Unsecured business loan
Find out how you could get an unsecured loan for up to $250k to grow your business without using assets to secure the loan.
Simple, quick access business funding when you need it
No loan security
There’s no need to use personal or business assets like property, vehicles or inventory.1
Flexible repayments
You choose the repayment frequency and the loan term from 1 to 5 years.
Repayment certainty
With no monthly fees2 and a fixed rate, you’ll know what you’re paying each month.
Simple process
Access funds for your business needs, with a maximum loan amount of up to $250k.
At a glance
| Amount you could borrow | $5k to $250k |
| Finance term | 1 to 5 years |
| Monthly fee | $0 |
| Establishment fee | $250 |
Other fees and charges like early repayment fees may apply.
What you could use an Unsecured Business Loan for
- Improve business cash flow or working capital
- Inventory purchase, invoice financing or equipment upgrades
- Marketing to grow your business profile
- Hiring more staff or moving to new premises
What you need to apply
To be eligible for unsecured business finance with Westpac, you must:
- be a business entity or an individual 18 years and above, domiciled in Australia; and
- require the funding for business or investment purposes other than investment in residential property; and
- meet the credit criteria and credit policy requirements under an applicable offer for this product.
- have traded for at least 12 months with a valid ABN or ACN
- turnover more than $75k annually and be registered for GST
- be operating as a sole trader, partnership, trust or company (if the company is a sole director company, the sole director must also be the sole company secretary). Guarantees may be required
- have less than $1.5m in business lending with Westpac
- have ATO payments, loan repayments and employee entitlements (including super) up to date
- not foresee a decline in business revenue that would affect the payment of business liabilities
- not be a franchisee, SMSF or charity
- tell Westpac about all your accounts and liabilities, so we have a complete and accurate view of your business's financial position
- in the past 30 days, have not taken up any additional business lending with any financial institution. The loan will be used for business purposes only and will not be used to refinance any other lending
- not use the loan to start a business, fund a property development or to purchase residential property.
Don’t meet the criteria? Compare unsecured business loans against our secured business loan.
Ready to get started?
Submit an enquiry
Leave your details and we’ll be in touch, or give us a call 8:30am-6pm, Mon-Fri (Sydney time).
Frequently asked questions
When you apply for an unsecured business loan, you select the repayment frequency and a loan term of 1-5 yrs.
We won’t ask you to provide specific asset security to secure your loan. For corporate borrowers, director guarantees may be required.
Conditional offers are calculated periodically based on your financial information at a certain point in time. If your financial situation changes, this may affect your borrowing power, meaning that you may no longer have a conditional approval.
If you choose to offer security for your business loan, you will typically pay a lower interest rate than if you choose the unsecured business loan option. Bear in mind that the interest rate is lower because we secure the loan using a pre-agreed asset, which we can recover against if you are unable to repay the loan.
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Things you should know
Credit criteria, fees, charges, terms and conditions apply. Talk to your banker for more details.
1. Guarantees may be required.
2. Other fees may apply.