The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the conditions of eligibility for our $100K to $500K company loans.
All that’s needed for starting is your contact details (the name of your company, your name, email and phone) as well as the amount you’d like to borrow as well as your monthly income.
In the course of the process and before settlement we will require confirmation of who you are, but not to get started:
Additionally after we get started in the process, for loans greater than $150,000 you’ll need the following financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
You can apply to this Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the funds could be on your account within 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. We offer a company loan is a pre-paid loan and you’ll be aware in advance of the total amount payable including any fees, interest or charges. This is then divided into a daily or weekly installment amount.
The Small Business Loan can be used for virtually any business purpose including cash flow management, company remodels and marketing, to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the company needs to be trading for at least 3 years, and have an annual income of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A Business Loan of a larger size can be used for nearly any business use, including company improvements, purchasing equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is needed to access funding over $150,000. This is by taking a charge against assets, which could also include registration on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is generally in nature rather than specifying security over an asset. The person who signs the ensure is personally accountable if the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including goods or assets). The PPSR grants preference over private property granted depending on the date that a security interest that is registered.
Caveats are legal form of document to offer notice of a legal claim on a property.
If you’re requesting an enterprise loan of more than $250,000 we may be able to provide a preliminary pre-approval to help ease the process. It is possible to do this without credit checks and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial health checks. It’s neither an offer nor a guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you receive could be subject to different terms.
You may apply for a business loan if you:
The application process is simple and easy. Just complete the online application in few minutes and a dedicated company loan specialist will call you to help you.
To apply for up $100,000 you’ll require ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll also require:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we typically provide a response in one hour – as long as you make your application within quality business timings and permit us to use the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements , we’ll be able to provide an answer within just an business day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be able to offer you with a conditional pre-approval within six hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during normal company hours. Also, let us use the modern bank verification to instantly check your bank’s information online. If you opt to upload duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K or more) we can often offer a response in one hour if you make your application in normal business times and let us use the bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statement, we’ll offer the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be capable of provide you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Some offers have been approved in 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours and permit us to use the advance bank verification to instantly confirm your bank details online. If you decide to upload the copies of bank accounts, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a specific amount we look at a variety of aspects in order to assess the well-being of the company and the amount of repayments your company can afford. The amount you receive from the loan will be determined by the specific circumstances the business.
If you apply for a specific amount we will consider a number of factors to assess how much we can lend you such as health for your company and the level of repayments your company can support. The total amount of your loan will depend on the particular circumstances the company.
When you apply for the business credit, we’ll assess the risk assessment of your company and offer you with a tailored offer, including the amount of loan, the term and the interest rates. The business loan is an upfront priced loan and you’ll be aware of the total amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates vary due to factors including the amount borrowed, the company assets the money are used to purchase and the sector the business operates in, how long the company is in operation as well as in the event that the company has sufficient cash flow to pay for the loan, and the general well-being and creditworthiness of the company.
There are no hidden costs for our company loans. You’ll know precisely what you be required to pay and at what time, from the first day. There’s no compounding interest, and no extra fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You can make an application for loans 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 choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can repay the entire amount of the advance loan at any time.
If you decide to pursue this option, please call our helpful business credit experts. We will provide you with details on repayment and an early payout figure. This is calculated as the sum of the principal remaining and the accrued interest up to the time of the early payout in addition to 1.5% of the principal remaining and any outstanding fees.
To make sure that you don’t miss repayments and to fit in with your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from your nominated company account.
Security of your data, and being clear about how we collect data, process, exchange and safeguard your data, is of paramount importance and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and privacy. We make use of an advanced banking verification system to instantly verify your bank account details online, allowing us to provide an immediate response.
An asset-based loan is when an company owner uses an asset they own to get a loan. The asset can be an individual property, such as the family home, or it could be a company asset such as a truck or piece or equipment.
The majority of banks, including the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan, then your assets could be taken over by the lender. In essence it is a way of securing new financing by using the value of what you already own.
For loans of up to $150K, there is no requirement for asset security prior to the loan’s access, however we do need the personal guarantee. As long as you follow the loan terms (as specified in the loan contract) Asset security will never be needed. For loans of over $150,000 generally, there is the option of a personal guarantee and security in the form an asset charge.
