favi

Funding possible up to $500k

Previous credit issues considered

Secured and unsecured options available

Flexible loan terms from 3 to 36 months

bad-credit-business-loans

Understanding Your Business Finance Options

At Broc Finance, we work with businesses across a wide range of financial situations, including those with a less-than-perfect credit history. Our lending panel includes specialist lenders who assess applications based on your current business performance, not just your credit file.

We understand that running a business is demanding, and that past financial difficulties can arise from circumstances outside anyone's control. A prior credit event does not automatically prevent you from accessing the funding your business needs.

These types of short-term finance facilities can carry higher interest rates than standard lending products, which is why we work to match each business with the most appropriate option from our panel of 150+ lenders.

If your credit profile is less than ideal, we encourage you to reach out. Our team will assess what may be available based on your current trading position.

General eligibility requirements

  • Have an active ABN
  • Operate for more than 6 months
  • Have monthly turnover > $5K

To begin a loan application, you need to start off by thinking about how much loan amount you need to fulfil the purpose you had in mind.

Our loan guide

Business Finance for All Credit Situations

Loan amount

$5k- $500k

Interest rates from

15.99% p.a.

Loan term

3-36 months

Pre-approval time

2-4 hours

Unconditional approval & settlement time

24-72 hours

Repayments

Daily/Weekly/Fortnightly

Security

Depends on the loan amount.

What you need to know

Can be used for

Buying stock/Inventory

Paying wages/rent

Expansion into branches or another unit

Renovating business premises

Other working capital needs

Documents required (low doc approval)

Last 6 months bank statements

Valid identification proof

Documents required (full doc approval)

Financial statements

ATO statement

*The information provided in

critical information sheet

is intended as a guide only. Please contact us for more information.

Common Business Finance Products

The following finance options are available to businesses seeking funding through our lending panel.

Unsecured invoice finance

An invoice finance facility allows access to funds to businesses in advance against their invoices.

Highly effective for businesses with higher invoice realisation period.

One can get higher limits without any security.

Helps with injection of short-term liquidity in the business.

Learn More
unsecured-invoice-finance

Secured Bad Credit Loans

These loans are secured by a property or real estate. The asset functions as security for the lender which allows small businesses to get a higher loan amount with a decent interest rate.

No limit on loan amount with approval up to 80% value of the security

No minimum of trading history required

Loan term 3-36 months

Learn More

Unsecured Bad Credit Loans

These loans do not require you to pledge any asset as security. Lenders will assess the financial strength and cash flow of your business to determine the loan amount.

Need only bank statements for approval up to $150k

Loan term 3-36 months

Funding possible in 24 hours

Learn More

Speak to Our Team

Have questions? Speak to our experts!

1300 253 041 Apply Now

Important Things to Know Before You Apply

To give your application the best possible chance of success, there are a few common mistakes to avoid during the process.

  • Randomly applying with multiple lenders
  • Not applying honestly
  • Excessive borrowing
  • Applying in quick succession.
  • Allowing multiple credit checks

To avoid these outcomes, we work closely with each client to identify the most appropriate finance option and guide them through the process. Complete the application form or send us a message and one of our lending specialists will be in touch.

Weighing Up Your Finance Options

Pros

These types of facilities can often be approved and funded within 48 hours, compared to the lengthy timelines of traditional bank applications.

Low documentation approval is available in many cases. A lender may assess your application based on as little as 6 months of bank statements and proof of identity.

Security is not always required, though pledging an asset can improve your loan terms.

Consistent, on-time repayments can help rebuild your credit profile over time.

Cons

Interest rates for this type of lending may be higher than standard business finance products.

Depending on your situation, some lenders may require an asset as security.

How Lenders Determine Your Borrowing Capacity

When assessing your application, lenders look beyond the credit file and evaluate several other factors to determine how much funding is available:

Financial strength

For unsecured facilities, lenders place significant weight on the strength of your business's cash flow and its ability to service the debt. A higher average monthly revenue generally supports access to greater funding amounts.

Time in business

To lenders, “time in business” could be evaluated as a factor of the momentum in the business. Usually, lenders assume businesses that have been operating for more than a year are more likely to take on more debt obligations. It just means that new businesses might not be able to borrow as much as established businesses. As time passes with on-time repayments being made, your loan capacity will gradually increase.

Industry

The funding amount available can differ based on the industry your business operates in. This is because every industry has different methods of collecting payments from their customers. If your business is mainly selling products directly to end-users (B2C), you may collect payments in cash or credit card, which provides you with an immediate source of revenue, which is usually favoured by lenders.

On the other hand, if your business mainly makes commercial transactions with other businesses (B2B) where invoices are often used, the delayed payments may be seen as a risk by lenders, which could impact the loan amount you can borrow.

Quality of Accounts Receivable

This factor represents the likelihood that the cash flows that are owed to a company in the form of receivables are going to be collected. If your business debtors have been paying you on time, you are likely to be able to secure a higher amount of loan.

Value of security

Pledging an asset as security can allow you to access up to 75-80% of the asset's value as a loan. These assets can include vehicles, appliances, business equipment, etc.

Do not let any of the above factors discourage you from reaching out. Broc Finance works with each business individually and is here to help you present your strengths effectively to lenders so you can secure the finance you need.

What Documents Do You Need to Apply?

Low Doc

Applications for amounts up to $150k can generally be assessed with minimal documentation.

  • Last 6 months bank statements.
  • Valid identification proof.

Full Doc (addition to low doc)

  • Financial statements
  • ATO statements
  • BAS statements

Ways to Improve your credit rating

It’s important to start taking steps to boost your credit score. Here are some tips that you can do to achieve that:

If you place enquiries with multiple lenders, there’s a high chance that the lenders would run a credit check on your file prior to assessing your file and in case your application is declined, the credit check would leave an impression on your while which may adversely impact your credit score.

Utilities such as gas and electricity are included, as are rent or mortgage payments in the credit file, so ensure to make all the payments on time.

If you are struggling to meet repayment terms, contact your lender early. Most lenders can offer hardship arrangements or payment plans to help you through slower periods, which is far preferable to missed payments being recorded on your credit file.

How the Application Process Works

1. Check your eligibility

Check the basic loan eligibility of your business and complete the application form which takes 60 seconds.

Apply now 1300 253 041
chat_001

2. Submit your application

Once you complete your application form. We get in touch to discuss your business requirement and advice the documents required.

complete_001

3. Get you approved as quick as 24 hrs

Once we get all the documents required, we login your application with the most suited lender and get the loan approval in as low as 24 hours.

approved_003
approved_004

Get pre-approved without any credit checks!

Choose loan options

Success Stories...

Our customers that were just like you!

Apply now

Customers that reached new heights with our support

See all stories
success-story23_001

$1.625M

Secured business loan (caveat)

Entertainment Industry
Learn More
success-story22

$51.5K

Unsecured business loan

Medical Industry
Learn More
success-story21

$100.0K

Unsecured business loan

Software & IT Services Industry
Learn More

Real results with real people.

133+ customer reviews

5.0

Supratick Choudhury

Supratick Choudhury

It was a difficult loan request. But the diligent, sensitive and tailored approach of Saroj from Broc Finance made all the difference. I could finally get my loan request approved through him after series of applications and rejections from many other loan providers..he hand held the whole process end to end..I will look forward to manage my future debt structure working closely with Broc Finance..Good work guys 😊
Toni Speakman

Toni Speakman

I don’t usually post reviews on the internet, but I feel compelled to write one about our recent experience with Broc Finance. In particular, we’d just like to thank and recommend Neeraj, who has been extremely professional, quick to get back to us regarding information and has exceptional easy-going language so we could understand what was happening and what we needed to do. He endeavoured to get the help we needed in a very short amount of time and the funds were in our account within 2 weeks of applying. Neeraj managed to secure our loan at a much lower interest than the big banks and we would recommend Broc Finance - especially Neeraj, to anyone who is seeking financial assistance away from the big greedy banks. This is the 2nd time we’ve used this service, and it won’t be the last. Thank you.
MAV

MAV

Incredible and professional service with very quick turnaround for a commercial loan. Saroj was great to deal with and assisted along the way, and was very clear about our options and constantly kept us updated with progress. Highly recommended.
Chi Morris

Chi Morris

Dear Sas, I want to express my heartfelt gratitude for your efficiency and the exceptional support that you have provided in helping me meet my business needs. It was always easy to deal with you and you were always available to answers every question. I was also quite impressed by your professionalism and efficiency which were quite exceptional. Thanks for going above and beyond to deliver an outstanding service. I look forward to working with you again in the future.
VINEET PASARNIKAR

VINEET PASARNIKAR

Saroj your service is Amazing I am very happy Anand recommend all my friends and colleagues. Your staff also very good. Very fast & good options available.

Have questions? Talk to a specialist!

Read our FAQs 1300 253 041
form-img

What loan are you looking for?

Tell us about yourself

Can't remember? Find it here

Frequently asked questions

Applying through Broc Finance is straightforward and fully online. Complete the application form with your basic business details, and we will send you a secure link to upload your last 6 months of bank statements. Additional documents may be requested depending on the type of facility.

In many cases, yes. However, each lender applies its own assessment criteria. Some traditional banks place significant weight on credit history, while specialist lenders on our panel may approve an application based primarily on your current business cash flow and trading performance.

For a secured facility, the primary requirements are an active ABN and available equity in a property asset.

For an unsecured facility, the general criteria are:

  • Have an active ABN
  • At least 6 months of trading history
  • Monthly turnover above $5,000 for the past 6 months

No, security is not always required. Lenders can approve unsecured facilities based on your business's cash flow, provided it meets their serviceability criteria. Offering security does, however, give you access to higher amounts and more competitive rates.

Early repayment is generally possible, but you should review your loan agreement for any early repayment fees or penalties before proceeding.

Lenders recognise the urgency that business owners often face. In some cases, funds can reach your account within 3 to 4 hours. On average, approval and settlement for an unsecured facility takes between 24 and 48 hours.

Lenders would run a credit check only after obtaining a consent from you which is present in the terms and conditions of most of the lenders and you’ll need to agree before submitting the application. At Broc Finance, we can get an indicative quote from the lender prior to starting a formal application with the lender which would save upfront credit check on your file in case you do not meet the lending criteria of the lender.

The loan application is obligation free and there are no application costs involved. You’ll be charged an origination fee only after your loan is approved and disbursed into your account. The origination fees differ from lender to lender and generally ranges between 2%-4% of the loan amount. The origination fee is a one-off fee and is on top of normal interest charged on the loan amount. Please contact us if you wish to know more details.

In most cases, we seek an indicative offer from the lender before proceeding with a formal application and credit consent. This protects our clients from unnecessary enquiries on their credit file and reduces the risk of upfront rejections.

We would be happy to answer, if you have any other questions. Please contact us.

Apply Now
Talk to a Specialist