Discover The Perks Of Taking Out Quick Business Loans

Are you looking for a lender that offers quick business loans? Well, look no further. At OnDeck, our small business loans are perfect for SMEs who are looking for fast business financing solutions. With us on your side, navigating urgent business loans and finding the right one for your venture becomes a walk in the park.

Get the loan that fits your goals 

Every business has its own unique aspirations, challenges, and evolving needs. Recognising this, OnDeck offers loan options that align with your specific business goals. Whether you’re looking to expand, innovate, or simply manage day-to-day expenses, our quick business loans are designed to ensure you have the financial support to realise your ambitions.

Lightning Loans

Our Lightning Loans are designed for swift financial support, offering amounts ranging from $10,000 to $175,000. These loans are ideal for SMEs in need of immediate capital for things like restocking inventory, equipment financing, marketing initiatives, or managing operational costs. 

The application process is streamlined, requiring only six months of recent business bank statements to get started. So, you can access funds quickly and efficiently.

Lightning Loans Plus

For businesses seeking larger capital, our Lightning Loans Plus range from $175,001 to $250,000, providing a substantial financial boost for significant projects such as expansion plans and investing in new facilities.

In addition to the standard requirement of six months of business bank statements, applicants for these larger loans will need to provide accountant-prepared financial statements from the past twelve months. This additional documentation helps us tailor the loan to your business’s specific financial situation, offering a customised solution that supports your growth trajectory.

The Koala Score difference

Our cutting-edge technology enables us to make loan approval decisions in as fast as thirty minutes. This is made possible by our Koala Score, a revolutionary credit scoring system tailor-made for Australian businesses. 

By analysing thousands of data points combined with our years of extensive lending experience, our Koala Score stands out as one of Australia’s most predictive credit scoring engines. This innovative tool gives us a detailed and accurate understanding of your business’s financial health, enabling us to offer loan amounts that truly match your needs.

Dedicated support for your convenience

We get it. Dealing with loans on top of managing a business can feel overwhelming. At OnDeck, we’re aware of how much extra guidance can go a long way when it comes to clearing up any confusion and addressing concerns. That’s why every client is paired with a dedicated Australia-based loan specialist, ensuring personalised support throughout the application process. 

Frequently Asked Questions (FAQ)

What are the advantages of quick business loans?

Speedy process

Quick business loans shine in their ability to expedite the application and approval process, a great perk for businesses in need of urgent financial intervention. 

OnDeck takes pride in our streamlined online application, which will only take minutes to complete. The best part is that, once you get approved, funds can be transferred to your account in as soon as two hours. This rapidity is invaluable when immediate access to capital is critical for addressing sudden business needs or emergencies.

Flexible terms

Unlike traditional bank loans, which often come with extended repayment schedules, quick business loans from OnDeck offer the advantage of shorter, more manageable repayment periods. 

Our loan terms are tailored to the unique demands of small businesses, featuring weekly repayments throughout six to twenty-four months. The flexibility of these terms allows businesses to align their loan obligations with their financial capacity, ensuring that the loan supports growth without imposing undue strain on their resources.

Do I need to provide collateral for a quick business loan?

Typically, many loan companies mandate collateral for securing a loan, which introduces a tangible risk of asset forfeiture at the failure of repayment. This requirement not only elevates the stakes for borrowers but also prolongs the application and approval timeline due to asset evaluation, which makes instant loan approval much harder. 

That’s why, at OnDeck, we offer unsecured business loans. Our philosophy is to support your business’s growth without ensnaring your personal assets, such as your house or car, in the process. This stance ensures that your valuable assets remain untethered and secure, allowing you to focus on what truly matters: scaling your business.

How do I find the best quick business loan for my company?

With a quick online search, the results will show you that the market is saturated with a plethora of options when it comes to quick business loans. It can make searching for and selecting easy loans online daunting.

The key is to evaluate each lender’s funding speed, requirements, loan amounts, and repayment terms. Then, choose the solutions that best align with your business’s financial situation, business goals, and specific needs.

At OnDeck, we simplify this decision-making process for you. Our commitment to providing quick business loans, on top of our straightforward requirements, easy application process, and flexible terms, positions us as the optimal partner for your business finance needs.

Achieve your business dreams

At OnDeck, we’re more than just a business lending partner; we’re a team that believes in your dream. With our years of experience in the industry, our commercial loans have helped thousands of Australian businesses sustain and grow their ventures. We know how special and important small businesses are, and our quick business loans are designed to keep them thriving. 

So, what are you waiting for? Apply today and see how getting a business loan with us is the next step towards realising your venture’s full potential.

This article is for general information purposes only. Content may belong to or have originated from third parties, and OnDeck takes no responsibility for the accuracy, validity, reliability or completeness of any information. OnDeck is not a financial adviser. You should consider seeking independent legal, financial, taxation or other advice to check how this information relates to your unique circumstances. OnDeck is not liable for any loss caused, whether due to negligence or otherwise arising from the use of, or reliance on, the information provided directly or indirectly by the use of this website.