Refinance Guide
How to Refinance a Banjo Loan
Banjo Loans specialises in working capital for Australian SMEs, assessing businesses on cash flow rather than traditional metrics. We arrange Banjo facilities for clients who need accessible funding based on their trading history. Their flexibility serves businesses that banks may overlook. Once your business is ready for traditional finance, refinancing can reduce your interest costs.
About Banjo Loans
Banjo Loans provides unsecured business loans from $20,000 to $500,000 with terms up to 3 years. We recommend Banjo when clients need cash flow-based assessment rather than traditional credit metrics. This accessibility helps businesses that may not fit bank criteria. As your position strengthens, transitioning to bank rates delivers meaningful savings.
Typical Rates
15% to 35% p.a.
Typical Terms
6 months to 3 years, weekly or fortnightly repayments
Things to Consider with Banjo Loans
- Higher rates than bank alternatives
- Weekly repayments impact cash flow planning
- Can become expensive over longer terms
- Limits capacity for additional borrowing
- Renewal at similar rates perpetuates cost
Your Refinance Options
Bank Term Loan
If your financials have improved, bank term loans at 7-12% p.a. offer substantial savings with monthly repayments.
Secured Commercial Loan
Property security unlocks rates from 6-9% p.a. — potentially saving thousands annually.
Line of Credit
A business line of credit provides flexible access to working capital at 8-15% p.a., with interest only on amounts drawn.
Invoice Finance
If cash flow timing is your primary challenge, invoice finance may address the root cause at lower cost.
Considering Your Banjo Loans Options?
Whether you need additional capital or want to explore refinancing, we can help. Get a free assessment of your options.
How to Refinance Banjo Loans
Request your current payout figure from Banjo Loans
Prepare financial documentation for refinance assessment
We review options and identify suitable lenders
Submit applications to target lenders
New facility settles and pays out Banjo
Begin improved repayment structure
Frequently Asked Questions
Ready to Refinance?
Get a free assessment. We'll review your current facilities and show you what's possible.