to complete your application

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Get approval

Having been approved, you’ll usually have access to your business loan within one working day