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Secured Business Loans

A Secured Business Loan is provided for a fixed period of time and is backed by the borrower nominating an existing asset as collateral. Secured Business Loans tend to have lower interest rates and longer loan terms compared to other finance options as there is less risk for the lender.

Secured Business Loans: Eligibility Criteria

Lending criteria may vary lender to lender, so we take the time to understand what your business needs. Lenders will evaluate whether the asset you have pledged as collateral is enough to cover the value of the loan in the event of a default. They will also assess suitability based on the health of your business, and may require you to provide a combination of the below as part of the application process:

FAQs

Frequently Asked Questions

You can use commercial or residential property; some lenders will also accept vehicles, equipment, or other valuable items.
For a Secured Business Loan you can borrow from $10,000 up to $500,000.
Some of the benefits are:
  • You won’t pay as much interest
  • The repayment terms are longer
  • Loan amounts can be higher
Whilst Secured Business Loans require an asset used as collateral for your loan, an Unsecured Business Loan doesn’t require security. By providing an asset you are rewarded with lower interest rates and longer repayment terms, whereas an Unsecured Business Loan typically have higher rates and shorter terms.
Interest rates vary between different providers; the interest rate is also subject to your bank conduct and credit score.
Funds can be settled within 24 hours, although all time frames vary with different lenders.

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