Grow your success with a business line of credit

Benefit from a business loan of between $10k and $250k. It all starts with an online application taking just 5 minutes.

Easy to apply

Apply online in just five minutes. There’s no time wasting on unnecessary paperwork or meetings.

We’re what you need

Enjoy an extremely versatile approach to business loans, including flexible drawdowns and repayment schedules of up to 12 months.

Helping your business grow

We make finance accessible to small and medium-sized businesses with ambitions to thrive and grow.

Safe and secure

We protect your loan application data with cutting-edge technology that’s as safe as that of a bank.

What is a business line of credit and how does it work?

A line of credit is more cost-effective than a regular loan because you only pay interest on what you borrow. When we approve your application, we give you a line of credit. This is finance you can borrow from us, as and when you need it.

Your line of credit will be capped at no more than $250k. It’s your choice how much of that you borrow, and you can draw it down in amounts that suit you. When you do draw down some or all of the finance, that drawdown becomes a business loan.

To help you keep track of your finance, we give you an easy-to-use online dashboard to manage your line of credit and drawdowns.

What is a business line of credit and how does it work?

A line of credit is more cost-effective than a regular loan because you only pay interest on what you borrow. When we approve your application, we give you a line of credit. This is finance you can borrow from us, as and when you need it.

Your line of credit will be capped at no more than $250k. It’s your choice how much of that you borrow, and you can draw it down in amounts that suit you. When you do draw down some or all of the finance, that drawdown becomes a business loan.

To help you keep track of your finance, we give you an easy-to-use online dashboard to manage your line of credit and drawdowns.

Why is a line of credit better for my business?

A line of credit from Spotcap is much more versatile - and gives you more control - than a traditional business loan because:

  • You only borrow and pay interest on the funds you need.
  • You can repay early without being charged any penalties.
  • There is no cost to set up a line of credit, because you only pay when you draw down.

Another benefit of a Spotcap line of credit is that we don’t ask for any security, including personal guarantees. This is made possible through our unique, rigorous credit assessment process which allows us to offer finance on an unsecured basis.

What can I use my line of credit for?

You choose how to use the finance we make available to your business through a line of credit. You can use it to:

  • Grow your sales

    Use a line of credit to push up your turnover, whether it’s by funding a marketing campaign, expanding your product range, or reaching out to customers in a new market. Investing in new sales will flow into extra profit.

  • Update your equipment

    Improve productivity and stay competitive by purchasing new business tools, which might be vehicles, computers or specialist equipment. Avoid the overheads associated with ageing assets that require more maintenance and become outdated.

  • Hire new staff

    Growing your team or replacing leavers can put a real strain on your finances, particularly when it takes time for their contribution to feed into profits. A line of credit gives you the assurance of extra funds being available if you need them.

  • Protect your cashflow

    Having access to a line of credit helps secure your business against short-term cashflow problems. It’s a safety net against the risk of late payment by a major customer, or a seasonal dip in sales receipts.

How can a line of credit benefit my business?

  • You have ongoing access to finance as you need it

    A business line of credit gives you easy access to funds, as and when you need them. You can use these funds for a range of business purposes, including paying suppliers, settling tax bills or ensuring your staff get paid on time.
  • Quick, simple online application process

    Unlike applying for a loan from a traditional provider, applying with Spotcap is fast and efficient. Spotcap provides tailored financial solutions allowing business owners to focus on what really matters - their business.
  • You only pay interest on what you borrow

    Interest is only charged on the money you draw down from the line of credit, and over the period for which you borrow it. You can save on interest by repaying early, which you can do without any penalty fee.

* These are genuine reviews from Spotcap customers in Australia.

The essential facts about a Spotcap line of credit

A Spotcap line of credit takes business loans to a new level of flexibility. You can draw down what you need, as you need it, repay early at no extra cost, and increase the amount you borrow by submitting new information about your recent business performance.

You can borrow

Your business can benefit from a loan of between $10k and $250k. You choose how to use these funds to help your business move forward.

Our loan terms

Once approved, you’re given access to a line of credit up to an agreed amount. You decide how much of this to borrow, and the amount you borrow is converted into a loan. Each drawdown becomes a separate loan, repayable monthly, over 1 to 12 months.

Criteria to qualify

A Spotcap line of credit is available to businesses that have been operating in New Zealand for at least 18 months, with an annual turnover of at least $200k, and a New Zealand business bank account.

Interest rates

We agree a fixed interest rate on your line of credit. This is based on market conditions and your recent business performance. Use our business loan calculator to estimate the interest rate and monthly repayments.

Line of credit repayment calculator

  • Amount
    $125,000
  • Time
    6 months

$14,951

Monthly Repayment

For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

Monthly Repayment

$14,951

  • Amount
    $125,000
  • Time
    6months
For illustrative purposes only. The example shown above is based on an average Spotcap customer. We base our decisions on several criteria and loans can only be granted to borrowers who can afford repayments. For more information about responsible lending click here or contact us directly.

How can I apply for a business line of credit?

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Sign up

To start the online application for a line of credit, input your basic personal and business information.

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Complete the application

Finalising your application includes linking your accounting software or uploading the required financial statements.

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Get approved

Once your application is approved, you’ll get access to funds within 24 hours.