Helping Small Businesses Grow

At Broc Finance, we are committed to helping SMEs thrive by providing them with the financial support they need. We understand the challenges businesses face today and are dedicated to providing innovative financial solutions that meet their unique needs.

Our extensive network of 50+ lenders, expertise and commitment to customer satisfaction sets us apart from other brokers in the industry. Whether you need a short-term business loan, a line of credit, or any other type of financing, Broc Finance can help.

Contact Broc Finance today to learn more about our business financing solutions and how we can help your company achieve its goals. With our support, your business can thrive and reach new heights of success.

Meet the business

Jacqui owns is a small software and It Solutions company based in Victoria, Australia. They are solution architects engaged by high-risk industries to equip a diverse workforce.

Software & IT Services Industry

Victoria

The challenge

The company attempted getting a business loan through a few sources but were unsuccessful. She urgently needed the funding before the Christmas break which was starting the very next day and that’s when she was referred to us by her friend who happened to be one of our existing happy clients. .

The solution

Date

December, 2022

Funded

$100,000

Turnaround Time

4 hours

Product

Unsecured business loan

Term

24 Months

Since there was no time left for experimentation and looking around, Broc Finance with their expertise were able to hit the bull’s eye by finding the right fit lender who were not only able to approve the requested loan amount but also funded it the same day. The loan provided her with the much-needed breezing fund to continue its operations

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Learn more about unsecured business loans

What do you need to be eligible?

Must have an active ABN

Business is GST registered

Trading for at least 6 months

Read more or speak to an expert!

Learn More

What are the benefits of Unsecured Business Loan?

Benefits

No need of security to get an unsecured business loan.

Unsecured business loans are the quickest way to access funds.

Low Doc Approval: You can get an unsecured business loan based on last 6 months bank statements and Identification proof in most of the cases.

No risk of losing any asset owned.

Timely repayment of your unsecured business loan helps build a strong credit history, which will help get competitive interest rates in the future.

Unsecured business loans are a major cash flow booster for the overall growth of the business.

Real results with real people.

Niteesha Nagowah

Niteesha Nagowah

We had an incredible experience working with Saroj from Broc Finance. He is incredibly knowledgeable, responsive, and guided us through the purchase of our company vehicle with expertise. The attention to detail and commitment to finding the best possible options truly set him apart. Highly recommend his services for anyone navigating the complexities of obtaining a finance. Thank you again for outstanding assistance.
vishal srivastava

vishal srivastava

We have used Broc Finance over last 2 years for various business line of credits and vehicle loan. Broc finance have been very professional in this journey. They have understood our needs as business and catered the solutions as per requirement . They look around in market and get one the best financial solution for the business be at vehicle of line of credits . I would strongly recommend the business for there services
Nasir sabiry

Nasir sabiry

Thank you very much in helping me with financing a car SAS. You have been very professional and responsive every time I needed information. Fully recommend to any looking to finance a car.
Ajay Kanumuri

Ajay Kanumuri

I would strongly recommend. Saroj Shah helped to get my loan with in span of three days. He was very supportive and clearly explained the loan process.
Atulkumar Patel

Atulkumar Patel

I don't want to miss this opportunity to say About Saroj Work that he just made it impossible job into possible , I have got loan of 1.5 million event though I have very low credit score . Great work , and highly recommend for any kind of loan issues.
Tajinder Kumar

Tajinder Kumar

For those seeking a trustworthy and dependable financial broker, I would like to recommend Broc Finance. While their fees may be slightly higher compared to other brokers, I found that their personalized approach made it worth it. Broc Finance took the time to understand my specific needs and goals and tailored their services accordingly. Additionally, their prompt availability to answer any questions or concerns was greatly appreciated. Overall, if you're in search of comprehensive and professional financial advice, Broc Finance is an excellent option to consider.
Scott Filby

Scott Filby

Excellent experience with the service of Saroj! He did all the hard work and helped me find what I required. Saroj offered excellent suggestions and went the extra mile with his advice, which won my respect and helped in achieving the outcome required.
Mai Yang

Mai Yang

Absolutely wonderful service! Saroj was amazing with keeping us up to date with our loan application which was approved quickly without any hassle. I would definitely recommend Broc Finance!

Have questions? Talk to a specialist!

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FAQs about Unsecured Business Loan

To get an unsecured business loan, you need to meet some basis qualification criteria. To be eligible for an unsecured business loan, you must:

  • Have an active ABN;
  • Be operating for more than 6 months; and
  • Be turning over more than $5,000 per month in last 6 months.

With the advent of technology, unsecured business loan application has become simple and paperless without any hassle to take any printouts. All you need is to submit some basic details related to your business by completing the online  application form and last 6 months bank statement of your business through a secured link provided by us.

Typically, unsecured business loan max out around $300,000 however, some small business lenders can offer up to $500,000 for a strong business. The offering may differ from business to business depending upon factors like existing financial strength, cash flow, industry, credit scores etc.

In most of the cases, for unsecured business loan up to $150,000 you just need to submit 6 months bank statement and a valid Identification proof to get an approval.

For complex and large ticket loans above $150,000, you would be required to submit the financial statements, BAS and ATO transaction statements as well.

It all depends on the complexity of your case. You may get the funds into your account within 3-4 hours as well. On average it generally takes 24-48 hours to get an unsecured business loan approved.

The interest rate charged by the lenders differs from case to case depending up 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 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.

Generally, unsecured business loans are for shorter term and can be anywhere between 3 months – 36 months. In most of the cases, unsecured business loans are offered for a 12-month period.

Generally, banks do not offer unsecured business loans as they require security in any form to back the loans. There are various non-bank lender and fintech companies who specialize in providing business loan to small businesses. We are empaneled with most of the major lenders operating in this space. Contact us to know more.

Though you do not need to be asset backed for an unsecured business loan, a lender would require personal guarantee from director/promoter of the business to mitigate their risks to an extent.

Lenders would run a credit check only after obtaining a consent from you.

With advancement in technology, submitting a bank statement has become super quick and easy without compromising the security. On receipt of the loan application, we would provide you with a safe and secured 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 dishonors, 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.

An unsecured business loan may not always be the right option for your business as you may have higher funding requirements, be looking for cheaper interest rates, or looking for a more flexible business loan product. There are various alternative business loan options which we can help you with. Some of the popular options are secured business loan, business line of credit, debtors finance and invoice finance facilities. Please reach out to us on 1300 253 041 or send us a message. One of our lending specialists would get in touch in no time to assist you.

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 score.

We would be happy to answer, if you have any other questions. Please contact us.