Has anyone here actually managed to get a business loan with bad credit, or is that basically a guaranteed bad deal?

I’m trying to figure out whether these “easy approval” business loans are genuinely helpful or just a way to lock people into ugly repayments. My credit isn’t great, but the business itself is still running, so I’m wondering how much that really matters with lenders.

I’ve been looking at a few non-bank options and the whole thing feels a bit murky. Some of them make it sound like you can get funded pretty quickly, but I can’t tell if that means decent terms or just fast yes, terrible deal.

Would be good to hear real experiences from anyone in Australia who’s been through it.