The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Take a look at the guidelines for eligibility for our $100K-$500K business loan.
All that’s required for starting is your contact details (company name, your name, email address and phone) and the amount you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity however, not in order to begin:
In addition, once we have started with loans of more than $150,000 you’ll also require fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and have the funds in your account within 24 hours. Traditional business loans are based on an annual interest rate as well as other fees and charges. Our company loan is an upfront priced loan and you’ll be aware in advance of the total amount payable including the interest, fees and charges. Then, it is divided into weekly or daily payment amount.
A Small Business Loan can be used for virtually any company purpose including control of cash flow business remodels and marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your situation.
This Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To be eligible for a credit in this amount, your company needs to be in operation for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A larger company loan can be used for nearly any company need, including business remodeling, buying new equipment or inventory, as general working capital and much more. The loan is not available for personal reasons.
Asset security is required for accessing funds over $150,000. It’s by taking a charge against assets, and may include registering this with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally based rather than defining security over an asset. The person signing the ensure is personally liable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including objects or assets). The PPSR grants preference over private property granted according to the date the registration of a security interest.
A caveat is a legal document that is filed to offer the legal claim to a property.
If you’re seeking an enterprise loan of $250K or more we may be able to provide an initial pre-approval to simplify the process. We could be able to make this decision without credit checks and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial well-being checks. It is not an offer or guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you may receive may be on different terms.
You may apply for a company loan if you
The process for applying is fast and easy. Complete the online form within a couple minutes, and a dedicated business credit specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent, 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we can often offer an answer in just one hour – as long as you apply within standard business time and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statements , we will be able to offer a decision in as little as an company day.
For Larger Business Loans ($100K to $500K) we may be able to provide you with conditional pre-approval in about 6 hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The quickest method can be ensure you apply during standard company hours, and allow us to use the modern bank verification to check your bank’s information online. If you choose to upload duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) we typically offer an answer within an hour, provided you submit your request within normal business times and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your bank statements we can offer the decision in as little as one business day.
For the Larger Business Loans ($100K and up) we might be likely to provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some deals have been approved within the space of 24 hours.
The quickest method would be to ensure you apply during standard business hours, and allow us to use the advanced bank verification system to instantly check your bank’s information online. If you opt to send us duplicates of your banking statement, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a specific amount we consider a variety of factors that determine what is the well-being for your business and the amount of repayments your business will be able to support. The total amount of your loan will depend on the specifics for your business.
When you apply for a set amount, we will consider a number of elements to assess your health for your company and the level of payments your company will be able to support. The amount you receive from your loan will depend on the particulars of your company.
If you decide to apply for business loans with us business loan, we will assess the risk profile that you have for your company and provide you with a customised offer, including the loan amount, the terms and the interest rates. This business loan is an upfront-priced loan which means you know in advance the total amount due, which includes any interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors like the amount of money borrowed, what business assets the funds are used to purchase as well as the field the company is operating in, how long the company has been running for, in the event that the company has enough cash flow to support the loan, as well as the overall well-being and creditworthiness of the business.
There are no hidden costs with our company loans. You’ll be aware of the amount it is that you need to pay, and when, starting from the very first day. There’s not any compounding interest and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an Application Fee. You are able to get a cash loan without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the total amount of your loan early at any time.
If you do decide to pursue this option, please contact our helpful company loan experts. They will offer you with repayment details and an early payment figure. It will be calculated using the sum of the principal balance plus any accrued interest as of the date of early payout and 1.5% of the principal amount remaining plus any outstanding fees.
To ensure you do not miss payments and to work with your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from your business account.
Making sure that your information is secure, and making it clear the ways we gather the information we collect, use, share and safeguard your data, is crucial and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to the security of our clients as well as their security. We utilise a sophisticated bank verification system link to immediately verify your bank account details online so we can offer a fast response.
Asset-based borrowing occurs when an company owner borrows from the assets they have to secure a loan. The asset can be either an individual asset, such as the family home or an company asset like a truck or piece of equipment.
The vast majority of lenders, not just the banks with the biggest size, prefer to secure loans against assets. If you are having difficulty paying back the loan, your assets could be sold by the lender. In essence, it’s the process of securing new financing by using the value of what you already own.
For loans up to $150K the requirement for asset security is not required in advance to gain access to the funds However, we do require an individual guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract document) Asset security is not required. For loans that exceed $150K, typically, you will need a personal guarantee and security in the form of charges on assets.
