The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K to $500K business loans.
All that is needed for starting is your contact information (the name of your company, your name, email, phone) and the amount you want to borrow, and your monthly revenue.
In the course of the process and before settlement we’ll require confirmation of who you are, but not to get started:
In addition, once we have started in the process, for loans over $150,000 you’ll need fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an instant response and have the funds available in just 24 hours. Traditional business loans reference an annual rate of interest as well as other fees and charges. The business loan is a cash-based loan which means you know in advance the total amount to be paid, including any fees, interest or charges. This is then broken down into a daily or weekly installment amount.
A Small Business Loan can be used for nearly every company need, such as managing cash flows, company remodels and marketing to purchase inventory, new equipment, to fund general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a loan that is this large, your company needs to be trading for at least 3 years and generate an annual revenue of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan can be used for nearly every company need, including company renovations, purchase of new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. This can be done by way of charge on assets, and may include registering this on the PPSR or filing a caveat.
A director’s or personal ensure is a promise to repay credit that is generally in nature rather than specifying the security of a specific asset. The person who is signing the ensure is personally liable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including the assets or goods). The PPSR grants priority over personal property to be granted according to the date a security interest was registered.
Caveats are legal document that is filed to provide the legal claim on a property.
If you’re applying for larger company loans of $250K or more we may be able to provide an initial pre-approval in order to make the process. We may be able to do this without a credit verification and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes you answering some financial well-being checks. It’s not an offer or guarantee of financing. Unconditional approval is subject to an extensive credit evaluation and any offer that you might receive could be subject to different terms.
You can apply for an business loan if you:
The process for applying is fast and easy. Complete the online form within a couple minutes, and an experienced company credit specialist will call you to assist you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank statements, IRD statement, last 2 years finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we typically offer an answer within one hour if you make your application at standard company timings and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your bank statements we can provide a decision in just one company day.
For the Larger Business Loan ($100K and up) we might be likely to provide you with pre-approval conditional to your application in about six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be quicker based on the specifics of each application. Some transactions have received approval within 24 hours.
The fastest way can be ensure you apply during normal company hours and let us use the advance bank verification link to instantly confirm your bank details online. If you choose to upload the copies of bank statements it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide a response in one hour, provided you apply at normal business hours and allow us to use the bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements, we are able to offer the decision in just one business day.
For Larger Business Loans ($100K to $500K) we might be likely to offer you with a conditional pre-approval within 6 hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this may be quicker depending on the specifics of each application. Certain offers have been approved within the space of 24 hours.
The most effective method is to ensure you apply during normal business hours. You can also let us use the modern bank verification to verify your bank information online. If you upload duplicates of your banking statements, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount we look at a variety of factors to determine how much we can lend you well-being of the company and the extent of the repayments your business is able to afford. The amount you receive from the loan will be determined by the particular circumstances the business.
When you submit an application for a specific amount we look at a range of factors to determine how much we can lend you such as health that is your company and the extent of payments your company is able to afford. The total amount of the loan will be determined by the specific circumstances for your business.
When you request the business financing, we’ll assess the risk profile the company and provide you with a customised offer, including the amount of loan, the term and interest rates. A business loan is an upfront priced loan so you will be aware in advance of the total amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates depend on several factors like the amount of money borrowed, the business assets the funds are used to purchase in addition to the industry that the company is in, how long the company has been operating as well as in the event that the company has sufficient cash flow to cover the loan, and general well-being or creditworthiness of the company.
There are no hidden costs with our business loans. You’ll know exactly how much it is that you be required to pay, and when, right from the day you sign up. There’s no compounding interest, and the loan comes with no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You are able to apply for a loan with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can decide to repay all of your advance loan at any time.
If you choose to do this please contact our helpful business loan specialists. The professionals will provide you with details on repayment and an early payment figure. The figure will be calculated as the total of the principal balance and any accrued interest at the date of early payout, plus 1.5% of the principal balance and any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow standard, we provide repayments either weekly or daily. These are automatically deducted from your designated business account.
The security of your personal information, as well as being transparent about how we collect data, process, exchange and ensure the security of your information is of huge importance and an integral aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online. This allows us to provide a fast response.
Asset-based borrowing is when an business owner utilises assets they own to obtain the funding. The asset may be an individual property, such as the family home or a business property like a truck or piece or equipment.
The vast majority of banks, not just the major banks, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence, it is means of securing new funding making use of the value of what you already have.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money, however we do need an individual guarantee. If you adhere to your loan commitments (as stipulated in your loan contract document) the security of assets will never be required. For loans of over $150K typically, you will need the option of a personal ensure and security in the form the charge of assets.
