The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Review the guidelines for eligibility for our $100K to $500K business loan.
All you need to start is your contact information (the name of your company, your name, email and telephone) and the amount you’d like to borrow as well as your monthly income.
Through the process and before settlement we will require confirmation of who you are but not to get started:
Once we’ve started in the process, for loans over $150,000 you will also need basic financial statements.
Let’s get started now.
Sydney unsecured loans offers amounts 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.
You can apply for your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and have the funds in your account in 24 hours. Traditional company loans are based on an annual rate of interest along with other charges and fees. The company loan is a cash-based loan and you’ll know ahead of time the total amount payable including the interest, fees and charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually any company reason, such as managing cash flows, company remodels and marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on the flow of cash.
A Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
To be eligible for a loan that is this large, your business needs to be operating for at least three years and generate an annual revenue of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large company loan can be used to fund almost any business reason, such as company renovations, to purchase equipment or inventory, as general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed to obtain funding above $150,000. This can be done in the form of a charge against assets and can be registered with the PPSR or making as a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is general in nature, rather than defining security over an asset. The person who is signing the guarantee is personally responsible if the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR permits preference over private property assigned depending on the date that a registration of a security interest.
The caveat can be described as a formal form of document to offer an official notice of a claim on a property.
If you’re applying for an enterprise loan that exceeds $250,000 we may be able to provide an initial pre-approval that will help simplify the process. It is possible to get this done without credit checks and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial well-being questions. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an extensive credit evaluation and any offer you receive could have different terms.
You may be eligible for an business loan if you
The application process is quick and easy. Simply complete the online form in just a few minutes, and a dedicated company expert in lending will be in touch to help you.
To apply for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Information on the application including credit consent and 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we typically offer a response in one hour, provided you submit your request during standard company timings and permit us to utilise the bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statements we can offer an answer within just one company day.
For the Larger Business Loan ($100K up to $500,000) we could be able to offer you with a conditional pre-approval within about 6 hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be quicker based upon the circumstances for each application. Certain deals have been approved within 24 hours.
The quickest way to apply is to ensure you apply during standard business hours and allow us to use the modern bank verification link to check your bank’s information online. If you send us copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within one hour, provided you make your application in normal business time and let us utilise the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your banking statement, we’ll offer a decision in just 1 business day.
If you are applying for Larger Business Loans ($100K and up) we may be able to offer you with pre-approval conditional to your application within 6 hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based upon the circumstances for each application. Certain transactions have received approval in just 24 hours.
The fastest method can be make sure you apply during normal business hours, and let us use the modern bank verification link to instantly check your bank’s information online. If you send us copies of your bank statements it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we take into consideration a range of variables to determine how much we can lend you well-being of your company and the amount of the repayments your company can afford. The total amount of the loan will be determined by the particular circumstances the business.
If you apply for a certain amount, we take into consideration a variety of variables to determine the well-being of the business and the extent of the repayments your business is able to afford. The amount you receive from your loan will be contingent on the specifics for your business.
If you decide to apply for the company loans, we will assess the risk profile of your company and provide an individualised offer, including the loan amount, the terms and the interest rates. The business loan is an upfront-priced loan which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
Interest rates for company loans rates depend on a variety of factors such as the amount that is borrowed, the company assets the funds will be used for as well as the field the business is in, how long the business has been running for, in the event that the company has sufficient cash flow to fund the loan, and the overall well-being and creditworthiness of the business.
There are no hidden fees with our company loans. You’ll know exactly how much you’ll need to pay, and when, starting from the very first day. There’s no 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 apply for a loan with with no upfront cost or commitment to apply.
The Origination Fee is the cost associated in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay the total amount of your loan at any point in time.
If you choose to do this please talk to one of our helpful company lending experts. They’ll provide you with the details of your repayment and an early payout figure. This is calculated as the total of the principal remaining and any accrued interest at the time of early payout and 1.5% of the principal remaining and any fees that remain unpaid.
To help you avoid missing payments and to work with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from the nominated company account.
The security of your personal information, as well as making it clear the ways we gather the information we collect, use, share and ensure the security of your information is of paramount importance and is a crucial element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We make use of an advanced banking verification system to instantly verify the bank account details online, allowing us to provide quick responses.
Asset-based borrowing occurs when the company owner uses an asset they own to obtain the funding. The asset could be an individual property, such as the family home, or an company asset such as a vehicle or other piece of machinery.
The vast majority of banks, not just the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan then your asset may be transferred to the lender. In essence, it is an opportunity to secure new financing using the worth of the asset you already own.
For loans of up to $150,000, there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. need the personal guarantee. So long as you comply with the loan terms (as stated in the loan contract) Asset security will never be needed. For loans that exceed $150,000, generally, you are able to get a personal guarantee and security in the form a charge over assets.
