Banjo offer short term loans to businesses that their unique evaluation process deems to carry an acceptable level of risk.
In order to get credit from this hi-tech lender you simply fill out an online loan application, upload a photo of yourself (as the business owner or director), and then link up your financial data and that’s that!
The founders are former NAB bankers
When it comes to alternative business finance companies it’s no secret that it’s the experience of their founders and managers that either make or break them.
Banjo is certainly a lucky a start-up since its three founders each has a unique set of skills and experience from finance to technology and marketing – they seem to have it covered.
Short term business loans for SME’s
Banjo is a lender that seems to be targeting and focusing primarily on high growth small and medium sized Australian businesses.
It is, according to interviews with their founders, these particular businesses that have the hardest time accessing finance from large banks due to their lack of security and even lack of history.
Banjo is a very simple, effective and high-tech business loan provider that allows small and medium-sized businesses to apply for short-term credit without any paperwork.
Rather than having to fill out forms or type in data into an online application, Banjo makes use of drop-down lists that make applying for a loan using any device a breeze!
Marketplace loans from $20,000 to $400,000
Banjo offers businesses loans that are similar to peer-to-peer loans – except the investors have no say in where their money goes.
They offer loans that range from $20,000 to $400,000 with 6 and 12-month loan terms.
All Banjo loans are unsecured
One of the biggest barriers to finance for small Australian business owners is a lack of security in the form of property to secure the credit.
Even so-called “lines of credit” and overdrafts require security in most cases and the majority of SME’s simply cannot provide this.
At Banjo you can get an unsecured business loan – and that’s probably one the major things that set them apart from their marketplace lending competitors.
Banjo Business loan
- Loan Type Business loans
- Interest Rate from 8.25%
- Loan Amount up to $400,000
- Repayment 30 days to 12 months
Benefits of Banjo
- Unsecured business loans
- Qualify for a loan amount up to $400,000
- Repayment terms are up to 12 months
You can get an unsecured business loans within 24 hours
One of the primary things that differentiate Banjo from other peer-to-peer lenders and, alternative credit providers, is the simplicity of applying for a loan online with them.
Applications can be made at any time of the day or night via their very modern, sleek and intentionally simplistic online loan application form.
No paperwork & sign online
With Banjo you don’t need to provide physical paperwork. Visit their website and apply for a loan entirely online in as little as 10 minutes.
In addition, you don’t have to print and sign any contracts – just sign them electronically in seconds and you’re ready to go!
Does your business qualify for a Banjo Loan?
In order to get your business finance application with Banjo approved you must, at the very least, have been operating for a period of 24 months or more and have an annual turnover exceeding $500,000.
Banjo will also offer you the change of making repayments on your short-term loan weekly, fortnightly or monthly depending on individual preferences.
How long will it take for my business loan application to be approved?
We strive to ensure that our customers get their loan responses on the very same day. This is because we know that a number of clients usually want to make use of the money right away. Running a business needs significant resources and some materials or properties need money to be bought.
Depending on the time of the day you applied for the credit, we will get back to you as soon as possible. If you applied late in the afternoon, we may get back to you on the morning of the following day.
Can I apply for two business loans at the same time?
There is nothing stopping you from applying for a second business loan. It is important that the client understands the consequences of having a late payment. We usually advise our customers to settle their current business loans before applying for the next credit plan.
This way, you will have on credit plan you have to deal with at a time. The last thing we want is to see that our customers are struggling with meeting their financial obligations due to having two loans to pay for.
Banjo is a trusted & reliable provider of business loans
In our review, Banjo adheres to the compliance criteria in accordance with the National Consumer Credit Protection Act 2009, as well as the National Consumer Credit Protection Regulations 2010, where the granting the loan will not cause financial distress to the consumer.
Banjo is a registered credit provider in Australia; ACL 468033
Customer Reviews & Testimonials
Banjo made realize that there are still credit providers that want entrepreneurs to prosper.
— Adelaide —
Within one business day, I knew that my business loan application was approved.
— Brisbane —
The interest rates at Banjo were affordable and worthy of my loan package.
— Hobart —
I was so happy to be assisted by agents who know how to treat their customers.
— Darwin —
With the interest rates that I got for my business loan at Banjo, I was able to still pay for my other loan obligations.
— Australia —
- Level 2, 561 Church Street, Richmond Melbourne VIC 3121 Australia
- Get Directions
- Monday 09:00 – 17:00
- Tuesday 09:00 – 17:00
- Wednesday 09:00 – 17:00
- Thursday 09:00 – 17:00
- Friday 09:00 – 17:00
- Saturday – Closed
- Sunday – Closed