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A Quick Business Loan is a financial solution that provides you funds up to $250K with bare minimum documentation, without any security needed. It’s tailor-made for business owners who are in emergency situations and need quick fix to solve their financial pains & cash flow issues. It allows you to maintain your focus on your business activities without being disturbed, knowing that the loan application is taken care of by us.
As a small business ourselves, we know that small businesses don’t have a lot of time. Leveraging our long-term relationships with 50+ lenders in the industry, we have the expertise to negotiate the best loan terms for your business possibly within 2-4 hours.
To be eligible for Quick Business Loans, you need to meet the following criterion
| Borrowing Limits | |
|---|---|
| Loan Amount | $5k- $250k |
| Term | 3-36 months |
| Can be used for |
|
| Repayments | Daily/Weekly/Fortnightly |
| Security | Generally, no Security required |
| Pre-Approval Time | 2-4 hours |
| Unconditional Approval and Settlement Time | 4-8 hours |
| Low Doc Approval and Documents required |
|
| Interest Rates | Starts from 7.99% p.a. |
| Benefits |
|
Are you busy trying to keep up with your priorities? Studies showed that 93% of entrepreneurs take on multiple roles when they first started their ventures. Small business owners often wear a lot of hats and take on too many roles to keep their businesses up and running. Sometimes, it feels like your entire business is wrapped up in one person – yourself. It just seems impossible for you to even think about going through the lengthy process of loan application when you need the funds.
What if I told you our Quick Business Loans solution can help you secure the funds you need with a few basic documents within 2-4 hours?
And the best of all – the application only takes 1-2 seconds
If you are unsure of the loan amount you need, you can fill out the contact form for one of our lending specialists to get in touch and discuss your business loan requirements in detail.
Disclaimer: The calculation provided is for indicative purpose only. The interest rate and repayment may vary based on individual business risk profile.
Disclaimer: The calculation provided is for indicative purpose only. The interest rate and repayment may vary based on individual business risk profile.
Generally quick business loans are of short-term nature and max out around $250k.
Hence, generally you can get a quick business loan approved basis low doc. In most of the cases you would just require the following documents
To save your time, we have summarised the features and requirements of the most popular Quick Unsecured Loans to help you to make a decision. These loans are highly possible to be approved and get funded within 4-8 hours.
These loans are designed for small businesses that generally require quick hassle-free funding with the least documentation.
Having a bad credit score does not mean that you can’t get any loans approved.
Broc Finance has successfully helped multiple business owners to secure bad credit loans with ideal terms.
Still confused to determine the best-match loan for your business. Let our lending experts help you out!
“Unsecured Business Loan is one of the top approved financial solutions at Broc Finance”
Usually, small business owners are aware of the purposes of applying for a business loan. Every business loan is used differently, but generally, quick business loans are required to meet short-term stocking/working capital needs.
For instance, say if you have a seasonal business and you require immediate funds to stock goods, you can get a quick business loan to procure your goods and multiply your sales during the peak season.
As long as the business loan is expected to be used for business purposes, you’re entitled to apply for it.
If you are looking for short-term instant funding, a quick unsecured business loan is the right product for you.
Check the basic loan eligibility of your business as mentioned above
Once you complete your application form. We get in touch to discuss your business requirement and advice the documents required.
Once we get all the documents required, we login your application with the most suited lender and get the loan approval.
Although quick business loans are the perfect finance instrument to provide you immediate funds. However, there are a few vital things that one should always avoid while applying for a quick business loan to ensure the application goes smoothly.
Finding the business loan with the right rate, terms and amount could be stressful. To avoid any unwanted outcomes, we work with our customers to find the best-suited loan for their businesses and help them avoid these mistakes. Simply complete the application form or send us a message and one of our lending specialists will be in touch to discuss your financing requirement.
To get a quick unsecured business loan, you need to meet some basic qualification criteria. To be eligible for this business loan, you must:
The lenders understand the nature of urgency for small business owners. You may get a preapproval within 2-4 hours and the funds into your account within 4-8 hours as well.
The interest rate charged by the lenders differs from case to case depending on various risks associated with the business, like Industry, cash flow, credit history, asset ownership, and term of the loan.
For e.g. A borrower with poor credit history would be charged a higher rate of interest as compared to a borrower with a good credit history. However, in general, the interest rates typically range between 10-20% p.a.
Traditional Banks generally do not offer quick business loans. This is because they maintain a strict screening process for loan applications, which makes it a difficult and time-consuming process for a small business owner.
Opposed to Banks, there are various non-bank lenders and fintech companies who specialise in providing quick business loans to small businesses. Broc Finance is dedicated to assisting small businesses with an easy and streamlined process to obtain a quick business loan through its panel of non-bank cash flow lending partners with possibilities of financing within 24 hours. Please get in touch to know more.
A Personal Guarantee (PG) is a legally binding contract from the key person /owner of the business as individually agreeing to be personally liable if the business cannot repay the debt.
Though you do not need to be asset-backed for a quick unsecured business loan, a lender would require a personal guarantee from the director/promoter of the business to mitigate their risks to an extent.
Lenders would only run a credit check only after obtaining consent from you. This may be either at the time of application or after getting a preapproval on your loan.
The loan application is obligation-free and there are no application costs involved. You’ll be charged an origination fee only after your loan is approved and disbursed into your account. The origination fees differ from lender to lender and generally range between 2%-4% of the loan amount. The origination fee is a one-off fee and is on top of the normal interest charged on the loan amount. Please contact us if you wish to know more details.
With advancements in technology, submitting a bank statement has become super quick and easy without compromising security. On receipt of the loan application, we would provide you with a safe and secure link to share your bank statement with us. This process makes the loan approval smooth and fast as we can receive your bank statement within minutes and proceed with the loan approval process instantly.
Please note: With increasing fraud and forged documentation, lenders are no longer accepting PDF bank statements.
Generally, lenders consider the cash flow of the business to arrive at your borrowing power. They look into various other fields such as your credit score, past bank dishonours, industry, number of years in the business, age of the promoter/directors, existing personal asset/liabilities, etc. to make a lending decision on the file.
Getting a business loan with bad credit history could be tough and expensive; however, it’s not impossible. We have tie-ups with lenders who are happy to look at businesses that had a bad credit history in the past but have robust cash flow at present. Please get in touch with us for a free consultation.
At Broc Finance, we endeavour to get the most adequate facility suitable to the business requirements of our clients. In most of the cases logged in through us, we try to get an indicative offer from the lender for our client’s consideration before proceeding with formal application and consent to credit check. This approach helps our clients to avoid unwanted rejections and credit checks which can significantly impact their credit scores.
We would be happy to answer if you have any other questions. Please contact us
Contact us today and discover how our expertise can help your small business thrive.
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1300 253 041
EMAIL US
enquiries@brocfinance.com.au
Broc Financial Services Pvt Ltd.
ACN 648 088 304
Credit Representative number 540795 is Authorised under Australian Credit Licence Number 389328