There are several financing options available for small business owners in NSW. Among all of them, small business loans are the most common choice.
If you’re not sure how to secure a small business loan in NSW, here are steps you can follow:
To get approved for a business loan, you need:
If you’re just starting your business in NSW and don’t have at least 12 months of trading history, then there are a few other documents you need to provide other than the ones mentioned above. These documents are the following:
It can be easy to apply for a loan from the first lender you see. However, there are things you need to consider to make sure that your chosen provider is right for your business.
First, check how much interest they’re charging your loan. You need to make sure that you’re getting the best deal, which means lower interest rates. This is so you don’t end up having to pay a ridiculous amount of interest expenses.
Next, you also need to consider your loan’s repayment tenure. Although a longer tenure might mean lower monthly payments, in the long run, it also results in higher interest costs. Make sure the repayment length of your loan doesn’t end up costing you more than you can afford.
Finally, see if the loan provider has any other fees that you might need to pay. There are some lenders that impose service charges, statutory charges and prepayment charges. Although the charges may seem small and insignificant, they could drastically increase borrowing costs and can affect your ability to repay the loan.
It can get overwhelming trying to find new business loans in NSW, especially if your business is just starting out. Fortunately, Swoop can help you get started.
You no longer have to worry about the hassle of finding the right funding for your business. With Swoop, you can easily search tailored loan options from different banks and lenders. This allows you to save not only time but energy and costs as well.
Swoop helps you find the best deals in the market and matches you with relevant funding opportunities. Finding the right funding solution for your business has now become a lot easier.
Swoop was amazing! I was looking for refinancing and they were straight onto finding me the best possible option. I would highly recommend them.
Laree Smith
Owner, F45 Cambridge
Join the 70,000+ businesses just like yours getting the Swoop newsletter.
Free. No spam. Opt out whenever you like.
Suite 42, 4th Floor, Oriel Chambers, 14 Water Street, Liverpool, L2 8TD
View in Google MapsKingfisher Way, Silverlink Business Park, Newcastle upon Tyne, NE28 9NX, UK
View in Google MapsSuite 105A, Airivo, 18 Bennetts Hill, Birmingham, B2 5QJ
View in Google MapsAberystwyth Innovation and Enterprise Campus
Gogerddan Campus
Aberystwyth University
Ceredigion
SY23 3EE
Dogpatch Labs, The CHQ Building, Custom House Quay, Dublin, Ireland
View in Google MapsSuite 801, Level 8, 84 Pitt Street, Sydney, NSW 2000, Australia
View in Google Maps43 W 23rd St, New York, NY 10010, United States
View in Google Maps21 Dreyer Street, Cape Town, South Africa, 7708
View in Google MapsClever finance tips and the latest news
delivered to your inbox, every week
Join the 70,000+ businesses just like yours getting the Swoop newsletter. Free. No spam. Opt out whenever you like.
We use necessary cookies to make our site work. You can change your cookie settings in Cookie Preferences
closeOur use of cookies
We use necessary cookies to make our site work. We'd also like to set optional third-party cookies to help us improve the experience. Using this website will set a cookie on your device to remember your preferences.
For more detailed information, please see our Cookie Policy
Necessary Cookies
These are cookies that are set by Swoop necessary for our website to function.
Third Party Cookies
These are services that are set by Third party companies in order to help us to understand and improve our website, remember preferences and to display advertising.
Necessary Cookies
We require some cookies for the operation of our website, which do not gather information about you that could be used for marketing or remembering where you have been on the internet.
For more detailed information visit our Cookie Policy
Third Party Cookies
These cookies help us to improve our website by collecting and reporting information on how you use it. The cookies collect information in a way that does not directly identify anyone.
For more detailed information visit our Cookie Policy