The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K company credit.
All that’s needed to begin is your contact details (company name and your name, as well as email, phone) and the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of your identity but not to get started:
In addition, once we have started, for loans over $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 and cash flow-friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and have the funds available in just 24 hours. Traditional business loans refer to an annual rate of interest plus other fees and charges. We offer a company loan is a pre-paid loan and you’ll know in advance the total amount to be paid, including the interest, fees and charges. Then, it is broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly every company purpose including the management of cash flow, company remodeling, marketing to purchase inventory, new equipment, or as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans are between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
To be eligible for a credit of this size the business needs to be operating for at least three years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan can be used to fund almost every business reason, such as company improvements, purchasing new equipment or inventory or as general working capital, and much more. The loan is not available for personal purposes.
Asset security is required for accessing funds over $150,000. It is usually in the form of a charge against assets and can include registration through the PPSR or registering a caveat.
A personal or director’s ensure is a commitment to repay a loan which is generally based rather than stipulating the security of a specific asset. The person signing the guarantee is personally responsible if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including objects or assets). The PPSR allows the priority of personal property assigned according to the date the security interest was registered.
A caveat is a legal document filed to provide notice of a legal claim to property.
When you’re applying for larger business loans of more than $250,000, we may offer an initial pre-approval that will help make the process. It is possible to make this decision without a credit check, and within six hours of your initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial health checks. It’s in no way an offer, nor is it a guarantee of credit. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be on 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 in just a few minutes, and an experienced company credit specialist will contact you to help you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s License), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K or more) we typically provide an answer within an hour – as long as you submit your request in standard business time and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll provide the decision in as little as one company day.
For the Larger Business Loan ($100K to $500K) we might be capable of provide you with pre-approval conditional to your application within 6 hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this can be quicker based on the specifics of each application. Certain deals have been approved in just 24 hours.
The fastest way is to make sure you apply during standard business hours, and let us use the advance bank verification to instantly confirm your bank details online. If you upload copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer in just one hour, provided you apply within standard business time and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your banking statement, we’ll provide a decision in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we might be in a position to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some deals have been approved within less than 24 hours.
The fastest method is to ensure you apply during normal business hours. You can also permit us to use the advanced bank verification system to verify your bank account information online. If you decide to send us the copies of bank accounts, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount, we take into consideration a range of aspects that determine what is the well-being of your company and the level of the repayments your company will be able to support. The amount you receive from your loan will depend on the particular circumstances of your business.
When you submit an application for a certain amount, we consider a variety of aspects to determine how much we can lend you such as well-being for your business and the extent of repayments your business will be able to support. The amount you receive from your loan will be determined by the specific circumstances that are unique to your business.
When you apply for one of our company loans, we will assess the risk profile for your business and provide you with a customised proposal that includes the amount of the loan, the duration and interest rates. It is a business loan is an upfront cost loan so you will be aware of the total amount you will have to pay, including costs, fees, or interest rates.
The interest rates on business loans rates differ based on various variables like the amount to be of money borrowed, the business assets the funds will be used for in addition to the industry that the company is in, how long the business is in operation and whether the company has enough cash flow to fund the loan, as well as the general health and creditworthiness of the company.
There are no hidden fees with our business loans. You’ll be aware of the amount you’ll need to pay, and at what time, from the first day. There’s no compounding interest and no extra fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You can get a cash loan with without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can repay all of your loan in full at any time.
If you choose to take this route, please call our helpful business credit specialists. They’ll offer you with details on repayment as well as an early payout amount. This will be calculated as the sum of the principal remaining and any accrued interest at the time of early payout and 1.5% of the principal balance and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your nominated company account.
Protecting your information, and being clear about the ways we gather the information we collect, use, share and secure your information, is of huge importance and an integral aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We make use of an advanced bank verification system link to immediately verify the bank account details online to offer an immediate response.
The term "asset-based" refers to borrowing where an business owner uses an asset that they own to make the funds for a loan. The asset can be a personal asset like the family home or it could be a business asset like a truck or other piece of machinery.
The vast majority of lending institutions, not just the big banks, tend to secure loans against assets. If you are having difficulty paying back the loan then your asset may be offered for sale by the lender. In essence, it’s the process of securing new financing using the worth of the asset you already have.
For loans that exceed $150K, the requirement for asset security is not required in advance to gain access to the funds but we do require an individual guarantee. In the event that you fulfill your loan obligations (as stated in your loan contract document) the security of assets will never be required. If you take out loans in excess of $150K typically, you will need the option of a personal guarantee and security is provided in the form of an asset charge.
