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SME lender announces policy changes

by Hannah Dowling7 minute read

Spotcap has announced it has made changes to its term periods for unsecured business loans, now offering loan terms up to 36 months.

The SME lender has stated that it is now offering unsecured business loans of between $10,000 and $500,000 with terms up to 36 months.

The lender is offering business loans with no collateral or caveat requirements, but it does require the use of a personal guarantee.

Small businesses that have been trading for at least 18 months and make $200,000 in annual turnover will have access to Spotcap loans, provided they can provide an ABN and Australian bank account details.

Under the new policy, loan terms vary depending on how long the business has been established. Terms are determined as follows:

  • 1.5 years in business – 18-month loan term
  • 2 years in business  24-month loan term
  • 3 years in business  30-month loan term
  • 4+ years in business  36-month loan term

Spotcap said its business loans can be used for the purposes of boosting working capital, purchasing inventory or equipment, or hiring staff among, other uses.

[Related: SME lending platform appoints new head of broker]

spotcap ta

Hannah Dowling


Hannah Dowling is a journalist for The Adviser and Mortgage Business.

Prior to joining Momentum Media, Hannah worked as a content producer for a podcast catering to property investors. She also spent six years working in the real estate sector at a local agency. 

Email Hannah at: [email protected]


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