Sail Business Loans Lender Review

This review of Sail Business Loans is a great tool to understand who they are as a loan company for small business – who is at the head of the pyramid of Sail Business Loans, what they can provide you as a lender and how they rise above their competition. Read the following Sail Business Loans review and discover what they look for in a borrower.

Sail Business Loans Review in Numbers

Australian Business Number (ABN): 45 099 575 363
Australian Credit License: 099 575 363
Loan amount: from $5,000 – $100,000
Loan term: from 3 months – 12 months
Unsecured Loans Offered? Yes
Easy Online Application: Yes
Response Normally Within: 24 Hours
Documents Required to Apply: ABN/ACN for your business, a valid driver’s license, your business’s bank information (for gathering financials and making payments), a cloud accounting software (for gathering financials).
Requirements to Apply: Australian registered business, $50,000/year turnover, trading history of 6 months.
Minimal Interest Rates: Operates with a variable interest rate that’s calculated in a “factor rate” form that’s a decimal – not an interest percentage.
General Feedback from Clients Online: Sail started operating in 2016, and as a result their reviews online are limited. However, the reviews that do exist are outstanding and overwhelmingly positive. Borrowers praise Sail for being honest, transparent, and for providing excellent service.
Awards and Recognition: Member of FinTech Australia.
Website Address: https://www.sail.com.au

Short Summary:

Although operating only since 2016, Sail has already got itself a name in the small business loans in Australia market. Simply put, it has one of the lowest minimum requirements in the industry which makes it very apt for bad credit business loans, and glowing reviews online.

 

Company Story

Sail Business Loans Logo
Sail is a business loan lender that focuses on small to medium size business financing solutions. They offer primarily unsecured business loans, pride themselves on their simplified process, and boast no hidden fees. Sail is an incredibly new lender in the industry, having been founded in late 2016. However, they’re already receiving press accolades from the likes of Smart Company, who featured their $8 million company launch in November, 2016 and many other company reviews.

Sail’s founder, Yanir Yakutiel, spent 15 years in the finance industry before choosing to launch Sail at the end of 2016. Before the company’s launch, Yakutiel created a unique algorithm that he says will “change the way” business lending for small businesses is done. Sail also offers additional products in the fintech arena and prides themselves in being a small business built to serve other small businesses.

Company founders believe that business owners should have access to financing opportunities without being weighed down by the methods of traditional banking. They genuinely want to make a difference in the small business lending space, and have designed everything from their simple application to their 24 hours approval response time to reflect those core values. In addition to unsecured business loans, Sail specializes in indigenous and aboriginal business loans, short term business loans, startup business loans, and they have a very convenient business loan repayment calculator available to site-visitors.

 

Sail Client Reviews

 

– TrustPilot Australia: 26 Reviews, 85% Excellent, 15% Great, 9 / 10 Total Score (Excellent)
– Sail Business Loan’s Facebook: 10 Reviews, 10 Positive, 5 / 5 Total Score

 

Analysis of Client Reviews:

 

Sail has only been in business since 2016, therefore there aren’t very many online reviews available to go over while researching the company. That being said, the reviews that exist online are very positive. In fact – they’re some of the most positive review of any lending company that we’ve looked at. Borrowers call Sail “honest” and “fair.” They are widely pleased with the efficiency of the application process, as well as the customized service that they receive from the company. We couldn’t find any negative reviews out there – which speaks volumes as there are usually a wide range of both positive and negative reviews on any given lending company.

 

Sail Loan Compatibility

 

  • Startup: No, Sail requires that you’ve been operating for at least 6 months.
  • Bad credit: Yes, Sail looks at your personal financials but often still approves with bad credit.
  • Sole trader: Yes, Sail works with sole traders.
  • Established business: Yes, Sail works with established businesses.
  • Turnover: Sail requires a turnover of $50,000/year.