Bigstone Business Loans Review
In this review, we will cover Bigstone’s lending practices, how their corporate structure is set up, and how borrowers can apply.
Bigstone Review in Numbers
|Australian Business Number (ABN):||44 603 289 658|
|Australian Credit License:||603 289 658|
|Loan amount:||from $10,000 to $250,000|
|Loan term:||from 24 months – 36 months|
|Unsecured Loans Offered?||Yes|
|Easy Online Application:||Yes|
|Response Normally Within:||Less than 24 hours|
|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 9 months, has 1+ employees, more than $250,000 in annual revenue, good credit, no bankruptcies|
|Minimal Interest Rates:||8%/month|
|General Feedback from Clients Online:||N/A. We have not seen anything written online about Bigstone Capital.|
|Awards and Recognition:||Wholesale Business of the Year and Retail Business of the Year from Optus MyBusiness Awards 2017, 2017 Communicator Award|
Bigstone offers a wide range of loan amounts to help Australian small businesses achieve their goals. They believe that, if your business has excellent performance and profitability, you should have access to a loan – and fast. However, Bigstone does have several application criteria that borrowers must meet in order to qualify.
Founded by Boyd Pederson, Liam McLagan, and Rob Morgan in 2014, Bigstone is already making waves on the small business lender scene. Bigstone has raised millions of dollars in capital from investors, including diversified investments and venture capital firm, CVC. They are currently working in both Australia and Southeast Asia, but are hoping with the most recent round of investments that they’ll soon be offering small business loans on a global scale.
Bigstone Capital started lending in Australia in 2016, but are already seeing a lot of success – including media coverage. This is, in large part, due to their unique peer-to-peer marketplace model of lending. They match small businesses with financing from wholesale investors – not a bad idea for diversifying risk and still getting funds to small businesses.
Bigstone is truly a fintech lender that’s disrupting the industry as we know it. Their lending process is seamless, and they’re receiving capital investments where other, similar lenders are not. Many investors say they’re drawn to Bigstone because of their strong leadership team, and their commitment to best practices.
Bigstone Client Reviews
Analysis of Client Reviews:
Bigstone has only been available in Australia for about a year, despite having “officially” launched in 2014. This means that they don’t have very many reviews currently available. However, their verified reviewers on their website have left very thorough, open, and honest reviews about their experiences. In general, they’re all incredibly positive. The few complaints we found were about the fact that this is a fairly new lender – therefore their events aren’t full of people, and their seminars often have only a few of their team leaders available.
Bigstone Loan Compatibility
- Startup: No. Bigstone only works with businesses with 9 months of experience.
- Bad credit: No. Bigstone does require reasonable credit and a credit check.
- Sole trader: No, Bigstone requires you have more than one employee.
- Established business: Yes, Bigstone works with established businesses.
- Turnover: Bigstone requires a minimum $250,000/year in sales.
Bigstone Lender Review: Concluding Words
Bigstone seems to us like a really good lender, the minimum requirements is puts, and in particular $250,000 turnover monthly, make it difficult to apply and get accepted. There are other lenders in Australia which could in fact prove easier and more agile. Below are some of our finest selections.