An unsecured business loan for Australian small businesses, designed to help you expand, finance new inventory, or keep your operations running smoothly. Apply today to access fast, flexible funding with no collateral required.
Available to Tyro EFTPOS and eCommerce customers with a Tyro Bank Account.
An unsecured business loan provides funding without requiring personal or business assets, making it an ideal solution for businesses that need quick access to capital without tying up assets. A personal guarantee will still be required.
The loan amount is determined based on your business’s financial health and revenue through your Tyro terminals and history with Tyro. Repayments are designed in a way that aligns with your cash flow. With an easy application process and fast approval, you can focus on growing your business without the burden of securing traditional business assets first.
Access to fast, flexible funding is a real advantage. You may need a loan to help manage your cash flow, to take on new inventory, new staff, or upgrade your equipment.
A Tyro Business Loan could help you achieve your goals.
Tyro EFTPOS and eCommerce customers can borrow unsecured amounts up to $350,000 1.
Once you provide a personal guarantee and accept your loan, funds are deposited into a fee-free Tyro Bank Account in less than 60 seconds. In some instances we may require more information to complete your eligibility check.
Repayments are made by nominating a percentage of your EFTPOS and/or eCommerce takings, meaning repayments rise and fall in line with your cash flow providing flexibility during slower periods (subject to minimum repayments).
Simple pricing with no hidden charges. There’s just one fee which you’ll know up front and it’s paid down over the life of the loan as part of your loan repayments.
Apply for an manage your loan in the Tyro App or Tyro Portal. From seeing how much you could borrow, to customising your loan, to accepting in just a few steps, we’ve made it simpler for businesses to borrow loans, subject to eligibility criteria.
Find out how much you could borrow and understand your repayment costs. Use our tool to see the fee structure and how it aligns with your EFTPOS transactions.
The Tyro Business Loan calculator results are intended to be used as a guide only and are 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 the actual fee that will be payable for a loan for your business. The actual fee and total repayment amount may be higher or lower than shown. The repayments to be made from your daily EFTPOS and/or eCommerce settlement amounts are subject to minimum repayment amounts as set out in your loan terms and conditions. Default figures and calculator assumptions used by the calculator are subject to change at any time without notice. Using this calculator does not guarantee that you will be eligible for a Tyro Loan which is subject to you satisfying our eligibility criteria. Full terms and conditions are set out in the Tyro Lending Terms & Conditions.
Through the Tyro Portal
Log into the Tyro Portal and visit the Banking section to get started with your loan application.
Through the Tyro App
Log in to your Tyro App and tap on the loan tab in the home screen. Click on the Lending tab to start your application
Select the amount you want to borrow and nominate the percentage of your daily takings to repay your loan. Review the loan fee and estimated loan duration before following the prompts to apply.*
If you apply for an amount over your conditional approval limit, you may be prompted to speak to us to continue your application.
Provide a personal guarantee and accept your loan. Funds are deposited into your Tyro Bank Account in less than 60 seconds (if eligible).
There may be some scenarios where Tyro will need to gather additional information about your business before we can determine your eligibility.
*A credit check may be required 2. We will let you know during the application process if this is required and will request your consent before accessing your credit file.
As specialists in premium surfboard products, Onboard Industries requires access to fast funding for large production orders.
By going straight to Tyro and accepting their loan from the Tyro App, they get fast access to funds and repayments rise and fall in line with their cash flow.
Explore the many ways Tyro products help businesses bank better.
Earn interest on your income with a fee-free Tyro Bank Account, with settlement funds paid every day at a time you choose 3.
A quick, easy, secure way to accept payments in-store and/or online with a single settlement.
When comparing unsecured loans, it’s important to look at factors like loan amounts, repayment terms, and flexibility. You should also consider the loan fee structure instead of traditional interest rates, along with how repayments align with your cash flow. By comparing these factors, you can find a loan that suits your business’s financial situation. With Tyro, you can explore different loan options through the Tyro App and tailor the loan to meet your needs.
A Tyro Bank Account is required to apply for and access a Tyro Business Loan from the Tyro App and Tyro Portal. Additionally, Tyro customers without a Tyro Bank Account won’t be able to access the banking section of the Tyro Portal.
Eligible Tyro customers that don’t have a Tyro Bank Account will be prompted to open one as part of the loan application process. If you aren’t prompted to open a Tyro Bank Account, please contact our Customer Support team on 1300 00 TYRO (8976) for more information on what’s required.
The approval process is quick, often completed within minutes if you’re already a Tyro customer. Funds can be deposited into your Tyro Bank Account in less than 60 seconds. In some instances, we may require more information to complete your eligibility check.
If you want a Tyro Business Loan but don’t want to use the Tyro Bank Account, you can use the Flexible Settlement feature within the Tyro Bank Account to automatically transfer your daily EFTPOS and/or eCommerce takings settled by Tyro to your linked bank account. More information about Flexible Settlement can be found here: Flexible Settlement FAQs
Note: Loan repayments will be deducted from your settlement before transferring to your linked account, so you will receive a settlement amount that will be different from any reconciliation reports you run for that day’s takings.
Unsecured business loans can be used for a variety of expenses, including:
● Inventory Purchases: Acquire new stock or replenish existing inventory.
● Equipment Upgrades: Invest in new technology or machinery to enhance operations.
● Staff Expansion: Hire additional employees or fund training programs.
● Operational Costs: Cover day-to-day expenses and manage cash flow.
● Business Expansion: Fund new projects, open additional locations, or enter new markets.
We make repayments simple. Just nominate a percentage of your daily EFTPOS and/or eCommerce takings to go towards your loan repayments so you repay as you trade. This means repayments rise and fall in line with your cash flow so you have flexibility during slower periods (subject to minimum repayments). You also have the option to make manual payments and even pay the loan in full anytime, but you should note that the loan fee will remain the same.
Instead of an interest rate you are charged a loan fee, which is paid down with your loan repayments over the life of the loan. You can use the loan calculator in the Tyro App or Tyro Portal to explore how much you can borrow, customise your repayment options and calculate your loan fee so you know how much your loan will cost up front.
Tyro Business Loan is flexible so if you want to pay it off faster, that’s up to you. The loan fee is payable regardless of how quickly you pay off the loan. To pay off your loan sooner with a lump sum repayment, you can do this in the Tyro App, or simply contact Tyro Customer Support on 1300 00 8976.
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