The requirements for getting an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K company loans.
All you need for starting is your contact information (the name of your company, your name, email address or phone number) as well as the amount you’d like to borrow and your monthly income.
During the process and before settlement we will require confirmation of who you are, but not for starting:
In addition, once we have started in the process, for loans of more than $150,000 you will also need the following financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
The application for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an instant response and the funds could be in your account in 24 hours. Traditional business loans refer to an annual interest rate plus other fees and charges. Our company loan is a pre-paid loan which means you know in advance the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into a daily or weekly installment amount.
The Small Business Loan can be used for nearly every business need, such as cash flow management, business remodeling, marketing to purchase inventory, new equipment, for general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the loan amount.
To be eligible for a loan in this amount the company needs to have been trading for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger company loan is a great option for almost any company reason, such as business renovations, purchase of inventory or new equipment for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary to access funding over $150,000. This can be done by taking a charge against assets, and may be registered with the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally based rather than stating the security of a specific asset. The person who signs 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 register that is operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR gives priority over personal property to be granted according to the date a security interest that is registered.
Caveats are legal document lodged to offer notice of a legal claim to a property.
When you’re applying for larger company loans of more than $250,000, we may offer an initial pre-approval to simplify the process. We could be able to get this done without credit checks and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves answering a couple of financial well-being questions. It’s not an offer of credit or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you may receive may be subject to different conditions.
You can apply for a company loan if you:
The application process is quick and easy. Complete the online form in just a few minutes, and a dedicated business credit specialist will call you to guide you.
To be eligible for up to $100,000 you’ll need identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) we usually offer an answer within an hour if you apply in standard company hours and let us utilise the bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements , we are able to offer an answer within just one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be in a position to offer you with pre-approval conditional to your application within about six hours. Once you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Certain agreements have been approved in 24 hours.
The quickest method is to make sure you apply during normal business hours and let us use the advance bank verification to verify your bank information online. If you opt to upload documents from your account statements it will take a little longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within one hour – provided you submit your request at normal business time and permit us to use the bank verification system link to instantly verify your bank information online. If you want to upload copies of your banking statement, we’ll provide an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be capable of provide the conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain transactions have received approval 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 modern bank verification link to instantly verify your bank account information online. If you upload the copies of bank accounts, it may take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a specific amount we will consider a number of aspects to determine how much we can lend you well-being that is your business and the extent of payments your business will be able to support. The amount you receive from your loan will depend on the particular circumstances for your business.
If you apply for a certain amount, we will consider a number of factors to assess the well-being for your company and the level of payments your company can afford. The total amount of your loan will depend on the particulars of your business.
When you request one of our company loans, we’ll assess the risk assessment of your business and provide you with a tailored offer including the amount of the loan, the duration and interest rates. This company loan is an upfront cost loan which means you be aware in advance of the total amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates depend on several factors like the amount of money borrowed, what company assets the money will be used for and the sector the company operates in, how long the business has been operating, whether the company has enough cash flow to pay for the loan, and the overall well-being and creditworthiness of the company.
There are no hidden fees for our business loans, and you’ll know exactly how much you be required to pay, and when, from the day you sign up. There’s no compounding and no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the total amount of your loan in full at any time.
If you do decide to do this please talk to one of our helpful business loans experts. The experts will provide you with details for repayment and an early payout figure. It will be calculated using the sum of the principal remaining and any accrued interest at the time of early payment and 1.5% of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing repayments and to fit in your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from the nominated business account.
The security of your personal information, as well as being upfront about how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and a vital part of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to customer security and security. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account details online. This allows us to provide an immediate response.
An asset-based loan is when an business owner utilises an asset they own to obtain the loan. The asset can be an individual property, such as the family home or a company property like a truck or piece of equipment.
The vast majority of banks, even the big banks, tend to secure loans against an asset. If you have trouble paying back the loan, then your asset may be taken over by the lender. In essence it is an opportunity to secure new financing by using the value of what you already own.
For loans up to $150,000 the requirement for asset security is not required upfront to access the money but we do require a personal guarantee. In the event that you fulfill your loan commitments (as stipulated in your loan contract document) Asset security will never be needed. For loans of over $150K typically, you will need an individual ensure and security in the form of charges on assets.
