Small business loans

There’s a wide range of loans for small businesses to choose from, depending on your unique business needs.

Generally, the type of loan you choose is related to your purpose (e.g. cash flow) and the amount you need, rather than the size of your business. Small business loans operate in the same way as loans for larger businesses.

Your small business loan may be for as little as $10,000 or into the millions, it really just depends on your requirements and the type of business you’re running.

The main types of loans a small business owner may consider include:
  • Overdraft/working capital loan
  • Term loan
  • Line of credit
  • Cash flow finance
  • Hire purchase
  • Chattel mortgage
  • Leasing finance

Low doc loans for small business
Small business owners may also be able to utilise a low doc loan rather than a commercial loan, depending on their requirements and circumstances. Low doc loans are often used by self-employed borrowers.

Be aware that if you use a low doc loan for business purposes, that your home is usually the security for the loan this means that if your business does default on the loan, your home may be used to pay off the debt.

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