The requirements for getting an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Find out the eligibility requirements for our $100K-$500K company loan.
All you need to start is your contact details (company name, your name, email address and phone) and the amount you’d like to borrow, as well as your monthly income.
While in the process and before settlement we will require confirmation of who you are, however, not in order to begin:
Once we’ve started in the process, for loans over $150,000 you’ll also need basic financial statements:
Let’s get started now.
Sydney unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
It is imaginable to apply for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an answer within the same day and have the funds on your account within 24 hours. Traditional company loans are based on an interest rate per annum together with additional fees and charges. Our company loan is a pre-paid loan and you’ll be aware of the total amount to be paid, including any fees, interest or charges. This is then broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for nearly every business purpose including cash flow management, business renovations, marketing to purchase inventory, new equipment, for general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range from $100,000 to $500,000 over a fixed term up to 36 months. Repayments are weekly or fortnightly to work with your cash flow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To be eligible for a loan in this amount the company needs to be in operation for at least 3 years and have an annual turnover of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A large business loan can be used to fund almost any business use, including company improvements, purchasing inventory or new equipment or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. This can be done as a result of an charge on assets, and could include the registration of this in the PPSR or registering as a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is general in nature rather than defining security over a particular asset. The person signing the guarantee is personally responsible if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR allows priority over personal property to be assigned according to the date the security interest that is registered.
A caveat is a legal document filed to offer notice of a legal claim to a property.
If you’re applying for the Larger Business Loan that is greater than $250K we may be able to provide an initial pre-approval in order to ease the process. It is possible to make this decision without a credit check and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering some financial health checks. This is not an offer or guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer you may receive may be on different terms.
You are eligible to apply for an business loan if you
The application process is quick and simple. Simply complete the online form within a couple minutes, and a dedicated company loan specialist will contact you to help you.
For a loan of up to $100,000 you’ll require the right identification documents (valid Driver’s License) as well as an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent and 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we can often provide an answer in just one hour if you apply in standard business hours and you allow us to utilise the bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements , we are able to offer a decision in as little as the span of one business day.
For the Larger Business Loan ($100K or more) we could be likely to provide you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some deals have been approved in just 24 hours.
The most efficient method for you to apply is make sure you apply during standard business hours, and let us use the modern bank verification link to confirm your bank details online. If you decide to send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within an hour – as long as you submit your request at normal business timings and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your bank statements, we are able to offer an answer within one business day.
For the Larger Business Loans ($100K to $500K) We may be able to offer you with conditional pre-approval within 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain transactions have received approval within the space of 24 hours.
The most efficient method can be make sure you apply during normal business hours. Also, allow us to use our advanced bank verification system to verify your bank information online. If you upload copies of your bank statement, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a certain amount we will consider a number of aspects to determine your well-being of your company as well as the amount of repayments that your business is able to afford. The total amount of your loan will be contingent on the specifics for your business.
When you make an application for a certain amount, we take into consideration a variety of factors to determine how much we can lend you such as well-being that is your business and the extent of the repayments your business can support. The amount you receive from the loan will be determined by the specifics for your business.
When you request business loans with us business credit, we’ll assess the risk assessment that you have for your company and provide you with a customised proposal that includes the loan amount, the terms and the interest rates. A company loan is an upfront priced loan so you will be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates vary due to factors including the amount borrowed, what company assets the funds are used to purchase in addition to the industry that the company is in, how long the company has been running, how long the business has sufficient cash flow to fund the loan, as well as the general health and creditworthiness of the business.
There aren’t any hidden costs with our company loans, and you’ll be aware of the amount it is that you be required to pay, and when, starting from the day you sign up. There’s no compounding interest and there are no additional charges (as as you make your payments punctually).
We do not charge an application fee. You are able to apply for a loan absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You may choose to pay back the entire amount of your loan at any point in time.
If you are deciding to take this route, please speak to our friendly business loan specialists. They will provide you with details for repayment and an early payment figure. It will be calculated using the sum of the principal remaining and accrued interest to the date of early payout in addition to 1.5% of the remaining principal and any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Protecting your information, and being transparent about the ways we gather the information we collect, use, share and ensure the security of your information is vital and is an essential part of our relationship you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and security. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify the bank account details online to offer a fast response.
An asset-based loan is when the company owner borrows from an asset that they own to make the funds for a loan. The asset may be a personal asset like the family home, or an company asset such as a truck or other piece of machinery.
The vast majority of lenders, even the major banks, prefer to secure loans against an asset. If you’re having trouble paying back the loan, then your asset may be transferred to the lender. In essence it is means of securing new financing taking advantage of the value of what you already have.
Up to $150K in loans the requirement for asset security is not required before you are able to access the money but we do require an individual guarantee. So long as you comply with the loan terms (as stipulated in your loan contract) Asset security will never be required. For loans that exceed $150K, generally, there is the option of a personal ensure and security that is in the form an asset charge.
