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? Check out the conditions of eligibility for our $100K to $500K business loans.
All that’s required to get started is your contact information (the name of your company, your name, email or phone number) as well as the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are but not before we can begin:
After we start, for loans over $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 month and cash flow friendly repayments, which are either daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and the funds could be on your account within 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. The company loan is a cash-based loan so you will be aware of the total amount payable including the interest, fees and charges. This is then divided into a daily or weekly amount to be paid back.
A Small Business Loan can be used for almost every business purpose including managing cash flows, business improvements, advertising to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size the company needs to be operating for at least three years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Larger Business Loan is a great option for almost all business reason, such as business renovations, purchase of equipment or inventory for general working capital and much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. This is as a result of an charge on assets, and may include the registration of this on the PPSR or making as a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature, rather than specifying the security for a particular asset. The person signing the guarantee is personally responsible if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be granted depending on the date that a security interest has been registered.
A caveat is a legal document that is filed to provide notice of a legal claim to property.
If you’re requesting the Larger Business Loan of $250,000 or more, we may offer a preliminary pre-approval to help ease the process. It is possible to do this without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves the answer to a series of financial health questions. It’s not an offer or guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer you might receive could be on different conditions.
You may be eligible for a business loan if you
The process for applying is fast and simple. Simply complete the online form in just a few minutes, and a dedicated business lending specialist will be in touch to assist you.
To apply for up $100,000, you’ll require identification details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Application details including credit consent as well as 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer within one hour if you make your application in quality business hours and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can offer an answer within just an business day.
For the Larger Business Loan ($100K up to $500,000) we might be capable of provide you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval document, you will require to wait about 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Some agreements have been approved in the space of 24 hours.
The fastest way can be make sure you apply during standard company hours and let us use the advanced bank verification system to check your bank’s information online. If you choose to upload the copies of bank statements it can take a bit longer.
For the Small Business Loan ($5K or more) we usually provide a response in one hour, provided you make your application at standard business hours and let us use the bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements we can offer a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K or more) We may be likely to provide you with 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 it could be faster based on the specifics of each application. Certain offers have been approved within just 24 hours.
The most efficient method can be make sure you apply during standard business hours. You can also allow us to use the advance bank verification to verify your bank account information online. If you opt to upload the copies of bank statements it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a certain amount we consider a variety of factors that determine the health of the company and the extent of payments your company is able to afford. The total amount of your loan will be contingent on the specific circumstances for your company.
When you apply for a set amount, we take into consideration a variety of aspects to assess the health of the business and the level of repayments that your business will be able to support. The total amount of your loan will be determined by the specifics the company.
When you request the company financing, we will assess the risk profile of your company and provide you with a customised proposal that includes loan amount, term and interest rates. A company loan is a loan that is priced upfront and you’ll be aware of the total amount due, which includes any charges or interest.
Business loan interest rates differ based on various factors including the amount borrowed, the company assets the funds will be used for as well as the field the company is in, how long the company has been operating as well as whether the company has enough cash flow to fund the loan, and also the general health and creditworthiness of the business.
There are no hidden fees for our business loans, and you’ll be aware of the amount it is that you need to pay and when, right from the day you sign up. There’s not any compounding interest and no extra fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You can make an application for loans with absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can repay the entire amount of your loan in full at any time.
If you decide to do this please call our helpful company loan professionals. They will provide you with the details of your repayment and an early payout figure. This is calculated as the sum of the principal remaining and the accrued interest up to the time of early payout plus 1.5% of the principal remaining and any fees that remain unpaid.
To ensure you do not miss payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your company account.
Making sure that your information is secure, and making it clear the ways we gather data, process, exchange and protect your information, is of paramount importance and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to customer security and privacy. We employ a highly sophisticated bank verification system that allows you to instantly verify your bank account information online. This allows us to offer quick responses.
An asset-based loan is when an company owner borrows from assets they own to make the funding. The asset could be a personal asset like the family home or an company asset like a truck or piece of equipment.
The majority of banks, even the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan, then the asset could be sold by the lender. In essence it’s a way of securing new financing by making use of the value of what you already have.
For loans of up to $150,000, there is no requirement for asset security upfront to access the money, however we do need an individual guarantee. As long as you follow the terms of your loan (as detailed in your loan contract) Asset security will never be required. If you take out loans in excess of $150K generally there is a personal guarantee and security in the form of a charge over assets.
