Unsecured business loans: What they could mean for you
Introduction
Are you a small business owner looking for a loan? Did you know that one of the small loan companies AA Finance Solutions works with is offering an unsecured business loan that could help your business thrive.
Loans company Moula are currently accepting online applications for their unsecured business loans. Today I am going to write about how this loan could potentially benefit you.
What is this loan?
These loans are designed to be a business loan between $5,000 to $250,000 with a term of six to twenty-four months. Money can be borrowed for business reasons such as furnishing a retail or office setting, buying stock, refinancing remaining debt to the ATO, or paying for a deposit on equipment.
If you’re thinking of applying for a loan from Moula for your business, it’s important to know if you fit the criteria. Businesses that currently have an active CAN or ABN are able to apply for a loan. They must have also been operating as a business for at least six months, and make at least $5,000 on average every month in sales.
Importantly, Moula is compliant to the AFIA code for online small business loans.
What do I need?
For a business loan of $5,000 to $250,000 with a term of six to twenty-four months, there is no need for an asset. If the loan is under $150,000 you will need only data concerning the bank, and bureau data, to apply. If the loan is from $150,000 to $250,000, you will require bureau data, accounting data, data concerning the bank, and sometimes an ATO ICA (which may not be needed for reasons such as if the data shows you have regularly repaid your tax).
Please make certain that any documents, such as trust deeds which have been certified, are ready to go when you meet with your mortgage broker to apply for the loan. When it comes to accounting data, make certain that your bank transactions are already settled.
How will it benefit me?
There are many benefits for choosing Moula as a company. For a business loan from Moula, Moula will make a choice about the loan within only twenty-four hours. They make a choice as to lend or not on the same day as an application is submitted.
One other great thing about Moula’s business loans is that there are no sneaky concealed fees, as well as no fee or penalty for paying your loan back early, no fees when it comes to direct debit, and no need to prepay the interest if you pay back the loan early.
Conclusion
Ultimately, if you are a small business in need of a loan to get your company to where it should be, talk to your local finance broker and financial adviser about whether this loan may or may not be right for you.
For great help and advice, contact the friendly mortgage brokers at AA Finance Solutions.
