The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Do you need more money? Take a look at the conditions of eligibility for our $100K to $500K company loan.
All you need to begin is your contact information (company name and your name, as well as email, phone) and the amount you’d like to borrow as well as your monthly income.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
After we start, for loans that exceed $150,000, you will also require basic financial statements:
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
Apply to get this Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and funds may be on your account within 24 hours. Traditional company loans have an interest rate per annum together with additional fees and charges. Our company loan is a loan that is priced upfront and you’ll know in advance the total amount payable including any fees, charges or charges. This is then broken down into either a daily or weekly installment amount.
It is a Small Business Loan can be used for virtually any business need, such as cash flow management, business remodeling, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. The loan ranges 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 your situation.
The Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan that is this large the company needs to have been in operation for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Larger Business Loan can be used for nearly all business need, including company remodeling, buying new equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal use.
Asset security is necessary for accessing funds over $150,000. This can be done by taking a charge against assets, and may include registering this on the PPSR or the registration of a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is generally based rather than defining security over an asset. The person who is signing the guarantee is personally accountable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be granted in accordance with the date on which a security interest that is registered.
Caveats are legal document filed to provide notice of a legal claim to a property.
If you’re applying for larger company loans of $250,000 or more we can offer a preliminary pre-approval to help simplify the process. We may be able to do this without a credit check, and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes you answering a few financial well-being questions. It is not an offer or guarantee of finance. The approval of a conditional loan is subject to a full credit assessment and any offer that you may receive may be subject to different terms.
You may apply for a business loan if you;
The process for applying is fast and easy. Complete the online form within a few minutes and a dedicated business loan specialist will contact you to help you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent as well as 12 months bank statement, an IRD statements, last 2 years finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within an hour – as long as you make your application in quality company hours and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your banking statements , we’ll be able to offer an answer within 1 company day.
For the Larger Business Loan ($100K and up) we may be able to provide you with a conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain deals have been approved within less than 24 hours.
The quickest way to apply would be to make sure you apply during standard business hours. You can also allow us to use the modern bank verification to verify your bank information online. If you choose to upload the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer in just one hour, provided you apply in normal business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can provide a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be likely to offer the conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however it could be faster based upon the circumstances for each application. Some deals have been approved within less than 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and let us use the modern bank verification to instantly verify your bank account information online. If you choose to send us documents from your account statements it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we look at a variety of aspects for determining your health of your business as well as the amount of repayments that your business is able to afford. The amount you receive from the loan will be determined by the specific circumstances of your company.
When you make an application for a specific amount we will consider a number of variables to assess the well-being for your company and the amount of repayments your company can support. The total amount of your loan will be contingent on the specifics of your company.
If you decide to apply for the company loans, we will assess the risk assessment the business and provide you with a customised proposal that includes the amount of loan, the term and the interest rates. A company loan is an upfront priced loan therefore you will be aware of the total amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates vary due to variables like the amount to be of money borrowed, the company assets the money are used to purchase, the industry the business is operating in, how long the company is in operation for, how long the business has sufficient cash flow to pay for the loan, and general health or creditworthiness of the business.
There are no hidden fees for our company loans. You’ll be aware of the amount you’ll be required to pay, and when, starting from day one. There’s no compounding interest, and there are no additional charges (as as you make your payments on time).
We don’t charge an application fee. You can apply for a loan with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated with the setting up and management of the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You can repay all of your loan early at any time.
If you decide to pursue this option, please speak to our friendly business loan professionals. They will offer you with the details of your repayment and an early payment figure. The figure will be calculated as the sum of the remaining principal amount and the accrued interest up to the date of early payout and 1.5 percent of the principal balance plus any outstanding fees.
To ensure you do not miss payments and to work your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from your nominated company account.
Protecting your information, and making it clear how we collect, use, exchange and protect your information, is crucial and is an essential part of our relationship you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and privacy. We employ a highly sophisticated bank verification system that allows you to immediately verify the bank account details online. This allows us to provide a fast response.
Asset-based borrowing is when an business owner utilises an asset they own to secure a loan. The asset may be a personal asset like the family home or it could be a business property like a truck as well as a piece of machine.
The vast majority of banks, not just the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence, it’s a way of securing new financing by taking advantage of the value of what you already own.
For loans of up to $150K, the requirement for asset security is not required in advance to gain access to the funds, however we do require the personal guarantee. As long as you follow your loan obligations (as detailed in your loan contract document) and you are able to meet your obligations, asset security is not required. For loans of over $150K generally, there is a personal guarantee and security in the form charges on assets.
