FAQ

Our FAQ page is here to help answer the most commonly asked questions we receive at Nbizloan. If you have a question that doesn’t appear here, you can call us on 0247348601 or chat now!

What are your loan amounts and terms?

We can lend from $5,000 to $400,000 in unsecured finance to SMEs. The repayment terms are flexible and depend on the monthly turnover of your business. Terms range from 3 months to 15 months.

How long does the approval process take?

From application submission to approval, the process can take 60 seconds on our Apply Online platform. However, this time frame is dependent on receiving the required documents in a timely manner.

How fast can I receive the funding?

Once your application has been approved, we can have the funds in your nominated account in less than 3 business days for most cases. If your case is urgent please let our friendly team know and we will work out a solution that works in your favour.

What products do you offer?

Nbizloan offers two products that work with your small business:

Merchant Cash Advance:

  • For businesses that accept credit card/EFTPOS sales.
  • Get access to a lump sum amount where repayments are debited on a daily basis.
  • No fixed monthly repayment requirements which means your cash flow isn’t heavily affected.

Business Loan:

  • A suitable product for any business and doesn’t require credit card/EFTPOS processing.
  • Get access to a lump sum amount where repayments are debited on a daily basis.
  • No fixed monthly repayment requirements which means your cash flow isn’t heavily affected.

What information is required to apply?

  • Bank statements for the last 4 to 6 months.
  • Merchant statements for the last 4 to 6 months.
  • Driver’s license for the owner of the business.
  • Operating for a minimum of 6 months.
  • Minimum turnover of at least $10,000 a month.

What are the application costs?

We do not charge our customers any fees to submit an application. It is completely obligation-free and you can choose to commit whenever you are ready.

What industries do you lend to?

We support businesses from all industries and we have proven examples of customers that have successfully grown their business through our innovative lending methods. Some industries include:

  • Retail & Fashion
  • Hair & Beauty
  • Hospitality
  • Automotive
  • Real Estate
  • Manufacturing
  • Trade & Labour
  • Cleaning Services
  • Many more

How can I use the funds?

You can use the cash for any business purpose you like. A few ways our customers have used the funds:

  • Improved Cash Flow
  • Pay off any expenses
  • Renovations
  • TAX or BAS payments
  • Purchasing stock
  • Marketing
  • Hiring extra staff
  • Upgrading equipment

Are your funding solutions unsecured?

No collateral is required, the only requirement is a personal guarantee by the majority owner of the business.

What is the Interest Rate?

We do not use interest rates for our funding solutions. Instead Nbizloan offers an agreed total payback amount. The payback amount depends on the type of business you operate and the term you require the finance for. This way your business knows up front the total costs, making managing your cash flow easy.