Loans and finance

Business loan for startups

Have you always dreamed of turning your side hustle into a real business? Or branching out on your own? Now’s your chance. This is exclusively for startups; your ABN must be registered for less than 2 years.

What can a business loan for startups be used for?

Buy more equipment
From computers and stationery to larger industry-specific equipment. Get the equipment you need. 
Set up your workspace
Whether you’re setting up a home office or leasing a retail space, we’re here to help get you up and running.
Market your startup
Attract more customers with social media marketing and build a website to grow your sales.
Tech improvements
Get set up with quality software systems so you can save time and run your business efficiently. 

Exclusively for startups: ABN must be registered for less than 2 years

To be eligible for our startup loan your ABN must be registered for less than 2 years.

Requires a BankSA Freedom Business Account

Your startup loan will need to be paid into a BankSA Freedom Business Account. Find out how to get one here

Find out more

Business loan for startups

  • Borrow between $10k and $50k 

  • No asset security needed1 

  • Monthly fee $02

  • Loan terms of up to 5 years

  • Flexible repayment options

  • ABN must be under 2 years old

  • Requires a BankSA Freedom Business Account 

Check you’re eligible

You’ll need 

  • To own a business that has operated for less than 2 years. Your ABN must be registered for less than 2 years
  • To submit a business plan as part of the application

Eligibility

You must:

  • be a business entity or an individual 18 years and above, domiciled in Australia; and
  • require the funding for business or investment purposes other than investment in residential property; and
  • meet the credit criteria and credit policy requirements under an applicable offer for this product.
  • own a business that has operated for less than 2 years.
  • provide a cashflow forecast, either via our template (XLS 87KB) or an accountant certified cashflow copy of your own.
  • submit a business plan with your application.
  • must be an Australian citizen or permanent resident
  • requires a BankSA Freedom Business Account to receive the loan funds

Build your business plan

Write your business plan and remember to include:

  • What your business does 
  • Your target market 
  • Forecasted profit and loss or projected cashflow 
  • Your market competitors
  • Long-term business outlook
  • Demonstrate either industry knowledge or how you have monetised your product sales previously

How to apply

1. Select your loan amount and define its purpose 

Decide how much you need and exactly what you will use the funds for 

 

2. Get started with your business plan and prepare your documents 

Ensure you are eligible. Gather all your relevant documentation and then create your business plan and cashflow forecast. You can use our template (XLS 87KB) for your cashflow forecast, or an accountant certified copy of your own.

 

3. Speak to a banker 

Once you are ready speak to one of our bankers. They will guide you through the application process.

 

Backing more businesses 

It's time to level the playing field. Women now represent 36% of small business owners*. We have made a $1 billion commitment to back women to start-up and scale-up their business.

Frequently asked questions 

To receive the loan funds, you will need a BankSA Freedom Business Account. 

Important information

Terms & Conditions, Fees & Charges and Eligibility Criteria will apply.  

*According to the Organisation for Economic Co-operation and Development (OECD), women represent around 36 per cent of Australian small businesses owners. 

1. Guarantees may be required. 

2. Other fees & charges may apply.