The criteria for eligibility for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Are you looking for additional funding? Find out the guidelines for eligibility for our $100K to $500K business financing.
All you need to get started is your contact information (company name, your name, email address and phone), how much you’d like to lend, as well as your monthly income.
Through the process and before settlement we will need confirmation of your identity however, not in order to begin:
Once we’ve started with loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply to the Small Business Loan in under 10 minutes on the internet or over the phone, receive an immediate response, and have the funds on your account within 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. This business loan is an upfront priced loan which means you be aware in advance of the amount you will have to pay, including any fees, interest or charges. Then, it is divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used to fulfill almost any business purpose including control of cash flow business remodeling, marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
To qualify for a loan of this size the business needs to be in operation for at least 3 years and generate an annual revenue of at least $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large company loan can be used to fund almost any company need, including business improvements, purchasing 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 needed for funding of more than $150,000. It is usually as a result of an charge against assets, and may include registration in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature, rather than stating security over an asset. The person who signs the guarantee is personally liable in the event that the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR allows the priority of personal property granted according to the date the security interest has been registered.
An affidavit is an official document lodged to offer the legal claim to a property.
When you’re applying for a Larger Business Loan of more than $250K we may be able to provide an initial pre-approval to simplify the process. We may be able to get this done without a credit verification 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 health questions. It is in no way an offer, nor is it a guarantee of financing. A conditional approval is subject a full credit assessment and any offer you might receive could be on different terms.
You may be eligible for an company loan if you;
The application process is fast and simple. Simply complete the online form within a few minutes and an experienced business loan specialist will contact you to guide you through the process.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent, 12 months of bank records, IRD statements and the last two years’ finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we typically provide an answer within an hour, provided you submit your request during standard business time and let us make use of the advanced bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statement, we’ll offer the decision within just one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we could be likely to offer you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be quicker based on the particular circumstances of each application. Some deals have been approved within the space of 24 hours.
The quickest way to apply can be ensure you apply during standard business hours, and permit us to use the modern bank verification to verify your bank account information online. If you opt to upload the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within one hour – provided you make your application in standard business timings and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements, we are able to offer a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be in a position to offer you with pre-approval conditional to your application within six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain offers have been approved within 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours. Also, allow us to use the advance bank verification to instantly check your bank’s information online. If you opt to upload copies of your bank accounts, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a specific amount we consider a variety of aspects for determining the health of your business as well as the amount of payments your business 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 particular amount, we will consider a number of factors to assess your well-being for your company and the level of payments your business can afford. The amount you receive from your loan will be determined by the specifics the company.
When you make an application for our business loan, we’ll assess the risk profile the business and offer you with a customised offer, including the loan amount, the terms and interest rates. The business loan is an upfront priced loan which means you be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for company loans rates depend on several variables like the amount to be borrowed, the business assets the funds will be used for and the sector the company is in, how long the company has been running and in the event that the business has enough cash flow to support the loan, and overall health or creditworthiness of the company.
There aren’t any hidden costs for our company loans. You’ll know precisely what you’ll need to pay and when, starting from the first day. There’s not any compounding interest and no extra fees (as as you make your payments punctually).
We do not charge an application fee. You can apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can repay the entire amount of your loan early at any time.
If you are deciding to do this please contact our helpful business loan experts. They’ll provide you with details for repayment and an early payout figure. This will be calculated as the sum of the principal balance plus any accrued interest as of the time of early payment plus 1.5 percent of the remaining principal and any outstanding fees.
To make sure you do not miss repayments and to fit in with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and protect your information, is of huge importance and an integral part of our relationship you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and privacy. We make use of an advanced bank verification system link to instantly verify your bank account details online, allowing us to provide an immediate response.
Asset-based borrowing is when an business owner utilises the assets they have to make a loan. The asset can be either an individual asset, such as the family home, or a company asset like a truck or other piece of machinery.
The vast majority of lenders, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then the asset might be sold by the lender. In essence, it’s the process of securing new funding using the value of what you already have.
For loans of up to $150,000, no asset security is required upfront to access the money, however we do need the personal guarantee. As long as you follow your loan commitments (as detailed in your loan contract) Asset security is not needed. For loans over $150,000 generally, you can get the option of a personal guarantee and security in the form of a charge over assets.
