The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company loans.
All that’s required to start is your contact information (company name, your name, email and telephone), how much you’d like to borrow and your monthly earnings.
In the course of the process and before settlement we’ll require confirmation of who you are but not for starting:
Once we’ve started in the process, for loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
You can apply for your Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and funds may be in your account in 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 so you will be aware of the total amount to be paid, 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 for nearly any company use, including cash flow management, company improvements, advertising, to purchase inventory or new equipment, to fund 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 business growth opportunities. Loans range from $100,000 to $500,000 with a term fixed for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To qualify for a loan that is this large, your business needs to have been operating for at least three years with an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost every company use, including company renovations, to purchase new equipment or inventory as well as for general working capital and much more. The loan is not available for personal reasons.
Asset security is required to access funding over $150,000. This can be done as a result of an charge against assets, and could include registration on the PPSR or registering as a caveat.
A director’s or personal ensure is a promise to repay credit that is generally based rather than defining the security of a specific asset. The person who is signing the guarantee is personally accountable if the company the borrower fails 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 reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR permits the priority of personal property granted according to the date the security interest has been registered.
The caveat can be described as a formal form of document to provide the public notice of a legal claim against a property.
If you’re requesting larger business loans that is greater than $250,000, we may 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. This pre-approval is based on an initial assessment that includes the answer to a series of financial health checks. It is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you receive could be on different conditions.
You may be eligible for a business loan if you:
The application process is quick and simple. Complete the online form within a couple minutes, and a dedicated company credit specialist will be in touch to guide you through the process.
To apply for up $100,000, you’ll require the right identification documents (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Details of 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 and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) We can usually provide a response in one hour – as long as you apply during quality company timings and permit us to utilise the bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statements , we are able to offer a decision in as little as an company day.
For Larger Business Loans ($100K and up) we could be capable of provide you with conditional pre-approval in around 6 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 on the circumstances of each application. Some deals have been approved in less than 24 hours.
The most efficient method can be make sure you apply during standard business hours and permit us to use the advanced bank verification system to instantly verify your bank account information online. If you opt to upload documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within one hour – provided you apply in standard business time and allow us to use the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements, we are able to offer an answer in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we might be likely to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some transactions have received approval in less than 24 hours.
The quickest method is to ensure you apply during standard business hours, and let us use the advanced bank verification system to instantly verify your bank account information online. If you upload the copies of bank accounts, it may take a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a certain amount we consider a variety of variables for determining how much we can lend you health that is your business and the amount of repayments your company can afford. The total amount of the loan will be determined by the specifics of your company.
When you make an application for a particular amount, we consider a variety of aspects to assess the well-being that is your company and the level of payments your company will be able to support. The amount you receive from your loan will be determined by the particulars of your business.
If you decide to make an application for our business loan, we will assess the risk assessment for your company and offer you with a customised offer, including the amount of the loan, the duration and the interest rates. A company loan is a loan that is priced upfront and you’ll be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for business loans rates differ based on various factors such as the amount that is that is borrowed, what business assets the funds will be used for, the industry the company operates in, the long the company has been operating and whether the business has enough cash flow to pay for the loan, and the overall health or financial standing of the business.
There are no hidden costs for our company loans. You’ll be aware of the amount it is that you be required to pay and when, starting from day one. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the entire amount of your loan early at any time.
If you decide to do this please talk to one of our helpful business loan experts. They will offer you with the details of your repayment and an early payment figure. The figure will be calculated as the sum of the principal amount remaining plus any accrued interest as of the time of the early payout and 1.5 percent of the principal amount remaining and any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. They are automatically deducted from your designated company account.
Protecting your information, and being transparent about the ways we gather information, use it, and exchange it, as well as protect your information, is of huge importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to protecting the security of clients and security. We utilise a sophisticated bank verification system to instantly verify your bank account information online, allowing us to provide an immediate response.
Asset-based borrowing is when an business owner borrows from the assets they have to secure a loan. The asset can be an asset belonging to the personal, like the family home or an company asset such as a truck or piece of equipment.
The majority of banks, including the big banks, tend to guarantee loans against assets. If you’re struggling to pay back the loan then your assets could be taken over by the lender. In essence, it is the process of securing additional financing taking advantage of the value of what you already have.
For loans that exceed $150K, no asset security is required in advance to gain access to the funds however, we do require an individual guarantee. In the event that you fulfill the loan terms (as detailed in the loan contract) the security of assets will never be needed. For loans over $150K generally, there is the option of a personal guarantee and security in the form of charges on assets.
