The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K company loans.
All you need to begin is your contact information (company name, your name, email, phone), how much you’d like to borrow, and your monthly earnings.
While in the process and before settlement we will need confirmation of your identity but not for starting:
After we start, for loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
It is possible to apply to get this Small Business Loan in under 10 minutes on the phone. You’ll receive an answer within the same day and have the funds on your account within 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. This business loan is a pre-paid loan therefore you’ll be aware of the amount you will have to pay, including any fees, charges or charges. This is then broken down into either a daily or weekly payment amount.
The Small Business Loan can be used to fulfill almost every company need, such as control of cash flow company improvements, advertising for purchasing 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 loan size to support business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
To be eligible for a credit that is this large the business needs to be operating for at least three years with an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A large business loan can be used for almost any company use, including business improvements, purchasing new equipment or inventory for general working capital and much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. It is usually by taking a charge over assets and can include the registration of this on the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee to repay credit that is general in nature rather than stating security over a particular asset. The person who signs the ensure is personally liable in the event that the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central 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 permits the priority of personal property assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official document lodged to offer the legal claim to property.
If you’re seeking a Larger Business Loan that is greater than $250K, we may offer an initial pre-approval to ease the process. We might be able to do this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial health checks. It’s neither an offer nor a guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could be on 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 an experienced company lending specialist will be in touch to assist you.
To apply for up to $100,000, you’ll require identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent as well as 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour if you submit your request at quality business time and let us use the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your bank statements we can offer the decision within 1 business day.
If you are applying for a Larger Business Loan ($100K to $500K) we could be able to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this may be quicker depending on the specifics of each application. Certain deals have been approved in less than 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours. You can also allow us to use our advance bank verification to check your bank’s information online. If you decide to upload the copies of bank statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer a response in one hour, provided you apply at normal business time and permit us to use the bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements, we are able to provide the decision in just the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we might be able to provide you with pre-approval conditional to your application within about 6 hours. Once you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval, however it could be faster based on the specifics of each application. Some agreements have been approved within 24 hours.
The fastest way can be ensure you apply during standard business hours. You can also allow us to use the sophisticated bank verification to instantly verify your bank account information online. If you choose to send us documents from your account statements it will take a little longer.
We provide the loan amount between $5,000 and $500,000. If you apply for a particular amount, we will consider a number of factors that determine what is the health of your company and the amount of payments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances for your business.
When you apply for a specific amount we will consider a number of elements to assess your health of your company and the level of repayments your business will be able to support. The amount you receive from your loan will be contingent on the particulars the company.
When you apply for one of our business credit, we’ll assess the risk profile of your company and provide you with a customised offer that includes the amount of loan, the term and the interest rates. A company loan is an upfront-priced loan which means you be aware in advance of the total amount payable including any interest rates, fees or charges.
Business loan interest rates depend on several factors including the amount borrowed, the company assets the funds are used to purchase, the industry the business operates in, the long the business has been running as well as in the event that the company has enough cash flow to support the loan, and general well-being or creditworthiness of the company.
There aren’t any hidden costs with our company loans, and you’ll know precisely what you’ll be required to pay, and at what time, from day one. There’s no compounding and no extra fees (as as you make your payments in time).
We don’t charge an Application Fee. You can make an application for loans with absolutely no upfront cost and no obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back all of your advance loan at any time.
If you decide to do this please speak to our friendly company credit experts. They’ll provide you with the details of your repayment as well as an early payout amount. This is calculated as the total of the principal remaining and any accrued interest at the time of the early payout and 1.5 percent of the remaining principal as well as any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from the nominated company account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as safeguard your data, is crucial and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to security for our customers and privacy. We employ a highly sophisticated bank verification system link to immediately confirm your bank account information online, allowing us to provide quick responses.
An asset-based loan is when the business owner uses an asset they own to secure a loan. The asset could be a personal asset like the family home, or an company asset like a truck or piece of equipment.
The vast majority of banks, even the banks with the biggest size, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan then the asset might be transferred to the lender. In essence, it’s a way of securing new funding using the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets before you can access the money However, we do require a personal guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract document) Asset security will never be needed. For loans that exceed $150,000, typically, you will need the option of a personal guarantee and security is provided in the form of a charge over assets.
