The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Find out the eligibility requirements for our $100K-$500K business loans.
All that’s needed for starting is your contact details (company name, your name, email, phone) and the amount you’d like to borrow, and your monthly income.
While in the process and before settlement we will require confirmation of your identity but not before we can begin:
Once we’ve started, for loans over $150,000 you’ll require basic financial statements:
Let’s get started now.
Sydney unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to get this Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and have the funds in your account within 24 hours. Traditional company loans are based on an annual rate of interest along with other charges and fees. This business loan is a loan that is priced upfront so you will be aware in advance of the total amount payable including the interest, fees and charges. Then, it is broken down into weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost any business use, including managing cash flows, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly to work with your situation.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to be operating for a minimum of 3 years and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A large company loan can be used for nearly every company need, including business improvements, purchasing inventory or new equipment or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for funding of more than $150,000. It’s as a result of an charge over assets, and could include the registration of this with the PPSR or making as a caveat.
A personal or director’s guarantee is a promise to repay a loan which is generally based rather than specifying security over a particular asset. The person who is signing the ensure is personally liable in the event that the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR allows prioritisation over property that is personal to be assigned depending on the date that a registration of a security interest.
Caveats are legal document that is filed to provide the legal claim against a property.
If you’re requesting the Larger Business Loan of $250,000 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 verification and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial health checks. It is not an offer of credit or guarantee of finance. Acceptance without condition is subject to a full credit assessment and any offer that you receive could have different terms.
You are eligible to apply for an company loan if you
The process for applying is fast and simple. Simply complete the online form within a few minutes and a dedicated business loan specialist will be in touch to assist you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank records, IRD statements as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often provide an answer within one hour if you submit your request in quality company time and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statement, we’ll provide a decision within just the span of one business day.
For Larger Business Loans ($100K up to $500,000) we might be able to provide you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, it could be faster based upon the circumstances for each application. Some offers have been approved in the space of 24 hours.
The most effective method can be make sure you apply during normal company hours and allow us to use the modern bank verification link to verify your bank information online. If you decide to upload documents from your account statement, it takes a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer in just one hour – provided you make your application in normal business times and let us utilise the advanced bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your bank statements, we’ll be able to offer the decision in just an business day.
For Larger Business Loans ($100K or more) we might be able to provide you with a conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain agreements have been approved within less than 24 hours.
The fastest method is to make sure you apply during standard business hours. You can also allow us to use our advance bank verification to instantly verify your bank account information online. If you decide to send us duplicates of your banking statements, it will take a little 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 elements in order to assess what is the health for your business and the level of the repayments your company will be able to support. The amount you receive from your loan will depend on the particular circumstances for your business.
When you apply for a specific amount we will consider a number of variables to determine the health for your company and the extent of repayments your company will be able to support. The total amount of your loan will depend on the specific circumstances for your business.
If you decide to apply for the company loans, we’ll assess the risk profile the business and offer an individualised proposal that includes the loan amount, the terms and the interest rates. A business loan is a loan that is priced upfront so you will know the exact amount to be paid, including any charges, interest rates or fees.
The interest rates on business loans rates vary due to factors such as the amount that is of money borrowed, the company assets the money will be used for and the sector the business operates in, how long the company has been operating, how long the business has sufficient cash flow to cover the loan, and also the overall well-being and creditworthiness of the business.
There are no hidden costs for our company loans, and you’ll know exactly how much you be required to pay, and when, right from day one. There’s no compounding and no extra fees (as as you make your payments in time).
We do not charge an application fee. You are able to make an application for loans with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You can repay the entire amount of the loan in full at any time.
If you choose to pursue this option, please contact our helpful business lending experts. We will provide you with details on repayment and an early payment figure. This is calculated as the total of the principal remaining plus any accrued interest as of the date of early payout, plus 1.5 percent of the principal balance plus any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow cycle we provide repayments either daily or weekly. They will be automatically deducted from your designated business account.
Protecting your information, and being transparent about how we collect, use, exchange and ensure the security of your information is of paramount importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We employ an exceptionally sophisticated banking verification system to instantly verify your bank account details online, allowing us to provide quick responses.
An asset-based loan is when a business owner utilises an asset that they own to secure 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 majority of banks, not just the banks with the biggest size, prefer to secure loans against assets. If you have trouble paying back the loan, the asset could be transferred to the lender. In essence it is a way of securing new financing by making use of the value of what you already own.
For loans up to $150,000 there is no requirement for asset security in advance to gain access to the funds However, we do need a personal guarantee. As long as you follow the terms of your loan (as specified in your loan contract) the security of assets is not needed. For loans that exceed $150,000, generally, you are able to get a personal guarantee and security in the form of an asset charge.
