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 financing.
All that’s needed to start is your contact information (company name and your name, as well as email or phone number) along with the amount you want to borrow, and your monthly income.
During the process and before settlement we will need confirmation of your identity but not to get started:
In addition, once we have started in the process, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and funds may be in your account within 24 hours. Traditional company loans reference an annual rate of interest together with additional fees and charges. This business loan is an upfront priced loan therefore you’ll know ahead of time the total amount due, which includes any fees, interest or charges. This is then broken down into weekly or daily repayment figure.
It is a Small Business Loan can be used to fulfill almost every business need, such as managing cash flows, business remodels and marketing for purchasing inventory or new equipment, as general working capital and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly depending on the flow of cash.
This Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To qualify for a loan in this amount, your business needs to have been trading for at least 3 years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large business loan can be used for almost any business use, including company improvements, purchasing new equipment or inventory for general working capital, and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. It is usually in the form of a charge over assets, and may be registered with the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature, rather than defining the security of a specific asset. The person who is signing the guarantee is personally responsible if the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be granted according to the date a security interest was registered.
An affidavit is an official document that is filed to provide notice of a legal claim to a property.
When you’re applying for larger company loans that exceeds $250,000 we can offer an initial pre-approval to simplify the process. We could be able to make this decision without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial health questions. This is not an offer or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could have different terms.
You may be eligible for an company loan if you
The application process is fast and easy. Just fill out the online application within a few minutes and an experienced business lending specialist will be in touch to assist you.
To be eligible for up to $100,000 you’ll need identification details (valid Driver’s License), a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll also require:
$100K to $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent, 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we typically provide an answer within an hour – as long as you submit your request in standard company times and let us utilise the bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statement, we’ll provide an answer within just the span of one company day.
For Larger Business Loans ($100K or more) we might be in a position to offer you with a conditional pre-approval in around six hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval within less than 24 hours.
The fastest way is to ensure you apply during standard company hours. Also, allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to send us documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within one hour – provided you make your application during normal business hours and you allow us to use the bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements, we will be able to offer an answer within an business day.
For Larger Business Loans ($100K and up) We may be capable of offer you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based upon the circumstances for each application. Certain offers have been approved within just 24 hours.
The fastest method would be to ensure you apply during normal business hours. You can also allow us to use the advanced bank verification system to instantly verify your bank account information online. If you choose to upload documents from your account statement, it takes a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount, we take into consideration a range of elements that determine how much we can lend you health of your business as well as the amount of repayments that your business will be able to support. The total amount of your loan will depend on the specifics the business.
When you make an application for a particular amount, we consider a variety of factors to assess your health that is your company as well as the amount of repayments your company is able to afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your business.
When you request business loans with us business loans, we will assess the risk profile of your company and offer an individualised proposal that includes the amount of the loan, the duration and interest rates. A business loan is a loan that is priced upfront which means you be aware of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates vary due to factors like the amount of money that is borrowed, what company assets the money will be used for in addition to the industry that the company operates in, how long the company has been in operation, in the event that the business has enough cash flow to fund the loan, and overall well-being or financial standing of the business.
There are no hidden costs for our company loans. You’ll be aware of the amount it is that you be required to pay and when, starting from day one. There’s no compounding and no extra fees (as long as you are able to make your payments on time).
We don’t charge an application fee. You are able to make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can decide to repay all of your loan early at any time.
If you decide to do this please talk to one of our helpful company credit specialists. They will provide you with the details of your repayment along with an early payout estimate. This is calculated as the total of the principal balance and any accrued interest at the date of early payout, plus 1.5 percent of the principal remaining plus any outstanding fees.
To make sure that you don’t miss repayments and to fit in your cash flow schedule, we offer repayments that are either daily or weekly. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and making it clear how we collect information, use it, and exchange it, as well as protect your information, is vital and is an essential part of our relationship you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to customer security and security. We use an advanced bank verification system that allows you to immediately verify the bank account details online. This allows us to provide an immediate response.
Asset-based borrowing is when an business owner utilises the assets they have to secure the funds for a loan. The asset can be either an individual asset, such as the family home or it could be a business property like a truck as well as a piece of machine.
The vast majority of the lenders even the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan then the asset could be transferred to the lender. In essence it is the process of securing new financing by taking advantage of the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets before you are able to access the money, however we do need an individual guarantee. In the event that you fulfill the loan terms (as detailed in your loan contract document) Asset security is not required. If you take out loans in excess of $150K generally there is a personal guarantee and security in the form an asset charge.
