1300 760 930 Customer Login

Business funds Canberra ACT

Have business funds in under 24 hours and access up to $300k across the ACT

Get Started

How to Find Small Business Loans in Canberra

You own a bakery, cafe, medical practice, construction company, accounting Practice in Canberra, but you need a business loan to get started or grow your business.


You may also need a business line of credit. You think small business loans are your best option. But you know that a traditional bank won’t give you one. Your credit isn’t in great standing.


However, you’ve heard about certain institutions that offer flexible lending terms despite bad credit history.


But where should you start?


You can choose between a merchant cash advance or a business instalment loan. If you’re a startup, you must have a business plan in place so lenders can assess the profile of your business.


More established businesses stand a better chance of getting business funding. Businesses with bad credit may have to pay higher interest rates and/or pledge additional collateral.


This article will show you the ins and outs of qualifying for small business loans. Read on if you wish to know more.



How Can I Get Funding if I’m a registered business?

If you’re wondering how to fund my business in Canberra as a startup, you can get an alternative small business loan. When it comes to bank lending, bankers tend to stay away from startups. This is especially true if you’re starting a business in the first year. Lenders want to see cashflow that will allow you to repay the loan in the future.


Regardless of the setbacks, you can still get small business funding as a startup. To get the necessary funding, you need to possess several qualifications:

  • Collateral
  • A tested or proven service
  • Good income
  • Good credit


As a startup, you may need to pledge heavy collateral to get the funding you need. You can pledge your house as collateral. Or, you could pledge any type of collateral that would satisfy lenders.


You could also get funding if you impress potential lenders with your business idea or product. Moreover, you can connect with investors who typically offer business loans to startups. Borrowers can also convince investors or lenders with a compelling business plan and financial statements.


Additionally, your product or service may already be successful in the market. You stand a better chance of loan approval if your product or service is a proven business model.


When it comes to income, you could get a small business loan if you have a good income. You may not have business income as a startup, but good personal income could suffice with some lenders.


You can also increase your chances of getting a loan as a startup if you have a suitable credit rating.



What Type of Small Business Loan Can I Get?

The type of funding needed depends on your desired terms. Two primary business loans in Australia include:

  • Short-Term Business Loans: A loan in which you pay fixed monthly or daily payments. Terms usually last from 3 months to 12 months.
  • Merchant Cash Advance: A loan in which lenders deduct a small percentage of credit card sale transactions on a daily basis to repay the loan.


For small business loans, the terms and instalment plans depend on the lender’s standards. However, some institutions offer a daily payment plan that helps businesses manage finances more efficiently. Moreover, a daily plan prevents borrowers from making heavy payments each month.


A small business loan is the right solution if you need to purchase new equipment or wish to improve your overall cash flow. You can qualify for a business loan if:

  • Your business has been operating for at least six months
  • You own the business
  • You have a minimum of $10,000 per month in gross sales
  • You have business bank statements
  • You have an ACN or ABN


More importantly, you must demonstrate the ability to repay the loan regularly.


When it comes to paperwork, lenders often require minimal paperwork to apply. For example, you don’t have to provide tax returns or financial statements for loans that are below $75,000 in some cases.


And, certain institutions don’t require security obligations to qualify for business funding. In most cases, the funding amount starts from $5,000 to $300,000.


A merchant cash advance program offers the same funding ranges and terms. Additionally, it offers the same limited paperwork as the business loan program.


Like business loans, many merchant cash advances are unsecured loans. An unsecured loan doesn’t require you to pledge collateral or physical assets to secure the loan.


You could qualify for a merchant cash advance under the following circumstances:

  • Your business must operate for at least six months
  • You must have six months minimum of business financial statements
  • You must be registered for GST.
  • You must have a valid ABN/ACN
  • You have a minimum of $10K in gross sales every month
  • You must be a permanent resident of Australia
  • You must own the business
  • You must be at least 18-years-old or older


A merchant cash advance is also ideal if your business sales tend to fluctuate. Moreover, it allows you to make flexible payments regardless of your sales pipeline.



How Capify Can Help Small Businesses Qualify for Funding in Canberra?

Capify offers flexible loan options for small businesses. We serve the needs of businesses that cannot get financing or loans through banks or lending institutions. Due to strict lending standards, many Australian business owners cannot get the loans they need to sustain their businesses.


But Capify works with business owners of all stripes. With minimal paperwork, Capify can approve borrowers in 24 hours. Business owners can get business loans needed to hire additional staff or pay bills on time.


And, Capify doesn’t charge fees for applications. Best of all, Capify doesn’t charge interest rates for the loans.



The Best Small Business Loans for the Business Community

The best small business loans are short-term business loans or merchant cash advances. A business-term loan usually lasts up to a year and provides a monthly or daily plan. Merchant cash advances offer the same limits, but lenders deduct a percentage from a merchant’s card transactions.


Regardless, daily deductions allow businesses to manage finances and avoid hefty monthly payments.


Want to learn more about business loans? Click here to learn how Capify can help you.

Instead of monthly payments, our business loan has a fixed, daily repayment schedule allowing you to manage your business finances and budget more effectively.


Unlike a commercial bank, Capify requires minimum paperwork, as it is an unsecured business loan.  If you are in MelbourneSydney, Adelaide, Brisbane, Perth, Hobart, Canberra, or Darwin we can help.


Once approved, the funds will be deposited in your account within 24 hours, not weeks or months.


Is your business seasonal? No problem. Our loans can help adjust to the highs and lows of your business cash flow.

Call us on 1300 760  930 and discuss your business loan requirements and loan amount.

How Capify helps small businesses acquire funding in Canberra

Capify provides fast small business loans and merchant cash advances for working capital to retailers, restaurants, cafes, automotive, transport industries, construction and builders, grocery stores, health services, real estate, beauty shops across Canberra and the ACT.


It doesn’t matter if you’re a small business from Belconnen, Fyshwick, Phillip, Braddon, Griffith, Barton, Deakin, etc. We can get your business loan approved in 24 hours. Grow your business with a very fast application process or loan application. Capify does not have interest rates and there are no fees and charges for an application. A quick quote is completely obligation-free. Instead of a variable rate, Capify uses a fixed rate so businesses can manage their cash flow effectively and budget. Because Capify looks at a business’s application on a case to case basis it doesn’t matter if you have a bad credit score, Capify will assist you through the process and you may still qualify to receive finance. Terms and conditions apply.


Capify also works with Canstar, Australia’s largest comparison site for business loans who are located in Canberra, ACT. They research and rate thousands of products and from over 730 brands across 30+ different categories including business loans, merchant cash advances, finance, banking, insurance, and super funds. Capify value their business loan comparison partnerships and have just launched a business affiliate partner portal.

How could small businesses in Canberra and the Australian Capital Territory use Capify business funds?

  • Pay Bills
  • Marketing
  • Hiring extra staff
  • Improve Cash Flow
  • Purchasing a Business car or Truck
  • Renovating or Expanding the business
  • Upgrading or Purchasing Equipment

Why choose Capify?

Capify has business development managers all across Australia. A business owner may feel like they need to talk face to face with an advisor about Capify’s unsecured business loans, cash flow options, working capital, interest rates in order to grow the business. That’s why Capify has just hired a business development manager Dino Pacella who works in Brisbane, Queensland and in Perth, Western Australia who can assist with any small business loan inquiries.

With Dino Pacella being up in Brisbane Queensland, Capify can attend more FBAA business broker events to show what small fast business loan products Capify has to offer. FBAA (Finance Brokers Association of Australia) events are great for brokers to understand more about unsecured business loans, how we are different from the big banks and the fast application process to provide business owners with working capital without the high-interest rate. Dino has recently joined the Capify Australia team is a big supporter of the state of origin winners Queensland rugby league team the Maroons and looks forward to their next win.

Capify is Australia’s first small business alternative lender since 2008, we have built and maintained a google review of 4.5/5 or TrustPilot.

Speak to a lending specialist today on 1300 760 930 to get funds in 24 hours or start your application and apply now.

Apply Now

We help businesses like:


What are your interest rates?

We don’t use interest rates for our funding solutions.

Instead Capify offers an agreed total payback amount. The payback amount depends on the type of business you operate and the term you require the business finance for. This way your business knows up front the total costs, making managing your cash flow easy.

Does Capify have an office branch in Brisbane?

Capify is a fin-tech and purely operates online. We do not have a physical branch. However, our office is in Parramatta.

Apply Now
Copyright © 2020 Capify Australia PTY LIMITED (ABN 38 630 469 117) trading as Capify. All Rights Reserved.