Secured business loans
- Buy or Start a Business
- Buy Commercial Property
- Get Working Capital or Business Assets
Key takeaways
Popular with existing business owners who want the best rates
Property loans up to 80-90% LVR (sometimes more)
Can be suitable for new / start-up businesses (dependent)
What is a Secured Business Loan?
A secured business loan is one that is backed by security you provide against the loan (usually property or business assets of value).
By doing this, the lender reduces their risk, which allows them to offer you larger loan amounts and more favourable rates and terms (when compared to an unsecured business loan).
Eligibility for buying an established business, or line of credit
To be eligible for a Secured Business Loan, you generally need to:
- Have an active ABN
- Have been trading for more than 6 months
- Have an average monthly income over $5k
- Have an asset to offer as security
Book a meeting with our expert team to talk through your requirements and timeframes.
What about starting a new business?
If you’re starting a new business and don’t meet some of the requirements above, or have bad credit, we might still be able to help. There are lenders in our marketplace that offer Secured Business Loans without the need for a trading history or revenue, provided you have enough security to offer against the loan.
Book a call with our expert team now and we can walk you through your options.
Nadine Connell
Business Finance Expert
A quick guide to Secured business loans
(Disclaimer) – this information is general in nature. Talk to our lending specialists for specific information tailored to your unique needs.
Amount
Starting from $20k to $100m+
Interest rates
Ranging 5.2%-15% p.a.
Loan terms
Up to 30 years
Pre-approval
Depends on loan complexity.
Starting from 48 hours
Repayments
Interest only
Interest and principal
Bullet (lump) repayment
Approval & settlement
Up to one week (varies)
Security
Required. Common types of security:
- Property
- Equipment or machinery
- Inventory or accounts receivable
Documentation needed:
- Proof of identity (low doc)
- Security details (low doc)
- Financials (if existing)
- Cash flow projection (sometimes)
- Business plan (sometimes)
- Exit strategy (sometimes)
We get you the best business finance
from our marketplace of 60+ lenders
Not just your business finance broker.
Your business partner for the long haul.
Over the past 15 years Nadine and Chris have had the privilege to help more than 3,300 Australian business owners realise their business goals.
Everyone’s situation and needs are unique. That’s why we offer personalised business finance brokering and planning services, designed to ensure you get the right type of business finance with the best rates and terms possible.
What’s more, as our client you’ll also get access to all the experience and knowledge of our team – helping you succeed long term. Together.
Key benefits of
Secured business loans
What can
Secured business loans
be used for?
How it Works
1. Talk to us
Share your goals with our lending experts.
2. We get to work
We negotiate with our network of 60+ lenders
3. You choose the best loan
We help you apply for the loan that best fits your needs.
Avoid these mistakes if you want the best Secured business loan
Some business owners aren’t aware that interacting directly with lenders could harm their chances of getting a business loan.
Here are some common mistakes to avoid:
- Being unprepared – no business plan or cash flow
- Applying with multiple lenders directly
- Allowing multiple credit checks in a short period of time
- Not being honest or omitting important information
- Asking for more than is serviceable or securable.
Making these mistakes could mean you aren’t able to get a business loan at all, or only one with poor rates and terms. This is why it’s so beneficial to work with us. We partner with you and help you avoid these mistakes so you get the best outcomes possible.
Frequently asked questions
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Do you provide the business loan directly?
As business finance brokers, we work for you to find the best loans from our marketplace of more than 60+ lenders which included the big four banks like Westpac, CommBank, ANZ and National Bank, to regional and niche lenders like BOQ, JudoBank, Pepper Money, Scotpac and many, many more. We don’t offer business loans directly ourselves.
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Why use Smart Business Plans instead of just going to my bank directly?
There are many benefits to working with us over your current bank, including:
Better options. Your bank can only offer you their own lending products. We can get the best lending products from almost all the lenders on the market, including loan types you may not have even considered, but may be a better fit than a traditional loan.
Massive time savings. For you to connect with every lender and find the best lending products for your unique circumstances would take months of hard work. We can do that for you.
Better rates and terms. Even if you end up going for a loan with your current lender, we can sometimes negotiate terms and rates for you that are better than what you could get yourself.
Experience. We work for you, not the bank. We present your interests, sharing our experience, expertise and advice along the way, so you get the best possible outcomes.
It’s our goal to have you become a life-long Smart Business Plans customer.
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How much does it cost to use your services?
Our initial consultation calls are free. Our business loan and asset finance brokering services are generally free, as we are compensated by the business lender. In some unique situations if a fee for our services was required, this would be communicated to you in advance, and you’d have the opportunity to consider if you’d like to move forward or not. We will never impose a fee or cost for our services that are not communicated to you up front.
We also offer our clients the option of having us support your business loan application by writing your bank loan business plan and cash flow projections (when required by the lender). The fee for this service will be provided if you choose to select this option.
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Why use Smart Business Plans versus a mortgage broker?
Most mortgage brokers have little to no experience in business management, planning or finance. They simply don’t have the knowledge to understand how business loans are unique and different to a consumer home loan, and often struggle with some of the complexities that come with commercial lending.
We specialise in business lending – that’s 100% of our focus and expertise. We have a significant network of business lenders, lending agents, and business professionals such as lawyers, accountants, business brokers, business advisors and consultants that our clients can tap into as needed.
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How do I apply for a secured business loan?
Easy! The best thing to do is have a Zoom or phone chat with us. From there we can work together to get your business funding if there’s good alignment between what you need, and what we do.
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What assets can I offer as a security?
The most common form of security is real estate (commercial or residential property). Some lenders will also consider business equipment, machinery, vehicles, savings or investment portfolios.
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Can I sell the asset I’ve offered as security after I get the loan?
No. Once you’ve offered an asset as security against your loan, you cannot sell the asset without approval from the lender. It’s important to engage your lender and discuss potential options if a sale of your security asset is needed. We can assist by talking through your options if this situation arises.
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What if I don’t have an asset to offer as security?
There are a number of other lending products that do not require security. These include unsecured business loans, business line of credit and invoice financing. These loan types have different lending criteria and terms, so book a call with our lending experts now to see if you qualify.
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What if I have a bad credit history?
We have lending options for people that have run into credit score issues in the past, especially if there is a sufficiently valuable asset (like property) to secure the loan, as well as sufficient business cash flow for serviceability.
Talk to our team expert lending team to see if you’re eligible.
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What if I have another question?
Have a question? Just ask!
One of our lending specialists will be in touch
