Frequently asked questions

No. There's no credit check when you first enquire. A credit check is only discussed once you decide to go ahead with a specific option.

No. One person at LendFriend works on your enquiry and matches it to an option that suits the purchase. Your details aren't sprayed across a list of lenders.

About a minute online. Tell us what you're buying, roughly what it costs and a few things about the business. A real person then calls you.

Usually a quote or invoice for the purchase, recent business bank statements, ID for the owners and your ABN. Property-backed loans also need property details. We tell you exactly what's needed once you decide to proceed.

Because it decides which option we bring you first. Accurate turnover, purchase and property details mean the first answer is the right one, not the start of a second round of calls.

Unsecured and cash-flow options for trading businesses typically run from $5,000 to $500,000, sized on turnover and bank statements. Property-backed business loans run from $20,000 to $5,000,000 against residential or commercial property.

Not for smaller amounts if the business is trading well. Property security helps with larger amounts, newer businesses, business purchases and imperfect credit.

Every business loan is priced on the business's situation: security, term, credit history and the purchase itself. A published number would be wrong for most people. We give you the full cost in dollars once we understand your situation.

On total cost in dollars over the time you'll keep the loan, including every fee, rather than the repayment amount. Our guide to comparing business loan offers walks through it.

Business purposes: vehicles, equipment and machinery, fit-outs, technology, stock, energy upgrades, a premises deposit, a big contract or a whole business.

Yes. Some financiers that lend against the asset itself limit age or private sales, but business loans that don't rely on the asset can fund them. Always run a PPSR search on used goods.

Yes. Dealers, suppliers and builders are commonly paid directly. Business purchases are paid at settlement.

No, LendFriend is for business purposes only. If a purchase is mostly personal, our personal loans page points you to people who can help.

Often. Past credit issues and ATO debt are considered case by case. Be upfront on the form and we'll tell you honestly what's realistic.

Often, yes. Low doc options use bank statements, BAS or an accountant's letter instead of full financials, and property security can help further.

With property security, often from day one. Without it, many unsecured lenders want a few months of trading first.