The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K company financing.
All that is needed to start is your contact information (company name, your name, email and phone) along with the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
Additionally after we get started in the process, for loans greater than $150,000 you will also need basic financial statements.
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and funds may be on your account within 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. The company loan is a pre-paid loan so you will know in advance the total amount due, which includes any fees, interest or charges. This is then divided into a daily or weekly installment amount.
It is a Small Business Loan can be used for nearly any business reason, such as control of cash flow business renovations, marketing 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 size loan to aid in business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly, depending on you cashflow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan in this amount, your company needs to be operating for at least three years with an annual turnover of $700,000. It is necessary to 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 demonstrate at the least 12 months of operating.
A Business Loan of a larger size can be used to fund almost every company use, including business improvements, purchasing inventory or new equipment as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is needed for funding of more than $150,000. This is in the form of a charge on assets and can be registered on the PPSR or making a caveat.
A director’s or personal ensure is a promise to repay a loan which is general in nature, rather than defining security over a particular asset. The person who is signing the ensure is personally liable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including items or assets). The PPSR grants the priority of personal property assigned according to the date a registration of a security interest.
A caveat is a legal document that is filed to offer an official notice of a claim on a property.
When you’re applying for an enterprise loan that is greater than $250K, we may offer an initial pre-approval to simplify the process. We could be able to make this decision without credit checks 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 well-being checks. This is in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you may receive may have different terms.
You may apply for a company loan if you
The application process is quick and simple. Just fill out the online application within a couple minutes, and an experienced business credit specialist will call you to assist you.
To apply for up $100,000 you’ll need ID details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent twelve months of bank statements, IRD statement and the last two years’ finalised financial statements, as well as interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) We can usually offer a response in one hour – as long as you apply during quality company times and you allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your banking statements we can offer a decision within just 1 company day.
For the Larger Business Loan ($100K and up) we may be able to offer the conditional pre-approval within about 6 hours. Once you have signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Some transactions have received approval within 24 hours.
The most effective method can be make sure you apply during normal business hours, and let us use the modern bank verification link to instantly verify your bank information online. If you decide to send us copies of your bank accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer in just one hour if you submit your request within standard business time and permit us to utilise the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statement, we’ll offer the decision in just one business day.
For the Larger Business Loans ($100K to $500K) we might be in a position to provide you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based upon the circumstances for each application. Some transactions have received approval in just 24 hours.
The most efficient method is to make sure you apply during standard business hours. You can also allow us to use our advance bank verification link to instantly check your bank’s information online. If you choose to send us copies of your bank statement, it takes a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a specific amount we will consider a number of elements in order to assess your well-being that is your company and the level of repayments your company can support. The total amount of the loan will be determined by the specific circumstances the company.
When you submit an application for a set amount, we look at a range of aspects to assess your health that is your company as well as the amount of repayments your business will be able to support. The total amount of your loan will be contingent on the specific circumstances for your business.
When you apply for one of our business financing, we will assess the risk profile that you have for your company and offer an individualised offer, including the amount of the loan, the duration and the interest rates. A business loan is an upfront priced loan therefore you will be aware in advance of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for company loans rates vary due to factors including the amount of money borrowed, the business assets the money will be used for and the sector the company operates in, how long the company has been running as well as in the event that the business has sufficient cash flow to support the loan, and also the general health or creditworthiness of the company.
There are no hidden fees for our company loans. You’ll know precisely what you be required to pay, and when, from the very first day. There’s no compounding and no extra fees (as long as you make your payments on time).
We don’t charge an Application Fee. You can apply for a loan with no cost upfront or commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You may choose to pay back the entire amount of the loan early at any time.
If you are deciding to pursue this option, please contact our helpful company loan professionals. We will provide you with the details of your repayment along with an early payout estimate. The figure will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of the early payout, plus 1.5 percent of the remaining principal as well as any outstanding fees.
To ensure you do not miss repayments and to fit in with your cash flow standard, we offer repayments either daily or weekly. They will be automatically deducted from your nominated business account.
Security of your data, and making it clear the ways we gather the information we collect, use, share and ensure the security of your information is of paramount importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We employ an exceptionally sophisticated bank verification system to instantly verify your bank account information online. This allows us to provide rapid response.
Asset-based borrowing is when the company owner utilises an asset they own to obtain a loan. The asset could be a personal asset like the family home or a company asset such as a truck or piece of equipment.
The vast majority of lenders, even the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan then your assets could be taken over 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 upfront to access the money but we require a personal guarantee. require an individual guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract document), asset security will never be required. For loans of over $150,000 generally, there is the option of a personal ensure and security in the form of an asset charge.
