The eligibility requirements for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Need more funds? Find out the conditions of eligibility for our $100K-$500K company credit.
All you need to start is your contact information (the name of your company, your name, email and phone) along with the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of who you are but not for starting:
Additionally after we get started, for loans of more than $150,000 you’ll require basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
You can apply for this Small Business Loan in under 10 minutes online or on the phone. You’ll receive an answer within the same day and have the funds in your account within 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. Our company loan is an upfront priced loan so you will be aware in advance of the total amount due, which includes any fees, interest or charges. This is then broken down into a daily or weekly installment amount.
It is a Small Business Loan can be used to fulfill almost every company need, such as cash flow management, business remodeling, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size the business needs to have been trading for at least 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A larger business loan can be used for nearly any business purpose including company remodeling, buying equipment or inventory, as general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. It is usually by way of charge on assets and can be registered with the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is general in nature, rather than stipulating the security of a specific asset. The person signing the guarantee is personally liable in the event that the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be granted in accordance with the date on which a security interest that is registered.
An affidavit is an official document filed to provide an official notice of a claim to property.
If you’re seeking larger business loans of $250,000 or more we can offer an initial pre-approval to simplify the process. We might be able to do this without a credit verification and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering some financial well-being questions. It’s in no way an offer, nor is it a guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer that you might receive could be based on different conditions.
You are eligible to apply for a business loan if you:
The process for applying is fast and simple. Just complete the online application within a few minutes and an experienced company lending specialist will be in touch to help you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent and 12 months bank statement, an IRD statement, last 2 years finalised financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K or more) We can usually offer an answer in just one hour – as long as you submit your request during standard company time and you allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statements , we’ll be able to provide the decision in as little as 1 business day.
For the Larger Business Loan ($100K to $500K) we may be able to provide you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain deals have been approved within the space of 24 hours.
The most efficient method can be make sure you apply during normal business hours and permit us to use the modern bank verification link to instantly check your bank’s information online. If you upload copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within one hour – as long as you make your application during normal business time and let us use the bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statements, we will be able to provide a decision in just the span of one business day.
For Larger Business Loans ($100K to $500K) we may be likely to offer you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, it could be faster based on the specifics of each application. Certain offers have been approved in 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours. Also, allow us to use our sophisticated bank verification to instantly check your bank’s information online. If you choose to send us the copies of bank accounts, it will take a little longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount, we consider a variety of aspects to determine what is the well-being for your company as well as the amount of repayments your business can support. The amount you receive from the loan will be determined by the specific circumstances the company.
When you apply for a certain amount, we consider a variety of elements to assess the health for your company as well as the amount of repayments your business will be able to support. The total amount of your loan will depend on the specific circumstances the company.
When you make an application for the company loans, we’ll assess the risk profile for your business and provide an individualised offer, including loan amount, term and interest rates. The business loan is an upfront cost loan which means you know the exact amount due, which includes any interest rates, fees or charges.
The interest rates on company loans rates vary due to variables like the amount to be borrowed, what company assets the funds will be used for, the industry the company is operating in, how long the business is in operation for, in the event that the company has sufficient cash flow to cover the loan, and also the overall well-being or creditworthiness of the business.
There aren’t any hidden charges with our business loans, and you’ll know precisely what you be required to pay and when, right from the first day. There’s no compounding and no extra fees (as long as you make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with no cost upfront or commitment to apply.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the total amount of your loan in full at any time.
If you do decide to take this route, please call our helpful company loans specialists. They will provide you with the details of your repayment and an early payment figure. This is calculated as the total of the principal remaining and accrued interest to the time of early payout in addition to 1.5 percent of the principal balance and any fees that remain unpaid.
In order to help you avoid missing payments and to work your cash flow schedule, we provide payments that are either weekly or daily. They will be automatically deducted from your company account.
Making sure that your information is secure, and being clear about the ways we gather, use, exchange and safeguard your data, is vital and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to security for our clients and security. We make use of an advanced bank verification system link to instantly verify your bank account information online, allowing us to provide rapid response.
Asset-based borrowing is when an company owner utilises an asset they own to make the funding. The asset can be either an asset belonging to the personal, like the family home, or an business property like a truck as well as a piece of machine.
The majority of lending institutions, including the major banks, prefer to guarantee loans against an asset. If you have trouble paying back the loan then your assets could be transferred to the lender. In essence it’s a way of securing new financing by using the value of what you already have.
For loans up to $150K no asset security is required prior to the loan’s access but we require a personal guarantee. require a personal guarantee. In the event that you fulfill your loan obligations (as specified in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K typically, you will need a personal ensure and security in the form the charge of assets.
