The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K business loan.
All that is needed to get started is your contact information (company name, your name, email and phone) along with the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we will need confirmation of who you are, but not to get started:
In addition, once we have started in the process, for loans of more than $150,000 you’ll need the following financial statements:
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Sydney unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
The application to get your Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and funds may be in your account within 24 hours. Traditional company loans refer to an annual interest rate plus other fees and charges. Our company loan is a pre-paid loan therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for virtually any company purpose including control of cash flow company renovations, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate the flow of cash.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your business needs to be operating for at least three years and have an annual turnover of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger company loan is a great option for almost any business use, including business renovations, purchase of equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge on assets, and may include the registration of this on the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally in nature rather than stipulating the security of a specific asset. The person signing the ensure is personally liable if the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a registration of a security interest.
A caveat is a legal document lodged to provide notice of a legal claim to property.
If you’re requesting a Larger Business Loan that is greater than $250,000 we can offer an initial pre-approval in order to make the process. We could be able to get this done without credit checks and within 6 hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering some financial health checks. It is neither an offer nor a guarantee of credit. A conditional approval is subject an extensive credit evaluation and any offer that you receive could be subject to different terms.
You are eligible to apply for a company loan if you:
The application process is quick and simple. Just complete the online application within a couple minutes, and an experienced business loan specialist will contact you to guide you through the process.
To be eligible for up to $100,000, you’ll require the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank statements, IRD statements and the last two years’ finalised financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) we usually provide an answer in just one hour, provided you apply in quality company timings and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statement, we’ll offer an answer within an company day.
For Larger Business Loans ($100K up to $500,000) we may be able to provide you with conditional pre-approval within 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Certain offers have been approved in just 24 hours.
The quickest way to apply is to ensure you apply during standard business hours. You can also permit us to use the advanced bank verification system link to check your bank’s information online. If you upload documents from your account statement, it takes a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within an hour – provided you make your application during standard business timings and let us use the bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statements we can provide an answer in as little as one business day.
For Larger Business Loans ($100K or more) We may be in a position to provide you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Certain transactions have received approval 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 advanced bank verification system to check your bank’s information online. If you send us documents from your account accounts, it takes a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a specific amount we consider a variety of elements in order to assess the health of your business and the extent of repayments that your business can support. The amount you receive from your loan will depend on the specifics of your business.
When you make an application for a specific amount we will consider a number of factors to assess how much we can lend you such as health of the business and the extent of repayments that your business can support. The total amount of the loan will be determined by the particulars that are unique to your business.
When you make an application for our company loan, we’ll assess the risk assessment that you have for your business and offer you with a tailored offer, including loan amount, term and the interest rates. It is a company loan is an upfront cost loan and you’ll know in advance the total amount to be paid, including any costs, fees, or interest rates.
The interest rates on company loans rates depend on several factors such as the amount that is borrowed, what company assets the funds are used to purchase, the industry the company operates in, the long the business has been running for, whether the company has enough cash flow to support the loan, as well as the overall well-being and creditworthiness of the company.
There are no hidden costs with our company loans, and you’ll know exactly how much it is that you be required to pay and when, from day one. There’s no compounding interest, and no extra fees (as as long as you pay your payments on time).
We don’t charge an Application Fee. You can get a cash loan without any upfront costs or the obligation to take action.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back the total amount of your advance loan at any time.
If you do decide to do this please call our helpful business lending experts. They’ll offer you with details on repayment and an early payment figure. The figure will be calculated as the total of the remaining principal amount and the accrued interest up to the time of early payout in addition to 1.5 percent of the principal balance plus any outstanding fees.
To make sure you do not miss payments and to work with your cash flow cycle we provide payments that are either daily or weekly. They will be automatically deducted from the nominated business account.
Security of your data, and making it clear how we collect, use, exchange and ensure the security of your information is of huge importance and is an essential part of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We use an advanced bank verification system to instantly verify your bank account details online so we can offer a fast response.
Asset-based borrowing occurs when the business owner utilises an asset they own to get the funding. The asset may be an individual asset, such as the family home, or an business property like a truck or piece or equipment.
The majority of the lenders not just the largest banks, are inclined to guarantee loans against an asset. If you’re struggling to pay back the loan then your asset may be transferred to the lender. In essence, it’s the process of securing new financing by taking advantage of the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets in advance to gain access to the funds However, we do need an individual guarantee. If you adhere to your loan commitments (as detailed in your loan contract document) the security of assets will never be required. For loans over $150K generally there is a personal ensure and security that is in the form charges on assets.
