Unsecured business loans are the workhorse of Australian SME finance. Roughly 70% of online business loans written under $500,000 are unsecured, meaning no property charge, no caveat, no asset register entry. The trade-off is rate and term, not access.
What "unsecured" actually means
You are not putting up a residential property, commercial building or specific asset as security. You are still personally guaranteeing the loan as a director, which means your personal assets sit behind the debt if the business defaults. That guarantee is what allows unsecured lenders to move so fast.
How much can I borrow unsecured?
The market splits cleanly by lender type:
- Up to $150,000: easy. Most fast lenders approve on bank statements alone.
- $150,000 to $500,000: achievable with 12+ months trading and consistent turnover.
- $500,000 to $1m unsecured: rare, requires strong financials and 2+ years trading. Banjo and a few specialists play here.
- Above $1m: almost always requires security.
A practical rule of thumb: an unsecured lender will lend roughly 1x to 1.5x your average monthly business turnover.
The cost difference
Unsecured speed is priced. Indicative rates at the time of writing:
- Unsecured online: 14.95% to 29.99% p.a.
- Secured by property: 5.99% to 9.99% p.a.
- Equipment finance secured by the asset: 6.99% to 12.99% p.a.
If your need is genuinely urgent, the rate gap is often acceptable. If you can wait a week and you have property, secured almost always wins on total cost.
Who funds unsecured fast
The active unsecured panel in Australia: Prospa, Lumi, Moula, OnDeck, Banjo, Bizcap, Capify, Get Capital, Shift. Each has a slightly different sweet spot, which is why a broker comparison usually beats applying to one direct.
Get a free comparison on our fast business loans page. Need it today? Read same day business loans in Australia. Worried about credit? See fast business loans for bad credit.