For this grocery store operating in NSW, Australia, Lending Connect found an unsecured business loan in collaboration with our lender Prospa. The loan for this grocery store can be used for many different purposes:
- Products Advertising
- Pay suppliers and vendors
- Hire staff
- Pay taxes
At Lending Connect, our specialized team can provide you the right loan for your business needs. In addition, we are able to provide funds in our clients’ bank account within 24 hours from approval.
We also offer a free consultation about our business loans solutions.
- Client industry: Grocery
- Client location: New South Wales (Australia)
- Finance Product: Unsecured Business Loan
- Finance Broker: Lending Connect
- Lender: Prospa
Unsecured Business Loan
Lending criteria for unsecured business loans
Despite the high interest rate, unsecured business loans are easy to obtain and with quick approval.
Minimum eligibility criteria for unsecured loans (may change from lender to lender):
- Australian Business with an active ABN
- Operating in Australia
- Annual turnover of minimum $75,000
- Be in business for a minimum of 3 Months
- Have a good cash flow
- Run a profitable business
- A good credit score
In conclusion, if you are looking for a short-term loan without providing collateral, an unsecured business loan could be the best option for you. Our lenders offer credit from 3 months up to 36 months.
Do you need loans without collateral for you small business?
In choosing your small business loan, Lending Connect can help you understand which loan is the right option for your needs. Our experienced team are here to give you an overview of all the different loans to see you grow.