Business Loans Centre Australia Review and Analysis
This is a review of Business Loans Centre Australia (official business name Mitry Enterprises Pty Ltd, trading as Business Loans Centre Australia). In this Business Loans Centre review we look into the flexible lending solutions available through the company and how the firm fits into the overall Aussie lending market. As one of Australia’s leading business loan match centres, we determine if it’s worth applying through the Business Loans Centre and the minimum borrower requirements in order to qualify for a loan matched through the Business Loans Centre platform.
|📝 ABN:||33 603 519 142|
|📝 Credit License:||603 519 142|
|💰 Loan Amount||$5,000 – $500,000|
|⏲️ Loan Term||Unsecured Loans: 3 – 24 MonthsSecured Loans: 3 – 36 Months|
|💸 Unsecured Loans?||Yes, up to $100,000.|
|⌚ Lender Requirements||Able to demonstrate a minimum of 6 months trading and at least $5,000 revenue per month. 3 months trading if you’ve purchased an existing business.|
|⏱️ Response Time:||Pre-approval within two hours. Full approval normally within the same day – Money in the bank in 24h.|
|🌝 Easy to Apply:||Yes|
|💌 Online Reviews:||9 Google reviews with an average rating of 4.8 / 5|
|🏆 Awards and Recognition:||None|
|💳 Minimal Interest Rates:||Unknown|
|Compare Business Loans Centre||Compare Business Loans Centre with 30+ Australian Lenders on Lend.com|
|Review Table of Contents|
Business Loans Centre Alternatives in Australia – Our #1 Rated Lender Marketplace:
Is Business Loans Centre a Lender?
No, Business Loans Centre is not a direct lender to Australian SMEs. To take a quote directly from businessloanscentre.com.au, “We are a team of business finance specialists with access to really cool technology based here in Australia saving you valuable time, money & headache of having to shop around looking for the right business loan facility.”
An application with the Business Loans Centre means the team will work on your behalf to find the most appropriate lender for your needs. For example, if you’re a business with a monthly turnover of $7,000 seeking an unsecured loan you may be matched with a different lender to a business with a monthly turnover of $50,000 who’s seeking a secured loan. The industry you operate in, the type of repayment schedule you’re looking for and many other factors can impact who Business Loans Centre matches you with.
How Does The Business Loans Centre Work?
Business Loans Centre Australia dedicates itself to increasing the opportunities for business owners around Australia by delivering fast unsecured business loan approvals, whether this is to invest in the growth of your business or cover dips in short term business cash flow. The process is really simple:
- One application – simply complete one easy online form and get access to multiple business loan lenders and rates.
- Saving You Time – information provided is quickly analyzed to work out how much you can borrow and on what terms.
- Best Lender Match – your application is matched to the most suited secured or unsecured finance lender for your business requirements.
As the Business Loans Centre works with a range of lending partners, there are multiple financing methods that you can apply for. These include:
- Unsecured Business Loans
- Secured Business Loans
- Invoice Finance
- Finance Line of Credit
- Asset Finance
- Private Money Loans
- Fast Caveat Loans
In addition to some of the most common business lending solutions, the Business Loans centre offers private money loans and fast caveat loans. Lending solutions that can provide near immediate, short-term access to capital if you have an asset (most typically your home) that you can use as collateral in the lending process.
Which Lenders Do Business Loans Centre Work With?
Surprisingly, the Business Loans Centre makes no reference to the Australian business lenders that it partners with. We find this a little unnerving – by being able to demonstrate that you work with some of Australia’s best business lenders we think it’s a way to boost your own credibility too.
This is certainly what Lend.com.au, Become Business Loans and Valiant Finance do. As the most respected and active business loan matchmakers in Australia, all of these firms make it clear that they can match you with some of the biggest names in the Aussie lending scene, including Prospa and Capify. That’s not to say they don’t work with some of the lesser known business lenders too (these may well be the best fit for your lending requirements) but it certainly demonstrates their credibility and shows potential borrowers they have some of the most effective online business lenders on board.
As the Business Loans Centre can match both private and business borrowers with multiple borrowing solutions we can only assume they hold relationships with a wide variety of Australian lenders.
Is the Business Loans Centre Safe and Reliable?
As we’ve previously stated, we don’t like the fact that the Business Loans Centre makes no mention as to the lending partners it works with – by knowing that Business Loans Centre partnered with some of the most trusted business lenders in Australia, we could assume the Business Loans Centre is a trusted service too.
The general feel of the Business Loans Centre website is a bit amateurish and we’ve spotted some inconsistencies for what it says is possible from one page to the next (such as unsecured business loans being available up to $75,000 on one page and up to $100,000 on another). The general tone of the site comes across as a little pushy too.
That being said, Mitry Enterprises Pty Ltd (the actual business name of the Business Loans Centre) has been operating since 2004. Since this time it has been operating the brand ‘Aussie Mortgage Centre’ and launched the business loan centre in 2015.
Taking into account all of these factors, we would personally be much more inclined to try using a business loan marketplace such as Lend.com.au first – remember these companies are all matchmakers though so ensuring the credibility of the actual lender you are matched with will be most important of all.
Business Loans Centre – Eligibility
Business Loans Centre has, by industry standards, a relatively modest set of requirements from borrowers:
- Australian Registered Business (ABN Holder)
- Trading a minimum of 6 months / 3 months ownership if you’ve bought an existing business.
- Turnover of $5,000/month
The Business Loans Centre is specifically aware that a number of borrowers are looking for unsecured financing, with the comfort in not having to offer security for your business finance borrowings.
Business Loans Centre Client Reviews
There are just six Business Loans Centre reviews that can be found online. All of the reviews were left either two or three years ago which would suggest the firm has been less active in recent years. Four of these reviews give the service 5 / 5 and two have scored the service 4 / 5. There are no negative comments left in any of the reviews and one of the reviews highlights:
“I can’t complain about the service we received through Business Loans Centre Australia for our business loan enquiry, everyone we dealt with was professional and helpful. Communication was clear and speedy. You guys have been great, thank you and will definitely recommend to other business owners in my industry.”
From the feedback left, it’s quite clear that customers have had a positive experience with the Business Loans Centre. However, six reviews is obviously a very limited number of reviews to get a real feel for the company and being google reviews we can’t say for sure if they are legitimate. Unlike dedicated review platforms there is less verification on the person granting the feedback – we simply don’t know if they were a legitimate customer.
Business Loan Centre Australia Summary:
The team behind the Business Loans Centre has been operating in the Australian lending industry since 2004 with the firm originally specialising in mortgages. The Business Loans Centre has been running since 2015 and appears to have a handful of happy customers. Reviews, however, are very sparse for a firm that has been operating for this long and the general feel we get from the website doesn’t give us enough reasons to choose the Business Loans Centre over the a number of respected business loan marketplaces that operate in Australia today.
The firm has experience in working with bad credit borrowers so if your credit is impaired and you feel like you’ve exhausted your current options, the Business Loans Centre could be one to consider.