The requirements for getting an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Find out the guidelines for eligibility for our $100K-$500K business credit.
All that’s required to start is your contact details (company name, your name, email address or phone number), how much you want to borrow, and your monthly income.
Through the process and before settlement we’ll require confirmation of who you are 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 offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply for this Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and the money could be available in just 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. The business 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 weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually any company use, including cash flow management, company improvements, advertising for purchasing inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund 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 to work with your cash flow.
This Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
To be eligible for a credit of this size the business needs to be operating for a minimum of 3 years with an annual turnover of $700,000. The applicant must also be 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 to prove at minimum 12 months of business.
A large company loan can be used for almost every business reason, such as business improvements, purchasing new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary for accessing funds over $150,000. It’s in the form of a charge over assets, and could be registered through the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is generally based rather than stating security over an asset. The person signing the ensure is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR allows prioritisation over property that is personal to be granted according to the date a security interest was registered.
An affidavit is an official document filed to provide the legal claim to property.
When you’re applying for an enterprise loan of $250K or more, we may offer a preliminary pre-approval to help simplify the process. It is possible to apply for this without credit checks and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial health checks. It is neither an offer nor a guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer that you are offered could have different conditions.
You are eligible to apply for an company loan if you:
The application process is fast and easy. Simply complete the online form in just a few minutes, and a dedicated business credit specialist will contact you to guide you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s License) and a valid NZBN/IRD as well as at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we usually offer an answer within an hour – as long as you apply at quality business time and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements , we are able to offer an answer in as little as one company day.
For Larger Business Loans ($100K and up) we may be capable of provide you with a conditional pre-approval within six hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, it could be faster based on the particular circumstances of each application. Some transactions have received approval within just 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 to confirm your bank details online. If you upload duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within one hour – provided you make your application within standard business times and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can provide the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K or more) We may be likely to provide the conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way can be ensure you apply during standard business hours, and allow us to use our sophisticated bank verification link to verify your bank information online. If you decide to send us duplicates of your banking statements, it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of aspects in order to assess what is the health for your company and the extent of the repayments your company can support. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you submit an application for a set amount, we take into consideration a variety of factors to determine how much we can lend you such as health of the business as well as the amount of payments your company can afford. The amount you receive from your loan will be determined by the particulars that are unique to your business.
When you make an application for one of our business credit, we will assess the risk profile for your company and offer you with a customised offer, including loan amount, term and the interest rates. The company loan is an upfront-priced loan which means you know in advance the total amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates differ based on various factors such as the amount that is borrowed, what company assets the funds will be used for in addition to the industry that the company operates in, the long the company is in operation, in the event that the company has sufficient cash flow to support the loan, and general health as well as creditworthiness business.
There aren’t any hidden charges for our company loans. You’ll know precisely what it is that you need to pay and when, starting from the day you sign up. There’s no compounding interest and no additional fees (as long as you are able to make your payments on time).
We don’t charge an Application Fee. You can make an application for loans no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You can choose to repay the entire amount of your loan in full at any time.
If you decide to pursue this option, please speak to our friendly business loans professionals. They will offer you with details on repayment along with an early payout estimate. It will be calculated using the total of the principal amount remaining and the accrued interest up to the time of the early payout in addition to 1.5 percent of the remaining principal as well as any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your designated company account.
The security of your personal information, as well as being clear about the ways we gather information, use it, and exchange it, as well as safeguard your data, is crucial and an integral aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system that allows you to immediately confirm your bank account information online to provide a fast response.
The term "asset-based" refers to borrowing where an business owner utilises an asset that they own to obtain a loan. The asset can be an individual asset, such as the family home or a business asset such as a vehicle or piece of equipment.
The vast majority of banks, not just the major banks, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, the asset could be transferred to the lender. In essence it is means of securing new financing by taking advantage of the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required in advance to gain access to the funds However, we do need an individual guarantee. In the event that you fulfill the loan terms (as stipulated in your loan contract document), asset security will never be needed. For loans that exceed $150,000, generally there is an individual ensure and security in the form of an asset charge.
