The criteria for eligibility for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K company credit.
All that’s required for starting is your contact details (company name, your name, email address and phone), how much you’d like to borrow and your monthly earnings.
During the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
Additionally after we get started, for loans that exceed $150,000, you’ll also require the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and funds may be available in just 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. Our business loan is a pre-paid loan so you will be aware in advance of the total amount due, which includes the interest, fees and charges. Then, it is divided into weekly or daily payment amount.
A Small Business Loan can be used for virtually any company use, including cash flow management, company remodels and marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans range from $100,000 to $500,000 with a term fixed up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
To qualify for a loan in this amount, your company needs to be in operation for at least 3 years and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Larger Business Loan can be used to fund almost every business use, including company renovations, to purchase equipment or inventory, as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required to obtain funding above $150,000. This can be done by way of charge over assets, and could include the registration of this on the PPSR or making a caveat.
A personal or director’s guarantee is a promise to repay a loan which is generally in nature rather than stating the security for a particular asset. The person who signs the ensure is personally accountable if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR permits priority over personal property to be granted depending on the date that a security interest that is registered.
An affidavit is an official document filed to provide the public notice of a legal claim on a property.
If you’re seeking the Larger Business Loan that is greater than $250,000, we may offer an initial pre-approval in order to smooth out the process. It is possible to do this without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial health checks. This is neither an offer nor a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be based on different conditions.
You are eligible to apply for a company loan if you
The application process is fast and simple. Just complete the online application in just a few minutes, and a dedicated business credit specialist will call you to help you.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also 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: Information on the application including credit consent twelve month bank accounts, the IRD statements as well as the two most recent years’ financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) we can often offer a response in one hour – as long as you apply within standard business time and permit us to use the advanced bank verification system link to instantly verify your bank information online. If you want to upload copies of your banking statements we can offer a decision within just the span of one company day.
For Larger Business Loans ($100K and up) we may be able to offer the conditional pre-approval in around six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Some offers have been approved in 24 hours.
The quickest method for you to apply is make sure you apply during standard company hours. You can also allow us to use our advance bank verification to verify your bank information online. If you choose to send us documents from your account statements it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide a response in one hour – as long as you submit your request in normal business times and allow us to use the bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to offer an answer in as little as 1 business day.
If you are applying for Larger Business Loans ($100K or more) we could be capable of offer you with conditional pre-approval within about six 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 on the particular circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest method would be to ensure you apply during normal business hours. You can also let us use the advance bank verification link to instantly verify your bank account information online. If you choose to upload duplicates of your banking statement, it may 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 variables for determining the health of your company and the level of the repayments your business can afford. The total amount of your loan will depend on the specifics the company.
When you submit an application for a particular amount, we take into consideration a variety of elements to determine how much we can lend you such as health for your business and the extent of repayments that your business is able to afford. The amount you receive from your loan will be determined by the particular circumstances for your company.
If you decide to make an application for one of our company loans, we will assess the risk profile of your company and provide you with a customised proposal that includes loan amount, term and interest rates. It is a business loan is a loan that is priced upfront therefore you will know in advance the total amount you will have to pay, including charges or interest.
Interest rates for company loans rates vary due to factors including the amount that is borrowed, what company assets the funds will be used for, the industry the business operates in, how long the business has been running for, whether the business has enough cash flow to support the loan, as well as the overall well-being or creditworthiness of the company.
There are no hidden fees for our business loans. You’ll know exactly how much you need to pay, and when, right from the very first day. There’s not any compounding interest and no extra fees (as long as you are able to make your payments punctually).
We do not charge an application fee. You can get a cash loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can repay the entire amount of the loan early at any time.
If you are deciding to pursue this option, please speak to our friendly company lending professionals. They’ll provide you with repayment details and an early payment figure. The figure will be calculated as the sum of the remaining principal amount and accrued interest to the time of early payment, plus 1.5% of the remaining principal and any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow cycle we offer repayments either daily or weekly. They are automatically deducted from the nominated business account.
Making sure that your information is secure, and being clear about the ways we gather, use, exchange and protect your information, is crucial and is an essential aspect 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 dedication to protecting the security of customers and security. We use an advanced bank verification system to instantly verify your bank account details online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where an business owner borrows from an asset that they own to make the funds for a loan. The asset can be either an individual property, such as the family home or a business property like a truck or other piece of machinery.
The vast majority of lenders, including the banks with the biggest size, prefer to secure loans against assets. If you’re struggling to pay back the loan, then your asset may be taken over by the lender. In essence it’s an opportunity to secure new financing using the worth of the asset you already have.
Up to $150,000 in loans there is no requirement for asset security in advance to gain access to the funds, however we do need an individual guarantee. As long as you follow your loan commitments (as specified in your loan contract) Asset security is not needed. If you take out loans in excess of $150,000 generally, you can get an individual guarantee and security in the form charges on assets.
