How Shane got a business loan in under 20 minutes using GoBiz

As a small business owner, managing cash flow – making sure your income and expenses stay in sync – can be a constant juggling act. From delayed payments to unexpected equipment purchases to sudden increases in demand, businesses face challenges that can strain even the most carefully planned budget.

For Shane, an independent construction contractor on Queensland's beautiful Sunshine Coast, cash flow can be particularly unpredictable. Large upfront costs combined with clients who pay in stages or upon completion often create significant gaps between expense and income.

These challenges were on show recently when Shane saw an opportunity to purchase a work vehicle during a clearance sale. But the vehicle was expensive, and not only did Shane need the money in three days, he had to pay the full price or see the vehicle go to another interested buyer – leaving Shane to buy an even more expensive model or risk losing clients and work opportunities.

Faster finance with GoBiz

Having become an ANZ Business Banking customer in early 2024, Shane already had a strong relationship with his ANZ banker, Adalet.

In their early conversations, Adalet had identified cash flow as one of Shane’s key challenges and helped him take out a business credit card with a $50,000 limit through GoBiz, ANZ’s fast online business loan approval platform.

When Shane needed to purchase a vehicle, he reached out to Adalet for guidance. Knowing Shane was using Xero to manage his finances, Adalet suggested he apply for an asset finance loan through GoBiz.

From application to approval in minutes

GoBiz integrates directly with accounting software like Xero, MYOB and QuickBooks, to make the loan approval process quick and easy. If your accounts are fully reconciled and up-to-date, conditional loan approval usually arrives in less than 20 minutes, with funds appearing in your bank account in two business days – no security, application fee or annual fee required.

To make things even simpler, with GoBiz the whole application process happens online – so no need to fill out paper forms or visit a bank branch – and you can apply for unsecured loans of up to $500,000.

In Shane’s case, Adalet pre-emptively collected all his supporting documents, such as the vehicle invoice and insurance policy, to ensure that assessment and payment of funds could happen in the shortest possible time.

Shane and Adalet submitted their application midweek, and the funds landed in Shane’s account Friday afternoon, a few hours before the dealer’s cutoff – ensuring Shane got his vehicle and could keep taking on jobs without interruption.

Ready when opportunity calls

For ANZ, GoBiz solves one of the biggest pain points for their small business customers: time-consuming and slow-moving loan applications that make it hard to respond in real-time to new business challenges.

By working closely with his business banker (and keeping his accounts up to date), Shane was able to use GoBiz to seize an important opportunity with less than 72 hours’ notice, helping him grow his business for years to come.

If you’re looking for fast, flexible finance for your business, start your GoBiz application or request a call back from one of our expert business bankers.