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Bad Credit Business Loans

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Forget Your Past & Focus on Your Future

Thousands of Aussie business owners get rejected business loans from banks because of a bad credit history. At the Australian Lending Centre, we firmly believe that your past is your past for a reason. We have helped thousands of Australians turn their businesses around with bad credit loans. We offer no judgement, only support.

Whether you are looking to expand, grow, recruit or cover costs – we have a wide range of financial options to suit you. With over 30 years of finance experience, our specialist team is trained to tailor bad credit business loans to suit your needs.

What Is A Bad Credit Business Loan?

When you apply with us, it has no impact on your credit file, so you can apply with confidence. You will not be punished further by enquiring, but you can receive finance solutions!
Getting a bad credit business loan with Australian Lending Centre is a quick and easy process:
Bad credit business loans give you the opportunity to obtain finance even when banks say no. They give you a 2nd chance at finance. Generally, a bad credit business loan comes with a higher interest rate because your credit history suggests that you could be a risky lender. However, Australian Lending Centre are flexible with our terms and rates and understand that it is easy to fall into the bad credit trap. We want to provide a solution that suits you and helps you get back on track, so you can move forwards towards a positive financial future.  There are two types of bad credit loans. Secured bad credit loans and unsecured bad credit loans:

Secured Bad Credit Loans

  • The loan is secured against an asset that you own, such as a house or car.
  • The asset acts as insurance for the lender to ensure that repayments are made after entering into a contract.
  • Secured bad credit business loans come with lower rates and more flexible terms.

Unsecured Bad Credit Loans

  • The loan is taken out purely on a trust basis that you will keep up with repayments.
  • Lenders will usually not risk granting an unsecured bad credit loan.
  • Unsecured bad credit business loans come with higher interest rates and more rigid terms.
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What Can Bad Credit Business Loans Be Used For?

Perhaps you need bad credit loans to start a business, or maybe to help cover marketing costs. The fact is that whatever the reason, there are options available for you. Bad credit loans come with fewer restrictions than traditional loans, so if your business needs an extra financial kick but the banks have said no, then your next best option is a bad credit business loan.
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Benefits of private lenders

Traditional banks base their lending decisions on credit worthiness, meaning that businesses who have defaulted on previous loans or have poor credit are simply excluded from finance options. Therefore, no matter how reputable your business is, if you have made financial mistakes in the past then bad credit can hold you back.

This is where private lenders come in to provide solutions that the banks can’t. If your business has a bad credit rating then non-bank lenders can creatively structure loans to make repayments manageable, benefitting both parties.

However, it is worth bearing in mind that interest rates will be higher for bad credit business loans. This is because offering financial options to businesses with bad credit comes with a greater risk to lenders. Therefore, interest rates are increased to mitigate the risk. For this reason, it is unlikely that you will be able to receive the same low rates that you might if you had a good credit score.

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comparing bad credit business loans

Comparing bad credit business loans

While bad credit business loans do come with higher interest rates, there are predatory lenders out there who will try to take advantage of your circumstances. Bad credit lenders generally offer loans with interest rates ranging between 15 – 25%. However, payday lenders and loan sharks typically charge anything from 100% – 200% interest. It is important to find the right lender who will support you and not drive you into a worse financial situation.

Before entering into any financial agreement, check that the lender is reputable first by looking at their credit licence number (should be in website footer) and by looking at reviews and client testimonials.

Once you have found a few reputable options, the next step is comparison. Compare the repayment length, interest rates, flexibility of terms and more here with our loan comparison calculator tool.

What do lenders look for?

When applying for bad credit business loans, lenders will take a number of different variables into account:

what to business lenders look for
business credit repair

Credit Repair

If you personally have a bad credit rating then this may hold your company back from getting a regular loan. Before applying for a bad credit business loan and paying higher interest rates, you might want to first consider credit repair to restore your personal credit rating.

This is the process of removing negative listings from your file so that you can confidently apply for loans again. We always recommend fixing the root of your problems before adding to your debt. There are many companies out there who make false promises, however we recommend Clean Credit.

They have a proven track record and their Trustpilot reviews back this up. Clean Credit will be able to help to clear up why your credit rating is so poor and can proceed to fix your rating for you.

How Do You Get Bad Credit?

You may have a bad credit history for a number of reasons. Here are the main causes of a personal bad credit rating:

Bad credit for business loans

Why choose a non-bank lender for a bad credit business loan?

If credit repair isn’t for you, then a bad credit business loan can provide your company with the financial resources it needs, while also boosting your credit score! By receiving a bad credit loan from Australian Centre and making repayments on time, you can expect to see an increase to your credit score, putting you back in control.

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How Can I Get a Business Loan with Bad Credit?

The best way to see if you qualify for a bad credit business loan is to enquire online, call us, or chat to us using the chat box in the bottom right corner of the screen. Applying with us for bad credit business loans has zero impact on your credit rating and there is absolutely no obligation. One of our team will be in touch with you by phone within 24 hours.

Our loan specialists will take a look at your situation and determine whether we can help to meet your needs. From here, you could receive funding within 24 – 72 hours if you qualify.

The Bad Credit Loan Process

fast response time

Fill out the enquiry form

It takes 30 seconds

call Australian Lending centre now

A Loan Specialist will call you

Usually within 24 hours

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Receive funding if accepted

This is a speedy process

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Funding as soon as 24 hours

Usually between 24 – 72 hours

Bad Credit FAQ's

A bad credit history will usually mean that traditional lenders see you as a credit risk and therefore, it will be more difficult to obtain finance. However, the Australian Lending Centre can provide support to those seeking bad credit loans and find the most competitive interest rate with the best terms of repayment available. Contact us on 1300 138 188 for advise or financial support.

A bad credit rating has an impact on your ability to borrow money from traditional lenders. However, there are a number of things you can do to fix your bad credit rating. Here are a few tips we suggest:

Pay Off Your Debts

A bad credit history will never be repaired if you have black marks and outstanding defaults on your credit file.

If you are struggling to pay off your debt, you should consider talking to the Australian Lending Centre about negotiating with your creditors or entering a debt agreement to pay off your debts.

Repair Credit

If your debts are already paid off then it might be worth looking more closely at your credit file. We recommend getting in touch with Clean Credit who are the market specialists in this field.

They will be able to talk you through what is on your credit report and the reason behind your bad credit rating. From here, you can go through the process of credit repair and get defaults, judgements and credit inquiries removed from your credit file.

Cut up Your High Interest Credit Cards

Credit cards and store cards are one of the quickest ways to get a bad credit rating. When you miss a few months of payment, your credit card provider can place black marks on your credit report which can take years to be removed.

Credit card debt is one of the easiest ways to get into trouble as many people are accustomed to relying on credit card debt to get them through life when they do no have sufficient funds to finance their lifestyle.

Even when credit cards are paid off, they can be run back up to their limit in very little time.

With such high interest rates on credit card debt and store cards, the best option is to simply cut up your credit cards and stop spending on them.

This means changing your spending habits slightly, for example, using a debit card instead of a credit card.

This may help you prevent another infringement or black mark leading to a bad credit rating.

Our loans start from $5,000. We can advise your maximum limit over the phone once we have assessed your individual situation.

This is a common scenario – you are not alone. We understand sometimes life can throw tough times at us, and you may have had difficulty with making payments on time. Our consultants will look at your situation and discuss the best finance solutions available to you.

We will cover any upfront costs that may be incurred and recover them once your loan is settled.

We service the entirety of Australia in both urban and rural locations.

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