The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Do you need more money? Check out the eligibility requirements for our $100K-$500K company loan.
All that is needed to start is your contact information (company name, your name, email and phone) and the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we will need confirmation of who you are however, not in order to begin:
Once we’ve started, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
The application to get this Small Business Loan in under 10 minutes via the internet or by phone. You will receive an instant response and the funds could be on your account within 24 hours. Traditional business loans refer to an annual rate of interest together with additional fees and charges. This company loan is an upfront priced loan and you’ll be aware in advance of the total amount to be paid, including the interest, fees and charges. This is then broken down into either weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly any company purpose including control of cash flow business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount the business needs to be in operation for at least 3 years and have an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used for almost any business purpose including company renovations, purchase of new equipment or inventory, as general working capital, and much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. This can be done in the form of a charge over assets, which could also include registering this through the PPSR or registering as a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature rather than specifying the security of a specific asset. The person who is signing the guarantee is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including the assets or goods). The PPSR allows the priority of personal property assigned depending on the date that a security interest has been registered.
Caveats are legal document lodged to offer the public notice of a legal claim against a property.
If you’re applying for larger company loans that exceeds $250,000 we can offer an initial pre-approval in order to ease the process. We might be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial health questions. This is not an offer of credit or guarantee of credit. A conditional approval is subject a full credit assessment and any offer that you are offered could be on different conditions.
You may be eligible for a company loan if you;
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and an experienced company expert in lending will call you to help you.
To apply for up $100,000 you’ll need ID details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent, 12 months of bank records, IRD statements and the last two years’ finalised financial statements, as well as interim current financial year financials as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour if you apply during standard business hours and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we will be able to offer a decision within just one company day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide you with a conditional pre-approval within about 6 hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest method is to ensure you apply during normal business hours. You can also allow us to use our advance bank verification to instantly check your bank’s information online. If you opt to upload copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour – as long as you make your application within standard business timings and let us make use of the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements, we will be able to provide an answer within one business day.
For Larger Business Loans ($100K to $500K) we may be able to offer you with a conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval document, you will need to wait 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 within 24 hours.
The fastest method would be to make sure you apply during normal business hours and permit us to use the sophisticated bank verification link to verify your bank account information online. If you choose to send us copies of your bank statement, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a certain amount we will consider a number of aspects that determine what is the well-being for your company and the extent of repayments that your business can support. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
When you make an application for a specific amount we consider a variety of factors to determine how much we can lend you such as well-being for your company and the extent of repayments your company is able to afford. The amount you receive from your loan will depend on the particulars for your company.
If you decide to make an application for the company loan, we’ll assess the risk profile the business and offer you with a customised offer including the loan amount, the terms and the interest rates. The business loan is an upfront cost loan and you’ll be aware of the total amount payable including any interest rates, fees or charges.
The interest rates on business loans rates vary due to factors including the amount borrowed, what business assets the money will be used for, the industry the business operates in, the long the company is in operation as well as how long the company has sufficient cash flow to cover the loan, and also the overall well-being as well as creditworthiness company.
There are no hidden fees with our company loans. You’ll know precisely what it is that you need to pay and when, from day one. There’s no compounding interest and no extra fees (as as long as you pay your payments on time).
We do not charge an Application Fee. You are able to apply for a loan absolutely no upfront cost and no the obligation to take action.
The Origination Fee includes the expenses associated with the setting up and management of the loan. The only way to pay this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay all of your loan in full at any time.
If you choose to pursue this option, please talk to one of our helpful company loans specialists. They will provide you with repayment details and an early payout figure. This will be calculated as the total of the principal balance and accrued interest to the time of early payment and 1.5% of the remaining principal and any fees that remain unpaid.
To make sure you do not miss payment dates and to align with your cash flow general, we provide repayments either daily or weekly. They are automatically deducted from your nominated business account.
The security of your personal information, as well as being transparent about the ways we gather the information we collect, use, share and protect your information, is vital and is a crucial element 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 customer security and privacy. We employ a highly sophisticated bank verification system that allows you to immediately verify your bank account details online to provide a fast response.
Asset-based borrowing occurs when an company owner borrows from an asset that they own to make a loan. The asset can be an individual property, such as the family home or it could be a business asset such as a truck or other piece of machinery.
The majority of lenders, not just the largest banks, are inclined to guarantee loans against an asset. If you are having difficulty paying back the loan then your asset may be taken over by the lender. In essence it’s the process of securing new funding using the value of what you already have.
For loans up to $150K there is no requirement for asset security before you can access the money but we require a personal guarantee. need an individual guarantee. As long as you follow the loan terms (as stipulated in your loan contract), asset security will never be required. If you take out loans in excess of $150,000 generally, there is an individual ensure and security that is in the form an asset charge.
