Speedy Finance Review

This Speedy Finance review will look at the history of Speedy Finance as a company so we can begin to understand if Speedy Finance is a credible loan provider. We’ll look at where Speedy Finance is located, the types of clients they work with and what these clients have to say about their experience with Speedy Finance. We’ll also see what the main features of Speedy Finance are and what awards they’ve won as a company. Read this Speedy Finance review to see if they’re the right loan provider for you.

# Operating Successfully for 15 Years

Est. 2004

Editorial Rating


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Loans size & Terms

$5,000 to $300,000

Secured and Unsecured Loans

Speedy Finance Review

Speedy Finance Review – Basic Figures for 2020

🌐 Website:www.speedyfinance.com.au
®️ Logo:
📝 ABN: 51 107 822 766
📝 Credit License:37 90 39
💰 Loan Amount$5,000 – $300,000
⏲️ Loan Term
  • Secured loans – 3 to 12 months
  • Unsecured loans – 3 to 12 months
  • Equipment Finance – 3 to 18 months
  • Bridging Loan – 3 to 6 months
  • Second Mortgage Loans – Up to 36 months
💸 Unsecured Loans?Unsecured Loans are Available
⌚ Lender Requirements
  • Trading for at least 6 months
  • Turnover greater than $10,000 per month
  • Paid Credit Defaults OK.
📃 Required:180 Days of Bank Statements
⏱️ Response Time:Approval normally within one hour. Money in the bank in 24h.
🌝 Easy to Apply:Yes, fully online (expedited application here)

The Nitty-gritty

💌 Online Reviews:4.6 / 5 Trust Score on TrustPilot (90% Excellent, 6% Great)

i.e. 100% approval rate on TrustPilot over 100 reviews.

🏆 Awards and Recognition:
  • MFAA 2019 FinTech Lender Award – State Finalist
  • MFAA 2019 FinTech Lender Award – National Finalist
💳 Minimal Interest Rates:From 1.5% per month.
⚖️ ComparisonCompare SpeedyFinance with 20+ Australian Lenders on Lend.com

Speedy Finance Reviews and Ratings

⭐ RatingScoreboard:

⭐⭐⭐⭐⭐ Credibility

⭐⭐⭐⭐ Client Reviews

⭐⭐⭐⭐ Website

⭐⭐⭐⭐ Flexibility

⭐⭐⭐⭐ Interest Rate

90.0% Editorial Rating

# Overall Rating for Speedy Finance
Editorial Rating


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One of the cleanest and most easy to understand loan terms sheet, by one of the first online lenders in Australia. Speedy Finance has been in operation for 15 and has maintained a pristine reputation for a good reason - it's genuinely good at what it does, providing fast application responses which are more often than not, positive.

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Full Review: Table of Contents

Table of Contents

Types of Loans by Speedy Finance

Speedy Finance have a much wider variety of products than even those companies regarded as the best in the online lending industry such as Prospa.

As well as unsecured and secured business loans the company also offers:

Equipment Finance

Customers can access equipment finance to invest in a whole variety of different things including; new vehicles, acquiring new plants and machinery, updating existing technology and even new software, computers and servers for your business. Equipment Finance loans range from $5,000 – $250,000 and can be accessed in as little as 24 hours all through electronic documentation.

Bridging Loans

More common for businesses in Property Development and Project Managers, a bridging loan from Speedy Finance can be as much as $300,000. Suitable for those with a short term requirement for cash flow, knowing they have a profitable payout in 3 to 6 months time.

Second Mortgage Loans

This is a solution provided by Speedy Finance targeted at business customers looking for larger loan amounts with a longer and lower repayment schedule. It’s also a product commonly used to purchase or open a business – the caveat of course that your are leveraging one of your existing assets in order to provide security for the loan. You therefore should be confident you can repay your loan obligations.

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Company Story & Credibility

Speedy Finance (website address speedyfinance.com.au) is considered by many to be one of the best Australian business lenders.

Speedy Finance is one of the longest serving online lenders in Australia, having been founded in 2004. It provides business loans for both individuals and businesses alike. For this reason it can often be referred to as a ‘Payday lender’ but in this review we focus purely on Speedy Finance as Business Loan providers.

Whilst you’ll find most of the new online FinTech lenders operating out of either Sydney or Melbourne, Speedy Finance is based in Bundall in the Gold Coast, Queensland. We get the impression Speedy Finance operate with a lot of local Queensland based businesses too, who have trusted Speedy Finance as their loan partner for a number of years. 

The current General Manager is Michael Blonk, having previously had experience as Director of Credit Risk in the Austrailian Telecommunications giant Optus.

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Speedy Finance Client Reviews on Google

– TrustPilot Australia: 107 Reviews – 90% Excellent, 5% Great, 1% Poor, 4% Bad – TrustScore 4.6 / 5 

– Google Reviews: 8 Reviews, 6 Positive, 0 Neutral, 2 Negative – Average Score 3.9 / 5 (Good)

The Feedback:

As Speedy Finance operates as both a private and business lender it comes as no surprise that the majority of the reviews are from the more commonly used private loan service. It is difficult to pinpoint any business specific reviews but to get a general feel for the company as a whole, some of the positive Speedy Finance reviews state:

“So helpful, nothing is a bother for any of the staff members, kind, friendly I would highly recommend them for any small business looking to move forward. I have been dealing with Speedy Finance for over 5 years. Thank you”.

“The system that Speedy uses today is so quick and efficient, compared to the antiquated system that was in use when I first chose Speedy Finance in August 2012. Since that time, I have been very happy and satisfied client”.


Some of the negative reviews are quite scathing, one review believes Speedy Finance charge a number of hidden fees in addition to their interest rates with their private loans and another client complains of very high interest rates but no hidden fees. Speedy Finance are certainly very keen however to highlight transparent pricing for their business loans and they have a number of dedicated staff who are happy to detail the costs you will encounter when agreeing to the loan. There are no early repayment or exit fees.

Analysis of Client Reviews:

There are 107 reviews online for Speedy Finance through TrustPilot but all of these have come since July 2019 so it suggests they have only recently started using TrustPilot as a review platform. It is worth noting that most customers rank Speedy Finance either excellent or above average with only a handful of unsatisfied customers. When considering most customers who are unhappy will write reviews we think this is a pretty good reflection on the company. It is less likely that a satisfied customer will leave a review versus an unhappy customer.

The fact one review mentions hidden fees perhaps raises questions on their business practices but the general feel of the 95% positive reviews and from the key messages Speedy Finance lead with on their website attests to a fair and reasonable lender. As a payday lender in the private space it is possible interest rates for these highly short term personal loans are higher too but we can’t see any reviews specifically detailing the high cost of a business loan. In their FAQ section Speedy Finance has this to say about fees:

“Each loan type has different fees and charges depending on the loan requirements. These fees can be financed into your loan amount and paid off over the loan duration. For more information please speak with your loan consultant”.

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Speedy Finance Compatibility

Startup: Yes, Speedy Finance will finance start-up businesses. Their usual policy is for customers to have been operating for at least 6 months but they may consider less with security. They also have a range of personal loans too.

Bad credit: Yes, Speedy Finance reviews yours incoming cash flows on bank statements, so bad credit can be mitigated in the loan process.

Sole trader: Yes, Speedy Finance will finance sole traders.

Minimum Monthly Turnover: Speedy finance requires minimum monthly turnover of $10,000 or more.

Established Business: Yes, Speedy Finance will finance established businesses 

Business Purchase: Yes, Speedy Finance will finance business purchases.

Maximum Loan Amount: $300,000 for bridging loans

We like the fact Speedy Finance offers a variety of lending solutions for its business clients, many more than just the most commonly advertised ‘unsecured business loan’. Their equipment finance loans allow customers to borrow up to $250,000 whilst their bridging and second mortgage loans allow customers to borrow up to $300,000. Their unsecured loans however are only up to $60,000, perhaps making Speedy Finance incompatible for businesses looking for larger unsecured loans.

And whilst Speedy Finance are more open to businesses at startup stage than other loan providers, there $10,000 minimum monthly turnover could prove a stumbling block and we believe security would certainly have to be provided for newer startups. Perhaps requiring a second mortgage loan.

Speedy Finance Review Summary
  • Credibility - 92%
  • Client Reviews - 95%
  • Website - 84%
  • Compatibility - 88%

Editor's Conclusions

Speedy Finance (website address speedyfinance.com.au) is considered by many to be one of the best Australian business lenders. Speedy Finance has been lending Australians money since 2004 and with limited negative reviews for a long-term business, which leads us to believe that they operate their business effectively and efficiently. Our Speedy Finance review demonstrates that the application process is quick compared to most competitors; it should only take 5 minutes. Loan terms are not available online because every loan situation is different but Speedy Finance do offer a variety of financing solutions and detail what your business requirements should be in order to be eligible for a Speedy Finance loan.

Best for:

Bad Credit Businesses

✓ Businesses that require multiple finance options

✓ Queensland based businesses