The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Do you need more money? Take a look at the eligibility requirements for our $100K to $500K business financing.
All that’s required to start is your contact details (the name of your company, your name, email and phone) along with the amount you’d like to lend, and your monthly income.
In the course of the process and before settlement we will require confirmation of who you are, however, not in order to begin:
Once we’ve started with loans that exceed $150,000, you’ll require fundamental financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
Apply for your Small Business Loan in under 10 minutes on the internet or over the phone, receive an instant response and have the funds in your account within 24 hours. Traditional business loans are based on an annual interest rate together with additional fees and charges. This company loan is a loan that is priced upfront so you will know in advance the total amount to be paid, including any interest, fees or charges. Then, it is broken down into either weekly or daily payment amount.
It is a Small Business Loan can be used for nearly every company need, such as the management of cash flow, company remodels and marketing to purchase inventory, new equipment, as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To qualify for a loan in this amount, your business needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A large company loan can be used for almost every company need, including company renovations, purchase of inventory or new equipment, as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is required to access funding over $150,000. It is usually by way of charge against assets and can include registering this with the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee to pay back a loan that is generally based rather than stipulating security over an asset. The person who signs the ensure is personally accountable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be granted in accordance with the date on which a security interest was registered.
A caveat is a legal document filed to provide an official notice of a claim to a property.
If you’re requesting a Larger Business Loan that exceeds $250,000 we may be able to provide a preliminary pre-approval to help make the process. We might be able to apply for this without a credit verification and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves answering a couple of financial health checks. It is neither an offer nor a guarantee of funds. Unconditional approval is subject to an extensive credit evaluation and any offer that you receive could be on different terms.
You can apply for a company loan if you;
The application process is simple and easy. Complete the online form in just a few minutes, and a dedicated business loan specialist will be in touch to help you.
To apply for up $100,000, you’ll require identification details (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) We can usually provide an answer in just one hour, provided you make your application during quality company time and let us utilise the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements , we are able to offer an answer within just one business day.
For the Larger Business Loan ($100K or more) we may be likely to provide you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain transactions have received approval within the space of 24 hours.
The quickest method would be to make sure you apply during normal business hours and let us use the advance bank verification to instantly verify your bank account information online. If you decide to upload documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour – as long as you apply during standard business hours and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to send us copies of your bank statements, we are able to provide the decision within an business day.
For the Larger Business Loans ($100K or more) we may be capable of provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based on the specifics of each application. Some offers have been approved within just 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours and allow us to use the advanced bank verification system link to verify your bank account information online. If you send us copies of your bank statements it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a specific amount we look at a variety of aspects to determine the health that is your business and the extent of repayments your company is able to afford. The amount you receive from your loan will depend on the specifics of your company.
If you apply for a certain amount, we consider a variety of variables to assess the health of the company and the extent of the repayments your business can afford. The amount you receive from your loan will be determined by the specifics that are unique to your business.
If you decide to apply for our company financing, we’ll assess the risk profile for your business and provide you with a tailored offer that includes the amount of loan, the term and interest rates. A business loan is an upfront priced loan therefore you will know the exact amount due, which includes any charges or interest.
The interest rates on company loans rates vary due to factors including the amount that is borrowed, what business assets the funds are used to purchase, the industry the company is operating in, how long the business has been in operation as well as in the event that the business has enough cash flow to pay for the loan, and the overall health as well as creditworthiness business.
There aren’t any hidden charges for our company loans. You’ll know exactly how much you be required to pay and when, from day one. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to make an application for loans with no cost upfront or any obligation to sign up.
The Origination Fee covers the costs associated in establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can decide to repay the entire amount of the loan at any point in time.
If you choose to do this please speak to our friendly company lending experts. We will provide you with details for repayment and an early payout figure. This is calculated as the total of the principal amount remaining and accrued interest to the date of early payout and 1.5 percent of the principal amount remaining plus any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and making it clear how we collect, use, exchange and secure your information, is vital and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system to instantly confirm your bank account information online, allowing us to offer rapid response.
Asset-based borrowing occurs when an company owner borrows from assets they own to get the funding. The asset can be an individual asset, such as the family home or an company asset such as a vehicle or other piece of machinery.
The vast majority of lenders, including the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan then the asset might be transferred to the lender. In essence it’s an opportunity to secure new financing by using the value of what you already have.
For loans of up to $150K, no asset security is required in advance to gain access to the funds but we do need an individual guarantee. So long as you comply with the terms of your loan (as stipulated in your loan contract document) Asset security will never be required. If you take out loans in excess of $150K generally, there is the option of a personal guarantee and security is provided in the form of charges on assets.
