Business Fuel Review

This review is intended to guide borrowers as they select their small business loan lender, and are looking for a Business Fuel review. We will go over Business Fuel’s company background, their lending practices, and their application qualifications.

Business Fuel Review in Numbers

Australian Business Number (ABN): 89 070 294 654
Australian Credit License: 135 483 626
Loan amount: from $5,000 to $250,000
Loan term: from 3 months – 12 months
Unsecured Loans Offered? Yes
Easy Online Application: Yes
Response Normally Within: 48 Hours or Under
Documents Required to Apply: Six months of bank statements, a copy of lease, Photo ID, documents related to your loan’s security (if applicable)
Requirements to Apply: Been in business for one year (minimum), 12 months left on your lease, can prove that you have a minimum turnover of $10,000 a month in gross revenue.
Minimal Interest Rates: Not Mentioned
General Feedback from Clients Online: Very little customer feedback online. Most of it is positive.
Awards and Recognition: None found.
Website Address: https://businessfuel.com.au/)

Short Summary:

that small business owners often need funds quickly to keep their business going, and they believe that there’s something inherently wrong with a lending system that puts business owners through a lengthy application process. Business Fuel offers a solution. Their applications are approved in 48 hours or less – giving you access to your funds faster. They provide both secured and unsecured loans, and they offer a wide range in loan amounts for businesses with varying needs.

Business Fuel Alternatives in Australia:

Best Lender As Rated By Users ⭐⭐⭐⭐⭐

Est. 2011  

  • Funding: $5,000 to $250,000.
  • Innovation Awards.
  • 1-2 Day Answer to Application.
  • 9.5 / 10 on TrustPilot.
  • Offers Unsecured Business Loans
  • Apt for Bad Credit Business Finance.
The Industry Veteran ⭐⭐⭐⭐⭐

Est. 2002

  • Funding: $5,000 to $400,000.
  • Least Documents Required.
  • Industry veteran for 13 years.
  • 95% Positive Client Reviews.
  • Offers unsecured business loans.
  • Min. Turnover $10,000 PM.
Coherent and Transparent Repayment Schedule ⭐⭐⭐⭐

Est. 2016

  • Funding of $5,000 to $100,000.
  • Accepts New Business (6M At Least).
  • Clear repayment schedule.
  • Offers unsecured business loans.
  • Accepts Bad Credit Borrowers.

 

Company Story

Business Fuel says, “We’re making money happen.” And they’re doing an amazing job. According to statistics listed on their website – over 40% of their customers return to borrow from them a second or third time. They have been in business in Australia for over 12 years, and pride themselves in having over $50M worth of funded loans.

Business Fuel was founded in 2012 by Kate Ryan, who currently acts as one of their lending managers. Currently, Business Fuel has a team of four experienced Loan Managers who guide borrowers through the application process. They also offer several different loans that help you tailor your lending to your business needs – a Flexible Business Loan, an Equipment and Vehicle Finance, and Cashflow or Invoice Funding loans.

Business Fuel also has a lively social media presence. Their videos on YouTube showcase their team members, and their Facebook page offers more insight and information about their business.

 

Business Fuel Client Reviews

 

-GlassDoor – 100% Negative (employment rather than service review)
-Finder.com – 80% positive, 20% negative

 

Analysis of Client Reviews:

 

Business Fuel doesn’t have many online reviews. However, the few negative points we found from both borrowers and employees didn’t reflect poorly on their lending process at all. The only negative point that was mentioned that could impact a borrower was that their facility fees aren’t fixed.

Business Fuel is said to offer a lot of cash flow flexibility, a wide range of loan amounts, various types of loans, and speedy service. Additionally, sights like ebroker have called them, “innovative,” in their approach. The negative review found on Glassdoor went out of it’s way to explain that the lending process is wonderful – but the workplace politics isn’t so great for employees.

 

Business Fuel Loan Compatibility

 

  • Startup: No. Business Fuel only works with businesses with 12 months experience.
  • Bad credit: No. Business Fuel does require reasonable credit and a credit check.
  • Sole trader: Yes, Business Fuel accepts sole traders.
  • Established business: Yes, Business Fuel works with established businesses.