The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K business loans.
All that’s needed for starting is your contact details (the name of your company, your name, email and phone), how much you want to borrow, and your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not before we can begin:
Once we’ve 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, cash flow friendly repayments which can be made daily or weekly.
Apply to get the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an answer within the same day and funds may be available in just 24 hours. Traditional company loans reference an interest rate per annum together with additional fees and charges. We offer a company loan is a cash-based loan and you’ll know ahead of time the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for almost any company purpose including control of cash flow business renovations, marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be trading for at least 3 years, and have an annual income of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large business loan can be used for almost all business purpose including business renovations, purchase of equipment or inventory for general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary to access funding over $150,000. It’s by taking a charge on assets, and could include registering this with the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature rather than defining security over an asset. The person who signs the ensure is personally responsible if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR allows the priority of personal property assigned according to the date a security interest that is registered.
The caveat can be described as a formal document that is filed to offer the legal claim on a property.
If you’re seeking larger business loans that exceeds $250K we may be able to provide an initial pre-approval in order to simplify the process. We could be able to make this decision without credit checks and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial health checks. This is in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you receive could be based on different terms.
You are eligible to apply for a business loan if you;
The application process is simple and easy. Just fill out the online application within a few minutes and an experienced company lending specialist will contact you to help you.
To apply for up to $100,000 you’ll need ID details (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we typically offer an answer in just one hour, provided you make your application at quality business timings and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your bank statement, we’ll provide an answer in as little as 1 company day.
For Larger Business Loans ($100K or more) we may be able to offer the conditional pre-approval in around 6 hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Certain agreements have been approved in 24 hours.
The most efficient method would be to ensure you apply during normal business hours, and allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you send us documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer within one hour, provided you submit your request within standard business timings and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll offer a decision in just 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be capable of offer you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Certain transactions have received approval in just 24 hours.
The most efficient method would be to make sure you apply during standard business hours and allow us to use the sophisticated bank verification to check your bank’s information online. If you opt to upload the copies of bank accounts, it can take a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a certain amount, we will consider a number of factors for determining what is the health that is your business and the amount of repayments your company will be able to support. The amount you receive from your loan will be contingent on the specifics that are unique to your company.
When you submit an application for a particular amount, we consider a variety of elements to determine how much we can lend you such as health that is your company and the amount of the repayments your company can support. The amount you receive from your loan will depend on the specific circumstances the business.
If you decide to make an application for business loans with us business financing, we’ll assess the risk profile the company and offer an individualised offer including the amount of loan, the term and interest rates. It is a business loan is an upfront priced loan so you will know the exact amount to be paid, including any charges, interest rates or fees.
Interest rates for company loans rates differ based on various variables like the amount to be borrowed, the company assets the funds will be used for and the sector the business is operating in, how long the business has been running and whether the company has sufficient cash flow to cover the loan, and also the general well-being and creditworthiness of the company.
There aren’t any hidden charges with our company loans, and you’ll know precisely how much you be required to pay, and at what time, from day one. There’s no compounding interest, and there are no additional charges (as as you make your payments punctually).
We don’t charge an Application Fee. You are able to get a cash loan with with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the entire amount of your loan early at any time.
If you choose to take this route, please talk to one of our helpful company loans professionals. The specialists will offer you with the details of your repayment and an early payment figure. It will be calculated using the sum of the remaining principal amount plus any accrued interest as of the time of early payment plus 1.5% of the principal amount remaining as well as any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your nominated company account.
Security of your data, and being clear about how we collect data, process, exchange and safeguard your data, is vital and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We make use of an advanced banking verification system to instantly verify your bank account information online to offer a fast response.
Asset-based borrowing occurs when an company owner uses the assets they have to make the loan. The asset may be an individual property, such as the family home or an company asset like a truck or piece of equipment.
The vast majority of lenders, including the largest banks, are inclined to make loans secured by assets. If you’re having trouble paying back the loan, the asset could be taken over by the lender. In essence, it is the process of securing new financing making use of the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required before you are able to access the money, however we do need a personal guarantee. In the event that you fulfill the loan terms (as stated in your loan contract), asset security will never be needed. If you take out loans in excess of $150,000 typically, you will need a personal ensure and security that is in the form the charge of assets.
