The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Do you require more money? Take a look at the eligibility requirements for our $100K to $500K business loans.
All you need to get started is your contact details (company name, your name, email and phone) and the amount you’d like to borrow and your monthly income.
During the process and before settlement we will need confirmation of your identity, but not before we can begin:
Once we’ve started with loans over $150,000 you’ll need fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
You can apply for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and have the funds in your account in 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. Our business loan is a pre-paid loan so you will know in advance the total amount payable including the interest, fees and charges. This is then broken down into either weekly or daily repayment figure.
A Small Business Loan can be used for nearly every business purpose including managing cash flows, business remodels and marketing, to purchase inventory or new equipment, or as general working capital, and 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 between $100,000 and $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To be eligible for a credit in this amount, your business needs to be trading for at least 3 years and have an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost all business purpose including business improvements, purchasing new equipment or inventory, as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. It is usually by taking a charge against assets, and could include the registration of this in the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is generally based rather than defining security over an asset. The person who signs the guarantee is personally liable in the event that the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including objects or assets). The PPSR permits the priority of personal property assigned according to the date the security interest has been registered.
Caveats are legal document lodged to offer the public notice of a legal claim to a property.
If you’re applying for the Larger Business Loan that exceeds $250K we can offer an initial pre-approval in order to ease the process. We might be able to apply for this without a credit check and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial well-being questions. It is not an offer of credit or guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer you might receive could be on different conditions.
You may be eligible for an company loan if you;
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated business expert in lending will call you to help you.
To apply for up $100,000 you’ll need identification details (valid Driver’s License) and a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent, 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K and up) we typically offer a response in one hour, provided you submit your request in standard company hours and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements , we are able to offer a decision within just the span of one company day.
For the Larger Business Loan ($100K or more) we may be likely to provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved within less than 24 hours.
The quickest way to apply can be ensure you apply during normal company hours. You can also permit us to use the advanced bank verification system to instantly verify your bank account information online. If you decide to upload copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer a response in one hour – as long as you apply within standard business times and permit us to make use of the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your bank statements, we’ll be able to provide the decision within 1 business day.
For the Larger Business Loans ($100K up to $500,000) we might be in a position to provide you with conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this may be quicker depending on the specifics of each application. Some agreements have been approved in just 24 hours.
The fastest method can be make sure you apply during normal business hours. You can also allow us to use the modern bank verification to verify your bank account information online. If you choose to upload duplicates of your banking statement, it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a specific amount we will consider a number of factors for determining what is the well-being for your company and the extent of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances the company.
If you apply for a specific amount we will consider a number of aspects to determine the well-being for your company and the level of repayments your business will be able to support. The amount you receive from your loan will be contingent on the specific circumstances the business.
If you decide to apply for the company credit, we’ll assess the risk assessment of your business and provide you with a tailored offer that includes loan amount, term and interest rates. It is a business loan is an upfront-priced loan which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of factors like the amount of money borrowed, the company assets the funds will be used for and the sector the business is in, how long the business has been operating and how long the business has sufficient cash flow to pay for the loan, and also the overall well-being or financial standing of the business.
There are no hidden costs for our business loans. You’ll know exactly how much you need to pay and when, from the very first day. There’s not any compounding interest and no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You can make an application for loans with no cost upfront or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You may choose to pay back the total amount of your loan at any point in time.
If you decide to do this please call our helpful business credit experts. They will provide you with details for repayment and an early payout figure. This is calculated as the sum of the remaining principal amount and any accrued interest at the time of early payout in addition to 1.5 percent of the principal remaining and any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your business account.
Protecting your information, and being upfront about the ways we gather data, process, exchange and protect your information, is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to the security of our customers as well as their privacy. We use an advanced bank verification system link to immediately verify your bank account details online so we can provide an immediate response.
An asset-based loan is when an business owner makes use of an asset they own to secure the loan. The asset could be a personal asset like the family home or it could be a company property like a truck or other piece of machinery.
The majority of lending institutions, including the major banks, prefer to secure loans against an asset. If you’re having trouble paying back the loan then your assets could be offered for sale by the lender. In essence it’s means of securing new funding using the worth of the asset you already own.
Up to $150,000 in loans it is not necessary to secure assets in advance to gain access to the funds but we do need an individual guarantee. In the event that you fulfill your loan obligations (as stated in the loan contract), asset security will never be needed. For loans of over $150,000 generally there is a personal guarantee and security in the form of a charge over assets.
