The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business credit.
All you need to get started is your contact information (the name of your company and your name, as well as email and telephone) and the amount you’d like to lend, and your monthly income.
During the process and before settlement we will require confirmation of who you are but not to get started:
In addition, once we have started with loans of more than $150,000 you’ll also need the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments, which are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and have the funds in your account in 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. This business loan is a loan that is priced upfront which means you know in advance the total amount due, which includes the interest, fees and charges. This is then divided into a daily or weekly repayment figure.
The Small Business Loan can be used for nearly every company use, including managing cash flows, company remodels and marketing to purchase inventory, new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are either weekly or fortnightly depending on the flow of cash.
This Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
To qualify for a loan in this amount, your business 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) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Business Loan of a larger size can be used for nearly every business use, including business renovations, to purchase inventory or new equipment or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed for funding of more than $150,000. It is usually in the form of a charge on assets and can be registered on the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to repay credit that is generally in nature rather than defining security over an asset. The person who is signing the guarantee 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 an online, central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date the security interest that is registered.
A caveat is a legal form of document to provide the legal claim on a property.
If you’re requesting an enterprise loan of $250,000 or more we can offer a preliminary pre-approval to help simplify the process. We might be able to get this done without a credit check, and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial health checks. It is in no way an offer, nor is it a guarantee of funds. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you may receive may be based on different conditions.
You can apply for an business loan if you;
The application process is simple and simple. Simply complete the online form in just a few minutes, and a dedicated business loan specialist will contact you to help you.
For a loan of up to $100,000 you’ll need the right identification documents (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent and 12 months of bank statements, IRD statement, last 2 years finalised financial statements, and interim current financial year financials as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour – as long as you apply at quality business time and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements we can offer the decision within just one business day.
For Larger Business Loans ($100K or more) we could be capable of offer you with a conditional pre-approval within about six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this could be shorter based on the specifics of each application. Certain deals have been approved within the space of 24 hours.
The most efficient method is to make sure you apply during standard business hours, and allow us to use our modern bank verification to verify your bank information online. If you decide to upload copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide a response in one hour – provided you make your application during normal business time and permit us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements we can provide a decision within one business day.
For Larger Business Loans ($100K or more) We may be in a position to provide you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved within less than 24 hours.
The quickest method would be to ensure you apply during normal business hours, and permit us to use the modern bank verification to verify your bank account information online. If you send us copies of your bank statements, it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we take into consideration a range of factors that determine the well-being for your company and the amount of repayments your company will be able to support. The amount you receive from your loan will depend on the specifics for your business.
If you apply for a set amount, we look at a range of factors to assess your well-being for your business and the level of payments your company will be able to support. The total amount of your loan will be determined by the particulars that are unique to your business.
When you request our business credit, we will assess the risk profile for your company and provide you with a customised offer that includes the amount of the loan, the duration and the interest rates. The company loan is an upfront-priced loan which means you be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for company loans rates depend on a variety of factors such as the amount that is that is borrowed, what business assets the money will be used for and the sector the business is in, how long the company has been running and whether the business has sufficient cash flow to fund the loan, as well as the overall health or financial standing of the business.
There aren’t any hidden costs with our company loans, and you’ll know precisely what you’ll need to pay, and when, right from the first day. There’s not any compounding interest and there are no additional charges (as as long as you pay your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay all of your advance loan at any time.
If you decide to do this please call our helpful company loan experts. They will provide you with repayment details and an early payment figure. It will be calculated using the total of the principal remaining and accrued interest to the time of early payment in addition to 1.5% of the principal remaining and any fees that remain unpaid.
To make sure that you don’t miss payments and to work with your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your designated business account.
Protecting your information, and being transparent about how we collect the information we collect, use, share and ensure the security of your information is crucial and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We make use of an advanced bank verification system to instantly verify your bank account information online. This allows us to offer quick responses.
Asset-based borrowing occurs when the business owner borrows from an asset they own to make the funds for a loan. The asset may be an individual property, such as the family home, or it could be a company asset such as a truck or piece of equipment.
The vast majority of banks, including the major banks, prefer to make loans secured by assets. If you’re having trouble paying back the loan then your assets could be sold by the lender. In essence it’s a way of securing additional financing using the value of what you already own.
For loans of up to $150,000, there is no requirement for asset security before you are able to access the money however, we do require an individual guarantee. As long as you follow your loan commitments (as stipulated in the loan contract) the security of assets is not needed. For loans of over $150,000 generally, there is the option of a personal ensure and security is provided in the form of charges on assets.
