Jennifer Hart
Director of Everyday Cashmere
Unsecured business loans up to $400k in Australia
Unsecured loans offer freedom and flexibility that other forms of business finance find hard to match
Unsecured, without collateral
Free non-committal application
Decision within 1 working day
No fees for repaying early
What's different about Spotcap unsecured loans?
Unsecured - no collateral required
Free, non-committal application
Decision in one working day
No penalty for repaying early
Finance growth opportunities
In order to innovate to their full potential, businesses need access to finance. A loan from Spotcap can help you grow
Unsecured finance solutions up to $400k
Repayment schedules up to 24 months
Only pay interest on what you use
Paperless online application
We’re trusted by thousands of growing businesses
Don’t just take our word for it. Read about aspirational businesses 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 unsecured business loans are a versatile solution for both long and short-term activities.
Short term:
Manage cash flow
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 unforeseen payments.
Refresh your inventory
Unsecured loans can supply the working capital needed to restock your inventory when you’re preparing for a busy new season or broadening your product range.
Bridge receivables
A business loan can be the working capital you need to cover periods between funding rounds
Long term:
Expand your product range
An unsecured loan can help 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 a longer term unsecured loan.
Enhance your reputation
An unsecured loan can fund campaigns aimed to improve 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 $200k
Trading for at least 18 months
Profitable business
How to apply for an unsecured business loan
An online application can be completed in as little as 15 minutes
Tell us about your business
Answer a few questions and provide some basic data to complete your application
We review your application
Our team of credit experts will review your application and we’ll be in touch with a decision
Accept your offer
Once approved, you have immediate access to your funds. Choose when to have the funds deposited to your account
How does an unsecured business loan work?
Below is an example of how an unsecured business loan can work. It illustrates Spotcap’s approach, which is focused on simplicity and flexibility
1. APPROVAL
When your application is approved, we can offer you a line of credit. Your finance will be available within 24 hours
2. DRAWING DOWN
When you drawdown on your credit line we create a separate business loan. Each loan has the same interest rate
3. COMMITMENT PERIOD
Your line of credit is available for 1 to 3 months. During this time, you may drawdown as much or as little as you need
4. REPAYMENT
Each loan is repaid monthly over an amount of time (between 1 and 24 months). After the first month has elapsed, you can repay your loan early without penalty
5. RESCORING
Upon expiration of your credit line, you may request a rescore. We reassess your information and determine if we can offer a larger sum of finance
Payment Calculator
- Amount$ 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.
In depth: Unsecured business loan vs. unsecured line of credit
An unsecured business loan and an unsecured line of credit are alternative funding options based solely on a business’s creditworthiness, history and financial condition. These types of financing don’t require any collateral or personal guarantees, making them an attractive solution for healthy small and medium sized businesses that don’t want to tie up valuable assets.
Business loans
Business loans operate as term loans, meaning they provide a single amount of credit that needs to be returned within a certain timeframe. Even if the borrower doesn’t use all of the funding, they are obliged to repay the full amount with interest.
- Business loans are generally better solutions for long-term commitments (2+ years) when the borrower knows exactly how much additional financing is required and why. For example, if a restaurant owner wants to change location and needs funding to purchase property, a business loan is better suited to them.
When it comes to interest rates, business loans operate with fixed numbers and monthly repayments don’t fluctuate. While this makes it easier for businesses to plan ahead, it also means that their repayments can be higher in the long run compared to other financing options.
Business lines of credit
- Business lines of credit give a borrower more flexible access to funding. A lender agrees on a maximum amount of credit available to a business (e.g. $100k). From this, a borrower can withdraw as much or as little as they like, according to their business needs – a process known as ‘drawing down’.
Obtaining a line of credit is more useful for shorter timeframes of up to 12 months – for instance, when businesses are experiencing spikes in growth or demand and would like to have available funds for unforeseen expenses. This is why it is sometimes referred to as a ‘safety net’ to cover a shortage of working capital.
- With a business line of credit repayment amounts vary month by month. Businesses pay interest on the amount of credit that’s outstanding. The more that’s paid back, the smaller the monthly payments become.
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.