The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K to $500K business loan.
All you need to begin is your contact details (company name, your name, email and telephone) and the amount you’d like to borrow and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are, but not before we can begin:
In addition, once we have started with loans greater than $150,000 you’ll need basic financial statements.
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
The application for your Small Business Loan in under 10 minutes via 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 cash-based loan and you’ll know ahead of time the total amount payable including any fees, interest or charges. Then, it is divided into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for almost any business need, such as the management of cash flow, company improvements, advertising to purchase inventory or new equipment, for general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your company needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large company loan can be used to fund almost any business use, including company renovations, purchase of new equipment or inventory, as general working capital and much more. The loan is not available for personal reasons.
Asset security is required to access funding over $150,000. This can be done in the form of a charge on assets, which could also be registered with the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature, rather than stipulating security over an asset. The person who signs the ensure is personally accountable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a security interest that is registered.
Caveats are legal document that is filed to offer the public notice of a legal claim on a property.
If you’re applying for an enterprise loan of more than $250K we may be able to provide an initial pre-approval that will help make the process. It is possible to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial health checks. This is not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you are offered could be subject to different terms.
You can apply for an company loan if you;
The application process is fast and simple. Just fill out the online application in few minutes and an experienced company credit specialist will contact you to guide you through the process.
To be eligible for up to $100,000, you’ll need ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually provide an answer in just one hour – as long as you make your application at standard business timings and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements we can offer an answer in just one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be likely to offer you with pre-approval conditional to your application in about 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest method for you to apply is ensure you apply during normal company hours, and allow us to use our modern bank verification to check your bank’s information online. If you decide to upload documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer in just one hour, provided you submit your request during normal business time and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statements we can provide a decision within 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be able to provide the conditional pre-approval in around six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain offers have been approved within less than 24 hours.
The quickest method can be ensure 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 upload duplicates of your banking statement, it may take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a particular amount, we will consider a number of aspects to determine how much we can lend you well-being of the company and the extent of payments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances of your company.
When you apply for a specific amount we will consider a number of aspects to determine the well-being that is your business and the extent of repayments that your company can support. The total amount of your loan will be contingent on the specific circumstances that are unique to your business.
When you request our company loans, we will assess the risk assessment that you have for your business and offer you with a customised proposal that includes the loan amount, the terms and interest rates. The business loan is a loan that is priced upfront therefore you will know in advance the total amount to be paid, including any charges, interest rates or fees.
Interest rates for business loans rates differ based on various variables like the amount to be that is borrowed, what business assets the money are used to purchase, the industry the company is operating in, how long the business has been running for, how long the business has enough cash flow to support the loan, as well as the overall well-being and creditworthiness of the company.
There aren’t any hidden charges with our business loans. You’ll be aware of the amount you’ll be required to pay, and at what time, from the day you sign up. There’s no compounding interest and there are no additional charges (as as you make your payments punctually).
We do not charge an Application Fee. You are able to request a credit loan with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with 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 percent of the amount of the loan.
You may choose to pay back the entire amount of your loan early at any time.
If you choose to pursue this option, please call our helpful business lending specialists. We will offer you with details on repayment along with an early payout estimate. The figure will be calculated as the sum of the principal balance and the accrued interest up to the date of early payout in addition to 1.5% of the principal remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from your designated company account.
Security of your data, and knowing the ways we gather data, process, exchange and secure your information, is of paramount importance and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to security for our clients and security. We use an advanced bank verification system to immediately verify your bank account details online, allowing us to provide quick responses.
Asset-based borrowing is when a business owner borrows from assets they own to secure the funds for a loan. The asset may be a personal asset like the family home, or a business property like a truck or piece of equipment.
The vast majority of lending institutions, including the big banks, tend to secure loans against an asset. If you have trouble paying back the loan, then the asset might be offered for sale by the lender. In essence it is means of securing additional financing using the value of what you already own.
For loans of up to $150K, there is no requirement for asset security in advance to gain access to the funds, however we do require a personal guarantee. If you adhere to the terms of your loan (as detailed in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150K typically, you will need the option of a personal guarantee and security is provided in the form of charges on assets.
