The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K company loans.
All you need to begin is your contact information (company name, your name, email, phone), how much you want to borrow, as well as your monthly income.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
Additionally after we get started when it comes to loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
Apply to get this Small Business Loan in under 10 minutes via the internet or over the phone, receive an immediate response, and have the funds available in just 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. Our business loan is a cash-based loan therefore you’ll be aware of the total amount to be paid, including any fees, interest or charges. This is then divided into a daily or weekly repayment figure.
The Small Business Loan can be used for virtually any business reason, such as managing cash flows, company renovations, marketing to purchase inventory or new equipment, for 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 business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly, depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
To be eligible for a credit of this size, your business needs to have been in operation for at least 3 years, and have an annual income of at least $700K. You must 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 of proving at minimum 12 months of business.
A Larger Business Loan is a great option for almost all company use, including company improvements, purchasing inventory or new equipment or as general working capital and much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. It is usually by taking a charge against assets, and could include the registration of this with the PPSR or filing as a caveat.
A director’s or personal ensure is a commitment to repay credit that is generally in nature rather than stating the security of a specific asset. The person signing the ensure is personally accountable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date a registration of a security interest.
Caveats are legal document lodged to provide an official notice of a claim against a property.
When you’re applying for a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval in order to simplify the process. We could be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial well-being questions. It is not an offer or guarantee of finance. Acceptance without condition is subject to a full credit assessment and any offer that you receive could be on different conditions.
You may be eligible for a company loan if you;
The process for applying is fast and simple. Simply complete the online form in few minutes and an experienced company lending specialist will call you to assist you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s Licence) along with 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 approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we typically provide an answer in just one hour, provided you apply at quality company time and permit us to utilise the bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements we can provide the decision in just an business day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide the conditional pre-approval within six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Some transactions have received approval in just 24 hours.
The most effective method is to make sure you apply during normal company hours. You can also allow us to use the advance bank verification link to instantly confirm your bank details online. If you opt to upload the copies of bank statements it can take a bit longer.
For the Small Business Loan ($5K or more) we typically provide an answer within one hour, provided you make your application in standard business time and you allow us to use the bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements we can offer a decision in just the span of one business day.
For Larger Business Loans ($100K and up) we may be capable of provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this can be faster depending on the particular circumstances of each application. Some deals have been approved within the space of 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours. You can also allow us to use our advance bank verification link to instantly check your bank’s information online. If you decide to send us documents from your account statement, it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a specific amount we consider a variety of variables for determining the well-being that is your company as well as the amount of repayments your company is able to afford. The amount you receive from your loan will be contingent on the specifics for your business.
When you apply for a specific amount we look at a range of elements to assess how much we can lend you such as health of the company and the extent of repayments that your business is able to afford. The amount you receive from your loan will depend on the particulars of your business.
When you make an application for our company credit, we’ll assess the risk profile of your business and provide you with a customised offer, including the amount of loan, the term and interest rates. This company loan is an upfront priced loan and you’ll be aware of the total amount due, which includes any charges or interest.
Interest rates for business loans rates vary due to variables like the amount to be of money borrowed, the company assets the funds are used to purchase, the industry the company is in, how long the company has been running and how long the business has enough cash flow to pay for the loan, and also the general well-being or creditworthiness of the company.
There are no hidden costs with our business loans. You’ll be aware of the amount you’ll need to pay, and when, from day one. There’s not any compounding interest and no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You are able to get a cash loan no cost upfront or obligation to proceed.
The Origination Fee is the cost associated with setting up and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you decide to pursue this option, please call our helpful company lending professionals. They will offer you with details on repayment and an early payment figure. This will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of early payment plus 1.5% of the principal remaining as well as any outstanding fees.
To help you avoid missing payments and to work your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically withdrawn from your designated company account.
Protecting your information, and knowing the ways we gather data, process, exchange and ensure the security of your information is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We employ a highly sophisticated banking verification system to instantly verify the bank account details online so we can offer a fast response.
Asset-based borrowing is when a company owner uses an asset they own to secure the loan. The asset may be a personal asset like the family home or an company asset such as a vehicle or other piece of machinery.
The majority of lending institutions, even the banks with the biggest size, prefer to make loans secured by assets. If you are having difficulty paying back the loan, the asset could be sold by the lender. In essence it is means of securing new financing by using the worth of the asset you already have.
For loans that exceed $150K, there is no requirement for asset security prior to the loan’s access however, we do require the personal guarantee. So long as you comply with your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans over $150K generally, you are able to get personal ensure and security that is in the form the charge of assets.
