Compare business loans in Australia

What are you actually comparing?

"Business loan" covers five different products, and comparing a term loan against an invoice finance facility on rate alone tells you nothing. Match the product to the reason you are borrowing first, then compare lenders within that product.

How do you compare business loan rates?

Business loans sit outside the National Credit Code, so there is no mandatory comparison rate and lenders quote cost in whatever form suits them. Three forms turn up. An interest rate charged on the reducing balance, as the banks and the longer-term online lenders use. A factor rate, where the total repayment is the amount borrowed multiplied by a figure such as 1.15, common at short-term lenders. And a weekly or monthly fee on top of interest, as Prospa publishes on its line of credit.

The trap is that a factor rate looks small. On $100,000 over 12 months, a 1.15 factor rate means $15,000 of cost, and because you repay the balance across the year rather than at the end, the equivalent annual rate is roughly 26% p.a. A 15% p.a. interest rate on the same loan, amortising monthly, costs about $8,300. Convert every quote to a total dollar cost over the term, add the establishment fee, any monthly or line fee, and any early repayment charge, and compare that figure. The business loan calculator does the arithmetic.

What do lenders publish?

Most business lenders publish limits, terms and eligibility floors but not rates. The rows below are the published figures from each lender's own product page, checked on 19 and 20 September 2026; blank cells mean the lender does not publish that item. Terms change without notice, so confirm with the lender or your broker before relying on them.

Secured or unsecured: what changes?

Security changes three things at once: how much you can borrow, for how long, and at what price. Unsecured, the published ceilings above run from $50,000 at Westpac's startup loan to $500,000 at Prospa and Moula, with terms of five years or less and pricing that reflects the lender carrying the whole risk. With residential or commercial property as security, ANZ and CommBank publish terms to 30 years and lend against the property's value rather than a fixed cap, at rates closer to a home loan than to an online lender. In between sits a general security agreement over business assets, which ANZ requires on GoBiz loans above $200,000, and a director's guarantee, which most lenders require on a company borrower regardless. The secured business loan guide covers what each lender takes as security.

Bank, online lender or broker: which should you compare through?

The banks price lowest and move slowest. They want financials, often an existing relationship, and two to four weeks for anything secured. The online lenders decide in hours on bank-statement data and publish floors most trading businesses clear, at prices that reflect that speed. A broker sits across both: they know which lenders will take a file before it is lodged, which avoids the credit enquiries of applying to several lenders directly, and they are paid by the lender on settlement rather than by you.

Your Finance Guide does not lend and does not assess applications. When you ask for a quote we refer you to one licensed broker partner whose practice fits the size and type of loan you need, and they compare across their panel from one conversation. The business loan broker guide explains what to expect and what to ask.

What do you need to apply?

For an unsecured online loan: an ABN or ACN, photo ID for each director, and read access to your business bank account or the last six months of statements. For a bank term loan or anything secured: the last two years of financial statements and tax returns, current-year management accounts or BAS, an ATO portal statement showing tax is up to date, a summary of existing debts, and for property security a rates notice and current loan statement. Lenders read ATO arrears as the first sign of stress, so if you have a tax debt the tax debt loan guide covers which lenders will still look at the file.