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2020-09-07 03:16:01coronavirusEnglishFind out how ANZ and QuickBooks Online have teamed up to give small business owners access to fast and easy loan applications.https://quickbooks.intuit.com/au/resources/au_qrc/uploads/2020/09/a3c85356-89c3-461d-97b8-fa163adc3108_hero_600x284.pnghttps://quickbooks.intuit.com/au/resources/coronavirus/small-business-finance/Get on top of business easier, with access to business finance

Get on top of business with easier, faster business finance

3 min read

Access to cash is now more important than ever

Following the first wave of COVID-19 and the restrictions placed on business activity, 72 per cent of Australian businesses reported a reduced cash flow would have an adverse impact on their businesses.

With COVID-19 continuing to have a devastating impact on the economic environment, cash flow management is a prevalent issues for many small businesses and access to finance is more crucial than ever.

What is ANZ Online Business Lending?

ANZ Online Business lending is a fast and easy way to apply for unsecured finance online.1

  • Apply in under 20 minutes
  • Get conditional approval in minutes, where eligible.
  • Access funds within two business days of returning signed contract

The secure online application process is made seamless by allowing you to connect to your QuickBooks Online account and effortlessly provide the requested information.

Lending you can tailor to your needs

Whether you need funds to help you manage cash flow ups and downs, or you’re looking to make an investment in your business, ANZ Online Business Lending has got you covered with both loans and overdrafts available. An easy, step-by-step online application will help you select the right product for your business needs.

And, with unsecured lending you don’t need to use your assets, like cash or property, as a form of security, though a personal guarantee may be required (for example, from company directors).

We recommend that you speak to your accountant  or other financial advisor about what finance solutions best suit your business needs.

Features of ANZ online business loans:

  • An unsecured loan from $10,000-$200,000
  • Flexible repayment options with a variable rate loan and no additional cost for early repayments
  • The certainty of fixed repayments with a fixed rate loan
  • $0 Approval fee. Quarterly loan administration fee applies.

Features of ANZ online business overdrafts:

  • Only pay interest on the money you use
  • No minimum or maximum term
  • No repayment deadline
  • $0 Approval fee. Credit facility fee applies.

How does it work?

There are four easy steps for you to complete – ANZ do the rest.

  1. Get started online through the ANZ site 
    Tell ANZ about your business and lending needs.
  2. Link your QuickBooks Online Account
    Share your business financials via a one-time connection to QuickBooks.  A guided process will automatically determine your borrowing power and enable you to tailor lending to your cash flow.
  3. Get conditional approval in minutes if you are eligible (see Eligibility Requirements below). Full approval in just days.
  4. Receive funds in your account
    After you sign and return your contracts, you will receive funds in under two business days.

What business information is shared with ANZ?

Your QuickBooks Online account is needed for the application and approval process.

The information required to complete an accurate assessment is outlined below.

ANZ currently captures 12 months of data taken from 1 February 2019. This information must be up-to-date.

  • Profit and Loss report.
  • Balance Sheet.
  • 12 months of historical transactions and supporting information.

A secure link between ANZ and your QuickBooks account will be established as part of the process. Your details will not be distributed to any third parties and will only be used to assess your finance application.

Eligibility criteria for ANZ business lending solutions

You personally need to be:

  • an Australian citizen or permanent resident aged 18+
  • a sole trader, or the sole director of your business with a valid ACN
  • the key financial decision maker for your business

For full eligibility criteria please visit the ANZ site.

All ANZ business finance options are subject to eligibility and credit criteria.
1With unsecured lending you don’t need to provide asset security, such as cash or property, although a personal guarantee may be required (for example, from company directors).

Get started with ANZ today, apply online now.

To find out more or begin your application with ANZ, click here.

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Information may be abridged and therefore incomplete. This document/information does not constitute, and should not be considered a substitute for, legal or financial advice. Each financial situation is different, the advice provided is intended to be general. Please contact your financial or legal advisors for information specific to your situation.

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