The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Review the eligibility requirements for our $100K-$500K business loans.
All that is needed to start is your contact information (company name, your name, email and telephone) along with the amount you’d like to lend, and your monthly earnings.
Through the process and before settlement we’ll need confirmation of who you are, but not to get started:
Once we’ve started, for loans greater than $150,000 you’ll also require fundamental financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and have the funds in your account in 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the total amount payable including the interest, fees and charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for nearly every business reason, such as the management of cash flow, business improvements, advertising 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 size loan to aid in business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To be eligible for a loan that is this large the business needs to be operating for at least three years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A larger business loan can be used for nearly every company reason, such as business remodeling, buying inventory or new equipment, as general working capital and much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. This is by taking a charge on assets, and could include registering this with the PPSR or filing a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is generally in nature rather than stipulating security over an asset. The person who signs the guarantee is personally responsible if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR gives preference over private property granted according to the date the security interest was registered.
Caveats are legal form of document to offer the legal claim to a property.
When you’re applying for an enterprise loan that exceeds $250,000, we may offer an initial pre-approval in order to ease the process. We could be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering a few financial health checks. This is not an offer or guarantee of financing. Unconditional approval is subject to an extensive credit evaluation and any offer that you receive could be subject to different conditions.
You are eligible to apply for an business loan if you
The application process is fast and easy. Simply complete the online form within a few minutes and an experienced business expert in lending will call you to guide you.
To apply for up $100,000 you’ll require ID details (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Application details including credit consent as well as 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K or more) we typically offer an answer in just one hour if you apply at standard company hours and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to submit copies of your bank statement, we’ll provide a decision within just one business day.
For the Larger Business Loan ($100K up to $500,000) we could be able to offer the conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be quicker based on the specifics of each application. Certain offers have been approved within just 24 hours.
The quickest way to apply would be to make sure you apply during normal business hours. Also, allow us to use our advanced bank verification system link to verify your bank information online. If you opt to upload duplicates of your banking accounts, it will take a little longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour – provided you submit your request during standard business hours and allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your bank statements, we’ll be able to provide a decision in just the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we could be able to offer you with conditional pre-approval within six hours. Once you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain offers have been approved in 24 hours.
The most efficient method would be to ensure you apply during normal business hours, and allow us to use the sophisticated bank verification to instantly check your bank’s information online. If you opt to send us documents from your account statement, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a certain amount we will consider a number of aspects for determining your health for your company and the amount of repayments that your business can afford. The amount you receive from the loan will be determined by the specifics of your company.
When you make an application for a set amount, we will consider a number of variables to determine your well-being that is your business as well as the amount of repayments that your company is able to afford. The total amount of your loan will be determined by the specific circumstances that are unique to your business.
When you request one of our business loans, we will assess the risk profile of your business and provide you with a tailored offer, including the loan amount, the terms and interest rates. A company loan is an upfront cost loan and you’ll know the exact amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates differ based on various factors including the amount that is borrowed, what company assets the money will be used for, the industry the company operates in, the long the business is in operation, in the event that the business has sufficient cash flow to support the loan, and overall health as well as creditworthiness company.
There aren’t any hidden charges with our company loans. You’ll know precisely how much you’ll need to pay, and when, right from the first day. There’s no compounding interest and there are no additional charges (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You are able to get a cash loan with no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. The only way to pay this fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can repay the total amount of your loan in full at any time.
If you are deciding to do this please speak to our friendly business credit experts. The experts will provide you with details on repayment and an early payment figure. This is calculated as the sum of the principal remaining and accrued interest to the time of early payment and 1.5 percent of the principal amount remaining as well as any outstanding fees.
To ensure that you don’t miss payments and to work with your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from the nominated business account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and is an essential aspect of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We utilise a sophisticated bank verification system to instantly confirm your bank account information online, allowing us to provide quick responses.
An asset-based loan is when a business owner utilises an asset they own to make the funding. The asset may be an individual asset, such as the family home, or it could be a company asset such as a truck as well as a piece of machine.
The majority of lending institutions, not just the big banks, tend to secure loans against assets. If you are having difficulty paying back the loan then your asset may be taken over by the lender. In essence it’s an opportunity to secure additional financing using the worth of the asset you already have.
For loans up to $150,000 the requirement for asset security is not required in advance to gain access to the funds but we require a personal guarantee. require the personal guarantee. In the event that you fulfill your loan commitments (as detailed in the loan contract) Asset security is not required. For loans over $150,000 generally, there is an individual ensure and security in the form an asset charge.
