The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Do you need more money? Take a look at the guidelines for eligibility for our $100K to $500K company financing.
All you need to get started is your contact details (company name, your name, email and phone) as well as the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll require confirmation of your identity however, not in order to begin:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll also require the following financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and the funds could be in your account within 24 hours. Traditional business loans are based on an interest rate per annum as well as other fees and charges. The business loan is a cash-based loan so you will be aware in advance of the total amount to be paid, including any fees, charges or charges. This is then broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used to fulfill almost any company use, including control of cash flow business remodels and marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support company expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan of this size the company needs to be operating for a minimum of 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for nearly all company use, including company renovations, to purchase equipment or inventory as well as for general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed to access funding over $150,000. It’s by way of charge against assets and can be registered in the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature, rather than specifying security over an asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It reflects 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 in accordance with the date on which a security interest that is registered.
Caveats are legal document lodged to offer the public notice of a legal claim against a property.
If you’re requesting the Larger Business Loan of $250K or more we may be able to provide an initial pre-approval to smooth out the process. We may be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering some financial health questions. It is not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you might receive could be subject to different terms.
You may apply for a business loan if you
The application process is quick 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 need proof of identity (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll also need:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent as well as 12 months of bank records, IRD statements, last 2 years finalised financial statements, plus interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) we can often offer a response in one hour, provided you submit your request at quality business hours and permit us to utilise the bank verification system to immediately verify your bank account information online. If you opt to send us copies of your bank statements we can offer a decision in as little as one company day.
For Larger Business Loans ($100K up to $500,000) we might be able to provide you with conditional pre-approval within about six hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Certain deals have been approved within just 24 hours.
The quickest method would be to make sure you apply during normal business hours, and permit us to use the advance bank verification link to instantly confirm your bank details online. If you opt to upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K or more) we typically offer a response in one hour, provided you make your application during normal business timings and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements, we’ll be able to provide an answer in as little as one business day.
For Larger Business Loans ($100K to $500K) we might be able to offer you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Certain deals have been approved in less than 24 hours.
The quickest method is to ensure you apply during standard business hours, and allow us to use our modern bank verification link to instantly check your bank’s information online. If you choose to send us copies of your bank accounts, it may take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a specific amount we look at a variety of factors to determine your health of your business and the extent of payments your company is able to afford. The total amount of the loan will be determined by the specifics for your business.
If you apply for a set amount, we look at a range of elements to assess the health for your company and the amount of repayments that your company will be able to support. The total amount of your loan will be determined by the particular circumstances that are unique to your business.
If you decide to apply for our business loans, we’ll assess the risk assessment for your business and offer an individualised proposal that includes loan amount, term and the interest rates. The business loan is an upfront-priced loan and you’ll know the exact amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates vary due to variables like the amount to be of money borrowed, the company assets the money are used to purchase, the industry the company is in, how long the company has been in operation and in the event that the business has sufficient cash flow to fund the loan, and the general health or financial standing of the company.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you be required to pay, and at what time, from the day you sign up. There’s no compounding and no extra fees (as long as you make your payments punctually).
We do not charge an Application Fee. You can apply for a loan with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the costs associated with setting up and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back the entire amount of the loan early at any time.
If you do decide to do this please call our helpful company credit specialists. The experts will provide you with details for repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and any accrued interest at the time of early payout in addition to 1.5% of the remaining principal and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your nominated business account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and safeguard your data, is vital and is a crucial part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We utilise a sophisticated banking verification system to instantly verify the bank account details online. This allows us to provide rapid response.
The term "asset-based" refers to borrowing where an business owner makes use of assets they own to make a loan. The asset may be an individual asset, such as the family home, or it could be a business asset such as a truck or piece of equipment.
The vast majority of lending institutions, even the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan, then the asset could be transferred to the lender. In essence, it is the process of securing new financing by taking advantage of the value of what you already have.
For loans of up to $150,000, there is no requirement for asset security in advance to gain access to the funds, however we do require an individual guarantee. If you adhere to your loan commitments (as specified in your loan contract) the security of assets is not needed. For loans of over $150K generally there is the option of a personal ensure and security in the form charges on assets.
