The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K company loan.
All that is needed to start is your contact details (company name, your name, email and phone) and the amount you’d like to borrow, and your monthly income.
During the process and before settlement we’ll need confirmation of your identity but not for starting:
After we start when it comes to loans over $150,000 you’ll also need basic financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
Apply to get the Small Business Loan in under 10 minutes on the internet or by phone. You will receive an instant response and funds may be in your account within 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. Our business loan is a loan that is priced upfront so you will be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly payment amount.
The Small Business Loan can be used for nearly any business use, including the management of cash flow, company improvements, advertising to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large the company needs to be trading for at least 3 years with an annual turnover of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Larger Business Loan is a great option for almost all business reason, such as business renovations, to purchase new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary to obtain funding above $150,000. It is usually in the form of a charge over assets and can include the registration of this through the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a promise to repay a loan which is generally in nature rather than stipulating security over a particular asset. The person who signs the guarantee is personally responsible if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including items or assets). The PPSR allows priority over personal property to be granted depending on the date that a security interest that is registered.
Caveats are legal document filed to offer an official notice of a claim against a property.
When you’re applying for a Larger Business Loan of $250K or more we can offer an initial pre-approval that will help simplify the process. We may be able to apply for this without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial assessment that includes the answer to a series of financial well-being checks. It’s in no way an offer, nor is it a guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you receive could be on different terms.
You may apply for a company loan if you:
The application process is simple and easy. Complete the online form in few minutes and an experienced business loan specialist will be in touch to assist you.
To be eligible for up to $100,000, you’ll need ID details (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months’ worth 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 loan above $150K).
$250K – $500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we can often offer a response in one hour – as long as you make your application in standard business hours and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to submit copies of your bank statements , we’ll be able to offer a decision within an company day.
For the Larger Business Loan ($100K or more) we may be likely to offer you with a conditional pre-approval within about six hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be quicker based on the particular circumstances of each application. Certain offers have been approved within less than 24 hours.
The fastest way is to ensure you apply during standard company hours. You can also allow us to use the advance bank verification link to instantly confirm your bank details online. If you upload duplicates of your banking statements it may take a bit longer.
For the Small Business Loan ($5K or more) we typically offer an answer in just one hour if you apply during standard business times and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you decide to submit copies of your bank statements, we’ll be able to provide the decision in just 1 business day.
For Larger Business Loans ($100K and up) we may be capable of provide you with a conditional pre-approval in around 6 hours. Once you’ve signed your 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 agreements have been approved within 24 hours.
The fastest method is to make sure you apply during standard business hours. You can also let us use the sophisticated bank verification link to check your bank’s information online. If you opt to send us duplicates of your banking accounts, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a certain amount, we consider a variety of factors to determine your well-being of the company and the extent of repayments your company can afford. The total amount of your loan will be contingent on the specific circumstances of your company.
If you apply for a particular amount, we take into consideration a variety of elements to determine the health that is your company as well as the amount of the repayments your company will be able to support. The amount you receive from your loan will be contingent on the particulars the business.
When you request the business credit, we’ll assess the risk profile for your company and offer an individualised offer that includes loan amount, term and the interest rates. The company loan is a loan that is priced upfront which means you be aware of the total amount due, which includes any charges, interest rates or fees.
Interest rates for company loans rates depend on a variety of variables like the amount to be of money borrowed, the business assets the funds are used to purchase as well as the field the business is operating in, how long the business has been running for, whether the business has sufficient cash flow to pay for the loan, and also the general health and creditworthiness of the business.
There aren’t any hidden charges for our business loans, and you’ll know precisely what you need to pay and at what time, from the first day. There’s no compounding and there are no additional charges (as long as you make your payments in time).
We do not charge an Application Fee. You are able to apply for a loan with no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay the total amount of your loan at any point in time.
If you choose to pursue this option, please contact our helpful business lending specialists. The specialists will offer you with the details of your repayment along with an early payout estimate. This is calculated as the total of the remaining principal amount and the accrued interest up to the time of early payment in addition to 1.5 percent of the principal remaining plus any outstanding fees.
To ensure that you don’t miss repayments and to fit in your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from the nominated business account.
Protecting your information, and making it clear how we collect data, process, exchange and ensure the security of your information is crucial and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account information online. This allows us to offer an immediate response.
Asset-based borrowing occurs when the company owner borrows from an asset that they own to make the funds for a loan. The asset could be an asset belonging to the personal, like the family home or a business asset such as a vehicle or piece of equipment.
The majority of lending institutions, not just the largest banks, are inclined to secure loans against assets. If you have trouble paying back the loan, then the asset might be sold by the lender. In essence it is means of securing new financing using the worth of the asset you already own.
For loans that exceed $150K, it is not necessary to secure assets before you are able to access the money but we do require a personal guarantee. If you adhere to the terms of your loan (as stated in the loan contract) Asset security is not needed. For loans over $150K generally there is an individual guarantee and security in the form the charge of assets.
