The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Find out the eligibility requirements for our $100K to $500K company credit.
All that is needed to get started is your contact information (the name of your company and your name, as well as email or phone number) as well as the amount you’d like to borrow as well as your monthly income.
Through the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started with loans of more than $150,000 you will also require basic financial statements.
Let’s get started.
Sydney unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
You can apply for the Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and have the funds available in just 24 hours. Traditional company loans refer to an annual rate of interest together with additional fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the total amount to be paid, including any fees, interest or charges. Then, it is broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for almost any company use, including the management of cash flow, business renovations, marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
To be eligible for a credit of this size, your company needs to have been operating for a minimum of 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large business loan is a great option for almost all company use, including company renovations, purchase of equipment or inventory or as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required to access funding over $150,000. It is usually by taking a charge over assets, and could include registration with the PPSR or the registration of a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature rather than stating the security of a specific asset. The person signing the guarantee is personally responsible if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including items or assets). The PPSR allows preference over private property granted depending on the date that a security interest has been registered.
A caveat is a legal form of document to provide the public notice of a legal claim on a property.
When you’re applying for the Larger Business Loan of more than $250K we can offer a preliminary pre-approval to help ease the process. It is possible to apply for this without a credit verification and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial health checks. This is not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to an extensive credit evaluation and any offer that you might receive could have different conditions.
You can apply for a company loan if you:
The application process is simple and simple. Simply complete the online form in few minutes and an experienced business credit specialist will be in touch to guide you.
To apply for up to $100,000 you’ll require ID details (valid Driver’s License) as well as an active NZBN/IRD, and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements and the last two years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually offer an answer within an hour – as long as you submit your request in standard company times and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements we can offer the decision within just 1 business day.
For Larger Business Loans ($100K up to $500,000) we could be in a position to provide you with a conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, it could be faster based on the circumstances of each application. Certain offers have been approved in just 24 hours.
The quickest way to apply is to make sure you apply during normal business hours. You can also permit us to use the modern bank verification to instantly check your bank’s information online. If you choose to send us copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K or more) We can usually provide an answer in just one hour – provided you apply during normal business timings and permit us to use the bank verification system link to instantly verify your bank information online. If you decide to send us copies of your bank statements, we are able to provide an answer within one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be in a position to provide the conditional pre-approval within about six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this can be faster depending on the specifics of each application. Some deals have been approved within the space of 24 hours.
The most effective method is to make sure you apply during standard business hours, and allow us to use our advance bank verification to check your bank’s information online. If you choose to send us the copies of bank statements, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of factors to determine the health for your company and the level of payments your business is able to afford. The amount you receive from your loan will depend on the specifics that are unique to your company.
When you apply for a set amount, we will consider a number of elements to determine the health that is your business and the extent of repayments your company will be able to support. The total amount of your loan will be determined by the specific circumstances of your company.
If you decide to make an application for the company loans, we’ll assess the risk assessment that you have for your business and provide you with a customised offer including the amount of the loan, the duration and interest rates. The company loan is an upfront-priced loan therefore you will know in advance the total amount due, which includes any charges or interest.
Business loan interest rates depend on several factors such as the amount that is of money borrowed, the company assets the funds are used to purchase, the industry the company operates in, how long the company has been in operation as well as in the event that the business has enough cash flow to cover the loan, and the overall well-being as well as creditworthiness business.
There are no hidden fees for our company loans. You’ll be aware of the amount it is that you be required to pay and at what time, from the day you sign up. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments punctually).
We do not charge an application fee. You are able to apply for a loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can choose to repay the entire amount of the loan at any point in time.
If you are deciding to pursue this option, please speak to our friendly business lending experts. The specialists will provide you with details on repayment and an early payout figure. The figure will be calculated as the total of the principal remaining and the accrued interest up to the time of early payout in addition to 1.5 percent of the principal amount remaining as well as any outstanding fees.
To ensure you do not miss payments and to work your cash flow cycle we provide payments that are either daily or weekly. They will be automatically deducted from your business account.
Protecting your information, and being transparent about the ways we gather the information we collect, use, share and protect your information, is of paramount importance and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to customer security and privacy. We make use of an advanced banking verification system to instantly verify your bank account information online. This allows us to provide quick responses.
The term "asset-based" refers to borrowing where the company owner makes use of assets they own to get the loan. The asset can be either an individual property, such as the family home, or an company asset such as a vehicle or piece of equipment.
The majority of the lenders including the big banks, tend to guarantee loans against assets. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence, it is the process of securing additional financing using the value of what you already own.
For loans that exceed $150,000, it is not necessary to secure assets before you can access the money, however we do need an individual guarantee. If you adhere to your loan obligations (as detailed in the loan contract) the security of assets will never be required. For loans that exceed $150,000, typically, you will need the option of a personal ensure and security that is in the form charges on assets.
