Moula Review

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

Our review of Moula

Moula offers unsecured business loans to small to medium-sized businesses. Loan amounts range from $5,000 to $500,000 on a term between 6 and 36 months. Applications can be made online and are often approved within 24 hours.

Suitable if your business: Suitable for businesses considering:
  • Has an active ABN or ACN 
  • Is established with six months of trading history
  • Has $5,000 of monthly sales 
  • Unsecured business loans
  • Small business loans
  • Short-term business loans
  • Business Line of Credit

Moula Overview

Moula provides loans to small and medium-sized businesses that range from $5,000 to $500,000. These loans are unsecured and can be used for any legitimate business purpose, such as:

  • Purchasing new equipment 
  • Launching a marketing campaign 
  • Paying employees 
  • Expanding business premises 

Moula Loan Information

Loan TypeUnsecured Business Loan
Loan Amount$5,000 - $500,000
Loan Term6 - 36 months
Approval Time24 hours
Money Logo Money Tip:

Business loans from Moula cannot be used for personal purposes.

You can apply for a business loan with Moula online:

  • The application takes under 10 minutes 
  • Moula will review your application and let you know if the loan has been approved within 24 hours 

Moula is transparent about the rates, fees, and penalties attached to its business loans:

  • Interest rates are fixed and start from 0.61% per fortnight 
  • Rates will vary based on your application 

  • 2% loan establishment fee for new clients 
  • 1% fee for additional loans

  • There are no fees for early repayment 
  • Repayments are made fortnightly
  • $30 direct debit dishonour fee 
  • $40 payment reschedule fee

Moula Business Loan Review

Loan FeatureLoan Details
Approval Time24 hours
Minimum Loan Amount$5,000
Maximum Loan Amount$500,000
Minimum Loan Term6 months
Maximum Loan Term36 months
Collateral RequirementsNone
Fees2% Loan establishment fee
1% fee for additional loans
$30 direct debit dishonour fee
$40 payment reschedule fee

Learn more about Unsecured Business Loans.

How to apply for a Moula Unsecured Business Loan

You can apply for a Moula business loan online and the application takes 10 minutes. Loan approvals can be granted within 24 hours. To apply for an unsecured business loan from Moula, you will need to:

  • Give permission for Moula to access your banking or accounting data 
  • Supply your ABN or ACN 
  • Provide personal, business, and credit information 

Moula Approval Criteria

Minimum Monthly Gross Turnover$5,000
Minimum Trading History6 months

How much does a Moula loan cost?

There is a 2% establishment fee for new loans through Moula and a 1% fee for subsequent loans. There are no penalties for early repayment, however missed and rescheduled payments will incur fees. The cost of a Moula Unsecured Business Loan will include:

  • The principal amount 
  • Interest applied to the principal 
  • Establishment fee or re-establishment fee

Moula Unsecured Business Loan Cost Example:

  • The customer takes out a $100,000 loan 
  • The customer chooses to repay the loan over a 12-month term 
  • An origination fee of 2% ($2,000) is added to the total loan amount 
  • The total amount to repay is $102,000 plus interest over 12 months 
  • The business agrees to monthly payments of $9402 
  • The total amount paid over the term is $112,825 Interest paid over the term is $8,785

Moula Pay

In addition to offering unsecured loans, Moula also offers a form of after-pay merchant finance called Moula Pay. With the aim of improving business cash flow, Moula Pay grants businesses a line of credit up to $250,000. This line of credit can be spent at any merchant that accepts transactions made with Moula Pay.

How does Moula Pay work?

Each time a business makes a transaction with a merchant through Moula Pay, a notification is sent to verify the payment. Once payment is confirmed, Moula will then pay the merchant, and businesses choose how to repay the owing balance over 12 months.

Who benefits from using Moula Pay?

Moula Pay helps businesses manage their cash flow:

  • Merchants benefit from immediate payment through Moula from customers using Moula Pay 
  • Businesses using Moula Pay have up to 12 months to repay their line of credit, with the first three months both interest and repayment free 

Moula Pay details

  • Repayments are made in monthly instalments 
  • Businesses can apply for a Moula Pay credit of up to $250,000
  • There are no fees charged in the first 12 months 
  • An annual fee of $149 will be applied to keep the account open beyond 12 months 
  • Once the three-month interest-free period expires, an interest rate of 3% per month will be charged against the outstanding principal balance 
  • There are no fees or penalties applied for repaying early

How to sign up

Businesses can apply for Moula Pay online and will receive confirmation of the application within 24 hours. Moula Summary

Moula offers unsecured business loans and a hybrid product called Moula Pay. The company offers fast access to funds with a 24-hour turnaround time, and a simple online application through the company’s website requiring minimal paperwork. 

There is no collateral required for either form of business finance, which further simplifies the process of acquiring funds. 

Moula has experienced strong growth since the company’s launch. The company has processed over 20,000 business loan applications, and its average loan amount more than doubled from August 2014 to August 2018. 

Moula was also recognised as the best non-bank lender in the cash flow and debtor finance category in a survey conducted by Momentum Intelligence in 2017. 

Moula’s growth has attracted $20 million in private funding to continue fuelling business expansion, in a series round led by Escala Partners in conjunction with existing shareholders Liberty Financial and Acorn Capital. 

The company made a number of changes to its lending platform announced in March 2019: 

  • Offered pricing starting at 15.95% APR 
  • Extended its loan terms from 24 months to 36 months 
  • Increased the maximum lending amount from $250,000 to $500,000 
  • Stated that it would lend an additional $250 million to small businesses 

The feedback for Moula on the review website Trustpilot are overwhelmingly positive. From 1,498 reviews, 94 per cent rated the company as excellent. 

Customers praised Moula for the following reasons: 

  • Quick and easy application process 
  • Professional support 
  • Good system for processing applications 
  • Very helpful staff 

Moula was established on August 1st, 2013 and has numerous strategic partnerships. Moula is partnered with the retailer Officeworks, Australia’s largest non-bank lender Liberty, and is the preferred financial services partner of Xero.