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Coronavirus SME Guarantee Scheme
Funding options up to $250,000
No repayments for the first 6 months
No asset security required
To Apply, All You Need Is
An ABN or ACN
24 Months Trading
Paid Credit Defaults OK
Helping Businesses during COVID-19
Speedy Finance has been approved as a participating lender in the SME Guarantee Scheme providing eligible Australian businesses up to $250,000 to assist in current and upcoming cash flow needs such as working capital and operating expenditure.
Terms for this product
Available to SMEs, including sole traders, with a turnover of up to $50 million.
Maximum total size of loans of $250,000 per borrower.
Loans will be up to three years, with an initial six month repayment holiday.
Unsecured finance, meaning that borrowers will not have to provide an asset as security for the loan.
Applications available until 30 September 2020 (loan must be approved by 30 September 2020)
Speedy Specific Terms
All industries considered**
Minimum 2 year ABN**
Loan amount from $20k
Loan term 18–36 months
Interest rate From 18%p.a.^
All applications subject to Speedy underwriting guidelines
Why Choose Speedy For Small Business Loans?
Forget the banks! Banks reject most applications. As a non-bank lender we understand the needs of small business and can offer competitive rates.
We Support Your BusinessWe're here to help you grow your business.
Transparent PricingNo hidden fees and charges. No early payout fees.
Award Winning ServiceDo great business with MFAA State & National Finalists.
Fast online ApplicationWe've made it simple to apply for business finance.
How Does it Work?
Business Loan Features
No exit fees
No early payout fees
Here's what you need to qualify
An ABN or ACN
Minimum 24 months trading
Paid credit defaults are OK
*Interest applied on drawn down amount. **Conditions Apply.
^During the first 6 months interest will accrue with no repayments required. After the initial 6 month period, regular repayments will be required and these repayments will include all principal and interest payments plus fees for the entire term.
COVID-19 SME Loan Approval Process
Fast, simple process with quick decisions — we know that time is money