Based on your transaction history with Tyro EFTPOS your business may be eligible to borrow up to $120,000 ($50,000 for first time borrowers).
One simple flat fee
Choose the amount you want to borrow and you’ll pay one simple flat fee over the life of the loan, then have full visibility of repayments. Calculate your fee.
Select the percentage of your EFTPOS takings to be automatically put towards your loan repayments. A slower day means smaller repayments, supporting your cash flow. Subject to minimum repayments.
60 seconds to funds
Once you provide a personal guarantee and accept your offer – both in the Tyro app – you’ll have the funds in your Tyro Smart Account in less than a minute.
No hidden costs
No early repayment fees, no management fees.
Customise your loan
Calculate your loan fee based on an entered loan amount, repayment percentage and your projected turnover.
We offer up to a maximum of $50k for first loans and $120k for subsequent loans.*
* The Tyro loan calculator results are intended as a guide only based on the information you input. The calculator may allow you to select a repayment percentage that may not be available for your actual loan. The results do not show an actual fee and total repayment amount for your business. Actual fees and total repayment amounts may be higher or lower than shown. The repayments to be made from your daily EFTPOS settlement amounts are subject to minimum repayment amounts set out in your offer or loan terms and conditions. Default figures and calculator assumptions used by the calculator are also subject to change at any time without notice. Using this calculator does not guarantee that you will be eligible for lending. Loan offers are subject to you satisfying our eligibility criteria. Full terms and conditions are set out in the Tyro Lending Terms & Conditions.
How it works
Step 1 - Login
Log into your Tyro App to view your loan offer. Don’t have Tyro App access yet? Request it here.
Step 2 - Customise
Customise your loan repayments inside your Tyro App and provide a personal guarantee.
Step 3 - Accept
Accept your loan offer inside the Tyro App. Doing so will change your daily settlement account to the Tyro Smart Account. Learn more about this fee-free bank account here.
Step 4 - Funds
Once you accept your offer, funds will be available within 60 seconds in your Tyro Smart Account, ready to be used to grow your business.
They don't make you waste endless hours in paperwork, and the approval process is quick and simple.
Frequently Asked Questions
How is the loan repaid?
The loan is automatically repaid with a percentage of your sales that you choose when accepting your loan.
The higher your EFTPOS takings, the faster you repay. On days without EFTPOS takings, means zero repayments, but you need to have repaid a minimum amount every 90 days to keep your loan in good standing.
There's also the option to make manual payments and even pay the loan in full anytime without penalty.
What is the interest rate?
Loan repayments are not based on interest rates. You are charged a simple flat fee. See how it works with our loan calculator.
What does 'unsecured business loan' mean?
Tyro will not request any additional collateral such as property be provided as security for the loan. However, you are required to provide a personal guarantee.
What if I want to pay off my loan earlier than originally agreed?
Yes you can. However, the flat loan fee is payable regardless of how quickly you pay off the loan. To pay off your loan sooner with a lump sum repayment, simply contact Tyro Customer Support on 1300 966 639 (“2”).