Business Finance · 8 min read
Non-bank business lenders in Australia: who they are and what they publish
The Australian non-bank lending market has grown significantly. Here's how it works, who the major players are, and what each one publishes about its amounts, trading criteria, and terms — with a source for every figure.
Australia's big four banks have historically dominated business lending. But over the past decade, a new generation of specialist non-bank lenders has emerged, offering faster approvals, more flexible criteria, and products specifically designed for the cash flow realities of Australian SMEs.
What is a non-bank lender?
A non-bank lender is a financial institution that provides loans but is not an authorised deposit-taking institution (ADI). Non-bank lenders fund their loans through institutional investors and capital markets rather than retail deposits. This means their cost of capital can be higher than banks — reflected in interest rates — but their speed, flexibility, and approval rates are significantly better for SMEs.
The major non-bank SME lenders in Australia
Last verified: 10 July 2026
Prospa
Unsecured loans, lines of creditOne of Australia's largest non-bank SME lenders. ASX-listed. Known for fast online applications and same-day decisions.
- Max amount
- $500K
- Min. trading
- 6 months
- Term
- Up to 60 months
OnDeck
Term loans, lines of creditUS-headquartered with a significant Australian presence. Technology-driven assessment for fast decisions.
- Max amount
- $300K
- Min. trading
- 12 months
- Term
- 6–24 months
Lumi
Flexible criteriaAustralian-founded lender known for a willingness to consider a broader range of business profiles, including some adverse-credit situations.
- Max amount
- $1M
- Min. trading
- 6 months
- Term
- Up to 60 months
Moula
Data-driven assessmentTechnology-driven lender (part of the NAB group) using bank-statement and accounting-data assessment.
- Max amount
- $500K
- Min. trading
- 12 months
- Term
- Up to 60 months
The maximum amount shown is each lender’s published ceiling. Maximum amounts and minimum criteria are not necessarily available together: larger facilities typically require longer trading history than the minimum shown, and the biggest amounts may require security or be asset-backed, so the unsecured limit can be lower.
Avoir's panel is not whole-of-market. Not every lender listed here is one we can refer you to. These figures are published by the lenders themselves and were last verified on the date shown. Rates and criteria change — check with the lender before relying on them.
How to choose the right non-bank lender
- →Loan amount: Not all lenders cover the full $10K–$500K range. Check maximum and minimum before applying.
- →Approval speed: If you need funds urgently, focus on lenders with same-day decision capability.
- →Credit history: Some lenders are more conservative. Adverse credit history needs a flexible assessment lender.
- →Industry: Some lenders specialise in specific industries and better understand your revenue patterns.
Non-bank vs bank: the honest comparison
| Factor | Bank | Non-bank |
|---|---|---|
| Decision speed | 5–15 business days | Same day — 48 hrs |
| Documentation | Tax returns, financials, BAS | Bank statements only |
| Collateral | Often required | Not required |
| Interest rates | 6–12% p.a. | 12–35% p.a. |
Find your lender
One application. The right lender for your profile.
Avoir matches your enquiry to the most suitable lenders in our network. Free, fast, a soft credit check only — no impact on your score.
Apply now — it's free →