The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K company financing.
All that’s needed to start is your contact details (company name, your name, email, phone) along with the amount you’d like to lend, and your monthly income.
During the process and before settlement we will need confirmation of who you are, but not for starting:
After we start in the process, for loans greater than $150,000 you’ll require the following financial statements:
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and the money could be in your account within 24 hours. Traditional company loans have an interest rate per annum as well as other fees and charges. The company loan is a cash-based loan which means you know ahead of time the total amount to be paid, including any interest, fees or charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used for virtually any business need, such as control of cash flow business renovations, marketing to purchase inventory, new equipment, as general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To be eligible for a loan of this size the business needs to have been in operation for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A large company loan can be used for almost any company purpose including business renovations, purchase of inventory or new equipment as well as for general working capital and much more. The loan is not available for personal purposes.
Asset security is needed for accessing funds over $150,000. This can be done by way of charge over assets, and may include registering this in the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature rather than stipulating security over an asset. The person who is signing the ensure is personally accountable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR allows preference over private property granted in accordance with the date on which a security interest was registered.
Caveats are legal document filed to offer an official notice of a claim to a property.
If you’re seeking larger business loans that exceeds $250,000 we may be able to provide an initial pre-approval that will help simplify the process. We might be able to get this done without a credit check, and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial health questions. This is not an offer of credit or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you are offered could be subject to different terms.
You can apply for a business loan if you:
The application process is quick and simple. Just complete the online application within a few minutes and a dedicated company credit specialist will contact you to guide you.
To be eligible for up to $100,000 you’ll require the right identification documents (valid Driver’s License) as well as a valid NZBN/IRD and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K and up) we can often provide an answer within one hour – as long as you submit your request within standard company time and allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll offer a decision in as little as an business day.
For Larger Business Loans ($100K to $500K) we might be in a position to provide you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based on the particular circumstances of each application. Some offers have been approved within less than 24 hours.
The fastest way for you to apply is make sure you apply during normal company hours and allow us to use our modern bank verification link to verify your bank information online. If you opt to send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within one hour if you make your application in normal business time and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can provide a decision within 1 business day.
For Larger Business Loans ($100K and up) we might be able to provide you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain deals have been approved within the space of 24 hours.
The quickest method would be to make sure you apply during standard business hours and allow us to use the advance bank verification to check your bank’s information online. If you decide to upload copies of your bank statements it may take a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a certain amount we take into consideration a range of aspects that determine the health of the business and the amount of the repayments your company is able to afford. The total amount of your loan will depend on the specific circumstances of your company.
When you make an application for a certain amount, we will consider a number of aspects to determine your health of the company as well as the amount of payments your business will be able to support. The total amount of your loan will be determined by the particulars the company.
If you decide to request business loans with us business loans, we’ll assess the risk profile of your company and provide you with a tailored offer, including the amount of loan, the term and the interest rates. This company loan is a loan that is priced upfront and you’ll know in advance the total amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates depend on a variety of factors like the amount of money of money borrowed, the company assets the funds will be used for, the industry the company operates in, how long the company has been operating as well as how long the business has enough cash flow to fund the loan, and overall well-being or financial standing of the company.
There are no hidden costs for our business loans. You’ll know exactly how much it is that you need to pay and when, starting from the very first day. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We do not charge an application fee. You are able to make an application for loans absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay all of your loan in full at any time.
If you choose to do this please contact our helpful company credit experts. They will provide you with repayment details as well as an early payout amount. It will be calculated using the sum of the principal remaining and any accrued interest at the time of the early payout and 1.5% of the principal balance and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow schedule, we provide repayments either weekly or daily. They will be automatically deducted from your designated business account.
The security of your personal information, as well as being clear about how we collect, use, exchange and ensure the security of your information is of huge importance and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We make use of an advanced bank verification system that allows you to instantly confirm your bank account information online, allowing us to provide quick responses.
The term "asset-based" refers to borrowing where an company owner uses an asset that they own to make the funding. The asset may be an asset belonging to the personal, like the family home, or it could be a business asset such as a vehicle or piece of equipment.
The majority of lenders, even the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan then your assets could be offered for sale by the lender. In essence it is means of securing new financing by using the worth of the asset you already have.
For loans of up to $150K, there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. need an individual guarantee. If you adhere to the terms of your loan (as stated in the loan contract) Asset security will never be needed. For loans that exceed $150K, generally, there is personal guarantee and security in the form an asset charge.
