The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Do you require more money? Take a look at the conditions of eligibility for our $100K to $500K company financing.
All that is needed for starting is your contact details (company name and your name, as well as email and telephone), how much you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will need confirmation of your identity, but not to get started:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll also require 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 and cash flow friendly repayments, which are either daily or weekly.
The application to this Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and funds may be in your account in 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. Our company loan is an upfront priced loan so you will be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for nearly every business purpose including control of cash flow business remodels and marketing to purchase inventory or new equipment, to fund 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 expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on the flow of cash.
A Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a credit in this amount the company needs to be in operation for at least 3 years and have an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A large business loan can be used for almost all business purpose including company remodeling, buying new equipment or inventory as well as for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. This can be done as a result of an charge over assets, and could be registered with the PPSR or filing a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is general in nature rather than specifying the security of a specific asset. The person who is signing the guarantee is personally accountable if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR permits the priority of personal property granted according to the date the security interest was registered.
An affidavit is an official document that is filed to offer the public notice of a legal claim to a property.
If you’re seeking a Larger Business Loan that exceeds $250,000 we can offer an initial pre-approval in order to simplify the process. We might be able to make this decision without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering some financial health checks. It’s not an offer or guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer you might receive could be on different terms.
You are eligible to apply for an company loan if you:
The process for applying is fast and simple. Simply complete the online form within a couple minutes, and a dedicated company lending specialist will be in touch to help you.
To apply for up $100,000 you’ll require proof of identity (valid Driver’s License) along with a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually provide an answer in just one hour – as long as you make your application in standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statements , we are able to offer the decision in as little as the span of one company day.
For Larger Business Loans ($100K up to $500,000) we could be capable of offer you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours, and let us use the advanced bank verification system to confirm your bank details online. If you decide to send us copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer in just one hour – as long as you submit your request in standard business timings and allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you choose to send us copies of your bank statement, we’ll provide a decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be able to offer you with pre-approval conditional to your application within 6 hours. Once you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Certain agreements have been approved in 24 hours.
The fastest method for you to apply is make sure you apply during standard business hours and permit us to use the sophisticated bank verification link to verify your bank account information online. If you decide to send us the copies of bank statement, it may take a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a specific amount we will consider a number of variables to determine how much we can lend you health for your company as well as the amount of the repayments your company will be able to support. The total amount of the loan will be determined by the specific circumstances for your business.
When you apply for a specific amount we consider a variety of elements to determine how much we can lend you such as well-being for your company as well as the amount of repayments your company is able to afford. The total amount of the loan will be determined by the particulars the business.
When you make an application for business loans with us business loans, we’ll assess the risk assessment that you have for your business and offer an individualised offer including the amount of loan, the term and interest rates. This company loan is an upfront cost loan therefore you will be aware in advance of the total amount you will have to pay, including charges, interest rates or fees.
The interest rates on company loans rates differ based on various factors such as the amount that is borrowed, what company assets the money are used to purchase and the sector the company is operating in, how long the business is in operation and in the event that the business has sufficient cash flow to pay for the loan, and overall health or financial standing of the business.
There aren’t any hidden charges with our business loans, and you’ll know exactly how much it is that you need to pay and when, right from the first day. There’s no compounding and no extra fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You can request a credit loan with without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay the entire amount of the loan early at any time.
If you do decide to take this route, please contact our helpful business lending experts. The experts will provide you with details on repayment and an early payout figure. The figure will be calculated as the total of the principal balance and the accrued interest up to the time of early payment in addition to 1.5 percent of the principal balance and any outstanding fees.
To ensure that you don’t miss repayments and to fit in with your cash flow standard, we provide repayments either daily or weekly. These are automatically withdrawn from your business account.
Security of your data, and knowing the ways we gather information, use it, and exchange it, as well as protect your information, is vital and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to customer security and privacy. We use an advanced bank verification system link to immediately confirm your bank account information online. This allows us to provide quick responses.
The term "asset-based" refers to borrowing where the business owner borrows from an asset they own to obtain a loan. The asset may be a personal asset like the family home or it could be a company asset such as a truck or piece or equipment.
The vast majority of the lenders not just the big banks, tend to guarantee loans against assets. If you’re struggling to pay back the loan, then your assets could be transferred to 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, there is no requirement for asset security before you are able to access the money However, we do need the personal guarantee. In the event that you fulfill your loan commitments (as stipulated in your loan contract) Asset security is not required. For loans that exceed $150K, typically, you will need the option of a personal guarantee and security in the form of the charge of assets.
