The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Find out the guidelines for eligibility for our $100K to $500K company loan.
All that is needed for starting is your contact details (company name and your name, as well as email and phone) and the amount you’d like to borrow and your monthly income.
While in the process and before settlement we will require confirmation of your identity, but not to get started:
In addition, once we have started with loans over $150,000 you will also require basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and funds may be available in just 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. Our business loan is a pre-paid loan therefore you’ll know in advance the total amount payable including the interest, fees and charges. This is then broken down into either a daily or weekly payment amount.
The Small Business Loan can be used to fulfill almost any company need, such as the management of cash flow, business improvements, advertising for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
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 the company needs to have been operating for at least three years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Larger Business Loan can be used to fund almost all company reason, such as company remodeling, buying equipment or inventory for general working capital, and much more. The loan is not available for personal reasons.
Asset security is needed for funding of more than $150,000. This is as a result of an charge against assets, and could be registered through the PPSR or filing as a caveat.
A personal or director’s ensure is a commitment to repay a loan which is generally in nature rather than specifying security over an asset. The person who signs the guarantee is personally liable if the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR permits priority over personal property to be assigned in accordance with the date on which a security interest was registered.
A caveat is a legal document lodged to offer the public notice of a legal claim against a property.
If you’re requesting an enterprise loan that exceeds $250K we can offer an initial pre-approval in order to ease the process. We might be able to make this decision without a credit check and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves you answering a few financial well-being questions. It’s not an offer of credit or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you may receive may be based on different terms.
You are eligible to apply for an company loan if you:
The application process is simple and easy. Just complete the online application within a few minutes and an experienced company lending specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, and interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) we can often provide an answer within one hour – as long as you submit your request during standard business hours and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements we can provide an answer within just the span of one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be in a position to provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based on the specifics of each application. Some deals have been approved within 24 hours.
The fastest way would be to make sure you apply during normal business hours and permit us to use the advance bank verification link to verify your bank account information online. If you upload duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer within one hour if you submit your request at standard business hours and permit us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can offer the decision within one business day.
For the Larger Business Loans ($100K or more) we could be likely to offer you with a conditional pre-approval within 6 hours. Once 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 24 hours.
The most effective method for you to apply is make sure you apply during normal business hours. You can also let us use the sophisticated bank verification link to verify your bank information online. If you send us duplicates of your banking statement, it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a particular amount, we take into consideration a range of variables for determining the health of the business and the level of repayments your company will be able to support. The amount you receive from your loan will depend on the particular circumstances for your business.
When you apply for a particular amount, we consider a variety of variables to determine your well-being of the company and the amount of repayments your business can support. The amount you receive from the loan will be determined by the particulars the company.
If you decide to apply for the company loan, we will assess the risk profile for your company and offer an individualised offer, including loan amount, term and interest rates. It is a company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates differ based on various variables like the amount to be borrowed, what business assets the funds will be used for as well as the field the business operates in, how long the business is in operation, in the event that the business has sufficient cash flow to pay for the loan, and the general well-being or creditworthiness of the company.
There are no hidden fees with our company loans. You’ll know precisely how much you need to pay, and when, right from the first day. There’s no compounding interest and there are no additional charges (as long as you make your payments punctually).
We don’t charge an application fee. You can get a cash loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of your loan early at any time.
If you choose to do this please talk to one of our helpful company lending professionals. The specialists will offer you with details on repayment as well as an early payout amount. This will be calculated as the total of the remaining principal amount and the accrued interest up to the date of early payout in addition to 1.5% of the principal balance and any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow standard, we provide payments that are either daily or weekly. They will be automatically deducted from your designated company account.
Protecting your information, and making it clear how we collect data, process, exchange and ensure the security of your information is of paramount importance and is an essential element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system that allows you to instantly verify the bank account details online. This allows us to provide a fast response.
Asset-based borrowing is when the company owner borrows from an asset that they own to get the loan. The asset may be a personal asset like the family home, or it could be a company asset like a truck as well as a piece of machine.
The vast majority of banks, not just the largest banks, are inclined to guarantee loans against an asset. If you’re struggling to pay back the loan, then your assets could be sold by the lender. In essence, it is the process of securing additional financing taking advantage of the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security before you are able to access the money however, we require a personal guarantee. require a personal guarantee. So long as you comply with the terms of your loan (as detailed in the loan contract) the security of assets is not needed. For loans that exceed $150K, typically, you will need personal ensure and security is provided in the form of charges on assets.
