What's different about a loan from Spotcap?
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How have businesses used a Spotcap loan?
There are a number of ways for mature startups to benefit from a business loan from Spotcap. These include:
What is a startup business loan?
With one in three Australians aspiring to set up their own business, it’s no surprise that we enjoy a vibrant entrepreneurial culture. But while so many Australians dream of running their own business, it can be hard to get the right funds when you want to go from a start up to an established player.
Because there’s so much uncertainty around a new venture, it can be difficult to access small business finance. Traditional lenders, such as banks, want to be confident that a startup can transform from a bold idea into a profitable operation.
The good news is that startups that can show strong revenue over their first 18 months and meet our minimum criteria are eligible for a loan from Spotcap.
Spotcap startup loan payment calculator
Spotcap loan for startups - what you need to know
Criteria to qualifyOur loans are available to businesses registered and operating in Australia, with a minimum turnover of $200k, that have been operational for at least 18 months and have an Australian online bank account
Loan amountYou could borrow between $5k and $400k, without giving security or personal guarantees
Loan termsOnce approved, our loan begins as a line of credit from which you draw down what you need. Each drawdown becomes a loan, repayable over 6 to 24 months
Interest ratesWe charge interest at a rate that reflects market conditions and your recent business performance. Our business loan calculator lets you estimate monthly repayments and interest costs
Is a startup business loan right for my business?
If your business has been operating for at least 18 months and you want to take it to the next level, an unsecured business loan could provide valuable working capital. Without new funding, your business could struggle to move forward.
The first year is a time of proving the concept, establishing a customer base, and developing a meaningful brand. Having achieved momentum, the challenge for a startup is to keep going and to keep growing. This is where Spotcap is making a difference, with our small business loans.
Spotcap business loans are suitable across a wide range of industries. We’ve helped hundreds of small businesses in Australia to grow, in sectors such as retail, manufacturing, construction, hospitality, agriculture and international trade.
Business loan calculator