A small business loan gives you a lump sum upfront: fixed repayments, predictable budgeting and the funds to move on the next opportunity. Apply for a business loan online in 2 minutes and we match you to the right business loan lenders from a panel of 50+, unsecured under $150K.
Last reviewed: 31 October 2026 · Written by John Pierre Saliba, Director, OverdraftMe
Reviewed by John Pierre Saliba on 31 October 2026. Indicative only, subject to lender assessment.
Thinking about a business loan or overdraft? The best time to apply is today, before you need it. Decisions from one hour, based on 6 months of business bank statements. For Australian businesses with an ABN.
John Pierre Saliba, Director, OverdraftMe. More short answers on YouTube
Need funds urgently? See fast business loans - decisions from 1 hour, same day funding in many cases.
Both products serve different needs. Here's how to know which one suits your situation.
You receive the full approved amount upfront and make fixed weekly repayments. Best when you have a specific planned investment and want predictable outgoings.
Draw what you need, repay, draw again. Only pay interest on what you use. Best for ongoing cash flow management and having a financial buffer on hand.
Not sure which one? Take the 60-second finance quiz, or tell us your situation and we'll recommend the right product. Talk to us →
We handle the entire process - from matching you to the right lender through to settlement.
Fill in a short enquiry - takes 2 minutes. Tell us your business, how much you need, and what it's for. No credit check at this stage.
John reviews your details and matches you to the most suitable lender from our panel of 50+. We know which lenders suit which profiles.
We submit the application and liaise with the lender on your behalf. Most clients receive a decision within 24 hours and funds the same day.
Here's what lenders generally look for. Full policy detail is in our FAQ.
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Business loan interest rates in Australia range from 14.55% to 35% p.a. for unsecured term loans through non-bank lenders, and 5.99% to 12% for secured bank loans. The rate depends on security, credit profile, revenue, trading history, and term length.
Unlike overdrafts where interest is only on the drawn amount, a term loan charges interest on the full balance from day one. Rates tend to be slightly lower than overdraft rates because the lender has repayment certainty. Full rate comparison 2026.
All interest is tax deductible. At 25% company tax, 18% effectively becomes 13.5%.
Choose a loan when: You're buying equipment, a vehicle, funding a fitout, purchasing a business, or covering any one-off expense with a known amount.
Choose an overdraft when: Your cash flow needs are ongoing and unpredictable - payroll, suppliers, BAS, seasonal gaps.
Many businesses use both. Full comparison.
Most small business loans through the panel are short term: a lump sum repaid weekly or monthly over 3 to 36 months, sized at one to two months of turnover. A shorter term means a higher repayment but less total interest; a longer term does the reverse. On $50,000 at an indicative 18% p.a., 12 months costs about $1,052 a week and roughly $4,700 in interest, while 24 months is about $573 a week and roughly $9,600 in interest. Run your own figures in the business loan calculator. If the money is needed today rather than this month, see fast business loans.
Business loan lenders in Australia split into banks, which price from about 6% p.a. but want property and full financials, and non-bank lenders such as Prospa, Moula, Lumi, Shift, Bizcap, Banjo and Dynamoney, which price from 14.55% p.a. and decide from 1 hour on bank statements. OverdraftMe compares 50+ of them on one application with one credit enquiry, and the lender pays our fee, so the service is free to you. See how a business loan broker works.
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