Small business finance: Non-banks vs. banks

With over 10 years of experience, the team at Naritas understand the hassle of jumping through the hoops to just apply for a business loan at a bank; let alone getting an approval.

What is a non-bank commercial lender?

Essentially, a non-bank lender is a lender that’s not a bank, credit union or building society. It has its own source of funds, which it lends out with a margin for profit.

A non-bank lender may also be a company or individual (as is becoming popular with P2P) who have cash or borrow money from a bank at wholesale rates and then lend that money with a profit margin added.


What are some of the key differences between banks & non-banks for small business borrowers?



Loan amount Borrow as little as $1,000 or as much as $500,000+ Banks actively court larger loans & borrowing less than $50,000 is cumbersome
Application process Easy application process with a decision in as little as 5 minutes Tiring process and excessive paperwork. Usually takes weeks for a result
Criteria Small and new business friendly. Bad credit considered Business must be established for 2 years+ with extensive proof on profitability.
Repayments Flexible to fit your budget Fixed large repayments
Money as fast as the same day Yes No
Loans can be approved with no verification of financial statements Yes No
Loans can be approved with no verification of tax returns/BAS Yes No
Transparent Cost Yes Yes
Approval criteria designed for small businesses Yes No


How do I get assistance with getting approved?

The team at Naritas are experts in delivering timely guidance & commercial finance approvals.  We have over 100 lenders on our panel & a high quality team of dedicated commercial credit advisers to steer you efficiently through the approval process.

To make an enquiry online with our team, click here. Alternatively please feel free to phone us on 1300 558 887 during business hours.