Mortgage and finance brokers servicing small business owners now have greater unsecured funding firepower, with OnDeck Australia lifting limits on its Lightning Loans Plus product to $300,000 and rolling out instant renewals for eligible customers.
The shift comes as more first-home buyers and property investors are also running businesses and need working capital on top of their mortgages and existing credit facilities. Unsecured business loans can help them manage cash flow without relying solely on residential security or further stretching borrowing capacity in a higher-rate environment.
OnDeck Australia CEO Cameron Poolman (pictured) said the strategy is to streamline the borrowing journey for time-poor SMEs.
“Our focus is on using automation and data to remove friction from the borrowing process and deliver a more consumer-like experience for small businesses,” Poolman said.
The latest data underlines how quickly demand is rising. OnDeck reported that February was its biggest month on record, with loan applications up 120% year-on-year, led by Western Australia and Queensland.
This followed a Q4 2025 uplift, when SME loan applications jumped 42% year-on-year with Western Australia, Queensland, and New South Wales leading the upswing. Expansion accounted for 30% of funding purposes, followed by inventory and equipment purchases.
Poolman noted that approval times for loans under $200,000 have fallen dramatically in the past two years, from about six hours to “just 12 minutes.” He said ongoing enhancements to OnDeck’s credit models have supported higher loan amounts at speed while keeping documentation requirements light. He added, “With that investment, we’ll keep rolling out features that improve speed and convenience.”
Brokers can now access unsecured Lightning Loans up to $200,000 with decisions in minutes, typically using recent bank statements and credit checks, while Lightning Loans Plus extends to $300,000 with decisions in hours and additional tax or accountant information.
Existing eligible clients can renew loans up to $60,000 with an instant outcome, giving brokers another lever when structuring holistic funding solutions for business-owner borrowers, particularly those balancing business finance needs with home loans and investment property debt.
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