How to apply for a business loan from Spotcap

It takes around five minutes to complete our online application. Once submitted, your data is processed through our proprietary credit assessment technology and reviewed by expert underwriters. The financial information you supply allows us to analyse the financial condition of your business and make a decision within 24 hours.

Step 1: We need some basic facts about your business

To start the loan application process, we need to know:

Who is responsible for your business?
Some key business details.
How you plan to use your loan.

Step 2: Connect your accounting software or upload financial documents

To save you time, we ask for financial documents and information that is already available in your business. The easiest way to give us what we need is to give permission for online, read-only access to your accounting software.

If this isn’t possible, you can upload the financial documents below:

Tax returns for individuals for the last two years - this is only required if you are a sole trader or a partnership and your accountant or tax agent hasn’t provided you with a balance sheet and a profit & loss statement.

Financial statements (balance sheet and profit & loss statement) for the last two years.

Trust deed - if your business is a trust.

All these documents must be up to date and in CSV or XLS format.

GST returns for the last 15 months.

Step 3: Connect your business bank account

We need to confirm your bank account details and see your bank statements. The best way to do this is by giving us one-time, read-only access to your online business bank account.

This access allows us to make a prompt assessment of your financial situation, helping us to give an approval decision within 24 hours of you submitting your application.

We take the privacy and security of your data very seriously. All the information you send us is encrypted using one of the strongest security systems commercially available.

How soon will I hear whether my loan is approved?

Expect a decision within 24 hours of submitting your loan application. This is the time we need to analyse your data. It’s put through our unique credit assessment algorithm and reviewed by our expert finance team. If your application is approved, funds will be available within 24 hours.

If you need help with our application process, please get in touch