The eligibility requirements for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K to $500K business credit.
All you need for starting is your contact details (company name, your name, email or phone number) and the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of your identity but not before we can begin:
After we start in the process, for loans of more than $150,000 you’ll need fundamental financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
It is imaginable to apply for this Small Business Loan in under 10 minutes via the internet or over the phone, receive an answer within the same day and the money could be available in just 24 hours. Traditional company loans reference an annual interest rate along with other charges and fees. Our business loan is a loan that is priced upfront therefore you’ll be aware in advance of the total amount due, which includes the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
The Small Business Loan can be used for virtually every company need, such as control of cash flow business remodeling, marketing, to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
A Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan in this amount, your company needs to be in operation for at least 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost any company purpose including business improvements, purchasing equipment or inventory for general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed for funding of more than $150,000. It is usually as a result of an charge over assets, and could include registration with the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is general in nature rather than specifying security over an asset. The person signing the guarantee is personally liable if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted in accordance with the date on which a security interest that is registered.
Caveats are legal document filed to provide notice of a legal claim to property.
If you’re requesting a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval in order to smooth out the process. We might be able to get this done without credit checks and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial well-being questions. This is not an offer or guarantee of funds. A conditional approval is subject a full credit assessment and any offer you might receive could be based on different conditions.
You may be eligible for an business loan if you;
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated business loan specialist will contact you to assist you.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s License) as well as a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, plus interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour, provided you make your application during quality company hours and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statement, we’ll offer a decision within an company day.
For the Larger Business Loan ($100K or more) we may be in a position to provide you with pre-approval conditional to your application in about six hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Certain offers have been approved within the space of 24 hours.
The most efficient method would be to ensure you apply during standard business hours and permit us to use the modern bank verification to instantly verify your bank information online. If you choose to send us duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we typically offer a response in one hour – provided you apply at standard business timings and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements we can offer the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be in a position to offer you with conditional pre-approval in around six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Some agreements have been approved in less than 24 hours.
The quickest method can be make sure you apply during standard business hours. You can also let us use the advanced bank verification system link to verify your bank information online. If you decide to upload duplicates of your banking statements it will take a little longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a certain amount we take into consideration a range of factors for determining what is the health for your business and the level of payments your business is able to afford. The amount you receive from your loan will depend on the particular circumstances of your company.
When you make an application for a set amount, we consider a variety of factors to determine your well-being for your company and the level of the repayments your company is able to afford. The amount you receive from your loan will depend on the particular circumstances that are unique to your business.
If you decide to request business loans with us business loan, we will assess the risk assessment for your company and provide you with a customised proposal that includes the amount of loan, the term and the interest rates. The business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any charges or interest.
Interest rates for business loans rates vary due to factors like the amount of money borrowed, the business assets the money will be used for and the sector the company operates in, the long the business has been operating for, what percentage of the company has enough cash flow to support the loan, and also the general well-being or creditworthiness of the company.
There are no hidden costs for our business loans. You’ll know precisely what it is that you be required to pay and when, right from day one. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can get a cash loan with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You may choose to pay back all of your loan early at any time.
If you choose to pursue this option, please speak to our friendly business loans professionals. We will offer you with details on repayment as well as an early payout amount. This is calculated as the total of the principal balance and the accrued interest up to the time of the early payout and 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payments and to work with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically withdrawn from your company account.
Security of your data, and knowing the ways we gather, use, exchange and secure your information, is crucial and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and security. We use an advanced bank verification system link to immediately verify your bank account details online so we can provide quick responses.
An asset-based loan is when an company owner makes use of the assets they have to secure the funding. The asset can be either an individual asset, such as the family home, or an company property like a truck or piece or equipment.
The majority of the lenders even the banks with the biggest size, prefer to secure loans against an asset. If you are having difficulty paying back the loan then your asset may be transferred to the lender. In essence, it’s means of securing new funding making use of the value of what you already have.
For loans of up to $150,000, no asset security is required in advance to gain access to the funds However, we do need a personal guarantee. If you adhere to your loan commitments (as detailed in your loan contract document) and you are able to meet your obligations, asset security will never be needed. For loans of over $150K generally there is the option of a personal guarantee and security in the form of the charge of assets.
