The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K-$500K business financing.
All that’s required to begin is your contact details (company name, your name, email and phone), how much you’d like to lend, and your monthly revenue.
In the course of the process and before settlement we will require confirmation of your identity, but not to get started:
Additionally after we get started, for loans that exceed $150,000, you’ll require the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes online or over the phone, receive an instant response and the money could be on your account within 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. Our business loan is a cash-based loan therefore you’ll know ahead of time the total amount to be paid, including any interest, fees or charges. Then, it is divided into a daily or weekly installment amount.
It is a Small Business Loan can be used for virtually every company reason, such as control of cash flow business improvements, advertising to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your business needs to be in operation for at least 3 years, and have an annual income of at least $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large business loan can be used for nearly every business reason, such as company remodeling, buying inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is required to access funding over $150,000. This is as a result of an charge on assets, and may include registration with the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature rather than stating the security of a specific asset. The person who signs the guarantee is personally accountable if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR grants the priority of personal property assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official form of document to offer the public notice of a legal claim on a property.
If you’re requesting an enterprise loan of more than $250K, we may offer an initial pre-approval that will help ease the process. We could be able to apply for this without a credit check and within six hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial health checks. It’s in no way an offer, nor is it a guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer that you might receive could be on different conditions.
You may be eligible for a business loan if you
The application process is fast and easy. Complete the online form in few minutes and a dedicated business credit specialist will call you to guide you through the process.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we typically offer an answer within one hour – as long as you submit your request in standard company times and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your banking statements we can offer an answer within one business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Some agreements have been approved in 24 hours.
The quickest way to apply can be ensure you apply during standard business hours and permit us to use the advance bank verification link to instantly confirm your bank details online. If you choose to send us duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K or more) we usually offer an answer within one hour – provided you submit your request within standard business hours and allow us to use the bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statement, we’ll offer a decision in as little as an business day.
For Larger Business Loans ($100K or more) We may be likely to provide you with a conditional pre-approval in about six hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, it could be faster based on the circumstances of each application. Certain transactions have received approval within 24 hours.
The quickest method can be make sure you apply during normal business hours. Also, let us use the modern bank verification to verify your bank account information online. If you send us copies of your bank statements it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we take into consideration a range of variables in order to assess the health of the business and the amount of payments your company will be able to support. The total amount of the loan will be determined by the specific circumstances the business.
When you submit an application for a set amount, we take into consideration a variety of factors to assess the well-being that is your company as well as the amount of repayments that your company can afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your company.
If you decide to apply for business loans with us business financing, we’ll assess the risk profile for your company and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. A company loan is a loan that is priced upfront and you’ll know the exact amount you will have to pay, including charges or interest.
The interest rates on business loans rates vary due to variables like the amount to be of money borrowed, the company assets the money will be used for in addition to the industry that the business operates in, the long the business is in operation as well as whether the company has enough cash flow to cover the loan, and general health or financial standing of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely what you’ll be required to pay and when, right from day one. There’s no compounding and the loan comes with no additional fees (as long as you make your payments on time).
We don’t charge an application fee. You can make an application for loans no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved in establishing 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% of the loan amount.
You can decide to repay the total amount of your loan in full at any time.
If you do decide to pursue this option, please speak to our friendly business loans professionals. We will provide you with the details of your repayment and an early payment figure. This is calculated as the sum of the principal balance and any accrued interest at the time of the early payout and 1.5 percent of the principal balance and any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your nominated company account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and secure your information, is vital and is a crucial part of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We utilise a sophisticated bank verification system link to immediately verify the bank account details online. This allows us to provide quick responses.
An asset-based loan is when a business owner utilises an asset they own to secure the loan. The asset could be a personal asset like the family home or a company asset such as a vehicle or piece or equipment.
The vast majority of lending institutions, including the major banks, prefer to secure loans against an asset. If you’re having trouble paying back the loan then the asset could be sold by the lender. In essence it’s an opportunity to secure new funding using the value of what you already have.
For loans up to $150,000 there is no requirement for asset security before you can access the money but we do require a personal guarantee. In the event that you fulfill the loan terms (as detailed in the loan contract), asset security will never be needed. For loans that exceed $150,000, generally, there is an individual ensure and security in the form charges on assets.
