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 company loan.
All that is needed to begin is your contact details (company name, your name, email and phone) along with the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we’ll need confirmation of who you are but not to get started:
Once we’ve started in the process, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started now.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
Apply to this Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and the funds could be in your account within 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. This business loan is an upfront priced loan so you will be aware in advance of the total amount payable including any fees, charges or charges. This is then broken down into a daily or weekly repayment figure.
The Small Business Loan can be used for nearly every company need, such as control of cash flow company renovations, marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To be eligible for a loan of this size, your business needs to be operating for a minimum of 3 years with an annual turnover of $700,000. The applicant must also 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 the least 12 months of operating.
A large company loan can be used for almost every company reason, such as company renovations, to purchase new equipment or inventory for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is necessary for funding of more than $150,000. This is by taking a charge against assets, and may include registration through the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature rather than defining security over an asset. The person who signs the guarantee is personally liable in the event that the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including the assets or goods). The PPSR permits the priority of personal property assigned according to the date a security interest that is registered.
Caveats are legal document that is filed to provide notice of a legal claim to a property.
When you’re applying for a Larger Business Loan that is greater than $250K, we may offer an initial pre-approval to ease the process. It is possible to make this decision without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial health questions. It is neither an offer nor a guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer that you are offered could be on different conditions.
You can apply for a company loan if you
The application process is simple and simple. Just complete the online application in few minutes and an experienced business lending specialist will contact you to guide you through the process.
To apply for up to $100,000 you’ll require ID details (valid Driver’s Licence) and an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statement, last 2 years finalised financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we can often provide an answer in just one hour – as long as you submit your request at quality company timings and permit us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statements , we will be able to provide the decision within just 1 company day.
For the Larger Business Loan ($100K and up) we may be capable of offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The fastest way would be to ensure you apply during normal company hours. You can also allow us to use the advance bank verification to confirm your bank details online. If you choose to upload duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer in just one hour, provided you apply in standard business time and let us use the bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your bank statement, we’ll provide a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be in a position to offer the conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The most efficient method for you to apply is make sure you apply during standard business hours and allow us to use the modern bank verification to instantly confirm your bank details online. If you choose to upload duplicates of your banking statement, it may take a bit longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a certain amount, we take into consideration a range of elements for determining what is the health for your company and the level of the repayments your business is able to afford. The total amount of your loan will be contingent on the specifics for your business.
If you apply for a specific amount we look at a range of factors to assess how much we can lend you such as health of your company and the extent of repayments that your company can support. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your business.
When you request the business financing, we’ll assess the risk assessment for your company and provide an individualised offer, including the amount of loan, the term and the interest rates. This business loan is an upfront cost loan and you’ll know the exact amount due, which includes any interest rates, fees or charges.
Business loan interest rates differ based on various factors such as the amount that is borrowed, what business assets the funds are used to purchase in addition to the industry that the company is in, how long the business is in operation and how long the business has enough cash flow to support the loan, and overall well-being or creditworthiness of the business.
There are no hidden costs with our business loans. You’ll know precisely how much you need to pay and at what time, from day one. There’s no compounding interest and no additional fees (as as long as you pay your payments in time).
We do not charge an application fee. You can apply for a loan no cost upfront or any obligation to sign up.
The Origination Fee covers the costs associated with establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back all of your loan early at any time.
If you choose to do this please contact our helpful business credit professionals. We will provide you with details for repayment along with an early payout estimate. The figure will be calculated as the sum of the principal balance and any accrued interest at the time of early payout, plus 1.5% of the principal balance and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line your cash flow cycle we offer repayments that are either daily or weekly. They are automatically deducted from your company account.
Protecting your information, and knowing the ways we gather, use, exchange and protect your information, is vital and an integral part of our relationship you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We utilise a sophisticated bank verification system link to immediately verify your bank account information online to provide an immediate response.
Asset-based borrowing occurs when an business owner utilises assets they own to obtain the funds for a loan. The asset can be either an individual asset, such as the family home, or a business asset such as a vehicle or piece of equipment.
The majority of banks, not just the big banks, tend to secure loans against an asset. If you have trouble paying back the loan then the asset might be sold by the lender. In essence it is means of securing new funding using the worth of the asset you already own.
For loans of up to $150,000, it is not necessary to secure assets before you can access the money However, we require a personal guarantee. need a personal guarantee. If you adhere to your loan obligations (as stated in the loan contract) the security of assets is not needed. For loans over $150K generally, you can get a personal ensure and security in the form of an asset charge.
