The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K business credit.
All that is needed to start is your contact details (the name of your company, your name, email, phone) along with the amount you’d like to borrow, and your monthly income.
During the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started, for loans over $150,000 you’ll require basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
You can apply to this Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and have the funds on your account within 24 hours. Traditional business loans refer to an interest rate per annum as well as other fees and charges. Our company loan is a loan that is priced upfront and you’ll know ahead of time the total amount due, which includes the interest, fees and charges. This is then divided into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used to fulfill almost every company use, including cash flow management, business renovations, marketing 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 company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
To be eligible for a loan in this amount the business needs to be operating for at least three years, and have an annual income of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger company loan is a great option for almost any company use, including company remodeling, buying new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required to access funding over $150,000. It is usually in the form of a charge against assets and can include registering this on the PPSR or registering a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is general in nature, rather than specifying security over a particular asset. The person who is signing the guarantee is personally liable if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR permits preference over private property assigned depending on the date that a registration of a security interest.
Caveats are legal document lodged to provide notice of a legal claim on a property.
If you’re applying for an enterprise loan of $250,000 or more we can offer an initial pre-approval to make the process. We could be able to apply for this without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial health checks. It is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you may receive may be subject to different terms.
You may be eligible for a business loan if you:
The application process is simple and easy. Just fill out the online application within a couple minutes, and an experienced company lending specialist will call you to assist you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent as well as 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, as well as interim financial statements for the current year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often provide an answer within one hour, provided you make your application during quality business time and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statement, we’ll provide a decision within one company day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to provide you with pre-approval conditional to your application in about six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Certain transactions have received approval within just 24 hours.
The quickest way to apply would be to make sure you apply during normal business hours and permit us to use the advanced bank verification system link to verify your bank information online. If you decide to upload the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often provide an answer in just one hour, provided you apply in normal business hours and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can provide an answer in just the span of one business day.
For Larger Business Loans ($100K to $500K) we might be in a position to provide the conditional pre-approval in about 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Some deals 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 the sophisticated bank verification link to confirm your bank details online. If you opt to upload copies of your bank accounts, it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a certain amount we look at a variety of factors to determine your health that is your company and the level of repayments that your company can afford. The total amount of your loan will depend on the particular circumstances the business.
When you submit an application for a particular amount, we look at a range of aspects to determine your well-being for your company and the amount of the repayments your company is able to afford. The total amount of the loan will be determined by the specifics for your company.
If you decide to request one of our business credit, we’ll assess the risk assessment of your business and offer you with a customised offer that includes the loan amount, the terms and the interest rates. A business loan is an upfront-priced loan which means you know in advance the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors like the amount of money borrowed, the business assets the funds will be used for, the industry the company operates in, how long the business has been running as well as in the event that the company has sufficient cash flow to support the loan, as well as the general health and creditworthiness of the business.
There are no hidden fees with our company loans. You’ll know exactly how much it is that you be required to pay and when, starting from the very first day. There’s no compounding and there are no additional charges (as as long as you pay your payments on 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 includes the expenses associated in establishing and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can choose to repay all of your loan at any point in time.
If you decide to take this route, please talk to one of our helpful business lending professionals. They’ll provide you with repayment details as well as an early payout amount. This is calculated as the total of the principal amount remaining and accrued interest to the time of the early payout plus 1.5% of the remaining principal plus any outstanding fees.
To ensure that you don’t miss repayments and to fit in with your cash flow standard, we offer repayments either weekly or daily. They are automatically deducted from your nominated business account.
Protecting your information, and being transparent about how we collect, use, exchange and protect your information, is of paramount importance and is an essential 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 customer security and security. We use an advanced bank verification system that allows you to immediately confirm your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where the company owner borrows from the assets they have to make the loan. The asset can be an asset belonging to the personal, like the family home, or it could be a business property like a truck or other piece of machinery.
The vast majority of banks, including the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan then your asset may be taken over by the lender. In essence it’s an opportunity to secure new funding using the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security prior to the loan’s access, however we do need a personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract) Asset security is not required. For loans that exceed $150,000, generally, there is a personal guarantee and security in the form of an asset charge.
