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 conditions of eligibility for our $100K-$500K business credit.
All that is needed for starting is your contact information (company name, your name, email address, phone) and the amount you’d like to borrow as well as your monthly income.
While in the process and before settlement we’ll require confirmation of your identity, but not to get started:
Once we’ve started when it comes to loans greater than $150,000 you will also need basic financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and have the funds on your account within 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. The company loan is a loan that is priced upfront so you will be aware of the total amount due, which includes any fees, interest or charges. This is then broken down into either weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost any business need, such as the management of cash flow, company renovations, marketing to purchase inventory, new equipment, for general working capital and much more. The loan cannot be used 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 over a fixed term up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To qualify for a loan that is this large, your business needs to have been trading for at least 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A larger company loan can be used for almost all company use, including business remodeling, buying equipment or inventory, as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to access funding over $150,000. It’s in the form of a charge on assets, and could include the registration of this on the PPSR or filing as a caveat.
A personal or director’s ensure is a guarantee to pay off a credit line that is generally in nature rather than stipulating the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR permits preference over private property granted according to the date a security interest that is registered.
An affidavit is an official document filed to offer the public notice of a legal claim against a property.
If you’re requesting an enterprise loan that exceeds $250K we can offer an initial pre-approval that will help make the process. We may be able to apply for this without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial health questions. It is not an offer of credit or guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer you are offered could be on different terms.
You are eligible to apply for an company loan if you:
The process for applying is fast and easy. Simply complete the online form within a couple minutes, and a dedicated company credit specialist will be in touch to help you.
To apply for up $100,000 you’ll require ID details (valid Driver’s License), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Application details including credit consent and 12 months of bank statements, IRD statement, last 2 years finalised financial statements, plus interim current financial year financials as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) We can usually offer an answer within one hour, provided you submit your request in standard company hours and let us utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statement, we’ll offer an answer within one company day.
For Larger Business Loans ($100K to $500K) we may be able to provide you with a conditional pre-approval within six hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved within less than 24 hours.
The most effective method would be to ensure you apply during normal company hours and let us use the modern bank verification link to instantly verify your bank account information online. If you send us documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) we typically offer an answer within one hour if you make your application during standard business hours and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can offer an answer in just 1 business day.
For the Larger Business Loans ($100K and up) we could be likely to offer the conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some transactions have received approval within just 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours and let us use the sophisticated bank verification to verify your bank account information online. If you choose to send us copies of your bank accounts, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a specific amount we look at a variety of variables to determine your health of your company and the level of payments your company can afford. The amount you receive from your loan will depend on the particular circumstances for your business.
When you apply for a certain amount, we take into consideration a variety of factors to assess your well-being of the business and the extent of the repayments your company will be able to support. The amount you receive from the loan will be determined by the particular circumstances for your business.
When you request the company financing, we’ll assess the risk profile of your business and offer an individualised proposal that includes the amount of the loan, the duration and interest rates. A company loan is a loan that is priced upfront and you’ll know in advance the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on several factors including the amount borrowed, the company assets the funds will be used for in addition to the industry that the company is operating in, how long the company has been in operation as well as whether the business has enough cash flow to pay for the loan, and also the overall well-being or creditworthiness of the business.
There aren’t any hidden charges with our company loans, and you’ll know precisely how much you need to pay, and at what time, from the very first day. There’s no compounding interest, and there are no additional charges (as long as you make your payments punctually).
We do not charge an Application Fee. You can apply for a loan with with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can decide to repay the entire amount of the loan early at any time.
If you decide to take this route, please contact our helpful business credit professionals. The specialists will provide you with the details of your repayment as well as an early payout amount. This is calculated as the total of the principal amount remaining and accrued interest to the date of early payout and 1.5% of the principal amount remaining and any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
The security of your personal information, as well as making it clear how we collect information, use it, and exchange it, as well as safeguard your data, is of huge importance and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to security for our customers and security. We make use of an advanced banking verification system to immediately verify the bank account details online, allowing us to offer a fast response.
An asset-based loan is when the company owner makes use of an asset they own to secure the funds for a loan. The asset may be an individual property, such as the family home, or it could be a business property like a truck as well as a piece of machine.
The majority of lenders, even the banks with the biggest size, prefer to secure loans against an asset. If you’re struggling to pay back the loan, the asset might be sold by the lender. In essence it’s an opportunity to secure new financing using the value of what 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 a personal guarantee. In the event that you fulfill the loan terms (as specified in your loan contract), asset security is not required. If you take out loans in excess of $150K generally, you can get personal guarantee and security in the form a charge over assets.
