Online business loans of up to $400k for Australian SMEs

Spotcap is an online lending specialist. We offer paperless applications that take as little as five minutes, allowing you to focus on what really matters – your business.

Unsecured, without collatoral

Free non-committal application

Decision within one working day

No fees for repaying early

What is an online business loan?

An online business loan is a type of finance that is issued electronically. The facility is transferred to a bank account, allowing fast and easy access to funds when a business needs it most. Digitising the process makes this form of finance much more accessible compared to traditional funding options, allowing businesses to have access to their business loan in as little as one working day

As secure as a bank. Read more about Spotcap security here.

What do Spotcap clients use online business loans for?

  • Cash flow management

    Dealing with shortfalls of cash in the business

  • Asset finance

    Purchasing new assets to increase efficiency

  • Purchasing inventory

    Increasing stock to meet increased demand

  • Hiring more staff

    Boosting power & productivity with additional staff

  • Invoice finance

    Make purchases when they’re most essential

  • Strengthen your presence online

    Fund a strong web presence to strength your online operations

Key information about Spotcap online loans

What size loan am I eligible to receive?

Australian businesses are eligible to receive an online business loan of up to $400k.

What are the business loan 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 loan?

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 loan 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.

FAQs on Spotcap online business loan

  • How will I receive my business loan?

    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 loan?

    You pay a monthly amount over an agreed amount of time. However, there are no penalties for repaying earlier your credit line earlier.
  • How much will the repayments be?

    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.

Online business loan repayment calculator

  • Amount
    $ 100,000
  • Time
    12 months

$9,168

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

$9,168

  • Amount
    $ 100,000
  • Time
    12 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 Spotcap's unsecured business loan

signup-gradient

Sign up

Enter basic business and general information to apply for a short term small business loan

connect-gradient

Complete the application

Upload financial statements or link your business bank account and accounting software to finalise your application

approved-gradient

Get approval

Within 24 hours of the application being submitted, you'll have word on your finance approval. Now all you have to do is start putting the loan to work in your business

Information that concerns businesses who are looking for online finance

How does an online business loan compare to a traditional bank loan?

In terms of dealing with the needs of SMEs, traditional banks are outdated. By failing to meet the needs of Australian companies, a lending vacuum has been created. After the GFC, banks became more cautious about who they were lending to and how much they were lending. The resulting underserviced market allowed alternative lenders like Spotcap to uniquely meet the needs of SMEs.

Spotcap offers online business loans to help businesses grow. These sort of loans mean that SMEs have access to finance quicker than ever and can seize opportunities in an instant. A fully digitalised application allows businesses to apply for finance quickly and easily. An application is free and non-committal.

Working capital loans of up to $100k in Australia

How does an online business loan compare to a traditional bank loan?

In terms of dealing with the needs of SMEs, traditional banks are outdated. By failing to meet the needs of Australian companies, a lending vacuum has been created. After the GFC, banks became more cautious about who they were lending to and how much they were lending. The resulting underserviced market allowed alternative lenders like Spotcap to uniquely meet the needs of SMEs.

Spotcap offers online business loans to help businesses grow. These sort of loans mean that SMEs have access to finance quicker than ever and can seize opportunities in an instant. A fully digitalised application allows businesses to apply for finance quickly and easily. An application is free and non-committal.

What is an unsecured online loan?

An online unsecured loan is a tool businesses can use to access funds. Businesses often use this type of loan to boost growth while avoiding risking personal and business assets. Spotcap is fully unsecured, which means we don't require assets to be secured against the funds we lend.

Our team of expert underwriters and unique method of risk assessment allows us to offer unsecured loans. When you apply, your financial data is analysed by our sophisticated algorithm, supported by our finance experts.

Online loans allow for a quick and effortless process that is much quicker than traditional methods. Spotcap applications are completely paperless and require no meetings or phone calls. Applications can take as little as 5 minutes, meaning your business can focus on what really matters.