The requirements for obtaining 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-$500K company financing.
All you need to get started is your contact information (company name, your name, email and telephone) as well as the amount you’d like to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of your identity, but not for starting:
Once we’ve started when it comes to loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and have the funds on your account within 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. This company loan is a loan that is priced upfront which means you know in advance the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually every business need, such as managing cash flows, company remodeling, marketing, to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a credit in this amount the business needs to have been in operation for at least 3 years, and have an annual income of $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A Business Loan of a larger size can be used to fund almost every business use, including business renovations, to purchase new equipment or inventory as well as for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary for funding of more than $150,000. This is by taking a charge over assets and can include registration through the PPSR or the registration of as a caveat.
A director’s or personal ensure is a commitment to repay credit that is generally based rather than defining security over a particular asset. The person who signs the ensure 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 records security interests that have been registered in respect of personal property (including objects or assets). The PPSR grants the priority of personal property assigned in accordance with the date on which a security interest was registered.
Caveats are legal document filed to provide the legal claim to a property.
If you’re seeking the Larger Business Loan that exceeds $250,000 it is possible to offer a preliminary pre-approval to help ease the process. We might be able to make this decision without a credit check and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial health questions. This is not an offer or guarantee of financing. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you might receive could be subject to different conditions.
You are eligible to apply for a company loan if you
The application process is quick and simple. Simply complete the online form within a few minutes and a dedicated business lending specialist will contact you to guide you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s Licence) and an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent twelve month bank accounts, the IRD statement Last 2 years’ finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) we usually offer an answer in just one hour – as long as you apply during standard business timings and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you choose to send us copies of your bank statements , we’ll be able to offer the decision in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be able to offer you with conditional pre-approval in around 6 hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Certain agreements have been approved in the space of 24 hours.
The quickest way to apply is to ensure you apply during standard business hours and let us use the modern bank verification to verify your bank account information online. If you decide to upload copies of your bank statement, it takes a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer in just one hour – provided you apply in standard business timings and permit us to use the bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements, we’ll be able to provide the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K and up) we might be in a position to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, this can be faster depending on the specifics of each application. Some deals have been approved in less than 24 hours.
The fastest way is to ensure you apply during normal business hours and allow us to use the advanced bank verification system to confirm your bank details online. If you decide to upload documents from your account statements, it will take a little longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a particular amount, we will consider a number of elements to determine the health of your company and the extent of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances the company.
When you apply for a particular amount, we look at a range of aspects to determine the well-being that is your business and the amount of repayments that your business can support. The amount you receive from your loan will be contingent on the specific circumstances the company.
When you apply for our business loan, we’ll assess the risk profile the company and offer you with a customised offer that includes the amount of loan, the term and the interest rates. A business loan is an upfront-priced loan therefore you will know the exact amount you will have to pay, including charges or interest.
Interest rates for company loans rates differ based on various factors including the amount borrowed, what business assets the funds will be used for as well as the field the company is operating in, how long the company has been running as well as what percentage of the company has sufficient cash flow to support the loan, as well as the overall well-being or financial standing of the company.
There aren’t any hidden costs with our company loans. You’ll know precisely what you be required to pay, and when, from the very first day. There’s no compounding interest and no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to make an application for loans absolutely no upfront cost and no obligation to proceed.
The Origination Fee is the cost associated with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the total amount of your loan in full at any time.
If you decide to take this route, please contact our helpful company lending experts. They will provide you with details for repayment and an early payment figure. This will be calculated as the total of the principal balance and accrued interest to the time of early payment in addition to 1.5 percent of the principal remaining and any fees that remain unpaid.
To make sure you do not miss payment dates and to align your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your nominated company account.
Security of your data, and knowing how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and is a crucial part of our relationship you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We make use of an advanced banking verification system to instantly verify the bank account details online to provide a fast response.
The term "asset-based" refers to borrowing where a company owner borrows from an asset they own to make a loan. The asset may be an individual asset, such as the family home or a business asset such as a truck or piece of equipment.
The majority of lending institutions, not just the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan, then the asset might be transferred to the lender. In essence it’s means of securing additional financing using the value of what you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds however, we require a personal guarantee. need a personal guarantee. If you adhere to your loan commitments (as detailed in your loan contract document) and you are able to meet your obligations, asset security is not needed. For loans of over $150,000 generally, there is an individual guarantee and security is provided in the form of charges on assets.
