The criteria for eligibility for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K company loan.
All that’s needed to start is your contact information (the name of your company and your name, as well as email or phone number) and the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we’ll require confirmation of your identity but not to get started:
Once we’ve started when it comes to loans greater than $150,000 you’ll also need basic financial statements.
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
Apply for the Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the funds could be in your account in 24 hours. Traditional business loans have an annual interest rate together with additional fees and charges. Our company loan is a pre-paid loan which means you know in advance the total amount payable including any fees, interest or charges. This is then broken down into either weekly or daily repayment figure.
It is a Small Business Loan can be used for virtually any business reason, such as the management of cash flow, business renovations, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support company growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To qualify for a loan that is this large the business needs to be in operation for at least 3 years and generate an annual revenue of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (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 almost all company purpose including company renovations, to purchase inventory or new equipment as well as for general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary for accessing funds over $150,000. It’s by taking a charge against assets, and could include registering this on the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to repay credit that is generally based rather than defining security over a particular asset. The person signing the ensure is personally liable in the event that the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including items or assets). The PPSR permits preference over private property granted according to the date the security interest was registered.
Caveats are legal document lodged to offer the legal claim against a property.
When you’re applying for larger business loans that exceeds $250K we may be able to provide an initial pre-approval that will help ease the process. We might be able to get this done without credit checks and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial well-being checks. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer you receive could have different terms.
You may apply for an company loan if you;
The process for applying is fast and easy. Just fill out the online application within a few minutes and a dedicated company loan specialist will be in touch to guide you through the process.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License), a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent, 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, and interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) We can usually provide an answer within one hour – as long as you submit your request within quality business hours and you allow us to utilise the bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements we can offer the decision within one company day.
For the Larger Business Loan ($100K to $500K) we may be capable of offer you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Some deals have been approved within the space of 24 hours.
The quickest method can be make sure you apply during normal business hours, and allow us to use our modern bank verification to instantly check your bank’s information online. If you decide to upload copies of your bank accounts, it can take a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within one hour, provided you apply in standard business hours and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statements we can offer the decision within an business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be capable of provide you with a 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 this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The quickest method would be to ensure you apply during normal business hours. Also, let us use the advanced bank verification system link to instantly confirm your bank details online. If you decide to send us the copies of bank statement, it can take a bit longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a certain amount, we look at a variety of variables to determine the well-being of your company and the level of payments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances for your company.
When you apply for a particular amount, we look at a range of factors to assess your well-being of the company and the level of the repayments your business can support. The amount you receive from your loan will depend on the particular circumstances the company.
When you apply for our company loans, we’ll assess the risk assessment that you have for your business and provide you with a tailored offer that includes loan amount, term and interest rates. A company loan is an upfront-priced loan and you’ll be aware of the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates depend on a variety of variables like the amount to be that is borrowed, what business assets the funds are used to purchase as well as the field the company is operating in, how long the company is in operation for, how long the company has enough cash flow to fund the loan, as well as the overall well-being or financial standing of the business.
There aren’t any hidden charges with our company loans. You’ll know exactly how much it is that you be required to pay, and when, from the first day. There’s not any compounding interest and there are no additional charges (as as long as you pay your payments in time).
We do not charge an Application Fee. You can request a credit loan with without any upfront costs or commitment to apply.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can repay the entire amount of your loan in full at any time.
If you do decide to do this please contact our helpful business lending specialists. They’ll offer you with the details of your repayment and an early payment figure. This is calculated as the total of the remaining principal amount and any accrued interest at the date of early payout and 1.5% of the principal remaining as well as any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your nominated company account.
Protecting your information, and being clear about how we collect, use, exchange and ensure the security of your information is of huge importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to security for our clients and security. We use an advanced bank verification system to instantly verify your bank account information online. This allows us to provide a fast response.
Asset-based borrowing is when an business owner makes use of assets they own to obtain the loan. The asset can be either an asset belonging to the personal, like the family home, or an company property like a truck or piece of equipment.
The vast majority of the lenders even the banks with the biggest size, prefer to secure loans against an asset. If you have trouble paying back the loan, then your assets could be taken over by the lender. In essence, it is means of securing new funding making use of the value of what you already have.
For loans of up to $150K, there is no requirement for asset security before you can access the money but we require a personal guarantee. need a personal guarantee. As long as you follow your loan commitments (as stated in your loan contract), asset security is not required. For loans over $150,000 generally there is the option of a personal guarantee and security in the form of the charge of assets.
