poppyWhat is a small business loan from Poppy?
A Poppy loan is a short-term business loan. We pay a lump sum into your business account and you repay it in equal weekly amounts over a set term, from 3 to 24 months. Before you sign, you see the loan amount, the term, the weekly repayment and the total you’ll repay, including every fee.
Our loans are generally unsecured, which means you don’t need to offer your home or other property as security. We usually ask the business’s directors for a personal guarantee instead.
What businesses use them for
- Stock and inventory: buy ahead of a busy season or take up a supplier discount. See working capital loans.
- Equipment: replace a machine, buy tools or upgrade technology. See equipment loans.
- Cash flow gaps: cover wages and bills while you wait for customers to pay.
- Growth: fit out a new room, take on a bigger contract or fund a marketing push.
- Tax bills: pay a BAS or other ATO debt on time. See loans for ATO tax debt.
Types of business loans we offer
Every Poppy loan works the same way, but businesses search for them in different ways. These pages explain how a Poppy loan fits each need:
- Unsecured business loans: borrow without putting up property
- Short-term business loans: 3 to 24 months, repaid weekly
- Fast business loans: an assessment based on bank data, not paperwork
- Low doc business loans: usually no tax returns or financial statements
- Bad credit business loans: how we look at past credit issues
- Sole trader loans: for businesses run under your own ABN
Who can apply
- A registered business in Australia (with an ABN) or New Zealand (with an NZBN)
- Trading for 6 months or more
- Around $10,000 or more in monthly sales
- A business bank account with regular deposits we can see
- The loan is for a business purpose, not personal or household spending
For the full checklist, see business loan requirements.
What a small business loan costs
The cost depends on your business, the loan amount and the term. Instead of making you work out an interest rate, we show you one number: the total to repay. For example, a $60,000 loan over 12 months with a total of $75,000 to repay would have a weekly repayment of about $1,442.
That example is illustrative only. Use our business loan calculator for an estimate, and your offer will show your actual figures before you sign.
How to apply
- Check eligibility. Tell us about your business in a 3-minute form. No documents and no credit check at this stage.
- Connect your bank. Share read-only business bank data through a secure link, so we can see how you actually trade.
- Review your offer. You get one summary: the loan amount, the term, your weekly repayment and the total to repay, including all fees.
- Get the funds. Sign online and the money is paid to your business account.
When a Poppy loan isn’t the right fit
A short-term loan costs more than a bank loan secured against property. If your bank will lend to you on reasonable terms and you can wait for an answer, compare that first. A fixed weekly repayment also doesn’t suit a business whose sales are very irregular, and we don’t lend to pay off other short-term funding you’re struggling to repay.