Business Fuel Review

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Natalie

"Fi was a pleasure to deal with. She responded quickly and easily. Highly recommend your service to any business. Thank you"

Our review of Business Fuel


Business Fuel is an Australian small-business lender offering secured and unsecured business loans from $10,000 to $200,000. Approved loan amounts are determined by the average value of the borrowing company's monthly sales. Business Fuel provides 24-hour approval on applications, and terms between 3 and 24 months

Business Fuel has a long history in the Australian lending market. The company has funded over $100,000,000 worth of loans since 2012. Additionally, 50 per cent of the company's revenue is generated by returning customers - illustrating the lender as a reliable source of funding for small-business borrowers.

Suitable if your business: Suitable for businesses considering:
  • Makes a minimum turnover of $10,000 in monthly sales 
  • Is established and has traded at the same location for at least six months 
  • Unsecured Business Loans 
  • Secured Business Loans 
  • Short-term Business Loans
  • Equipment Finance 
  • Cash flow Finance

Business Fuel Loan Information

Loan TypeSecured Business Loan
Loan Amount$10,000 - $200,000
Loan Term3 - 18 months
Approval Time24 hours

Business Fuel Business Loan Overview


Business Fuel loans range from $10,000 to $200,000. Common reasons for seeking this amount of finance can include:


  • Your business has stable cash flow and you want to expand its operations 
  • You want to apply for finance to upgrade or purchase new equipment 
  • You want to invest in vehicles or other assets for your business 
Money Logo Money Tip:

Small business loans provided by Business Fuel cannot be used for personal purposes.


You can apply for a business loan with Business Fuel online:

  • Once approved, funds can be made available in 24 hours
  • Apply with only basic ID and business bank statements 
  • No application fees 
  • No ongoing facility fees 
  • Weekly repayment schedule 
  • Upfront factor rate amount incorporated into weekly payments 

Business Fuel Small Business Loan Review

Loan FeatureLoan Details
Approval Time24 hours
Minimum loan amount$10,000
Maximum loan amount$200,000
Minimum loan term3 months
Maximum loan term18 months
Collateral RequirementsNo collateral required for loans up to $100,000
Interest rateUpfront factor rate calculated on loan amount and included in weekly repayments
RepaymentsWeekly
FeesNo application or maintenance fees

Learn more about how Business Loans work, and how to compare lenders.


How to apply for a Business Fuel Business Loan


You can apply for a Business Fuel business loan online. Applications require minimal paperwork, and loan approval can often be made within 24 hours.

Business Fuel Small Business Loans Approval Criteria

Minimum monthly business turnover$10,000      
Minimum trading periodTrading in the same location for at least six months             

The amount you can borrow with a Business Fuel loan will depend on your company's monthly sales. Loan limits are equal to your monthly turnover in sales:

  • A company averages $50,000 in sales 
  • The limit for a Business Fuel loan will be $50,000

When applying for a business loan with Business Fuel for less than $100,000, you will need:

  • Acceptable Photo ID 
  • Six months of bank statements 

When applying for a business loan with Business Fuel for more than $100,000, you will need to offer security, and provide evidence in your application of the collateral used to secure the loan.


How much does a Business Fuel Business Loan Cost?


Business Fuel makes calculating your total loan amount and repayments a simple process. A one-time, upfront factor fee will be applied to the loan principal and added to your total loan amount. Business Fuel only charges an upfront factor fee to its business loans:

  • No application fees 
  • No establishment fees 
  • No ongoing monthly fees 
  • No charges for early repayments  

A factor rate is represented as a multiple of the loan principal. For example, a factor rate of 1.1 will add 10% of the principal to the total amount. You can see in the table below some examples of how a factor rate may be applied to a principal amount.

Principal AmountFactor RateTotal Amount
$50,0001.3$65,000
$100,0001.3$130,000
$150,0001.3$195,000

The factor rate applied to your business loan principal will be decided by looking at:

  • The amount you wish to borrow 
  • The term of the business loan 
  • The value of the collateral offered - if any - to secure the loan 
  • The type of business you own 
  • The creditworthiness and financial stability of your business 

Need to compare loans using a factor rate and a percentage interest rate? You can learn more about how a factor rate works and learn how to compare business loans by using our free Factor Rate to APR converter.


Business Fuel Business Loan Cost Example:

  • A borrower applies for a business loan of $50,000 over 12 months 
  • Business Fuel applies a factor rate of 1.3 to the principal amount 
  • The total loan amount is calculated at $65,000 
  • Regular repayments are set at $1,250 per week 
  • The borrower repays the loan amount in weekly instalments for the 12-month term 

Want to compare business loan repayments? You can use our free business loan calculator.


Money.com.au Business Fuel Summary


Business Fuel offers same-day access to funds with a maximum amount relative to the borrowing company's monthly sales. A business making $100,000 in monthly sales could gain access to a $100,000 loan. All loans over $100,000 require security

Funds can be used for any business purpose, and around 80 per cent of loans from Business Fuel are unsecured. Having a strong asset base can allow access to larger loan amounts. 

Business Fuel has an established reputation in the Australian lending market, with over $100 million in loans funded to Australian businesses. Borrowers appear to approve of Business Fuel as a lender; half of the revenue generated by the company is through return customers. 

Business Fuel has partnered with CreditorWatch to offer a free Business Credit Score service to potential borrowers, which can produce a detailed credit report without any impact on the borrower's credit score:

  • Secure online application through Business Fuel 
  • Understand your credit score and receive a detailed business credit report 
  • No impact on the applicant's credit file 
  • Review the financial health of your business and understand your ability to secure finance 

Business Fuel was a 2019 Finalist at the Australian FinTech Awards in the 'Excellence in Business Lending' category.