The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K business loan.
All that’s required for starting is your contact information (company name, your name, email and telephone) and the amount you want to borrow, and your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity but not before we can begin:
After we start in the process, for loans over $150,000 you’ll require fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
You can apply for this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and the money could be in your account within 24 hours. Traditional business loans have an interest rate per annum along with other charges and fees. Our business loan is a loan that is priced upfront and you’ll know in advance the total amount due, which includes any interest, fees or charges. This is then divided into a daily or weekly repayment figure.
The Small Business Loan can be used for virtually any company purpose including control of cash flow company remodels and marketing for purchasing inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
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 at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A larger company loan can be used to fund almost all business use, including company renovations, to purchase new equipment or inventory as well as for general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. This can be done by way of charge against assets, and may include registration in the PPSR or the registration of a caveat.
A personal or director’s ensure is a promise to repay a loan which is generally based rather than specifying security over an asset. The person who is signing the guarantee is personally accountable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including goods or assets). The PPSR grants preference over private property assigned according to the date the security interest that is registered.
An affidavit is an official form of document to offer notice of a legal claim to property.
If you’re requesting a Larger Business Loan of more than $250K we can offer an initial pre-approval that will help make the process. We might be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial well-being questions. This is in no way an offer, nor is it a guarantee of credit. A conditional approval is subject an exhaustive credit evaluation, and any offer you receive could be based on different terms.
You are eligible to apply for a company loan if you
The process for applying is fast and simple. Just fill out the online application in just a few minutes, and an experienced company expert in lending will contact you to guide you through the process.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, as well as interim financials for the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically offer an answer within an hour – as long as you apply in standard company time and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can offer a decision within just one business day.
For the Larger Business Loan ($100K and up) we could be in a position to offer you with conditional pre-approval in about 6 hours. After 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 specifics of each application. Certain deals have been approved within the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours and let us use the advanced bank verification system to instantly verify your bank account information online. If you choose to upload duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K and up) we can often offer an answer within an hour – provided you make your application at normal business time and allow us to use the advanced bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statements we can offer a decision within the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be capable of provide you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the circumstances of each application. Some offers have been approved in the space of 24 hours.
The most efficient method can be ensure you apply during standard business hours and permit us to use the advance bank verification to instantly verify your bank account information online. If you upload duplicates of your banking statements it may take a bit longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a certain amount we consider a variety of aspects to determine your health of the business and the extent of the repayments your company can support. The total amount of the loan will be determined by the particular circumstances that are unique to your company.
When you submit an application for a particular amount, we consider a variety of elements to assess how much we can lend you such as well-being for your company and the level of payments your company can support. The total amount of your loan will be contingent on the particulars the company.
If you decide to request the business loan, we will assess the risk profile for your company and offer you with a customised offer that includes the amount of the loan, the duration and the interest rates. This business loan is an upfront cost loan and you’ll be aware of the total amount payable including any interest rates, fees or charges.
Business loan interest rates differ based on various factors such as the amount that is borrowed, what business assets the funds are used to purchase, the industry the business is in, how long the company has been operating and what percentage of the business has sufficient cash flow to fund the loan, and the overall well-being as well as creditworthiness business.
There are no hidden fees for our business loans, and you’ll know precisely what you’ll be required to pay, and when, starting from the first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You are able to request a credit loan no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with setting up 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 percent of the amount of the loan.
You can choose to repay the entire amount of your loan early at any time.
If you choose to take this route, please talk to one of our helpful company loan professionals. We will offer you with details for repayment as well as an early payout amount. This is calculated as the total of the principal amount remaining plus any accrued interest as of the time of early payment and 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To make sure you do not miss repayments and to fit in with your cash flow cycle we provide repayments either weekly or daily. These are automatically withdrawn from the nominated company account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and ensure the security of your information is of paramount importance and is an essential aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We make use of an advanced bank verification system to immediately verify your bank account information online to provide a fast response.
Asset-based borrowing occurs when the business owner utilises an asset that they own to get the funds for a loan. The asset could be an asset belonging to the personal, like the family home or a company property like a truck or piece or equipment.
The majority of lenders, including the major banks, prefer to guarantee loans against an asset. If you have trouble paying back the loan, your assets could be sold by the lender. In essence, it’s an opportunity to secure additional financing using the value of what you already have.
For loans up to $150K the requirement for asset security is not required upfront to access the money but we require a personal guarantee. need an individual guarantee. So long as you comply with your loan commitments (as specified in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150K generally there is a personal guarantee and security in the form the charge of assets.
