The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Do you require more money? Check out the guidelines for eligibility for our $100K-$500K business financing.
All you need to get started is your contact information (company name, your name, email address and phone) and the amount you’d like to borrow and your monthly revenue.
During the process and before settlement we’ll require confirmation of your identity but not before we can begin:
In addition, once we have started, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and the money could be available in just 24 hours. Traditional company loans reference an interest rate per annum plus other fees and charges. The business loan is a pre-paid loan and you’ll be aware of the total amount due, which includes the interest, fees and charges. This is then divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used to fulfill almost any business use, including the management of cash flow, business renovations, marketing to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan in this amount, your company needs to have been operating for a minimum of 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger business loan can be used for almost any business purpose including company improvements, purchasing inventory or new equipment or as general working capital and so much more. The loan is not available for personal use.
Asset security is necessary to access funding over $150,000. It’s by way of charge on assets, which could also include registering this through the PPSR or making a caveat.
A personal or director’s ensure is a promise to repay a loan which is generally based rather than stating the security of a specific asset. The person who signs the ensure is personally responsible if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register run 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 prioritisation over property that is personal to be granted in accordance with the date on which a registration of a security interest.
A caveat is a legal document lodged to offer an official notice of a claim to a property.
If you’re applying for larger business loans of $250K or more we can offer a preliminary pre-approval to help make the process. We might be able to make this decision without a credit check and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial health questions. It is neither an offer nor a guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer you might receive could have different terms.
You may apply for an business loan if you
The application process is simple and easy. Just complete the online application within a few minutes and a dedicated business loan specialist will call you to guide you through the process.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s Licence) and a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) we can often provide an answer within one hour, provided you make your application at standard business hours and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your bank statements we can offer a decision in as little as one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be likely to provide you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved in 24 hours.
The quickest way to apply can be ensure you apply during normal company hours. Also, permit us to use the modern bank verification to instantly verify your bank account information online. If you opt to send us documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within one hour – as long as you make your application at normal business time and permit us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statements we can offer an answer within an business day.
For the Larger Business Loans ($100K to $500K) we may be likely to provide the conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based upon the circumstances for each application. Certain transactions have received approval within the space of 24 hours.
The most efficient method would be to make sure you apply during normal business hours and allow us to use our advance bank verification link to instantly confirm your bank details online. If you choose to send us documents from your account statements, it may take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a particular amount, we look at a variety of aspects to determine the health for your company and the level of payments your business can afford. The total amount of your loan will depend on the particular circumstances of your business.
When you submit an application for a specific amount we consider a variety of elements to assess the health of your business and the amount of the repayments your company can support. The amount you receive from your loan will be determined by the particular circumstances the company.
When you make an application for our company credit, we’ll assess the risk assessment of your company and provide you with a tailored offer, including the amount of loan, the term and interest rates. The business loan is a loan that is priced upfront therefore you will know in advance the total amount to be paid, including any costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of variables like the amount to be borrowed, what company assets the money will be used for in addition to the industry that the company is in, how long the company is in operation and in the event that the business has sufficient cash flow to fund the loan, and overall well-being or creditworthiness of the business.
There are no hidden fees for our business loans. You’ll know precisely how much it is that you be required to pay and when, starting from the very first day. There’s no compounding and no extra fees (as as long as you pay your payments in time).
We do not charge an application fee. You can get a cash loan no cost upfront or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can decide to repay the entire amount of the advance loan at any time.
If you decide to do this please talk to one of our helpful company loan professionals. They will offer you with the details of your repayment and an early payment figure. This is calculated as the total of the principal remaining and any accrued interest at the time of early payment plus 1.5 percent of the principal amount remaining plus any outstanding fees.
To make sure you do not miss repayments and to fit in your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
The security of your personal information, as well as knowing how we collect the information we collect, use, share and secure your information, is of paramount importance and an integral part of our relationship with you.
Yes. We employ industry-recognised 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 security. We utilise a sophisticated banking verification system to instantly confirm your bank account information online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where a business owner utilises assets they own to get the funding. The asset can be either an asset belonging to the personal, like the family home, or an business asset such as a vehicle or piece or equipment.
The vast majority of lending institutions, not just the big banks, tend to secure loans against an asset. If you’re having trouble paying back the loan, the asset could be transferred to the lender. In essence it’s an opportunity to secure additional financing using the worth of the asset you already have.
Up to $150K in loans the requirement for asset security is not required upfront to access the money but we do need a personal guarantee. So long as you comply with the terms of your loan (as stipulated in your loan contract document) the security of assets will never be needed. For loans that exceed $150,000, typically, you will need the option of a personal guarantee and security in the form of an asset charge.
