You asked. We answered. Everything you need to know about a Sail business loan.


We believe in full transparency when it comes to online lending. We want small business owners across Australia to feel secure in the knowledge their business finance is in safe hands, and they have all the information they need up front to make an informed decision.


We’ve compiled a list of the most common questions we get asked from small business owners just like you, a quick go-to guide to help compare information between lenders to make sure you make the best finance decision for your business circumstances.


The top 11 questions we get asked most…


1. Does it cost to apply?

There are no costs for applying. The online application is free, and you can apply as frequently as you like. However, we don’t recommend applying more than once every 3 months as this may affect your credit history.


2. What do I need to apply?

Before you begin the online application, you’ll need your driver licence, ABN/ACN, and credentials for your online business bank account. If you have Xero or MYOB for your accounting, you can use these login details to complete the application. If you don’t use cloud accounting, that’s okay, we accept pdfs of your accounting statements via email. One of our customer sales support representatives will call you when you submit your application to follow up with any accounting information we need.


3. How do I apply?

You can apply online in 10 minutes. If you would like to complete a paper application, our customer support team can email or send you an application form to complete. You can contact us on 1800 00 SAIL or Mon-Fri 8am-6pm.


4. What are the fees?

We believe in full transparency. There is a one-off establishment fee of 2.5% deducted at settlement. From here, your weekly repayments are calculated up front, and we will direct debit the same amount each week from your nominated business account. There are no other fees for the length of your loan.


5. Can I repay early without penalty?

Sail is one of the only lenders that allows our customers to repay their loan early with no penalty, fees or charges. Our term loans are offered from 3-12 months from $5000-$100,000. Once you reach the minimum 3 months of your loan, you are free to repay the outstanding principle in full. Peace of mind for business owners who are looking for more freedom and flexibility.


6. What is the interest rate?

Given the short-term nature of our loans, we don’t use an annualised interest rate to describe our loans. We assess each application individually and offer a repayment schedule based on the health and growth potential of your business. Sail is a responsible lender; our loans are designed to be predictable and transparent with the entire repayment amount disclosed upfront.


7. Do I need to provide security for a Sail loan?

Sail business loans are unsecured. This means you do not have to provide any collateral, such as property or assets, to secure your loan.


8. What are the minimum requirements?

All Australian-registered businesses that have been operating for at least 6 months with a minimum turnover of $50,000 are eligible for a Sail business loan. The loan must be used for business purposes, we do not provide personal loans.


9. What types of businesses does Sail lend to?

Our customers tend to be focused around;

  • Hospitality- cafes, restaurants, bars
  • Retail- clothing stores, bricks and mortar shops, giftware, homewares, etc
  • Professional Services- financial and accounting services, design, creative agencies and much more
  • Health & Wellness – pharmacies, beauty therapists, beauty salons, hair salons, etc
  • Trades & Labour – carpenters, electricians, plumbers, etc
  • Franchises


10. What if I have bad credit?

Checking your credit history is just one part of our loan evaluation process. Depending on your circumstances, you may still be eligible for a business loan. Sail is a responsible lender, which means we won’t lend to businesses who we assess will be unable to repay. This protects your business and our business.


11. Is my personal and business data safe?

Absolutely. Sail prides itself on our advanced lending technology, especially when it comes to cyber security and data protection. We use airport-grade security software to verify the identity of business stakeholders, protecting you from fraud or identity theft. When it comes to financial data, we access read-only files.


Over to you…


Are there any other questions about business finance you’d like answered? We’ love to hear from you in the comments below.


If you’d like to get in touch, feel free to contact our friendly team on 1800 00 SAIL and

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