The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K-$500K company loans.
All you need to get started is your contact details (company name and your name, as well as email, phone) and the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
Additionally after we get started with loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply to the Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and the money could be in your account in 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. This business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount to be paid, including any interest, fees or charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for nearly any company use, including the management of cash flow, company remodeling, marketing to purchase inventory, new equipment, or as general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To be eligible for a credit in this amount the company needs to have been trading for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used to fund almost every business need, including business renovations, to purchase inventory or new equipment or as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is needed to access funding over $150,000. It is usually by taking a charge over assets, and could include registering this through the PPSR or registering a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature rather than defining security over a particular asset. The person who signs the ensure is personally liable in the event that the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR permits the priority of personal property assigned according to the date a security interest was registered.
A caveat is a legal document that is filed to offer the legal claim to a property.
If you’re requesting the Larger Business Loan of more than $250K we can offer a preliminary pre-approval to help simplify the process. We may be able to make this decision without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial well-being questions. It’s neither an offer nor a guarantee of finance. Acceptance without condition is subject to a full credit assessment and any offer that you may receive may be on different conditions.
You can apply for an company loan if you;
The application process is fast and simple. Complete the online form within a few minutes and an experienced business lending specialist will contact you to guide you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually offer an answer within one hour if you submit your request in quality business timings and let us utilise the bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements we can provide an answer within one company day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide you with a conditional pre-approval in around six hours. After you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain deals have been approved within less than 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours and permit us to use the advanced bank verification system to instantly verify your bank information online. If you choose to send us documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within an hour, provided you make your application during normal business timings and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can provide an answer in as little as 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be likely to offer 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 specifics of each application. Certain agreements have been approved in 24 hours.
The fastest way would be to ensure you apply during normal business hours and allow us to use the advance bank verification link to verify your bank account information online. If you opt to send us the copies of bank statement, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. When you submit an application for a certain amount we will consider a number of factors to determine your well-being for your business and the level of the repayments your business can afford. The amount you receive from your loan will depend on the specific circumstances for your company.
When you submit an application for a certain amount, we take into consideration a variety of factors to assess how much we can lend you such as well-being of the business and the extent of repayments that your business can support. The amount you receive from your loan will depend on the specifics of your company.
When you make an application for the business credit, we will assess the risk profile that you have for your business and provide you with a customised offer, including the amount of the loan, the duration and the interest rates. A company loan is a loan that is priced upfront therefore you will know the exact amount to be paid, including any charges, interest rates or fees.
Interest rates for business loans rates differ based on various factors like the amount of money borrowed, what company assets the funds will be used for and the sector the business operates in, how long the company is in operation, whether the company has enough cash flow to fund the loan, as well as the general well-being or financial standing of the business.
There are no hidden costs for our business loans. You’ll be aware of the amount it is that you need to pay and when, from the very first day. There’s no compounding interest, and no extra fees (as as you make your payments on time).
We do not charge an application fee. You can get a cash loan with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you decide to pursue this option, please contact our helpful company credit professionals. The professionals will provide you with details on repayment and an early payout figure. The figure will be calculated as the sum of the principal balance and any accrued interest at the time of the early payout and 1.5% of the remaining principal and any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow general, we provide repayments either weekly or daily. They will be automatically deducted from the nominated business account.
Making sure that your information is secure, and being upfront about how we collect data, process, exchange and secure your information, is of huge importance and is a crucial aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We use an advanced bank verification system that allows you to immediately verify your bank account details online to provide a fast response.
The term "asset-based" refers to borrowing where a company owner utilises an asset they own to secure the funding. The asset can be either an individual property, such as the family home or an business asset such as a vehicle or piece of equipment.
The vast majority of the lenders not just the major banks, prefer to secure loans against an asset. If you’re struggling to pay back the loan, then your assets could be sold by the lender. In essence, it is an opportunity to secure additional financing making use of the value of what you already have.
Up to $150,000 in loans no asset security is required prior to the loan’s access, however we require a personal guarantee. require the personal guarantee. If you adhere to your loan commitments (as stipulated in your loan contract document) Asset security will never be needed. For loans that exceed $150,000, generally, there is an individual ensure and security in the form of the charge of assets.
