Our biggest business loan. Built for serious investment.
Float Business Accelerate gives you $50,001 to $100,000, repaid over 12 to 48 months. Interest plus one set-up fee, no monthly account fee. Unsecured up to $75,000; loans above that require a security interest over an asset.
WARNING: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
What it costs
- Establishment fee: 1.5% of the amount you borrow ($750 to $1,500), added to your loan
- Monthly account fee: none
- Early repayment: no penalty
WARNING: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or loan amounts might result in a different comparison rate.
Rates shown are indicative and depend on your business profile, trading history, and credit history. Your rate is set when we assess your application. These are business loans, so they sit outside the National Credit Code (the law that sets the rules for personal loans). We show a comparison rate anyway so you can compare the cost.
Worked example
If you borrow $75,000 over 36 months at 16.99% p.a., you pay an establishment fee of $1,125 (1.5% of $75,000). Your repayments would be $626 a week, $1,253 a fortnight, or $2,714 a month. The total you repay is $97,704, made up of the $75,000 you borrowed, $21,579 in interest, and the $1,125 establishment fee. Your actual rate and repayments depend on your business profile.
What sets your rate
We look at your business revenue, how long you have been trading, your expenses, and your credit history. Businesses with stronger cashflow and longer trading history get lower rates.
Who this loan is for
- ✓Growth-stage businesses with at least 12 months of trading and annual revenue above $150,000
- ✓Construction, trades and services businesses investing in equipment or vehicles
- ✓Franchise operators funding a fit-out or working capital
- ✓Established businesses with a specific expansion project
What you need
- An active ABN or ACN registered for at least 12 months
- Minimum annual business revenue of $150,000, checked against your business transaction data and accounting records
- A satisfactory credit history
- A signed business purpose declaration with supporting documents (a quote, invoice, or business plan)
- For companies: an ASIC company extract and identification of anyone who owns 25% or more of the business
- For loans above $75,000: identification of the asset to be used as security
- Identity documents (100 points)
Security
Unsecured up to $75,000 with a personal or director guarantee. Loans from $75,001 to $100,000 also need a registered security interest over equipment or another business asset.
Repayments
Weekly, fortnightly or monthly. Repay early at any time with no penalty.
Credit Passport
Every repayment you make is recorded in your Credit Passport, a record of your repayment history with Float. It is not a credit score, and it does not guarantee approval of any future loan. Every application is assessed on its merits.
Ready to apply?
Check what your business could borrow. No obligation.