Are you a small business owner in Australia in need of quick financing?
Short term business loans could be the solution you need.
These loans are designed to provide fast access to capital with a repayment period typically ranging from three months to two years. In this article, we’ll take a closer look at some of the best short term business loans available in Australia.

1. MaxFunding
MaxFunding offers a range of loan products including short term business loans, merchant cash advances, and unsecured business loans – from $2,000 to $500,000 with repayment terms ranging from one to 36 months. They also provide a simple and streamlined loan application process with fast approvals and flexible repayment options.
MaxFunding provides borrowers with a dedicated account manager who can offer support throughout the loan process. They also offer online account access, which allows borrowers to manage their loan repayments and track their cash flow. Additionally, they have a user-friendly online platform that provides real-time reporting and analysis, enabling borrowers to manage their cash flow more effectively.
Upside:
- Fast and easy application process: MaxFunding offers a quick and streamlined application process that can be completed online in just a few minutes.
- Flexible loan options: They offer a range of loan options to suit different business needs, including short-term loans, business lines of credit, and equipment financing.
- Excellent customer service: MaxFunding has a reputation for providing friendly and responsive customer service, with many customers reporting positive experiences with their support team.
Downside:
- High interest rates: Like many alternative lenders, MaxFunding’s interest rates can be higher than those offered by traditional banks or credit unions.
- Strict lending requirements: To qualify for a loan, businesses will need to have been trading for at least 12 months and have a minimum monthly turnover of $10,000.
- Limited transparency: Some customers have reported a lack of transparency around fees and charges, so it’s important to read the terms and conditions carefully before agreeing to a loan.

2. Prospa
Prospa is an Australian online lender that provides short-term loans and lines of credit to small businesses. Since their founding in 2012, they have helped over 30,000 businesses access the funding they need to grow and succeed. Prospa offers loans ranging from $5,000 to $300,000, with repayment terms ranging from 3 to 24 months.
Compared to other short-term business lenders in Australia, Prospa is known for their quick and easy application process, which can be completed online in as little as 10 minutes. They also offer a range of flexible repayment options, including daily, weekly, or fortnightly payments, to help businesses manage their cash flow.
One of the key advantages of Prospa is their reputation for excellent customer service, which has earned them numerous industry awards and accolades. They also have a strong track record of approving loan applications, with over 90% of applications receiving a response within 24 hours.
However, compared to some other short-term business lenders in Australia, Prospa’s interest rates can be relatively high, particularly for businesses with less established credit histories. They also require businesses to have been trading for at least 6 months and have a minimum monthly turnover of $6,000, which may make them less accessible to some smaller businesses.
Overall, Prospa is a reputable and reliable short-term business lender that offers fast and flexible financing solutions to small businesses. Their excellent customer service, quick application process, and range of repayment options make them a popular choice for many Australian businesses. However, their higher interest rates and strict lending requirements may not make them the best fit for every business.
Upside:
- Fast and easy application process: Prospa offers a quick and streamlined online application process that takes just a few minutes to complete.
- Funding options tailored to small businesses: They offer a range of loan products designed specifically for small businesses, including short-term loans, lines of credit, and equipment finance.
- Excellent reputation and customer service: Prospa has a strong reputation for providing friendly and helpful customer service, with many positive reviews from satisfied customers.
Downside:
- High interest rates: Like many alternative lenders, Prospa’s interest rates can be higher than those offered by traditional banks or credit unions.
- Strict lending requirements: To qualify for a loan, businesses will need to have been trading for at least six months and have a minimum annual turnover of $100,000.
- Limited transparency: Some customers have reported feeling that fees and charges are not transparently disclosed, so it’s important to read the terms and conditions carefully before agreeing to a loan

3. GetCapital
GetCapital is a privately owned alternative business lender in Australia that offers a range of financing solutions to small and medium-sized businesses. Unlike Prospa, GetCapital is not listed on the Australian Securities Exchange (ASX), which means that it is not a publicly traded company and does not have the same level of transparency and regulatory oversight as Prospa.
GetCapital has been operating since 2013 and has served thousands of Australian businesses in a variety of industries. They provide a streamlined application process with fast approvals and flexible repayment options. They offer a range of financing products, including unsecured business loans, equipment finance, invoice finance, and trade finance.
They have received positive reviews from their customers and have won awards for their customer service and product offerings. They also have a high level of customer satisfaction, with many customers returning for repeat business.
Overall, GetCapital is a privately owned alternative lender that offers a range of financing solutions to small and medium-sized businesses. While they do not have the same level of transparency and regulatory oversight as Prospa, they have a positive reputation in the industry and provide a range of financing options to suit different business needs.
Upside:
- Flexible loan products: GetCapital offers a range of loan products, including business loans, equipment finance, and invoice finance, with flexible repayment terms and competitive interest rates.
- Easy application process: The online application process is quick and straightforward, with decisions made within 24 hours in most cases.
- Good customer service: GetCapital has a reputation for providing helpful and supportive customer service, with many positive reviews from satisfied customers.
Downside:
- Limited transparency: Some customers have reported feeling that fees and charges are not clearly disclosed, so it’s important to read the terms and conditions carefully before agreeing to a loan.
- Strict lending requirements: To qualify for a loan, businesses will need to have been trading for at least six months and have a minimum annual turnover of $250,000.
- Relatively high interest rates: While interest rates vary depending on the product and the individual borrower’s circumstances, GetCapital’s rates can be higher than those offered by some traditional lenders.

4. OnDeck
OnDeck is a US-based online lender that provides short-term loans to small businesses. They have been in operation since 2007 and have funded over $13 billion in loans to more than 110,000 businesses across the United States, Canada, and Australia. OnDeck is known for its fast and flexible loan application process, which can be completed entirely online, and for offering loans to businesses that may not be able to secure funding from traditional banks.
Compared to other short-term business lenders in Australia, OnDeck has a strong reputation for providing fast and flexible financing solutions to small businesses. They offer loans ranging from $10,000 to $250,000, with repayment terms ranging from 6 to 24 months. OnDeck also offers a line of credit option that allows businesses to draw on funds as needed, with repayment terms ranging from 6 to 12 months.
One of the main advantages of OnDeck is their proprietary technology platform, which allows them to analyze a business’s financial data and creditworthiness quickly and accurately. This allows them to make loan decisions and disburse funds quickly, often within 24 hours. OnDeck also provides a high level of customer support and has received positive reviews for its customer service and loan offerings.
However, compared to other short-term business lenders in Australia, OnDeck’s interest rates can be relatively high, and they charge additional fees for things like late payments and early repayment. Additionally, OnDeck requires businesses to have been in operation for at least one year and have a minimum annual revenue of $100,000, which may exclude some smaller businesses from accessing their financing solutions.
Overall, OnDeck is a reputable short-term business lender that offers fast and flexible financing solutions to small businesses. While their interest rates and fees may be higher than some other lenders, their quick approval process and strong customer support make them a popular choice for businesses that need quick access to funding.
Upside:
- Quick funding: OnDeck offers funding decisions within hours and can disburse funds as soon as the next business day, making it an excellent option for businesses that need cash fast.
- High loan amounts: OnDeck offers loans up to $500,000, making it a good choice for businesses that need a larger amount of capital.
- Competitive interest rates: OnDeck’s interest rates are competitive with other alternative lenders, with rates starting at around 9%.
Downside:
- Strict loan requirements: OnDeck has relatively strict loan requirements, and borrowers will need to have been in business for at least one year and have a minimum credit score of 600 to qualify for a loan.
- High fees: OnDeck charges an origination fee on each loan, which can range from 2.5% to 4%, and late payment fees can also be costly.
- Daily or weekly repayments: OnDeck requires daily or weekly repayments, which may be more difficult for some businesses to manage than monthly payments.

5. Moula
Moula is an Australian online lender that provides short-term loans to small businesses. They were founded in 2013 and have since provided over $500 million in funding to more than 20,000 businesses across Australia. Moula offers loans ranging from $5,000 to $250,000, with repayment terms ranging from 3 to 24 months.
Compared to other short-term business lenders in Australia, Moula stands out for their use of machine learning algorithms and advanced data analytics to evaluate a business’s creditworthiness. They can quickly analyze a business’s financial data and make loan decisions in a matter of hours. Moula also offers a fast and easy online application process and has received positive reviews for their customer service and loan offerings.
One of the key advantages of Moula is their flexible repayment terms, which allow businesses to choose a repayment plan that works best for their cash flow. Moula also does not charge any early repayment fees, which gives businesses the flexibility to pay off their loan early and save on interest.
However, compared to other short-term business lenders in Australia, Moula’s interest rates can be relatively high, and they may require personal guarantees or collateral for larger loans. Moula also has a minimum trading history requirement of at least 6 months, which may exclude some newer businesses from accessing their financing solutions.
Overall, Moula is a reputable short-term business lender that offers fast and flexible financing solutions to small businesses. Their use of advanced technology and flexible repayment terms make them a popular choice for businesses that need quick access to funding. While their interest rates and lending requirements may not be the most competitive, their strong customer support and transparent loan terms make them a good option for many small businesses.
Upside:
- Quick and easy application process: Moula’s online application process is quick and straightforward, with funding decisions made within 24 hours.
- Flexible repayment options: Moula offers flexible repayment terms, with loans available for terms between three months and three years, and borrowers can choose between daily, weekly, or monthly repayments.
- No early repayment fees: Moula allows borrowers to repay their loan early without incurring any additional fees.
Downside:
- Limited loan amounts: Moula offers loans up to $500,000, which may not be sufficient for larger businesses with more significant funding needs.
- Higher interest rates: Moula’s interest rates can be higher than other alternative lenders, with rates starting at around 14%.
- Strict loan requirements: Moula has relatively strict loan requirements, and borrowers will need to have been in business for at least six months and have a minimum annual revenue of $5,000 to qualify for a loan.

6. Capify
Capify is an Australian online lender that provides short-term loans and merchant cash advances to small businesses. They have been operating in Australia since 2008 and have provided funding to over 24,000 businesses across the country. Capify offers loans ranging from $5,000 to $300,000, with repayment terms ranging from 3 to 12 months.
Compared to other short-term business lenders in Australia, Capify stands out for their fast and easy application process, which can be completed online in a matter of minutes. They also do not require any collateral or personal guarantees for their loans, making them a popular choice for small businesses that may not have valuable assets to offer as collateral.
One of the key advantages of Capify is their merchant cash advance program, which allows businesses to receive an upfront lump sum payment in exchange for a percentage of their future credit and debit card sales. This program can be particularly useful for businesses that have a high volume of credit and debit card transactions but may not qualify for traditional loans due to their credit history or lack of collateral.
However, compared to other short-term business lenders in Australia, Capify’s interest rates can be relatively high, and they may require daily or weekly repayments, which can put a strain on a business’s cash flow. Capify’s lending requirements may also be more strict than some other lenders, as they require businesses to have been trading for at least 6 months and have a minimum monthly revenue of $10,000.
Overall, Capify is a reputable short-term business lender that offers fast and flexible financing solutions to small businesses. Their merchant cash advance program and lack of collateral requirements make them a popular choice for businesses that may not qualify for traditional loans, but their higher interest rates and strict lending requirements may not make them the best fit for every business.
Upside:
- High loan amounts: Capify offers loans up to $400,000, making it an attractive option for businesses that need larger funding amounts.
- Fast funding: Capify offers a quick application and funding process, with funds usually available within 24 hours.
- Flexible repayments: Capify allows borrowers to choose between daily, weekly, or monthly repayments, making it easier for businesses to manage their cash flow.
Downside:
- Higher interest rates: Capify’s interest rates can be higher than other alternative lenders, with rates starting at around 16%.
- Limited eligibility: Capify has strict loan requirements, and borrowers will need to have been in business for at least six months, have a minimum monthly revenue of $10,000, and have a good credit history.
- Shorter loan terms: Capify offers loan terms up to 12 months, which may not be long enough for some businesses, especially those that need longer-term funding.
How to choose the best short term business loan lender
When choosing the best short term business lender, there are several factors to consider:
- Interest rates and fees: One of the most important factors to consider when choosing a lender is the interest rates and fees associated with their loans. You want to make sure that you’re getting a loan with a competitive interest rate and reasonable fees. Take the time to compare rates and fees among different lenders to find the most affordable option for your business.
- Loan term: The loan term is the amount of time you have to pay back the loan. It’s important to choose a lender with a loan term that suits your business’s needs. Consider how long you need the loan for and choose a lender with a loan term that fits your repayment schedule.
- Application process: A streamlined and efficient application process can save you time and hassle. Look for a lender with a straightforward application process that doesn’t require too much paperwork. Some lenders may even offer an online application process, which can be more convenient.
- Repayment flexibility: Flexibility in repayment options can be important for businesses with irregular cash flow. Choose a lender that offers flexible repayment options, such as the ability to make early repayments or to skip a payment if necessary.
- Loan amount: The maximum loan amount each lender offers can vary, so it’s important to consider whether the lender can meet your business’s financing needs. Make sure the lender offers enough funding to cover your business’s short term expenses.
- Lender reputation: A lender’s reputation and customer reviews can give you an idea of their track record of reliability and customer satisfaction. Research the lender’s reputation before applying for a loan to ensure that they have a positive reputation and are trustworthy.
By taking these factors into account when choosing a short term business lender, you can make an informed decision that best meets the financing needs of your business.
Conclusion
In conclusion, short term business loans are a great option for small businesses in need of quick financing. With so many options available, it’s important to compare interest rates, fees, and repayment terms to find the loan that best suits your needs. By choosing a reputable lender with flexible terms and quick approval times, you can get the financing you need to keep your business thriving.