The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Review the eligibility requirements for our $100K to $500K company credit.
All that is needed to begin is your contact information (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 will require confirmation of your identity but not to get started:
Once we’ve started, for loans of more than $150,000 you’ll also need basic financial statements.
Let’s get started now.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional company loans have an annual interest rate together with additional fees and charges. Our business loan is a pre-paid loan which means you be aware in advance of the total amount payable including any interest, fees or charges. Then, it is broken down into either a daily or weekly repayment figure.
A Small Business Loan can be used for virtually any business reason, such as managing cash flows, company renovations, marketing, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large the company needs to be operating for at least three years and have an annual turnover of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Larger Business Loan can be used for almost any business need, including company improvements, purchasing equipment or inventory for general working capital and so much more. The loan is not available for personal purposes.
Asset security is needed for accessing funds over $150,000. This can be done in the form of a charge over assets, and may be registered with the PPSR or making as a caveat.
A director’s or personal ensure is a promise to pay off a credit line that is generally in nature rather than defining security over a particular asset. The person who is signing the ensure is personally liable in the event that the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR gives preference over private property assigned in accordance with the date on which a security interest was registered.
An affidavit is an official document lodged to offer an official notice of a claim to property.
If you’re seeking an enterprise loan of more than $250K we may be able to provide an initial pre-approval in order to simplify the process. We may be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial well-being checks. This is not an offer or guarantee of financing. Unconditional approval 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 company loan if you:
The application process is simple and easy. Just complete the online application in just a few minutes, and a dedicated company credit specialist will be in touch to help you.
To apply for up to $100,000, you’ll need the right identification documents (valid Driver’s License) and a valid NZBN/IRD as well as at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Information on the application including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we typically provide an answer within one hour – as long as you make your application in standard business time and permit us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statement, we’ll offer a decision within one company day.
For the Larger Business Loan ($100K up to $500,000) we might be capable of provide the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest way to apply is to make sure you apply during normal company hours. Also, allow us to use our advanced bank verification system to instantly confirm your bank details online. If you decide to send us duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer in just one hour, provided you apply at standard business hours and let us use the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statements we can provide an answer in as little as 1 business day.
For the Larger Business Loans ($100K or more) we may be capable of offer you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval document, you will require to wait about 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain agreements have been approved within 24 hours.
The quickest method is to make sure you apply during standard business hours, and allow us to use our advance bank verification to instantly verify your bank account information online. If you choose to send us documents from your account statements, it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a certain amount, we will consider a number of aspects for determining how much we can lend you well-being of your company and the level of repayments that your company will be able to support. The amount you receive from the loan will be determined by the specifics the business.
When you apply for a particular amount, we consider a variety of factors to assess your health for your company and the amount of repayments your company can afford. The amount you receive from the loan will be determined by the specific circumstances of your company.
If you decide to apply for our business credit, we’ll assess the risk profile the business and offer you with a customised proposal that includes the amount of the loan, the duration and interest rates. The company loan is an upfront cost loan therefore you will know the exact amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates vary due to factors such as the amount that is borrowed, what business assets the funds are used to purchase as well as the field the company operates in, how long the company has been running as well as whether the company has sufficient cash flow to cover the loan, and the general health or financial standing of the company.
There aren’t any hidden charges with our company loans. You’ll know precisely how much you’ll need to pay and at what time, from day one. There’s no compounding and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an Application Fee. You are able to make an application for loans with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You may choose to pay back all of your advance loan at any time.
If you choose to take this route, please speak to our friendly business loan experts. They will offer you with details on repayment and an early payment figure. This is calculated as the sum of the principal amount remaining and any accrued interest at the time of early payout and 1.5% of the principal balance as well as any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and secure your information, is vital and is an essential element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system that allows you to instantly verify the bank account details online to offer quick responses.
Asset-based borrowing is when the 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 as well as a piece of machine.
The vast majority of the lenders including the major banks, prefer to make loans secured by an asset. If you’re struggling to pay back the loan, then the asset might be sold by the lender. In essence it’s a way of securing new financing using the worth of the asset you already own.
Up to $150,000 in loans the requirement for asset security is not required upfront to access the money However, we do need the personal guarantee. As long as you follow your loan commitments (as detailed in the loan contract) the security of assets will never be needed. If you take out loans in excess of $150K generally there is an individual ensure and security in the form of a charge over assets.
