The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the conditions of eligibility for our $100K to $500K company loan.
All you need for starting is your contact information (company name, your name, email, phone), how much you’d like to borrow and your monthly revenue.
Through the process and before settlement we’ll require confirmation of who you are but not for starting:
After we start with loans over $150,000 you’ll require fundamental financial statements:
Let’s get started now.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
It is possible to apply to get the Small Business Loan in under 10 minutes via the internet or over the phone, receive an answer within the same day and funds may be in your account in 24 hours. Traditional business loans refer to an interest rate per annum plus other fees and charges. Our company loan is a cash-based loan and you’ll be aware in advance of the total amount payable including any fees, interest or charges. Then, it is divided into weekly or daily payment amount.
A Small Business Loan can be used for virtually any business need, such as managing cash flows, company renovations, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. The repayments are made weekly or fortnightly to work with 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 credit in this amount, your company needs to be operating for a minimum of 3 years and generate an annual revenue of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost every business need, including company improvements, purchasing inventory or new equipment as well as for general working capital and much more. The loan is not available for personal use.
Asset security is needed for funding of more than $150,000. This can be done by taking a charge on assets and can include registering this with the PPSR or registering as 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 an asset. The person signing the ensure is personally accountable if the business the borrower fails to repay the debt.
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 gives priority over personal property to be granted in accordance with the date on which a security interest has been registered.
A caveat is a legal document lodged to provide the legal claim on a property.
If you’re applying for larger business loans of $250K or more we can offer an initial pre-approval that will help smooth out the process. We may be able to do this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial well-being questions. It’s in no way an offer, nor is it a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer that you receive could have different conditions.
You can apply for a company loan if you;
The application process is simple and easy. Just complete the online application in few minutes and an experienced company lending specialist will contact you to guide you through the process.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statement and the last two years’ finalised financial statements, and interim current financial year financials including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer within an hour if you make your application at standard business time and let us use the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can offer a decision in as little as an business day.
For Larger Business Loans ($100K or more) we may be able to provide you with conditional pre-approval within 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Some agreements have been approved in the space of 24 hours.
The most effective method would be to make sure you apply during normal business hours, and let us use the advanced bank verification system link to verify your bank account information online. If you choose to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour – as long as you make your application at standard business time and allow us to use the bank verification system link to immediately verify your bank account information online. If you choose to send us copies of your bank statement, we’ll offer an answer in just an business day.
For Larger Business Loans ($100K and up) we may be in a position to offer you with pre-approval conditional to your application within about six hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours, and allow us to use our advanced bank verification system to confirm your bank details online. If you send us documents from your account statement, it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a specific amount we look at a variety of aspects that determine your health that is your company as well as the amount of payments your business can afford. The amount you receive from your loan will depend on the particular circumstances of your business.
When you make an application for a specific amount we take into consideration a variety of elements to assess the health of your company and the amount of repayments that your business can support. The total amount of your loan will depend on the specific circumstances the business.
When you apply for one of our business credit, we’ll assess the risk profile the company and offer you with a tailored offer that includes the amount of the loan, the duration and the interest rates. The business loan is an upfront priced loan therefore you will know the exact amount payable including any costs, fees, or interest rates.
Interest rates for business loans rates differ based on various factors including the amount borrowed, what business assets the money are used to purchase and the sector the company is operating in, how long the company has been running for, how long the business has sufficient cash flow to pay for the loan, as well as the general well-being or financial standing of the company.
There aren’t any hidden charges with our company loans. You’ll know precisely how much you’ll be required to pay and when, right from the first day. There’s not any compounding interest and no extra fees (as as long as you pay your payments in time).
We don’t charge an Application Fee. You can apply for a loan with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this fee if you 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 your loan at any point in time.
If you choose to do this please speak to our friendly company lending professionals. The experts will offer you with details on repayment along with an early payout estimate. This is calculated as the total of the principal amount remaining and accrued interest to the time of the early payout plus 1.5 percent of the remaining principal and any fees that remain unpaid.
To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either weekly or daily. These are automatically withdrawn from your designated company account.
Making sure that your information is secure, and making it clear the ways we gather, use, exchange and secure your information, is of paramount importance and an integral part of our relationship you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We use an advanced banking verification system to immediately verify your bank account details online. This allows us to provide an immediate response.
The term "asset-based" refers to borrowing where a business owner utilises assets they own to obtain a loan. The asset can be a personal asset like the family home or an business asset such as a vehicle or other piece of machinery.
The vast majority of lending institutions, not just the major banks, prefer to guarantee loans against an asset. If you have trouble paying back the loan then the asset could be offered for sale by the lender. In essence, it’s an opportunity to secure new financing by taking advantage of the value of what you already have.
For loans that exceed $150K, it is not necessary to secure assets in advance to gain access to the funds however, we do need an individual guarantee. So long as you comply with the loan terms (as stated in your loan contract document) the security of assets is not needed. For loans of over $150K generally there is personal guarantee and security that is in the form charges on assets.
