COVID SME Guarantee Scheme

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

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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

FAQs

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 Business
We're here to help you grow your business.
Transparent Pricing
No hidden fees and charges. No early payout fees.
Award Winning Service
Do great business with MFAA State & National Finalists.
Fast online Application
We've made it simple to apply for business finance.

How Does it Work?

Business Loan Features

Flexible Rates

Easy refinance

No exit fees

No early payout fees

Fast approval

Line-of-credit facility*

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

1. Apply Online
The application process takes 5 minutes. No paperwork required.
2. We'll Assess Your Application
Our loan asessors will process your application and communicate with you through every step.
3. Sign Your Loan Contract
If approved you can sign online and receive your operating funds within 24 hours of settlement.

Customer Reviews

What our valued clients say

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We’re here to help your business.

Our application process does not cost anything and its obligation free.

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