Jennifer Hart
Director of Everyday Cashmere
Short-term business loans up to $400k in Australia
Spotcap's loans have helped hundreds of Aussie businesses to keep growing
Unsecured, without collateral
Free non-committal application
Decision within 1 working day
No fees for repaying early
What is different about a Spotcap short-term loan?
Unsecured - no collateral required
Free, non-committal application
Decision in one working day
No penalty for repaying early
Finance growth opportunities
Boost your working capital, cover unexpected expenses, or purchase inventory to keep moving forward
Up to $400K of business finance
Only pay interest on what you use
Straightforward paperless application
Funds available within 24 hours
We’re trusted by thousands of growing businesses
Jennifer is one of many Australian business owners who has used Spotcap to grow. Read more about other aspirational SMEs we have financed
"Spotcap finance enabled us to grow and having that emotion that someone believed in your vision just left us feeling great"
Let your business benefit from Spotcap's unsecured lending
It’s your business, so you choose how to use the funds. Our short-term loans are a versatile solution for many business activities.
Protect your cash flow
Give your business financial security by preparing for unforeseen expenses.
Refresh your inventory
A short-term loan can supply the working capital needed to restock your inventory when you’re preparing for a busy new season.
Bridge receivables
Cover periods between funding rounds and keep business running smoothly.
Grow your product range
Extend your product range by funding purchasing. You could adjust an existing product for a new market, or start selling something entirely new.
Enter new markets
Reach out to new customers, explore new ideas or run a targeted marketing campaign with the help of flexible financing.
Boost your reputation
A short-term loan can fund campaigns dedicated to improving how your business is perceived by customers, partners or the media.
Qualification and eligibility criteria
What we look for in applications
Australian business
Annual turnover of at least $200k
Trading for at least 18 months
Profitable business
How to apply for a short-term loan
An online application can be completed in as little as 15 minutes
Tell us about your business
Answer a few questions and provide some basic data to complete your application
We review your application
Our team of credit experts will review your application and we’ll be in touch with a decision
Accept your offer
Once approved, you have immediate access to your funds. Choose when to have the funds deposited to your account
How does a Spotcap short-term loan work?
Below is an example of Spotcap’s approach, focused on simplicity and flexibility
1. APPROVAL
When your application is approved, we can offer you a line of credit. Your finance will be available within 24 hours
2. DRAWING DOWN
When you drawdown on your credit line we create a separate business loan. Each loan has the same interest rate
3. COMMITMENT PERIOD
Your line of credit is available for 1 to 3 months. During this time, you may drawdown as much or as little as you need
4. REPAYMENT
Each loan is repaid monthly over an amount of time (between 1 and 24 months). After the first month has elapsed, you can repay your loan early without penalty
5. RESCORING
Upon expiration of your credit line, you may request a rescore. We reassess your information and determine if we can offer a larger sum of finance
Payment Calculator
- Amount$ 100,000
- Time12 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.
Understanding short-term lending
What exactly is a short-term loan?
- Short-term business loans are designed to be repaid over a relatively small period of time. Their purpose is to meet a company’s immediate financial needs. These may include making seasonal payments, bridging gaps in cash flow or purchasing equipment.
- In contrast to their long-term counterpart, short-term loans can often be generated more quickly and easily. They may or may not be tied to an asset, with some lenders asking for some sort of collateral as security. Alternatively, lenders might ask for a personal guarantee.
- Part of the essence of a short-term loan is the relative speed in which it can be processed. As a result, this type of finance is versatile, suiting fast-moving commercial environments.
Why is access to short-term credit important?
- Many SMEs turn to short-term loans to bridge gaps in funding and keep business up and running, especially during seasonal fluctuations, high-growth periods and temporary downfalls in demand.
- A short-term loan is a good option for businesses that require fast access to cash to grow and manage expenses. This type of finance is designed to provide you with the working capital that would help meet immediate business needs.
- For example, to make hires, ease your cash flow, purchase equipment or machinery, or cover emergency costs. Short-term loans can help small businesses manage unforeseen costs or take business opportunities they would otherwise miss.
Small and medium sized businesses and short-term loans: A historical problem
- As core drivers of innovation and employment, small businesses are central to macroeconomic health. A significant number of SMEs would use short-term finance to grow if it was available to them, but they often struggle to obtain it from traditional lenders. Quick access to finance has long been a problem for Australian small businesses that have survived turbulent economic and market conditions.
- Application processes have become more rigorous, with increased financial regulation and stricter business performance indicators. Traditional financial methods make it difficult to quickly acquire loans when businesses need them. At the moment, securing funding with traditional financial channels can take as long as two months, and to apply you often need five years of financial documents–not to mention many hours of meetings and signings just to complete the application.
- Fortunately, the advent of alternative finance has diversified the financial options available to SMEs. Technological innovation has created an opportunity for businesses to pursue their plans in smarter and cheaper ways.
Our customer reviews
How to apply for a loan from Spotcap
Tell us about yourself and your business
Receive your decision within one working day
Accept your offer and receive your funds
Qualification criteria
Australian business
Annual turnover of +$200k
Trading for at least 18 months
Profitable business
Business loan calculator
Monthly repayment
$9,168
- Amount$ 100,000
- Time12 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.