Business loans built to replace your existing finance
Locked into a rate or structure that no longer fits your business? Explore business loans that can take over your current facility with an option better suited to where your business is today, guided by a specialist from start to finish.
- Active ABN required
- Established trading history
- Revenue-producing business
- Genuine business purpose
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Business finance for businesses outgrowing their current facility
Available options depend on the facility being replaced, its remaining term, the intended new structure and individual lender requirements, not on a single fixed purchase or project.
When a facility needs replacing, most businesses go straight back to the lender that issued it, without checking what else is available. Here is how a specialist approach can help.
Rather than waiting on your current lender to reassess the facility internally, your refinance is compared against a panel of alternatives at the same time.
A specialist looks at why the current facility no longer fits (rate, term, repayment style, or all three) before recommending what should replace it.
Assessment looks at how the business is trading today, not the criteria the original facility was set up under.
No juggling exit costs, new terms and timing alone. One dedicated specialist manages the whole refinance process.
What is business finance?
When refinancing, business finance still comes down to a genuine commercial purpose, this time replacing an existing facility rather than sourcing funds for the first time. That might mean moving to a better-suited rate or term, consolidating repayments, or freeing up cash flow tied to a structure that no longer fits. The right replacement structure, covered below, depends on the facility being refinanced and how the business expects to repay it.
Not sure where to start? What are you looking to fund?
Worth a look
Business finance options for every need
From a defined project cost to ongoing working capital, different structures suit different needs. Availability remains subject to lender assessment.
Business term loan
A lump sum advanced upfront, repaid on a fixed schedule. May suit a defined purchase or project.
For a defined purchase or project- Fixed instalments
- Term, fees & cost
- Can be secured or unsecured
Business overdraft
A buffer attached to the business transaction account. May suit short-term account fluctuations.
For short-term account fluctuations- Repay what you draw
- Reviews, limits & fees
- Interest usually applies only when drawn
Business line of credit
A standalone pre-approved limit, drawn on and repaid as needed. May suit recurring working capital needs.
For recurring working capital needs- Draw & repay as used
- Usage & fees vary
- Separate from your everyday account
Working capital loan
Short-term funding for day-to-day costs. May suit businesses managing routine cash flow timing.
For day-to-day operating costs- Short, agreed term
- Term, fees & cost
- Typically assessed on trading history
Invoice finance
Funding advanced against unpaid invoices instead of waiting on standard customer payment terms.
For unpaid invoices- Repaid on collection
- Advance rate & fees
- Also known as debtor finance
Trade finance
Funding to bridge the gap between paying suppliers and receiving payment from customers, commonly used for import or export orders.
For businesses managing supplier payment timing- Repaid on completion
- Terms & total cost
- Can suit domestic or international deals
Business cash advance
A lump sum advanced against future sales, repaid as a share of ongoing takings.
For future turnover- Repaid as you trade
- Cost & repayment rate
- Also known as a merchant cash advance
Unsecured business loan
Finance assessed on the business itself, without offering property as security.
For businesses without property security- Fixed or flexible
- Terms vary by lender
- Assessed on the business, not its assets
We're a business finance specialist in loan refinancing
A dedicated specialist reviews every refinance enquiry personally, backed by a real credit licence, not an automated decision engine. That's the difference a specialist approach makes.
Switching facilities can feel like more admin than it's worth, so a lot of businesses stay on terms that stopped suiting them long ago. The team works specifically with ABN holders and business owners looking to move, not general banking customers, because that switch deserves someone who handles it daily.
Get started
Fast, indicative pre-approvals
Where eligible, get an indicative pre-approval within 24 hours, with costs and conditions explained clearly, so you know where you stand quickly.
Repayments matched to how you earn
Uneven income or project-based cash flow can strain fixed repayments. Options are compared to suit how the business actually earns and repays.
Licensed and accountable
Equifund holds Australian Credit Licence 389328, the same regulatory standard held by any credit provider.
An established specialist
Assisting Australian businesses with finance since 2021, with real, verified client reviews.
What our clients have to say
Rated 5.0 on Google by Australian business owners for fast pre-approvals, flexible terms and dedicated service.
Common business finance questions
Straight answers to the questions business owners ask most before applying.
What is a business loan?
A business loan provides funds for a genuine commercial purpose. The amount, term, fees and repayment structure depend on the product, lender and financial position of the business.
What is the difference between a business loan and an overdraft?
Is a line of credit the same as a business loan?
No. A term loan generally provides one amount, while a business line of credit (sometimes called a commercial line of credit) provides access to an agreed limit that can be drawn from when required.
Is Equifund a lender?
Equifund is a business finance specialist, not a lender. We help businesses understand and compare available options from our lender panel and do not provide credit directly.
What is a working capital loan?
A working capital loan provides funding for day-to-day operating costs, such as covering the short-term timing gap between paying expenses and receiving revenue.
What is invoice finance?
Invoice finance allows a business to access funds tied up in unpaid invoices rather than waiting on standard customer payment terms. The invoice value, less fees, is generally advanced ahead of payment.
What is trade finance?
Trade finance provides funding to bridge the gap between paying suppliers and receiving payment from customers, and is commonly used for import or export orders.
What is a business cash advance?
A business cash advance provides a lump sum advanced against expected future turnover, typically repaid through an agreed percentage of ongoing takings or fixed instalments.
Can funds be used for stock, projects or operating expenses?
Yes, provided the purpose is a genuine business purpose. Common uses include stock, projects and operating expenses, though the suitable structure depends on the specific need.
What is business loan refinancing?
Business loan refinancing means replacing an existing business finance facility with a new one, generally to access a different rate, term, structure or lender. The right option depends on the facility being replaced and what the business needs going forward.
What businesses may be eligible?
Businesses with an active Australian ABN and an established trading history may be eligible. Lenders may also assess revenue, existing commitments, credit history and repayment capacity.
Can self-employed business owners apply?
Yes, self-employed business owners with an active ABN and evidence of trading may be eligible to enquire. Lenders will assess income, trading history and repayment capacity as part of their process.
What documents may be required?
A lender may request identification, business bank statements, BAS records, financial statements and evidence supporting the funding purpose.
What is an unsecured business loan and is property security always required?
An unsecured business loan is assessed on the strength of the business itself, such as trading history and cash flow, without offering property as security. Not all options require security; what is required depends on the lender, the amount and the business's circumstances.
Can a business refinance before its current facility term ends?
Yes, in most cases. Refinancing generally involves paying out the existing facility using funds from the new one. Whether an early payout or discharge cost applies depends on the current lender and the facility's terms.
Will making an enquiry affect the applicant's credit file?
Whether a credit check is required depends on the lender and stage of the application. The applicable process should be explained before a formal application proceeds.
How long can the process take?
Timeframes vary by lender and the complexity of the enquiry. Some enquiries may be reviewed quickly, while others may take longer if additional information is required.
What fees or costs should the applicant consider?
Fees and costs vary by lender and product, and may include establishment or ongoing fees. These should be reviewed and understood before proceeding.
What happens after the form is submitted?
A business finance specialist will review the information provided and may make contact to better understand the funding requirement and discuss available options.
What costs should be considered when refinancing?
Costs can apply on both the facility being replaced, such as a discharge or early exit cost, and the new facility, such as an establishment cost. These should be reviewed and understood before proceeding, alongside the potential benefit of switching.
Clear terms. No unnecessary complexity. Fast outcomes.
A straightforward path designed to move you from application to pre-approval quickly.
Tell us what
you need
Share the facility you're looking to replace and what you need instead, then talk it through with a specialist.
Compare
available options
Your specialist reviews the refinance market and shortlists the options genuinely worth pursuing.
Review your
pre-approval
See the numbers laid out clearly, and confirm they work before moving ahead.
Settlement
and funding
Your specialist works to source the best funding offers available and guides your application through to settlement.
Apply for business loan refinancing
Getting a quote won't affect your credit score, and there's no cost or obligation to ask. It only takes a few minutes to find out what's available.
- Evidence of repayment capacity
- Business bank statements
- BAS or recent tax returns
- Proof of ABN and trading history
Nothing to prepare at this stage. A specialist will confirm exactly what's needed once you're in touch.
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