Are you looking at various options for online small business loans in Australia? Well, you are in the right place. Here at Pineapple funding, you can get the best small business loans from various online lenders. You can get the chance to select the best one for you. Let’s look at the type of loans offered by Pineapple Funding:
Unsecured Business Loans- Unsecured business loans are taken when the borrower can not give any collateral as security. Unsecured business loans are required when you need a loan quickly and can repay in a short amount of time. Following are some features of the unsecured business loan:
- Loan amount of up to $250K.
- Fast approvals sometimes can even get cash in your bank on the same day.
- Comparatively high-interest rates.
- Loan repayment n 3-12 months.
Secured Business Loans- Secured business loans require the borrower to give personal assets as collateral against the loan amount. With this type of loan the loan amounts are high and so is the repayment terms. Secured business loans are needed when your business needs a large amount of money.
Following are some features of the secured business loan:
- Loan amount of up to $20 M.
- Takes time for approvals.
- Longer repayment terms.
- Interest rates are comparatively low.
Equipment Finance- Equipment finance is a type of loan borrowed to purchase new physical assets or equipment for your business. This loan can help to increase cash flow in your business. You can get fast approvals for equipment finance.
Following are some features of Equipment Finance:
- Generally, the equipment you are borrowing serves as collateral.
- Approval takes days.
- Interest rates can range from 8% to 30%
- Repayment terms can be as long as 5 years.
Invoice Factoring- Invoice factoring or invoice financing is not a typical loan but advance money to pay up to 80% of your invoices. You can repay the lenders once you get your payments back from the customers. This type of funding is most suitable for manufacturers, wholesalers, importers and other service industries.
Following are some features of Invoice Factoring:
- You can get Invoice finance when your invoices are for goods and services.
- Get fast cash within 24 hours.
- Collateral is required as security.
Call us on 1300 79 32 92 to discuss if you have any queries regarding the online small business loan or submit a brief via the contact page.