You know what’s interesting? A growing number of Australian side hustlers and solo business owners are quietly choosing secured personal loans, instead of the more traditional business loan route. It’s not because they don’t believe in their business; they just want something smarter, simpler, and more in tune with how they run things.
The New Landscape of Aussie Entrepreneurship
Let’s start here: being a “business owner” doesn’t always mean having a team or a brick‑and‑mortar operation. In 2025, many small-scale entrepreneurs juggle a full-time job, raising kids, and building an online store on the side. It’s no longer just about TechCrunch-style startups; it’s the freelance graphic designer buying better gear, or the mom selling handmade jewelry while the kids nap.
These people don’t require $200,000; neither do they want boardroom pitches nor complicated chat with commercial bankers. What they often need is a loan that lets them buy inventory, upgrade a work vehicle, or pay for equipment-all this without drowning in red tape. That’s exactly where secured personal loans come in.
What Is a Secured Personal Loan?
Here’s the deal: with a secured loan, you’re borrowing money and putting up something you own-say your car or some equity in your home-as security. Because the lender sees less risk, they usually give you better interest rates. In a nutshell, that means you get access to cheaper money and conditions that might work even if conventional business finance seems out of reach.
That’s why this isn’t just “finance for business” for many, it’s finance that makes sense for the actual business they run.
Top 5 secured personal loan lenders in Australia
Here are five Australian lenders that are becoming go-to options for side hustlers and solo operators looking to fund growth in a practical, low-hassle way:
1. Metro Finance
Well-known for financing cars, Metro Finance offers secured personal loans. This includes passenger vehicles, light and heavy commercial vehicles, yellow goods, agricultural machinery and others.
The process, handled via brokers, tends to be faster than a standard business loan.
The loans are ideal for anyone who owns or uses these assets for personal or partial work purposes, leveraging them to access funding.
2. Liberty Financial
Liberty Financial’s secured personal loans let you borrow up to $80,000, with repayment terms of 3, 5, or 7 years. The interest rate is fixed, which can really help with budgeting — especially if you’re juggling a side gig and personal finances.
Because the loan is secured by a vehicle, Liberty places more weight on the value of your car (or eligible vehicle) than on your business income or profit and loss. That makes the deal more flexible — but there’s a catch: Liberty’s secured loan is intended for personal or personal investment use, not strictly business spending.
liberty.com.au
3. NOW Finance
Their secured personal loans range from $15,000 to $100,000, depending on the asset you provide as security.
You can choose flexible repayment terms — from 18 months up to 7 years — so that payments are more manageable.
It’s a practical option if you’re scaling up, buying equipment, or leveraging an asset to access funding, without overstretching your cash flow.
nowfinance.com.au
4. Pepper Money
If you’re a side hustler or solo business owner in Australia, you might have heard about using Pepper Money’s secured personal loans to fund growth. Here’s the reality: it’s a little more complicated than it seems.
Pepper’s secured personal loans do range from $15,000 to $100,000, and you can take up to 84 months to repay them. Their online applications are straightforward, and they’re known for being flexible with self-employed borrowers. This means if your income comes from freelancing or part-time gigs, you have a better chance of getting approved compared to traditional banks.
The takeaway? Pepper Money can help self-employed Australians secure funds for personal use, but it’s not a go-to for officially funding a business. If your goal is to grow a side hustle, it’s worth speaking with a broker or financial advisor to explore the safest options—or to find a lender that explicitly supports small-business funding.
peppermoney.com.au
5. Jacaranda Finance:
Jacaranda Finance offers secured personal loans from $3,000 up to $25,000. Their secured personal loan requires you to put up something as collateral — usually a vehicle. jacarandafinance.com.au
They provide fixed monthly repayments over 25 to 36 months, so you’ll have a clear, predictable payment schedule. jacarandafinance.com.au
Because of the vehicle security, they may offer more favourable terms. But be aware: if you fail to repay the loan, Jacaranda can take possession of the car you used as collateral. jacarandafin
jacarandafinance.com.au
Why These Loans Are So Useful for Side Giggers
Lower interest rates: Because there’s collateral involved, you’ll often pay less in interest than you would for an unsecured personal loan. That money saved can go straight back into growing your business, not servicing debt.
Flexible funding. Whether you need cash for more stock, a better laptop, or a reliable van, these loans aren’t rigid. You decide how to use the funds-not some banker in a suit.
Easier to qualify: Most traditional business‑loan products want years of accounts, strong sales, and a spotless track record. Secured loans are more about the value of what you’re offering as security, so even a six‑month‑old side hustle could qualify.
Cash flow helps. If your business has irregular income, a secured personal loan might give you that buffer to pay upfront for materials, payroll, or overheads without having to stretch each paycheck to breaking point.
Build credit and credibility. Using a secured loan responsibly can help you build a stronger credit profile. Over time, that could make it easier to access other kinds of business financing.
A Few Things to Keep in Mind
Yes, secured loans are powerful, but don’t treat them like a silver bullet. Make sure you:
Know what you’re putting up as security: If it’s a car or your house, think carefully about what happens if you miss payments.
Have a plan: How exactly are you going to spend the money? More stock? A new computer? Growth works best when it’s intentional.
Read the fine print. Terms, fees, and charges vary; you’ll want to pick one that doesn’t trap you later.
Use it wisely. Just because you can borrow doesn’t mean you should borrow for non-essential expenses.
Final Word Honestly?
Secured personal loans are quietly becoming one of the smartest tools for today’s side hustlers and solo business founders in Australia. They give people a way to grow that feels rooted in real life-not in some idealised projection of “business funding.” If you’re building something piece by piece, on your own terms, then exploring lenders like Metro Finance, Liberty, NOW Finance, Pepper Money, or Jacaranda might be precisely the step that helps you level up. Give your collateral a purpose-and give your business a shot.
