Bad Credit Business Loans

Australian Lending Centre is a bank-alternative finance provider, even for those entrepreneurs with bad credit. If you need help with bad credit business financing, talk to us today.

Apply for a bad credit business loan


        
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No impact on your credit file

No impact on your credit score

Business Loans With More Options

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.

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.

Why Choose Us for debt consolidation

An ALC bad credit business loan Offers...

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. Australian Lending Centre is flexible with our terms and rates and understands 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.  You can choose from two types of bad credit loans either secured bad credit loans and unsecured bad credit loans:

Reasons For Bad Credit Business Loans

start up business loans

Start a business

Recruit Staff

Recruit Staff

Country Farm Loan

Purchase Equipment

order inventory

Order Inventory

Australian Lending Centre - Client Resources and Media

Increase marketing

Business Loans Services

Buy / Rent Office Space

Growth & Expansion

Growth & Expansion

Guide to lending

Cover Tax Debt

Factory Financing

Cover Working Capital

Development & Construction Finance

Repairs

barbara's business example

Why Apply for Bad Credit Business Loans?

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.

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.

benefits of private lenders
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
Bad credit for business loans

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:

The Bad Credit Business Loan Application Process

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 bad credit business 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.

apply online

1. Apply Online

Our form takes less than 30 seconds and won't impact your credit score.

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2. Let's Talk Finance

Once we get your enquiry, we will call to clarify details and get to know you.

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3. Upload Documents

You will need to upload your documentation so we can verify your information

sign loan offer

4. Sign Loan Offer

Once your loan is approved, check and sign your loan offer.

Loan funds transferred

5. Funds Transferred

Funds can be transferred in as little as 48 -72 hours from loan approval.

Business Loans with 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.

If you’ve had issues getting finance approval, you may have bad credit. The first step is to get a complete picture of your credit history, by applying to get a copy of your credit report. 

Check your credit report:

Obtain a copy of your credit file, and check for negative listings. You can get this through the following credit reporting agencies:

By law, you are able to get a free credit report year, or, if you are refused credit, within 90 days. You can also pay a small fee to get a copy at any time.

Make sure the information is correct:

Many people have mistakes listed on their credit file, caused by an incorrect listing by the financial institution or in serious cases, identity theft.

If there is a mistake get in touch with the credit provider, credit reporting agency or office of the Privacy Commissioner. If this sounds too complicated, we can help

Rebuild your credit score with a credit card and paying bills on time:

It is important to note that no borrowing money can cause you to have little to no credit history. Having a credit card with a low balance where you pay it out every month, can make you look better in the eyes of credit providers. It shows you can handle your money and debts. For those of you who struggle with credit cards, have a low balance, so you don’t get into hot water.

Make sure that you pay your utility and phone bills on time, as these can end up in the hands of debt collection agencies and be listed on your credit file.

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

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.

It’s easy. Just apply with the Australian Lending Centre, which takes just 30 seconds and won’t affect your credit score in any way, and we will get in touch. Our specialist loan consultants will guide you through the process and find the best loan product to suit your credit circumstances. Our goal is to put you in a better situation than you are currently in. We have a wide range of lenders to choose from.

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

Funding a new business is not always an easy process. It is very obvious that the big banks make start-up funding nearly impossible. To the banks, a new enterprise is placed in the “too hard basket” and under the high-risk category. Banks are more inclined to cater towards more well-established businesses have shown previous profitability and have full financial statements over the past 2-4 years.

Start up business loan is very straightforward, it is one of the most popular products we offer here at Max Funding.

Over 80% of Australians dream about owning their own business. However, the first challenge for many of these new business owners is the lack of funding. Typically business owners don’t have enough business experience and find it difficult to obtain loans from mainstream banks and lenders in Australia.

The Australian Lending Centre have dealt with many successful start-ups, many of whom are now household names. New business owners are faced with a multitude of challenges and cashflow is probably the biggest, followed by tax debt management. Our criteria makes it a lot simpler for new businesses to get a bad credit business loan. Our specialist loan consultants are start-up savvy, unlike traditional banks. We don’t require a business plan or a credit check for our pre-approval. 

Our primary focus is on potentially successful new businesses that the banks have turned down. Our belief is that these start-up businesses deserve a fair go. Apply for a bad credit business loan with Australian Lending Centre today so you have the funding you need to launch, with flexible repayment options and competitive interest.

If your business has multiple debts with high-interest rates and fees, a debt consolidation loan can be the answer. With business debt consolidation, we combine all your existing debts into a single loan, usually at a lower interest rate and one set of fees, and a longer payment term, to make managing repayments more manageable. This can free up much-needed capital and allow you to operate more effectively as a business.

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.