The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Find out the eligibility requirements for our $100K to $500K company financing.
All that is needed to get started is your contact details (company name, your name, email address, phone) as well as the amount you’d like to borrow and your monthly income.
Through the process and before settlement we will require confirmation of your identity but not for starting:
After we start in the process, for loans that exceed $150,000, you’ll need basic 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, cash flow-friendly repayments, which are either daily or weekly.
Apply to get the Small Business Loan in under 10 minutes by phone. You will receive a same day response and the money could be available in just 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. Our company 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 broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually any business reason, such as control of cash flow business improvements, advertising for purchasing inventory or new equipment, or as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
To qualify for a loan of this size the company needs to be operating for a minimum of 3 years, and have an annual income of $700,000. Your business must belong to 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 Business Loan can be used for almost any company use, including business remodeling, buying inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge over assets, and may include registration on the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature, rather than stating security over an asset. The person who is signing the ensure is personally liable in the event that the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR gives priority over personal property to be assigned in accordance with the date on which a security interest has been registered.
A caveat is a legal form of document to offer the public notice of a legal claim to a property.
If you’re applying for a Larger Business Loan that exceeds $250K we can offer an initial pre-approval that will help smooth out the process. We might be able to do this without a credit verification and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering some financial well-being questions. It’s neither an offer nor a guarantee of funds. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you might receive could be based on different conditions.
You may apply for a company loan if you;
The application process is simple and easy. Complete the online form within a couple minutes, and an experienced business expert in lending will call you to guide you.
To be eligible for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent, 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we typically provide an answer in just one hour – as long as you submit your request at standard business times and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements , we are able to provide a decision in just one business day.
For the Larger Business Loan ($100K to $500K) we could be able to provide you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The quickest method is to ensure you apply during standard company hours. You can also allow us to use our modern bank verification link to instantly verify your bank account information online. If you upload duplicates of your banking 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 if you make your application in standard business timings and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements, we will be able to provide an answer in just the span of one business day.
For the Larger Business Loans ($100K or more) we could be able to offer the conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be faster depending on the specifics of each application. Certain agreements have been approved within less than 24 hours.
The most effective method would be to ensure you apply during standard business hours, and allow us to use our advanced bank verification system link to instantly confirm your bank details online. If you send us the copies of bank accounts, it will take a little longer.
We offer the loan amount between $5,000 and $500,000. When you make an application for a particular amount, we consider a variety of variables to determine the health of the company and the extent of payments your business can afford. The amount you receive from your loan will depend on the particular circumstances of your business.
When you make an application for a specific amount we will consider a number of elements to assess your well-being of the business and the extent of payments your company will be able to support. The amount you receive from your loan will be determined by the particular circumstances the business.
If you decide to request one of our company financing, we’ll assess the risk assessment that you have for your business and offer you with a customised offer that includes the amount of loan, the term and interest rates. The company loan is a loan that is priced upfront and you’ll know in advance the total amount due, which includes any costs, fees, or interest rates.
Interest rates for company loans rates depend on a variety of variables like the amount to be borrowed, the business assets the money are used to purchase in addition to the industry that the business operates in, the long the company has been running for, whether the company has sufficient cash flow to fund the loan, and the overall health and creditworthiness of the business.
There aren’t any hidden costs with our company loans. You’ll know exactly how much you’ll be required to pay and when, from the day you sign up. There’s no compounding 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 apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage 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 do this please speak to our friendly business loan professionals. They’ll offer you with the details of your repayment as well as an early payout amount. This is calculated as the sum of the principal remaining and accrued interest to the time of early payment in addition to 1.5% of the principal balance and any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments that are either daily or weekly. They will be automatically deducted from your company account.
The security of your personal information, as well as making it clear how we collect, use, exchange and ensure the security of your information is of paramount importance and a vital part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system that allows you to instantly verify the bank account details online so we can provide quick responses.
The term "asset-based" refers to borrowing where an company owner uses assets they own to make the loan. The asset can be either an individual asset, such as the family home, or it could be a business asset such as a truck or other piece of machinery.
The majority of banks, not just the big banks, tend to guarantee loans against assets. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence, it’s a way of securing new financing by making use of the value of what you already own.
For loans that exceed $150,000, it is not necessary to secure assets in advance to gain access to the funds, however we require a personal guarantee. require a personal guarantee. So long as you comply with your loan commitments (as stated in the loan contract) the security of assets will never be needed. For loans that exceed $150K, generally there is the option of a personal ensure and security that is in the form charges on assets.
