Frequently Asked Questions
1. How do I apply?
Applying for a loan with Live capital is simple and only takes a few minutes, without any paperwork or queues. Simply click the ‘Apply’ button and fill out our online form to see if you qualify. We’ll ask you some basic questions such as how much you would like to borrow, your monthly business revenue and how long your business has been operating.
2. Who are your partners?
As of October 2020, Live capital partners with 7 leading Australian lenders; Prospa, Capify, OnDeck, GetCapital, Lumi, Sail and Bizcap.
3. How long does it take to get approved for a loan?
4. How much can I borrow?
The total amount you can borrow depends on the unique circumstances of your business. We look at a variety of factors to determine the health of your business. Loans are then approved up to an amount of $600,000 with a minimum loan amount of $5,000.
5. How do you charge for a loan?
6. What fees do you charge?
The amount due from the first day of your loan term can include an establishment fee. There can be additional fees including early repayment fees and late fees depending on the lending partner. It is a good idea to discuss any applicable fees with the lender before signing your loan agreement.
7. What can I use a Live capital loan for?
- Improving cash flow
- Paying off expenses
- TAX or BAS payments
- Purchasing stock
- Hiring extra staff
- Upgrading equipment
8. Will I be penalised for a late repayment?
Early repayment and discharge fees may apply with some of our lending partners. Each application is assessed on several factors such as your business age, credit score, or loan amount.
Ask for an example of what your loan repayments would look like when speaking to a lending specialist.
9. Will I be penalised for an early repayment?
Early repayment and discharge fees may apply with some of our partners. Each application is assessed on several factors such as your business age, credit score or loan amount. Ask for an example of what your loan repayments would look like when speaking to one of our specialists.
10. How do the repayments work?
11. What is an unsecured loan?
An unsecured loan is when the health of a business is used to determine the creditworthiness, without the business owner needing to secure the loan by putting up an asset as security. Banks do not traditionally offer unsecured business loans due to the arduous paperwork, higher risks, and low returns which don’t make it worthwhile. Many small businesses owners often find they are declined or faced with having to use an asset to secure a loan.
12. What is your borrowing period?
13. What are your interest rates?
14. Do you provide loans for start-ups or to purchase a business?
15. What kind of business loans do you offer?
16. How do I qualify for a loan through Live capital?
To qualify for a loan through Live capital, your business must have a registered ABN, have been operating for a minimum of six months and have a minimum monthly turnover of $10,000. To see if you qualify, click here.
17. Who can apply for a loan through Live capital?
Any registered business in Australia can apply for a loan through Live capital. To qualify, your business must have a registered ABN and have been operating for a minimum of six months. To see if you qualify for a loan through Live capital, click here.