Unsecured business loans are exactly that. No security is held against the loan, so the risk to the lender can be higher. Interest rates for unsecured loans are determined on your credit score, credit rating and over loan application including business income, expenses, assets and debts.

Whether you’re buying through a private sale, auction, social media or online marketplace, an unsecured business loan does not require security to be held against the truck. This means you can use the funds to purchase without having to worry about inspection reports for the lender. We do however recommend you checking the security of the truck prior to purchase through the PPSR (personal property security register) to verify whether there the truck or trailer is encumbered to another financier, stolen or a repairable write off.

Traditionally truck finance is offered as a Chattel Mortgage or Leasing contract, however Unsecured Business Finance is also available to allow for purchases of trucks and trailers to assist in your business.

Unsecured Finance is based on your business turnover, so when applying for an unsecured loan, remember, the more information you can provide, the better result you can get. Although you can secure an unsecured business loan with very little financial information, providing up to date Tax Returns, BAS and Bank Statements can offer a wider range of lenders to choose from and potentially better results.

No deposit is usually required for unsecured truck finance and as long as you work around your budget, you can borrow for extras if needed such as loan protection cover, truck warranty or insurance.

As long as we have the correct information including income, you could have the funds in your account the same day.