The requirements for getting an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Take a look at the eligibility requirements for our $100K to $500K company loan.
All that is needed to start is your contact information (the name of your company, your name, email and telephone) as well as the amount you’d like to borrow, and your monthly earnings.
During the process and before settlement we’ll need 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 require 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.
Apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and have the funds on your account within 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. We offer a company loan is a loan that is priced upfront so you will know ahead of time the amount you will have to pay, including the interest, fees and charges. This is then divided into weekly or daily amount to be paid back.
A Small Business Loan can be used for nearly every business need, such as cash flow management, business improvements, advertising, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
A Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
In order to be eligible for a loan that is this large the business needs to be in operation for at least 3 years, and have an annual income of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large business loan can be used for almost every business use, including company renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan is not available for personal use.
Asset security is required for funding of more than $150,000. This can be done in the form of a charge against assets, and could include the registration of this in the PPSR or registering as a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is generally based rather than stating security over a particular asset. The person signing the guarantee is personally accountable if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR gives priority over personal property to be assigned depending on the date that a registration of a security interest.
Caveats are legal document lodged to provide notice of a legal claim on a property.
When you’re applying for an enterprise loan of more than $250,000 it is possible to offer an initial pre-approval to smooth out the process. We might be able to apply for this 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 questions. This is not an offer or guarantee of credit. A conditional approval is subject a full credit assessment and any offer you are offered could be based on different terms.
You may apply for an business loan if you;
The application process is quick and simple. Simply complete the online form in few minutes and a dedicated business credit specialist will call you to guide you through the process.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s License), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K or more) we can often provide an answer within one hour if you make your application during standard company hours and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statement, we’ll provide the decision in just 1 business day.
For the Larger Business Loan ($100K and up) we may be able to offer you with a conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved within less than 24 hours.
The quickest way to apply is to ensure you apply during standard company hours. You can also let us 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 can take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within one hour if you make your application at normal business times and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements, we are able to provide an answer within one business day.
For Larger Business Loans ($100K to $500K) We may be in a position to provide you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some deals have been approved in less than 24 hours.
The fastest method would be to ensure you apply during normal business hours and let us use the advanced bank verification system to check your bank’s information online. If you upload the copies of bank statements it can take a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a certain amount we will consider a number of aspects in order to assess how much we can lend you well-being for your business and the extent of repayments your business will be able to support. The amount you receive from the loan will be determined by the specifics for your company.
When you apply for a particular amount, we look at a range of elements to assess your well-being for your business and the amount of repayments your business can support. The total amount of your loan will be contingent on the specifics that are unique to your company.
If you decide to make an application for business loans with us business loan, we’ll assess the risk profile of your company and provide you with a customised offer including the amount of loan, the term and interest rates. The company loan is an upfront-priced loan and you’ll know in advance the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates differ based on various factors such as the amount that is of money borrowed, the business assets the funds will be used for and the sector the business is in, how long the business has been in operation for, whether the business has sufficient cash flow to cover the loan, and 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 it is that you need to pay and when, from the day you sign up. There’s no compounding interest and there are no additional charges (as as you make your payments punctually).
We don’t charge an application fee. You can make an application for loans absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the entire amount of your loan in full at any time.
If you do decide to take this route, please talk to one of our helpful business credit professionals. They will provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal balance and any accrued interest at the time of early payment, plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure that you don’t miss repayments and to fit in with your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and making it clear the ways we gather, use, exchange and safeguard your data, is vital and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard 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 immediately verify your bank account information online so we can offer a fast response.
An asset-based loan is when a business owner uses an asset they own to get a loan. The asset can be an asset belonging to the personal, like the family home, or a company asset like a truck or piece or equipment.
The vast majority of lenders, even the largest banks, are inclined to guarantee loans against an asset. If you’re having trouble paying back the loan, your assets could be sold by the lender. In essence it is an opportunity to secure additional financing making use of the value of what you already own.
Up to $150K in loans no asset security is required in advance to gain access to the funds however, we do require a personal guarantee. If you adhere to your loan commitments (as stipulated in your loan contract document) the security of assets will never be needed. If you take out loans in excess of $150K generally, you can get personal guarantee and security is provided in the form of the charge of assets.
