The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K business financing.
All that’s needed to begin is your contact information (the name of your company, your name, email, phone), how much you’d like to borrow and your monthly earnings.
During the process and before settlement we will require confirmation of your identity, but not to get started:
After we start in the process, for loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
The application for your Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and the money could be in your account in 24 hours. Traditional business loans refer to an annual rate of interest plus other fees and charges. The company loan is a pre-paid loan therefore you’ll be aware in advance of the total amount payable including any fees, charges or charges. This is then divided into a daily or weekly repayment figure.
A Small Business Loan can be used for nearly every company purpose including control of cash flow business remodeling, marketing to purchase inventory, new equipment, to fund general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
To qualify for a loan in this amount, your business needs to be operating for at least three years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large business loan can be used for almost any business reason, such as company renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary for accessing funds over $150,000. It is usually in the form of a charge against assets, and could include registering this in the PPSR or making a caveat.
A personal or director’s ensure is a guarantee to repay a loan which is general in nature rather than stating security over an asset. The person who signs the guarantee is personally responsible if the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR gives priority over personal property to be assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official document that is filed to provide notice of a legal claim against a property.
If you’re requesting a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval to smooth out the process. We may be able to do this without a credit check and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being checks. This is neither an offer nor a guarantee of funds. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could be on different terms.
You may apply for a business loan if you;
The application process is quick and simple. Simply complete the online form within a couple minutes, and a dedicated company loan specialist will be in touch to guide you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s Licence) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent, 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, in addition to interim current financial year financials as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) we can often offer an answer within one hour – as long as you make your application within quality company hours and let us utilise the bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statement, we’ll offer a decision within an company day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this could be shorter based on the specifics of each application. Some offers have been approved in 24 hours.
The quickest way to apply for you to apply is ensure you apply during standard company hours and let us use the advanced bank verification system link to instantly check your bank’s information online. If you decide to upload duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer within an hour – provided you apply within normal business hours and permit us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your banking statements we can provide the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we might be able to provide you with conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain offers have been approved within the space of 24 hours.
The fastest way would be to make sure you apply during normal business hours and allow us to use our sophisticated bank verification to confirm your bank details online. If you send us copies of your bank statement, it may take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you submit an application for a particular amount, we look at a variety of aspects for determining how much we can lend you well-being for your company as well as the amount of repayments your business can support. The total amount of your loan will be contingent on the specifics of your company.
When you make an application for a specific amount we consider a variety of elements to assess how much we can lend you such as health of your company as well as the amount of the repayments your company can support. The amount you receive from the loan will be determined by the particulars the business.
When you apply for the business financing, we will assess the risk assessment the business and provide you with a customised offer that includes loan amount, term and interest rates. The business loan is a loan that is priced upfront so you will be aware in advance of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for business loans rates depend on a variety of factors including the amount that is borrowed, what company assets the funds are used to purchase, the industry the company is operating in, how long the company has been in operation as well as whether the business has enough cash flow to fund the loan, and the general well-being or financial standing of the business.
There aren’t any hidden costs with our business loans. You’ll be aware of the amount you’ll need to pay, and when, from the day you sign up. There’s no compounding interest and there are no additional charges (as as long as you pay your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can choose to repay the total amount of your loan early at any time.
If you are deciding to do this please contact our helpful business loans specialists. We will provide you with details on repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout plus 1.5 percent of the principal amount remaining plus any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your designated company account.
Making sure that your information is secure, and making it clear how we collect data, process, exchange and safeguard your data, is crucial and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We utilise a sophisticated bank verification system link to immediately verify the bank account details online so we can provide an immediate response.
The term "asset-based" refers to borrowing where an company owner makes use of assets they own to get the loan. The asset can be either an individual asset, such as the family home, or an business asset such as a truck or piece of equipment.
The majority of lenders, even the banks with the biggest size, prefer to make loans secured by assets. If you’re struggling to pay back the loan, then your assets could be offered for sale by the lender. In essence, it’s means of securing new funding making use of the value of what you already have.
For loans up to $150K there is no requirement for asset security upfront to access the money but we do require the personal guarantee. As long as you follow your loan obligations (as detailed in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans over $150,000 typically, you will need a personal guarantee and security in the form an asset charge.
