Why a Business Loan?
Fast access to funding
Our business loans, from $10K to $500K, give you fast access to working capital, with funds available in 24 hours from approval.
Flexible solutions
Choose from secured or unsecured loan options, flexible repayment terms and tailored solutions designed to support your business’s goals.
Simple application process
Apply online in minutes with minimal paperwork - and get a fast credit decision, sometimes within 24 hours.How a Business Loan Can Help Your Business
For businesses in Melbourne, a tailored Business Loan can provide the cash flow needed to manage operational expenses, navigate market fluctuations and realise growth opportunities.
How Business Loans Work
ScotPac removes the traditional hurdles often associated with bank loans. Our simple online application is quick to complete – with minimal documentation required.
Once submitted, our lending specialists move fast to assess your application. When approved, funds can be in your account within 24 hours.
Apply today for your business loan in Melbourne.
Award winning Business Finance in Melbourne
As the largest non-bank lender in Australia, ScotPac brings the best of both worlds: the speed, flexibility and ease of a specialist lender combined with the reliability and knowledge of a major finance provider.
We help businesses in any industry reach their goals.
Is a Business Loan right for you?
If you are not sure whether a Business Loan is the right working capital solution for your business, consider the following eligibility requirements:
Operating Location
Your business must demonstrate consistent operations from its Melbourne location for at least 12 months, with a stable sales record.
Business Ownership
The business owner/applicant must be a citizen or permanent resident of Australia and at least 18 years of age.
Minimum Turnover
To be eligible for a Business Loan, your business must generate at least $10,000 in monthly sales.
Required Documentation
You’ll need to provide the last 6 months of business bank statements, along with photo ID for all directors/borrowers.
Loan Amount
ScotPac offers Business Loans from $10,000 to $500,000 – with eligible businesses able to borrow up to 150% of average monthly revenue.
Our lending specialists are always happy to discuss your business’s specific needs and help you find the right solution.
Contact the ScotPac Melbourne office today for a consultation.
Frequently Asked Questions
HOW QUICKLY CAN I ACCESS THE FUNDS?
Our online application takes just 5 minutes to complete. Some applications may receive same-day credit approval. Typically, funds are available within 24 hours of approval.
WHAT CAN A BUSINESS LOAN BE USED FOR?
Loan funds can be used for any business-related expense or growth opportunity – including managing cash flow, purchasing assets, meeting payroll, financing contracts, buying inventory or expanding your market share.
WHO QUALIFIES FOR A BUSINESS LOAN?
Any business in Melbourne that meets our eligibility criteria is welcome to apply for a Business Loan with ScotPac. In general, businesses can borrow up to 150% of their average monthly sales turnover.
IS MY BUSINESS ELIGIBLE FOR A LOAN?
Eligibility depends on a few key factors. Has your business operated in the same location for at least 12 months? Is your monthly turnover at least $10,000? Is the business owned by an Australian citizen or permanent resident over the age of 18? If the answer is yes to all three – you’re eligible to apply.
CAN I USE A LOAN TO REFINANCE EXISTING DEBT?
Yes. Our flexible Business Loans can be used to refinance or consolidate existing debt on more favourable terms.
CAN A NEW BUSINESS APPLY FOR A LOAN?
If your business has been trading for at least 12 months in a single location in Melbourne and generates $10,000 or more in monthly sales, you’re welcome to apply for a Business Loan.
WHICH INDUSTRIES DO YOU CATER TO?
Our Business Loans are available to companies across all industries. Our Melbourne clients include businesses in professional services, manufacturing, transport, hospitality, retail and more.
WHAT'S THE MAXIMUM I CAN BORROW?
ScotPac offers Business Loans ranging from $10,000 to $500,000. Borrowing capacity is generally up to 150% of your average monthly sales.
WHAT DOCUMENTATION DO I NEED FOR THE APPLICATION?
Our simple online application minimises the paperwork usually required with bank loans.
To streamline the process, have the following ready:
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Business bank statements from the last 6 months
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Photo ID for all business directors and borrowers
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A completed application form (accessible online here)
WHAT INTEREST RATE DOES SCOTPAC OFFER?
Interest rates for a Business Loan varies depending on several factors – including market conditions (e.g. the cash rate), your requested loan amount and your business’s risk profile.
ARE THERE ADDITIONAL FEES?
We’re upfront about our fees – no hidden costs like account keeping charges. Monthly repayments include the principal, interest, and flat facility and drawdown fees – all clearly explained and agreed upon upfront.
ARE THERE EARLY PAYOUT PENALTIES?
No. With a Business Loan from ScotPac, you can repay your loan early without any penalties or additional fees.
DO I NEED A GOOD CREDIT SCORE?
Not necessarily. We take a holistic view of your business’s financial health – not just your credit score. That’s why many businesses that haven’t qualified with banks are able to access funding through ScotPac.
If you’re unsure about your eligibility, get in touch with our Melbourne lending specialists today.
WHAT ARE THE LOAN TERMS?
Our Business Loan terms range from 6 to 36 months. Loan terms are tailored to suit your business’s needs, goals and eligibility.
HOW DO I MANAGE MY LOAN?
You can easily manage your Business Loan through our user-friendly online customer portal. Monthly statements are also available through the portal.
WHAT HAPPENS IF I MISS A REPAYMENT?
Missed repayments may result in a late fee and could impact your business’s credit profile.
HOW DO I GET STARTED WITH MY APPLICATION?
To start your online application, click here. For more information or assistance contact our lending specialists in Melbourne.