Fast Business Loan

Our business loan application process is entirely online and can be completed in as little as 5 minutes. Some loan applications are subject to same-day credit approval, and once approved, funds can be available in as little as 24 hours.

Security requirements vary based on loan size and risk profile. A strong asset base may help increase approval rates and loan amounts.

Businesses need to have been trading for 12 months or more, be owned by an Australian citizen or permanent resident, and have average monthly sales of at least $10,000 to be eligible.

No, you cannot use a fast business loan from ScotPac to start a business, as you will need to have 12 months of trading history and average monthly sales of at least $10,000 to be eligible.

ScotPac supplies business loans for companies in all industries, including professional services, manufacturing, transport, hospitality, retail, and many more.

ScotPac provides business loans ranging from $10,000 to $500,000. Loan amounts are assessed against your average monthly sales. For loans up to $100,000, the amount can typically be up to 125% of average monthly sales. For loans from $100,000 to $500,000, the amount can increase up to 150%.

Your fast business loan can be used for any business expenditure. This includes managing operational cash flow, investing in new equipment or machinery, paying wages, funding contracts, purchasing new stock, or taking advantage of growth and expansion opportunities in the market.

Yes, you can. Our flexible business loan terms allow our lending specialists to customise a fast business loan to meet your needs – including refinancing existing loans with a more favourable solution.

Our easy-to-use and fast online application process doesn’t require the extensive documentation of traditional bank loan applications. Make sure you have the following documents ready before starting your application:

• Business bank statements for the last six months 

• Photo ID for all directors and borrowers of the business 

Interest rates fluctuate based on a number of factors. Market conditions – such as the cash rate – will influence the interest rate offered by our lending team. Additionally, the loan amount and the perceived risk profile of your business will also affect the rate.

No, there are no hidden fees or charges when you apply for a fast business loan with ScotPac. We ensure complete transparency throughout your application process. We have no application fees or account keeping fees. We offer a low, up front flat fee and drawdown fee structure that is paid off with your weekly repayments.

Businesses with strong asset bases, good credit histories, and security to serve as collateral can often benefit from lower interest rates, increased flexibility in terms, and larger loan amounts.

Not necessarily. Our lending team considers the overall financial health of your business, not just your credit history.

For more information and tailored advice about business loans for you, reach out to our lending specialists today.

Loan terms vary but are generally between 6 and 36 months – tailored to your needs.

Yes, you can pay out your loan early, if you would like to.  

No, we do not charge a penalty for early payouts. 

Missed loan repayments can incur a late fee and negatively impact your business’s credit profile. If this is a concern, please reach out to the ScotPac team today to discuss the right solution for your needs.

To start your online application, click here. For more information or assistance from our lending specialists, call us on 1300 660 681.