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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.
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. .
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
Jacqui was highly impressed with the quick turnaround time and the professional service provided by Broc Finance and left us a flying testimonial on google.
The success in facilitating the funds just in time is a testament to the importance of having access to quick and flexible business loans. In today’s competitive business environment, it’s essential for companies to have access to funding that can help them navigate through challenging times and seize new opportunities.
Broc Finance is committed to providing small and medium-sized businesses with the financial support they need to grow and thrive. Our team of experienced professionals understands the challenges facing businesses today and is dedicated to providing innovative financial solutions that meet their unique needs.
Whether you need a short-term business loan, a line of credit, asset finance or any other type of financing, Broc Finance can help. They are experts in structuring complex deals with flexible repayment terms, competitive interest rates, and fast approval times to ensure that your business can access the funding it needs to succeed.
Contact Broc Finance today to learn more about their business financing solutions and how they can help your company achieve its goals. With their support, your business can thrive and reach new heights of success.
To get an unsecured business loan, you need to meet some basis qualification criteria. To be eligible for an unsecured business loan, you must:
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.
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.
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.
Contact us today and discover how our expertise can help your small business thrive.
CALL US
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