Term loan

Funds for your business needs

Support your business with an easy-to-access finance solution.

Term Loan benefits

Product information

With Shift’s Term Loan, businesses can borrow from $25,000 to $1 million. Funds can be used for any business purpose including capital projects, expanding premises, building a second store or acquiring a larger warehouse.

Term
Up to 5 years
Repayments
Weekly or monthy
Account limit
Up to $1 million
Annual rate
14.95% - 23.95%
Fees
3% Establishment fee
No early repayment fees

How it works

  • Register online to open an account

  • Link your business bank account

  • Once approved, funds are transferred directly to your business bank account

FAQs

Is my business eligible for a Term Loan?

We can assess any business with an Australian ABN that has been trading for two years or more with a minimum annual turnover of $250,000.

What documents are needed to process a business loan application?

Registration is simple and can be completed online. We require a completed Application Form and 6 months of bank statements to process Term Loan applications under $500,000. For Term Loans of $500,000 or more, we also require financial statements and a snapshot of the ATO portal.

How long does it take to process funds?

Once you sign the Loan Agreement, the funds are transferred that day and should be in your business bank account the next business day.

Get in touch

Contact us