Business loans
Need a business loan?
Growing, buying stock, hiring, fitting out or taking on a bigger job? Tell the application what the money's for and see what lenders on the panel may offer the business.
For businesses with an ABN, for business purposes only. Finance for personal, household or domestic purposes isn't offered through Circlestone.
What a business loan can cover
- Growth and expansion – new sites, new staff, marketing
- Stock and inventory ahead of a busy period
- Fit-outs and renovations to business premises
- Refinancing existing business debt
- Paying a tax debt, where a lender allows it
Unsecured or secured?
Unsecured loans don't need an asset as security, so they're usually quicker to set up but often cost more. Secured loans use an asset – such as property or equipment – as security, which may lower the cost but puts that asset on the line. The lender will explain what applies to you.
What you'll be asked
Lenders match on a handful of facts about the business. Having these ready makes the application quicker:
- How much you need and what it's for (the business purpose)
- Your ABN and how long it's been active
- Whether you're registered for GST
- Roughly what the business turns over each year
- For equipment or vehicles: what it is, new or used, dealer or private sale, and the price
- When you need the money
- Your credit history, and the directors' or owners' details and ID
- Business bank statements – often linked digitally rather than uploaded
The exact questions come from the LoanOptions.ai application and may differ.