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Aboriginal & Indigenous Business Loans

Starting your own business is a big leap. That’s why we want to make the jump a bit easier. The steps you need to take to start and grow an Indigenous or Aboriginal owned business are much like running any other business in Australia. Often times, you need extra funding to get started or to help you better manage your cash flow.

Businesses that meet the requirements can apply for a long term or short term loan. If you are just starting out or only need a small boost, your business might be best served by microfinancing. In some situations, additional government support and assistance is also available to Indigenous business owners, so it is important to know your options. It all depends on your business and finance needs.

Indigenous and Aboriginal business loans - where to start?

If you are an Aboriginal or Indigenous business owner, Indigenous Business Australia (IBA) may be able to assist you. IBA is a government organisation that provides workshops, advice, business support programmes and in some cases, business finance, to eligible Indigenous business owners.

Here are a few basics about the types of options that might be available to you via IBA. It is best, however, to contact them directly to discuss your individual circumstances.

For more specific information and to find out if your business may qualify for these or other forms of support, you should contact IBA.

Additional funding options for Aboriginal and Indigenous businesses

Aboriginal and Indigenous businesses can also seek funding through traditional banks, online lenders like Lumi or other organisations. Businesses should evaluate which type of funding is best for their situation.

Here are a few examples:

  1. Traditional business loan. If you have been in business successfully for at least six months and can demonstrate profitability, you may quality for a long term or short term loan. Receiving a loan from a traditional bank will also likely require you to have collateral that can be used to secure the loan. Collateral often includes things like property, such as your home or vehicle, your savings, unpaid invoices, inventory and more. This might put your home, car or business equipment at risk if you are unable to make your repayments.
  2. Unsecured business loan. Online lenders may be able to provide you with an unsecured business loan. That means the loan is issued and supported only by the borrower's creditworthiness - not by a form of collateral. It is typically easier to qualify for an unsecured business loan and you can often receive the funds you need more quickly. For lenders, unsecured business loans carry more risk which means there is usually a higher interest rate.
  3. Microloans. Microloans often range anywhere from $100 up to around $50,000 and are typically best suited for new businesses or entrepreneurs. Since the loan amounts are smaller than a traditional long term loan, microloans are generally unsecured and short term - often one year or less.

There are several other types of financing that might be available to your business, so be sure to learn more about them before you decide.

Alternatives to Indigenous business loans: Ideas for funding your Aboriginal or Indigenous startup

The number of Aboriginal and Indigenous startups continues to grow across Australia. That means there are also more funding and business support options available as well. We’re a startup ourselves, which is why we want to support other startups in securing the finance they need to succeed.

In addition to more traditional forms of financing, here are some options that might be available for your startup:

Indigenous Business Loans FAQ

How does an Indigenous business loan work?

Indigenous business loans are similar to other types of loans, however their main function is to assist Indigenous business owners to thrive, providing additional financing that gives their small or medium enterprise the cash injection it needs.

What are the benefits of an Indigenous business loan?

Whether secured or unsecured, short-term or long-term, an Indigenous business loan can offer a number of benefits. These include helping your Indigenous business with cashflow, funding expansion plans, managing employees, and more.

I’m interested in applying for an unsecured loan for my Indigenous business. How can I get started?

Thankfully, the process for applying for an unsecured business loan at Lumi is relatively easy. Simply fill in our application form online, before waiting up to two hours to receive your outcome. Once a loan is approved, the funds will be deposited into your nominated business account on the same business day.

What documentation do I need to apply for an Indigenous business loan?

During the loan process, you may need to provide key personal and business information such as a valid form of ID (driver’s license or passport), information about your business (including registration details and ABN), evidence of your financial history, an effective business plan, your recent tax return, and an explanation of the purpose of the loan and how you intend to use the funds. Find out more about what lenders look for in your business loan application by reading our helpful guide.

Not sure if an Indigenous business loan is right for you? Be sure to check out our full list of finance options for startups.

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Min 6 months in business
Active ABN or ACN
Min $5,000 monthly revenue

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Finally, choose the annual interest rate

Our interest rate can vary from 9% - 24% Simple Interest Per Annum, depending on the borrower’s credit and risk profile.


Your Monthly Payment

Repayment amount is estimated based on your chosen loan amount, % Simple Interest Per Annum and term length, including an origination fee of 2.5% of the total loan amount.
Loan amount is estimated based on your chosen weekly repayment amount, % Simple Interest Per Annum and term length. The total repayment amount also includes an origination fee of 2.5% of the total loan amount.


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