Banjo Loans has transformed business lending in Australia, and it offers small and medium enterprises (SMEs) quick and flexible financing options when conventional banks turn them down. Banjo Loans has been the preferred choice of Australian businesses in need of growth capital, with the loans ranging between $ 20 000 and $2 million and the approval of loans as fast as 24 hours.
Who Owns Banjo Loans?
Banjo Loans is a company that is run by Fund2Market Pty Ltd (ABN: 32 713 685 984) and has Australian Credit License 601 130 527. Guy Callaghan, a former Olympic swimmer and with more than 25 years in the financial services sector, is the CEO of the company. Banjo was established in 2014 and has since earned the trust of most Australian small business owners, 51% of whom have long been relying on credit cards to finance their business.
The company is based in Melbourne and is operating out of its office in 561 Church Street, Level 2, Richmond, Victoria and has a staff of 36 employees who are committed to assisting the Australian SMEs.
Banjo Loans Australia Limited: Company Profile.
Mission and Vision
The company Banjo Loans was established based on the fact that innovative and dynamic businesses tend to accelerate compared to more conservative estimates. The company tackles one of the most important gaps in the Australian lending market, where it has been researched that out of every six small business owners who submit an application to a bank loan, four of them are not approved.
Financial Performance
As per the recent reports, Banjo Loans brings a revenue of about 5.9 million dollars per year and has grown at a very high rate, as the SME loan application grew by 45 per cent in the first quarter of FY25. This expansion is an indication of the growing need of alternative lending products by Australian businesses.
Banjo Business Loans: Product Range.
Business Loan Excel
- Loan amounts: $20,000 to $2,000,000
- Terms: It has a maximum of 60 months (recently increased to 36 months)
- Features: Extensive funding solution, flex repayments.
- Best: Mature businesses that need high capital investments.
Business Loan Express
- Loan amounts: $20,000 to $500,000
- Terms: 6 to 24 months
- Features: Automated analysis of bank statement, expedited approval.
- Best: SMEs that require timely supply of working capital.
Business Loan Flexi
- Special feature: 4 months interest only payments.
- Advantages: Goes in line with business cash flow cycles.
- Best when: The income is not regular and instead seasonal.
Asset Finance Excel
- Loan amounts: $20,000 to $2,000,000
- Recent improvement: Asset Finance Express has been raised to $500,000 from $250,000.
- Purpose: purchase of equipment, asset refinancing, release of capital.
Business Loan Bridge
- Purpose: Financing time critical funding requirements.
- Features: Fast settlement services.
- Best when: Businesses are waiting until they are financed or sales are made.
Interest Rates and Fees
Banjo Loans’ interest rates are between 9.75 and 34.95 per annum, making them competitive in the alternative lending market. The firm employs a Simple Annual Rate system, which is more convenient to the business persons in knowing the overall cost of borrowing.
- Key rate factors include:
- Trading record and business turnover.
- Credit profile and financial stability.
- Term and amount of the loan chosen.
- Security provided (if any)
What Deposits Do I need to take a Business Loan?
Banjo Loans has a significant competitive edge with most of its products being unsecured, and no deposit is required to apply for most loans. Deposit requirements however are varied depending on:
- Loan amount: Big loans can be subject to security.
- Business profile: Newer businesses may require extra guarantees.
- Asset finance: Equipment purchases can be between 10 and 20 per cent deposit based on the asset.
In the case of Asset Finance Express products, non-property backed clients are now able to get up to 250,000 without a deposit, which is higher than 1the 50,000 limit in the past.
Banjo Loans Melbourne Office and Contacts.
Head Office Address
561 Church street, level 2, Richmond, Victoria 3121.
Contact Information
- Customer Service: 1300 22 65 65
- General Enquiries: info@banjoloans.com
- Sales Enquiries: sales@banjoloans.com
- Inquiries by partners: partners@banjoloans.com
Online Presence
- Website: banjoloans.com
- LinkedIn: Business Loans Banjo.
- Xero Integration: Can be bought only with streamlined apps.
Why SME Loans are rejected and the way Banjo can help.
Common Rejection Reasons
Studies indicate that the most common cause of SME loan rejections is the question of their capacity to repay the loan. Other factors include:
- Weak trading background (Less than 2 years)
- Bad credit record or credit ratings.
- Poor record keeping of cash flow.
- Insecurity or security pledge.
- Incomplete business plans
Banjo’s Solution
- Banjo copes with these challenges by:
- Thinking outside the box: Business activity and industry information.
- Eligibility: 2-year trading, 500,000 turnover a year.
- Whole business evaluation: An overall analysis of the business image.
- Quick decisions: Approvals within the hours, funding within 72 hours.
Banjo Loans Recognition and Reviews.
Customer Satisfaction
Banjo Loans has a remarkable rating of 4.8 out of 5 on Trustpilot with 639 reviews. Clients have repeatedly stated how fast and efficient it is. The most common feedback themes are:
Professional, thorough, detailed and unobtrusive process with the use of 2020 IT smarts to make information interchange as painless as possible in the view of the director of the Media Company.
I found it very refreshing to have to deal with Banjo. They are quite fast in handling and approving requests,” – Business Owner.
Industry Recognition
- Anthill Smart 100 2016: Smart Fintech Innovator.
- Extended tenure leadership: New terms of extended loans to 5 years, leading the industry.
Banjo Loans Leadership Team and CEO.
Guy Callaghan – Chief Executive Officer.
Guy Callaghan has more than 25 years experience in financial services as the CEO. Having been an Olympic butterfly swimming athlete in the past, Guy uses the same focus and determination in making Australian SMEs successful. His leadership philosophy revolves around the fact that a business is far more than properties or collateral.
Executive Team
The leadership of the company consists of:
- Chief Financial Officer: Financial strategy and growth.
- Chief Technology Officer Julian Hedt: Head of innovation and digital.
- Chief Commercial Officer Brendan Widdowson: Product development and market growth.
Banjo Loans How to get started.
Eligibility Requirements
- Minimum time in trade: 2 years and above.
- Turnover: $500,000+ / year (41,666 minimum sales per month)
- Registration of the business: Significant ABN/ACN required.
- Credit history: Excellent credit will be favoured; however, it is not mandatory.
Application Process
- Online implementation: Basic online form on banjoloans.com.
- Documents: Bank statements, ID, and financials of the business.
- Credit checks: Expert group overview in 48 hours.
- Approval and funding: Available within 24-72 hours.
Required Documentation
ABN/ACN registration
- Identification documents
- Financial statements (2 or more years)
- Bank statements (new 3-6 months)
- Management accounts (where necessary)
Broker Support and Partner Program.
Banjo Loans has an Accredited Partner Program, which assists the finance brokers and accountants to provide value to their clients. The program includes:
- Business Development Managers (BDMs) are dedicated people.
- Intensive training and assistance.
- Competitive commission systems.
- Sales and marketing support materials.
The latest industry response has urged product improvement and this proves that Banjo is serious about the idea of having brokers.
Future of SME Lending Banjo.
Market Leadership
Banjo Loans is well-positioned to grow further with its applications increased in Q1 FY25 and continuous product implementation. The requirement to serve the SMEs by providing long-term loans of up to 5 years and higher loan limits of up to 2 million dollars per ABN has responded to the changing needs of the SMEs.
Technology Integration
The partnership of Banjo and other platforms, such as Xero, and the creation of new cashflow forecasting tools show that they are determined to use technology to make SMEs successful.
Government Recognition
The Productivity Commission of the Australian Government has recognised this gap that Banjo occupies, as they pointed out that there seems to be an unoccupied niche between uncollateralized finances of between 250,000 and 5 million, the one that Banjo specialises in.
Conclusion: Why Banjo Loans?
Banjo Loans is an outstanding firm in the Australian lending industry due to its speed, flexibility, and realisation of SME requirements. Having its head office in Melbourne, with a coherent team of leaders, and a history of supporting thousands of Australian businesses to grow, Banjo provides an interesting alternative to conventional banking.
Banjo Loans offers the funds to write the next chapter of your business development, be it working capital, asset finance or bridging funds. They are a partner in the business as they have a no early exit fees, flexible terms, and long-term relationships. Need to find out what you can get? Call Banjo Loans now at 1300 22 65 65 or go to banjoloans.com and begin your application and become one more happy Australian business owner who chose Banjo as the source of their growth capital.
