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We are your partner in financial services

Broc Finance is committed to small business owners with the financial support they need to succeed. Our team of lending experts understand the challenges faced by SMEs today and is dedicated to providing innovative financial solutions that meet their unique needs. Whether you need a Secured Business Loan, Refinancing or any other type of financing, Broc Finance can help. We are experts in getting flexible repayment terms, competitive interest rates, and fast approval times to ensure that your needs are met in a timely manner. The success in facilitating the funding and refinancing of the property is a testament to the importance of having access to expert financial services. In today’s competitive market environment, it’s crucial for homeowners to have access to funding that can help them refinance their property, seize new opportunities, and grow their businesses.

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Meet the business

Our customer was looking for a flexible business line of credit option which can allow him to use the funds on adhoc basis.

The customer shopped with few lenders directly (which caused multiple enquiries on his credit file) as well but was not able to find the optimum solution and that’s when they approached us.

Solar Industry

Queensland, Australia

The challenge

Our lending specialist took the matters in his hands and started with a personal consultation to understand his business requirement in detail. To avoid any further credit enquiries on his file, our lending specialist started by getting 3 indicative offers within a couple of hours.

The solution

Date

July 2021

Funded

$150,000

Turnaround Time

24 hours

Product

Business line of credit

Funding

Get Capital

At Broc Finance, we pride ourselves in helping our clients. The client found one of the options very attractive which ticked all his boxes plus was saving him almost 5% p.a in interest costs against the offer he received directly from a lender.

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Learn more about unsecured business loans

What do you need to be eligible?

Be an Australian Business operating in Australia with an active ABN

Annual turnover of minimum $75k

Trade for a minimum of 3 Months

Profitable business with a good cash flow

Good credit score

Read more or speak to an expert!

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What are the benefits of Business Line of Credit?

Benefits

A business line of credit gives flexibility to use the funds whenever needed.

A business line of credit can be secured or unsecured, so you don’t necessarily need a security.

No early repayment penalty. You can simply pay off when funds are not required.

A business line of credit allows you to save lots of interest as you only pay on what you use.

Peace of mind with revolving facility term available upto 5 years.

Real results with real people.

99+ customer reviews

5.0

Aktaruzzaman Rasel

Aktaruzzaman Rasel

Thank you Neeraj Indraghanti and his team. Really apricated you help to getting the loan when we needed. We had an amazing experience with this company. We are so pleased with the service received from Neeraj. He went above and beyond to help us get out of the situation. The loan process was easy and hassle free. Looking forward to use your service in future too.
Tabitha Pomente

Tabitha Pomente

Working with Saroj and the Bronc Finance team has been an incredible experience. Their professionalism, knowledge, and support throughout the process have been outstanding. I couldn’t be happier with the service and results — highly recommended!
Don Hett

Don Hett

⭐️⭐️⭐️⭐️⭐️ Highly Recommend Saroj from Broc Finance! Saroj was incredibly helpful from start to finish. He listened to all my requirements, understood my situation, and got me the funding I needed super fast. I really appreciate how efficient and responsive he was throughout the whole process. If you’re looking for someone who actually cares and gets the job done without delays, Saroj is your guy. I highly recommend him for anyone needing funding support. A big thanks to Saroj and the team at Broc Finance for their great work. Wishing you all the best!
Mugdha Chandekar

Mugdha Chandekar

A Trusted Partner in Commercial Finance I had the pleasure to discuss with Broc Finance on a complex commercial mortgage transaction, and I can confidently say they are the experts and professinals in this space. If you're looking for a commercial mortgage broker who brings clarity, integrity, and genuine commitment to the table, Broc Finance is the one to call. Highly recommended for any business owner seeking tailored financial solutions.
Yogendra Jayadeva

Yogendra Jayadeva

Partnering with Broc Finance (and Saroj) has been a fantastic experience—seamless support, quick turnaround, and successful outcomes for even the trickiest business loan scenarios. Highly recommend them for reliable and efficient Business lending solutions!
Deepesh Parikh

Deepesh Parikh

Saroj knows his business. To the point guidance, everything from start to finish was as expected and confirmed by him. Always recommend him for sorting it your personal or business finances. Thanks a lot for all your help Saroj.
Daniel Butel

Daniel Butel

Saroj and the team are great, they are open and transparent with advice. Truly are advocates for your business and help to cut through the finance jargon that’s hard for business owners and operators to decipher
Zoltan Matrof

Zoltan Matrof

I wanted to express my sincere gratitude for your outstanding support in helping me secure finance. Your professionalism, clear communication, and dedication made the entire process smooth and stress-free. I truly appreciate your expertise and commitment—thank you for going above and beyond to assist me! World Gym Busselton

Have questions? Talk to a specialist!

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FAQs about Business Line of Credit / Business Overdraft

A business line of credit is similar to having a credit card limit. You would be approved a line of credit limit at the start of the loan. Once the limit is set, you can utilise part or full of the funds as required and pay it back whenever you wish. You would be charged interest only for the period of utilisation of the funds.

A business line of credit could not necessarily be a right fit for any business. It all depends on the nature and term of funds requirement into your business. If your business has seasonal fluctuations in cash flow and you do not require the funds on an ongoing basis, a business line of credit would be right product for your business as you would have to pay interest only when you utilize the funds.

However, if a business has an ongoing requirement and you are likely to utilize the funds through out the year, a business term loan could be a better product as the borrowing costs may come cheaper as compared to a business line of credit loan. Please feel free to reach out to us on  1300 253 041 or  send us a message in case you wish to know more.

A business line of credit may have the following borrowing costs: 

Interest cost: Interest charged on the funds utilised.

Line fees: This is a small monthly/weekly/Annual fee charged by the lenders for facilitating you a line of credit throughout the term of the loan irrespective of your utilisation. This fee is charged on top of regular interest incurred on utilisation of funds.

Drawdown Fees: Some lenders may charge a small drawdown fees on each drawdown instead of line fees. This fee is charged on top of regular interest incurred on utilisation of funds.

Most of the lenders calculate the interest on daily utilization basis and charge monthly to the accounts.

Lenders may require you to pay the interest plus a percentage of the principal drawn on a weekly/fortnightly/monthly basis or simply amortize each drawing over a period of time (similar to term loan).

Generally, the term of a business line of credit range between 1 year to 5 years. Few lenders also provide a rollover facility at the end of the term.

A business line of credit may not always be the right option for your business as you may have a fixed term loan requirement, or an instalment repayment structure would be more suitable to the cash flow of the business. There are various alternative business loan options which we can help you with. Some of the popular options are secured business loan, business line of credit, debtors finance and invoice finance facilities. Please reach out to us on 1300 253 041 or send us a message. One of our lending specialists would get in touch in no time to assist you.

At Broc Finance, we endeavour to get the most adequate facility suitable to the business requirements of our clients. In most of the cases logged in through us, we try to get an indicative offer from the lender for our client’s consideration before proceeding with formal application and consent to credit check. This approach helps our clients to avoid unwanted rejections and credit checks which can significantly impact their credit score.

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

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