The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business credit.
All that is needed for starting is your contact information (the name of your company, your name, email and telephone) along with the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will need confirmation of your identity but not before we can begin:
Additionally after we get started, for loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments that 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 immediate response, and the money could be available in just 24 hours. Traditional company loans have an annual rate of interest along with other charges and fees. The company loan is a pre-paid loan and you’ll be aware in advance of the total amount payable including the interest, fees and charges. This is then broken down into a daily or weekly installment amount.
The Small Business Loan can be used for almost any company need, such as managing cash flows, company improvements, advertising to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company 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 depending on your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan in this amount, your company needs to be in operation for at least 3 years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used for almost every company need, including company improvements, purchasing equipment or inventory or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required for funding of more than $150,000. It is usually by taking a charge against assets, and could include the registration of this through the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally based rather than stating the security for a particular asset. The person who signs the guarantee is personally liable if the business 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 records security interests that have been which are registered with respect to personal property (including the assets or goods). The PPSR allows priority over personal property to be assigned according to the date the registration of a security interest.
A caveat is a legal document that is filed to offer notice of a legal claim against a property.
If you’re seeking larger business loans of $250,000 or more we may be able to provide an initial pre-approval in order to smooth out the process. We may be able to apply for this without credit checks and within six hours of your initial application. The pre-approval is based upon a preliminary assessment which includes the answer to a series of financial health questions. This is neither an offer nor a guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer you are offered could be subject to different terms.
You may apply for a company loan if you;
The process for applying is fast and easy. Just fill out the online application in few minutes and a dedicated business lending specialist will call you to assist you.
For a loan of up to $100,000, you’ll require the right identification documents (valid Driver’s Licence), 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: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Information on the application including credit consent twelve months bank statement, an IRD statements as well as the two most recent years’ financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually offer a response in one hour, provided you submit your request in standard company times and allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statement, we’ll offer the decision in as little as an company day.
For the Larger Business Loan ($100K up to $500,000) we could be likely to provide the conditional pre-approval in around six hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Certain transactions have received approval within less than 24 hours.
The most efficient method is to make sure you apply during standard company hours. You can also allow us to use the advanced bank verification system link to instantly verify your bank account information online. If you decide to upload copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide a response in one hour – as long as you make your application within normal business times and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statements, we are able to offer an answer in just one business day.
For Larger Business Loans ($100K to $500K) we could be capable of provide you with a conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the specifics of each application. Some deals have been approved within less than 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours, and allow us to use our advance bank verification to verify your bank information online. If you choose to upload the copies of bank accounts, it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a certain amount we consider a variety of factors for determining how much we can lend you health of the business and the level of the repayments your business can support. The amount you receive from your loan will depend on the particular circumstances that are unique to your company.
If you apply for a particular amount, we look at a range of elements to determine how much we can lend you such as well-being that is your company and the extent of repayments that your company can support. The amount you receive from your loan will depend on the specifics the company.
When you apply for one of our business loans, we’ll assess the risk profile the business and provide you with a tailored offer, including loan amount, term and interest rates. This company loan is an upfront priced loan therefore you will be aware in advance of the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on a variety of factors like the amount of money of money borrowed, the business assets the money are used to purchase in addition to the industry that the business is operating in, how long the company has been operating and how long the business has enough cash flow to support the loan, and general well-being and creditworthiness of the company.
There are no hidden fees for our business loans. You’ll be aware of the amount you’ll be required to pay, and at what time, from the first day. There’s no compounding interest and no additional fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You can get a cash loan with without any upfront costs or commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the total amount of your advance loan at any time.
If you choose to pursue this option, please speak to our friendly company loan professionals. They will provide you with details for repayment and an early payment figure. It will be calculated using the total of the remaining principal amount and any accrued interest at the time of the early payout and 1.5% of the principal remaining plus any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your designated business account.
Security of your data, and being transparent about how we collect information, use it, and exchange it, as well as secure your information, is of huge importance and an integral element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their privacy. We employ an exceptionally sophisticated bank verification system to instantly verify the bank account details online to offer rapid response.
The term "asset-based" refers to borrowing where the company owner makes use of assets they own to make a loan. The asset could be an individual asset, such as the family home or an company property like a truck or other piece of machinery.
The majority of lenders, including the big banks, tend to secure loans against assets. If you’re having trouble paying back the loan then your assets could be sold by the lender. In essence it is the process of securing new financing using the worth of the asset you already own.
For loans of up to $150K, no asset security is required upfront to access the money however, we require a personal guarantee. need a personal guarantee. As long as you follow your loan commitments (as stated in your loan contract document) Asset security is not required. If you take out loans in excess of $150K typically, you will need the option of a personal ensure and security in the form of an asset charge.
