The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K to $500K business loan.
All that’s required to start is your contact details (company name, your name, email and telephone) along with the amount you’d like to borrow, as well as your monthly income.
While in the process and before settlement we will need confirmation of who you are but not for starting:
After we start in the process, for loans of more than $150,000 you’ll also require the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
The application to this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and funds may be on your account within 24 hours. Traditional business loans reference an interest rate per annum together with additional fees and charges. Our company loan is a pre-paid loan which means you know in advance the total amount to be paid, including any fees, interest or charges. Then, it is broken down into weekly or daily installment amount.
It is a Small Business Loan can be used for virtually any business reason, such as cash flow management, company renovations, marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To be eligible for a credit of this size the company needs to have been trading for at least 3 years with an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 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 need, including business improvements, purchasing new equipment or inventory for general working capital and much more. The loan is not available for personal reasons.
Asset security is required for accessing funds over $150,000. This is in the form of a charge on assets and can be registered on the PPSR or making a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is generally in nature rather than defining the security for a particular asset. The person who signs the guarantee is personally responsible if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including the assets or goods). The PPSR allows prioritisation over property that is personal to be assigned according to the date a security interest has been registered.
A caveat is a legal document filed to offer the legal claim against a property.
If you’re requesting larger business loans that is greater than $250,000, we may offer an initial pre-approval that will help simplify the process. We could be able to do this without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health checks. It’s not an offer or guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer you may receive may be subject to different terms.
You are eligible to apply for a company loan if you:
The application process is simple and easy. Just fill out the online application in few minutes and a dedicated business lending specialist will be in touch to guide you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K to $250K: Information about the 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 twelve months bank statement, an IRD statements Last 2 years’ finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we can often provide an answer in just one hour, provided you make your application in quality company time and permit us to utilise the bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statement, we’ll provide an answer within just 1 business day.
If you are applying for a Larger Business Loan ($100K and up) we might be capable of provide you with pre-approval conditional to your application within 6 hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Some transactions have received approval in 24 hours.
The fastest way is to make sure you apply during standard company hours. You can also let us use the advance bank verification link to verify your bank information online. If you decide to upload the copies of bank accounts, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer in just one hour – as long as you apply within standard business timings and permit us to use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statement, we’ll provide a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K and up) we could be capable of offer you with pre-approval conditional to your application within six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Some agreements have been approved within less than 24 hours.
The quickest method would be to make sure you apply during normal business hours. Also, allow us to use our sophisticated bank verification link to instantly check your bank’s information online. If you choose to upload the copies of bank statements, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a certain amount we consider a variety of elements that determine what is the health of the business and the amount of repayments that your business is able to afford. The amount you receive from your loan will be contingent on the particular circumstances that are unique to your business.
When you apply for a specific amount we look at a range of elements to determine the health of your company as well as the amount of repayments your business will be able to support. The amount you receive from your loan will be determined by the specific circumstances of your company.
If you decide to apply for business loans with us company financing, we’ll assess the risk assessment of your company and offer you with a tailored proposal that includes the amount of loan, the term and the interest rates. This business loan is an upfront-priced loan and you’ll know in advance the total amount to be paid, including any charges, interest rates or fees.
Business loan interest rates depend on several factors such as the amount that is that is borrowed, what company assets the funds are used to purchase in addition to the industry that the business is in, how long the business has been running, in the event that the company has enough cash flow to cover the loan, and also the overall health or financial standing of the company.
There aren’t any hidden charges with our company loans, and you’ll be aware of the amount you’ll be required to pay, and when, from the very first day. There’s not any compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We do not 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 is the cost associated with the setting up and management of the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay the total amount of your loan in full at any time.
If you decide to pursue this option, please call our helpful company lending professionals. They’ll provide you with the details of your repayment as well as an early payout amount. It will be calculated using the total of the principal balance and accrued interest to the time of early payout and 1.5 percent of the principal amount remaining as well as any outstanding fees.
To ensure you do not miss repayments and to fit in with your cash flow cycle we provide repayments either daily or weekly. They will be automatically deducted from the nominated company account.
Security of your data, and being upfront about how we collect data, process, exchange and protect your information, is of paramount importance and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to security for our customers and privacy. We use an advanced bank verification system to instantly verify your bank account information online so we can provide rapid response.
An asset-based loan is when the company owner utilises the assets they have to secure the funding. The asset can be an asset belonging to the personal, like the family home, or a company property like a truck or piece of equipment.
The vast majority of lenders, even the largest banks, are inclined to guarantee loans against assets. If you’re struggling to pay back the loan then your assets could be sold by the lender. In essence it is a way of securing new financing taking advantage of the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required prior to the loan’s access but we do need an individual guarantee. If you adhere to your loan obligations (as stipulated in the loan contract), asset security will never be needed. For loans of over $150,000 typically, you will need personal guarantee and security that is in the form an asset charge.
