Quick answer
To compare two fast business loan offers, line up the amount you receive, the total amount repayable, the cost for each dollar received, the repayment schedule, early repayment terms, security required and conditions outstanding. The cheapest offer on paper is not always best if its repayments squeeze cash flow or its conditions delay funding.
Key points
- Compare total repayable, not headline figures
- Cost per dollar received makes different sizes comparable
- Repayment schedule matters for cash flow
- Conditions and early payout can change the winner
When you have two offers in front of you and a deadline approaching, you need a quick, reliable way to decide. Headline figures are designed to catch your eye, not to help you compare. This method takes about ten minutes.
Step 1: line them up
| Item | Offer A | Offer B |
|---|---|---|
| Amount you actually receive | ||
| Total amount repayable | ||
| Total cost (repayable minus received) | ||
| Cost for each dollar received | ||
| Term | ||
| Repayment frequency and amount | ||
| Early repayment terms | ||
| Security required | ||
| Conditions still outstanding |
Step 2: check the amount received
Some fees are deducted from the advance. Make sure you are comparing the money that will actually reach your account, not the headline loan amount.
Step 3: compare total cost and cost per dollar
Total cost is the clearest comparison for offers of the same size. For different sizes, divide the total cost by the amount received. Lower is cheaper.
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The fast-funding timeline
| Stage | Typical timing | What speeds it up |
|---|---|---|
| Enquiry | About 60 seconds | Accurate figures for amount and revenue |
| First call | Minutes, in business hours | Answering an unknown number |
| Approval | As fast as 15 minutes, commonly within the hour | Statements via a secure bank link |
| Signing | Same day | Directors and guarantors on standby |
| Funds | Within 24 hours possible | Payee details ready, including the ATO or supplier |
Step 4: test the repayments
Put each offer’s figures into the repayment estimator. Check the weekly amount against your quietest week. A cheaper offer with daily repayments that squeeze payroll may be worse than a slightly dearer one with no repayments during the term.
Step 5: check early repayment
If you expect to repay early, ask how each offer treats it. One offer may be cheaper over the full term but more expensive if repaid early, or vice versa.
Step 6: check speed and conditions
An offer that cannot fund before your deadline is not an offer. Ask what is still needed and how long it will take.
A worked example (illustrative)
Offer A: receive $95,000, repay $112,000 over six months with weekly repayments. Offer B: receive $100,000, repay $116,000 over six months with interest added and no repayments until the end. Cost per dollar: A about 0.18, B 0.16. B is cheaper per dollar and leaves cash in the business during the term, but requires a property owner’s signature. The owner chooses B and arranges signing that afternoon.
Do not forget the soft factors
How quickly the lender responds, how clearly it explains the terms and how it handles your questions say a lot about how it will behave if something changes during the term.
Write down the winner and why
Once you decide, write one line explaining why: lower total cost, better repayment fit, faster funding or friendlier early payout. If anything changes before signing, such as a new fee or a different term, you will know immediately whether the decision still stands.
When offers are close
If two offers are close on cost, choose the one that is clearer, faster to fund and easier to repay early.
Get these ready first
Most delays come from documents that are not ready when they are asked for. Line these up before you enquire:
- Both offers in writing
- Your weekly cash flow figures
- Your expected repayment date
- A list of questions for each lender
Common delays and how to avoid them
In our experience, delays usually come from one of these:
- Comparing headline rates or fees only
- Ignoring fees deducted from the advance
- Not testing repayments against a quiet week
- Forgetting early repayment terms
Related reading
- Understanding the total cost of fast business finance: Why the total cost of finance is the fairest way to compare fast business loans, what goes into it, how to calculate it and what it means for your cash flow.
- Repayment estimator: Turn the total cost on a quote into daily, weekly and monthly repayments, with no rate needed.
- How to read a business loan offer quickly, without missing anything: A fast, reliable way to read a business loan offer: where to find the amount, total repayable, fees, repayments, security, conditions and early payout terms.
- Fast business loan red flags and scams to avoid: The warning signs of a business loan scam or a bad fast lender: upfront fees, pressure, guaranteed approval, payment redirection and unclear terms.
- Early repayment and exit planning for fast business loans: How to plan the exit from a fast business loan, what to ask about early repayment, how to build in buffers and what to do if your exit runs late.
Terms used in this guide
- Total cost of finance: everything repaid above the amount received, including interest and every fee. The fairest way to compare offers.
- Exit: how a short-term loan will be repaid, such as a sale, refinance, large receivable or business cash flow.
- Guarantor: a person who agrees to repay the loan if the borrower cannot.
- Conditions: things that must happen before funds are released, such as signed documents or verified ID.
Before you accept an offer
- What is the total amount repayable, including every fee?
- Is interest charged as you go, prepaid or added to the loan?
- What does it cost to repay early, and is there a minimum term?
- When is the first repayment, and how often after that?
- What happens if I need longer than the term?
Get the form right, get funded faster
The enquiry takes about 60 seconds, and those 60 seconds decide how smoothly everything after it goes. Accurate figures for revenue and the amount, a straight answer about credit history and a clear yes or no on property mean the assessor can move straight to the decision. Guesswork means rework, and rework is the enemy of a 24-hour turnaround.
In a nutshell
- Compare total repayable, not headline figures
- Cost per dollar received makes different sizes comparable
- Repayment schedule matters for cash flow
- Conditions and early payout can change the winner
Inside a fast approval
Fast does not mean careless. Every loan still gets a proper look at how the business trades, who owns it and how the money will be repaid. The difference is that we do the looking quickly and in parallel. Bank statements can be read in minutes once they are shared, property loans do not wait on a valuation, and documents are signed electronically. Approval within the hour is common, and funding within 24 hours is possible when every party signs promptly.
Your next step
Nobody can promise approval, but we can promise a fast, honest look. There is no credit check when you enquire, we do not farm your details out, and a person rather than a bot reads what you send. Answer the questions accurately and you give yourself the best shot at a quick yes. Start here.
Frequently asked questions
What is the single most important number?
The total amount repayable compared with the amount you receive.
How do I compare offers of different sizes?
Divide the total cost by the amount received to get the cost for each dollar.
Should I always take the cheapest offer?
Not always. Check repayments, conditions, early payout terms and how fast it can actually fund.
Can I ask a lender to explain an offer?
Yes. A good lender will explain every part of it.
Start the clock right here
The same 60-second enquiry, on this page. No credit check to enquire, and a real person picks it up fast.