Westpac business loans for startups and scaleups
As many business owners know, getting a loan if your business is less than 2 years old can be hard. Fortunately, Westpac have seen this issue and now have a range of business loans for startups and scaleups.
And on top of this, Westpac has announced a further $500m of funding in March 2025 under the below programs to specifically support female entrepreneurs.
Business Loan for Startups
The startup loans are for business who have been operating for less than 2 years.
You can borrow between $10,000 and $50,000 for business or investment purposes other than investment in residential property. Loan terms of up to 5 years with flexible repayment options. This loan can be unsecured but you may need to provide a director’s personal guarantee.
Key requirement is that you submit a business plan with your application. The business plan will need to address: what your business does; your target market; forecasted profit and loss or projected cashflow; your market competitors; long-term business outlook; any relevant industry experience and skills.
Obviously being a bank there will be some credit criteria and credit policy requirements. So, the better your personal credit score the better your application will be considered.
To learn more about the Westpac Business loan for Startups click here
Unsecured Business Loan for Scaleups
The unsecured business loans are for business who have been operating at least 12 months.
You can borrow between $10,000 and $250,000 (maybe able to go up to $500,000) for business or investment purposes other than investment in residential property. Loan terms of up to 5 years with flexible repayment options. You may need to provide a director’s personal guarantee.
Obviously being a bank there will be some credit criteria and credit policy requirements. So, the better your personal credit score the better your application will be considered.
To learn more about the Westpac Unsecured Business Loan for Scaleups click here
Wayne Wanders is an experienced Business Advisor and Outsourced CFO who can help to scale and grow your business profitably. Wayne may also be able to assist you in preparing your business plan.
Contact Wayne on wayne@arealcfo.com.au or 0412 227 052.
Click on the below buttons to access free Resources developed by Wayne Wanders, A Real CFO to help your business scale and grow profitably
Want a confidential discussion on your business situation, help with your grant application or to learn more about my Outsourced CFO Services, simply email me at wayne@aRealCFO.com.au or call me on 0412 227 052
