When unsecured business finance fits
Best for short-term working capital, equipment, marketing or bridging a tax bill. Not the right tool for long-term capital purchases — a secured loan or commercial mortgage will be much cheaper.
What lenders want to see
Specialist business lenders (e.g. Bizcap, Prospa) typically ask for:
- 6+ months of trading
- 3–6 months of business bank statements
- GST returns (if registered)
- Director ID and personal guarantee
Compare against bank overdrafts
If you bank with one of the big four and have property security available, a bank overdraft or term loan will almost always be cheaper. Unsecured specialist finance shines on speed and accessibility, not on rate.
