Fast funding to fuel your business investment and growth
Fast set up – conditional approval in as little as 48 hours
Tailored and personalised solutions – we look for a way to say yes when others can’t
Terms of up to 30 years available with options to redraw or make extra repayments
What is a ScotPac Business Loan?
A property secured facility allowing you to unlock the equity in your home to fuel business growth
A ScotPac Business Loan can provide the financial backing you need to invest in development, fund business acquisition, refinance existing debt, and achieve your long-term goals.
You can avoid the hassle of working with traditional lenders and get a tailored funding solution. We provide fast approval within 48 hours, cash flow friendly repayments, and require limited paperwork and supporting documents.
Benefits for your Business
• Fast set up – conditional approval in as little as 48 hours
• Tailored and personalised solutions – we look for a way to say yes when others can’t
• Terms of up to 30 years available with options to redraw or make extra repayments
Fund business expansion and growth
Refinance from other business loans
Property security allows competitive pricing
Why ScotPac?We've been around for over 30 years, lending exclusively to SMEs. We uncover the hidden value in your business assets and make them work for you.
Who does Business Enquire now
For businesses looking for fast financing to fuel growth and fund investment. A property-secured business loan lets you use the value of your home to access higher funding limits at a competitive interest rate.
You must be an Australian business (company or trust) or self-employed individual (sole trader) who has a residential property to offer as security and who has had an Australian Business Number (ABN) for more than 12 months.
For more information about how we can help your business, fill out an enquiry form or call us today.
WHAT IS A BUSINESS LOAN?
A business loan is a type of debt finance. Business loans involve a lender providing a lump sum of money that the borrower repays over a set loan term. There are many business loan options, including fixed or variable interest rates and a range of repayment terms.
WHAT ARE THE REPAYMENT TERMS?
ScotPac Business Loans are flexible and can be tailored to your cash flow needs. You can choose from weekly, fortnightly, or monthly repayments to suit your business.
You can also choose your repayment type with principal and interest or interest-only for up to 5 years.
WHAT TERMS ARE AVAILABLE?
Terms are available from 1 – 30 years. (5 years interest free reverting to principal after the initial period)
CAN I MAKE EXTRA REPAYMENTS?
Yes, you can make extra repayments to repay your loan early.
HOW FAST CAN I GET FUNDING?
You can get approval in as little as 48 hours. We’re able to provide funding much faster than most lenders. You can speed up the application process by giving us a call so we can help you prepare the documents you’ll need to apply.
HOW MUCH CAN I BORROW?
The amount you can borrow depends on the value of the property you’re using as security. Generally, you can borrow up to 85% of the value of the equity you own in the property.
Secured business loans typically offer higher borrowing limits with a longer maximum loan term. Because the property security reduces the risk for the lender, you can also secure a lower interest rate.
WHAT CAN THE BUSINESS LOAN BE USED FOR?
You can use a ScotPac Business Loan for all business purposes. Use the funding to fuel expansion, capitalise on opportunities, or support working capital. Unlike a traditional bank loan, we don’t have strict limitations on how the funds are spent.
We believe you know your business best and where the investment will make the biggest impact.
HOW DO PROPERTY-SECURED LOANS WORK?
ScotPac Business Loans offer much more flexible terms than most lenders. You can choose the repayment frequency and loan terms based on your business goals and cash flow needs.
We’re able to move much faster than bank lenders and provide approval in as little as 48 hours. There are no unexpected expenses, and you can see the total amount payable, including the interest rate and fees.
WHAT HAPPENS IF I WANT TO SELL THE PROPERTY I'VE PUT DOWN AS SECURITY?
In most cases, you will be able to sell the property used as security during the loan term.
If you choose to sell your home, the simplest way to repay the loan amount is to use the proceeds from the sale of the property. This may require our agreement before the property is sold.
You may also be able to provide another asset as security. For example, if you buy a new home, we may agree to use the new property to replace the security for the business loan.
CAN I USE A BUSINESS LOAN TO START A BUSINESS?
While banks and other lenders have strict eligibility criteria requiring business loan applicants to have a long trading history, ScotPac provides support at every business life stage. You can qualify for a ScotPac Business Loan as long as you have had an ABN for at least 12 months.
You can use your residential property to get funding for your new business. If you’re in the launch period and do not qualify for a property-secured loan, you may still be eligible for Invoice Finance. You can use your outstanding invoices to access a line of credit to improve business cash flow.
CAN I GET A BUSINESS LOAN IF I HAVE BAD CREDIT?
Having a poor credit rating does not mean you will be unable to secure a business loan. If you’re a homeowner and can provide property security, you may still qualify for a ScotPac Business Loan.
A bad credit rating can increase your risk profile, so you may find that your interest rates are higher than other borrowers with better credit scores. But we always try to find a way to say “yes” and help you get the funding your business needs.
Call us to discuss how we can help
finance your business 0864 245 605