Banjo Loans: term loans, bridging and asset finance for established SMEs

Banjo Loans sits at the more grown-up end of online business lending. Where many fintechs chase brand-new sole traders with small, short loans, Banjo’s own criteria point at businesses that have been around for at least two years and turn over half a million dollars or more. In exchange, it offers bigger limits, longer terms and a wider menu than most of its online peers, including a short bridging loan and two asset finance products.

The details below come from Banjo’s own website as at October 2026. Banjo notes that its criteria, fees and terms can change, so confirm anything that matters with the lender before you apply.

Banjo’s product range at a glance

Banjo groups its products into “Excel” (fuller assessment, higher limits) and “Express” (faster, lighter paperwork) versions, plus two specialist loans.

Product	Published amount	Term	Best suited to
Business Loan Excel	$20k to $2m	6 to 60 months	Larger working capital needs, stock, growth projects
Business Loan Express	$20k to $750k	6 to 60 months	Faster funding with read-only bank data instead of a document pile
Business Loan Flexi	$20k to $2m	12 or 16 months	Projects that need breathing room: up to four months of interest-only payments first
Business Loan Bridge	$20k to $2m	2 to 6 months	Covering the gap before a known inflow, such as a property settlement or refinance
Asset Finance Excel	$20k to $2m (its FAQ says up to $1m)	12 to 60 months	Vehicles and equipment, up to 100% of the purchase price
Asset Finance Express	$20k to $750k	12 to 60 months	Quick, low-paperwork asset purchases; no deposit under $250k

Repayments on the business loans can be set weekly, fortnightly or monthly. The Bridge loan works differently: you pay interest along the way and the principal falls due at the end, so it only makes sense if the money you’re waiting on is genuinely locked in. Our page on bridging finance explains how to judge that exit.

Who Banjo is built for

Read across the product pages and a consistent profile emerges:

• Two or more years in business under an active ABN or ACN.
• $500,000 or more in annual sales. That works out to roughly $42k a month, a much higher bar than the $6k to $10k monthly floors some online lenders publish.
• An Australian registered business whose owner or director is a citizen or permanent resident.
• Not property development or a regulated utility, which Banjo says it typically doesn’t fund.

The exception is Asset Finance Express, which asks for one year of trading, GST registration, 12 months of bank statements, the supplier’s invoice and proof of ABN and GST. It funds income-generating, serial-numbered assets: utes, vans, trucks, trailers, forklifts, and construction, earthmoving, landscaping, quarrying, manufacturing and medical equipment. Banjo also caps how old the asset can be when the loan finishes (generally 20 years for wheeled assets, 15 for motor vehicles, 10 for non-wheeled equipment and 5 for medical equipment), which matters if you’re buying second-hand.

If your business is younger or smaller than this, Banjo probably isn’t your first stop. Our guide to business loans for low-turnover businesses covers lenders with lower thresholds.

The fine print on “unsecured”

This is the detail most worth slowing down for. Banjo’s headline material describes its loans as unsecured, and its general disclaimer states that Banjo doesn’t usually secure loans against particular assets. Yet every product page we checked also says that “some security will be required” for that product, that director guarantees may apply, and that a general security deed or other security may be needed for larger loans.

In practice that usually means no mortgage over your house, but potentially a charge over business assets registered on the PPSR and a personal promise from each director. Our glossary entries on the general security agreement and the director guarantee explain what each one exposes you to. Ask Banjo to list, in writing, every form of security in your offer.

Not sure whether a two-year, $500k-turnover lender is the right first application for you? Tell us about your business and we’ll point you to the lender types that fit, and your credit file stays untouched while we do.

How the application runs

1. Apply online. Banjo estimates around 10 minutes. Express products ask roughly ten questions plus identity checks and read-only access to your business bank account.
2. Assessment. Banjo says it reviews applications within a couple of business hours. Directors’ credit files are checked with a credit agency and ID checks are run.
3. Offer and signing. Documents are signed electronically. An origination fee applies to each advance.
4. Funding. Banjo quotes as little as 24 hours after approval, with its FAQs giving 24 to 72 hours and calling all timeframes indicative.

Banjo also runs an accredited partner program, so many applications arrive through brokers and accountants rather than direct. Behind the brand, the money is lent by FundIT Ltd in its role as trustee for Banjo’s small business loan fund.

Questions to put to Banjo

• Adding the origination fee, what’s the grand total I’ll have paid by the final instalment?
• Which repayment cycle suits my cash flow best, and how much is each debit on that cycle?
• Exactly what security and guarantees sit behind this offer?
• If I take the Flexi loan, what do repayments jump to once the interest-only months end?
• If I take the Bridge loan and my settlement lands early, what is the early repayment fee?
• For asset finance, will there be a balloon payment? Banjo considers these case by case; our equipment finance calculator shows how a balloon changes the monthly figure.

If Banjo says no

Banjo’s criteria are specific, so a decline often points straight to the reason:

• Under two years trading: equipment finance from lenders that accept newer ABNs, or business loans with an ABN under 12 months if you’re very new.
• Turnover below $500k: online lenders with lower floors, such as Moula or Prospa, may be a better match.
• Credit file problems: see bad credit business loans for lenders who assess case by case.
• You own property and need more, or need it longer: a second mortgage business loan can stretch well past unsecured limits.

For established businesses looking at larger or growth-focused debt, Thincats Australia is a comparable lender, and Dynamoney is a close alternative for vehicle and equipment purchases.

And a word for the banks: if your business is two years old, turning over $500k and holds solid financials, a bank may well offer a cheaper, longer loan. Get that quote. Banjo’s case rests on speed, lighter paperwork and flexibility, not on being the cheapest money available.

Two years in and growing? Find out who’ll back the next step

Banjo answers one specific question well: will an established, solidly trading business get a fast loan without putting up property? If your situation is less tidy, such as a shorter history, a lumpy year, an asset you want to use or a credit blemish, a different lender may be the better first call.

Sorting through those wrinkles is what we do. Our enquiry form needs about a minute, and submitting it has no effect on your credit score. Your enquiry goes to us alone, not out to a crowd of financiers, and a specialist on our team reads it properly before ringing you. Share your genuine sales and trading history, and the lender we suggest first stands a far better chance of saying yes.

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