Whether it's freeing up your cash flow, upgrading equipment, or growing your business, a Tyro loan can help your business.
Finance when you need it
Tyro EFTPOS customers1 can borrow unsecured amounts up to $120,000 ($50,000 limit for first loans).
Easy repayments in line with cash flow
Payments are made by nominating a percentage of your EFTPOS takings, meaning repayments rise and fall in line with your cash flow. Minimum repayments are required.
60 seconds to funds
Funds are available fast...! Once you accept your offer and provide a personal guarantee, both within the Tyro App, the funds are deposited1 to your Tyro Bank Account^ in less than a minute.
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 Bank 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 Bank 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 payable over the life of the loan. 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”).
1 A Tyro loan is subject to Tyro’s eligibility and credit criteria and requires settlement funds to be deposited into the customer’s Tyro Bank Account.
^ The Tyro Bank Account is also known as the Tyro Smart Account and is governed by Tyro's EFTPOS Banking Terms and Conditions