The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K company loans.
All that is needed to start is your contact details (company name, your name, email and telephone) along with the amount you’d like to borrow and your monthly income.
During the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
Once we’ve started, for loans over $150,000 you’ll require fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes on the internet or over the phone, receive an immediate response, and have the funds in your account within 24 hours. Traditional business loans are based on an interest rate per annum along with other charges and fees. Our business loan is an upfront priced loan therefore you’ll know ahead of time the total amount to be paid, including any interest, fees or charges. This is then broken down into weekly or daily installment amount.
It is a Small Business Loan can be used for almost any business need, such as cash flow management, company remodels and marketing to purchase inventory or new equipment, to fund 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 expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
To be eligible for a loan in this amount the business needs to have been operating for at least three years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large company loan can be used for almost any business need, including business remodeling, buying new equipment or inventory as well as for general working capital, and much more. The loan is not available for personal reasons.
Asset security is needed to obtain funding above $150,000. This is by taking a charge on assets and can be registered in the PPSR or registering as a caveat.
A personal or director’s ensure is a promise to repay credit that is general in nature rather than stating the security for a particular asset. The person who is signing the guarantee is personally responsible if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR permits priority over personal property to be granted in accordance with the date on which a security interest that is registered.
The caveat can be described as a formal form of document to offer an official notice of a claim against a property.
If you’re applying for the Larger Business Loan that exceeds $250K we may be able to provide a preliminary pre-approval to help ease the process. We might be able to get this done without a credit check and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves answering a couple of financial health checks. This is in no way an offer, nor is it a guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer that you might receive could be on different conditions.
You may be eligible for a company loan if you;
The application process is simple and simple. Just fill out the online application in just a few minutes, and a dedicated business credit specialist will call you to guide you.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s License), an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent twelve months bank statement, an IRD statements and the last two years’ finalised financial statements, as well as interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually provide a response in one hour if you make your application in standard company timings and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to send us copies of your bank statements , we are able to provide the decision in as little as the span of one business day.
For Larger Business Loans ($100K and up) we may be likely to provide you with pre-approval conditional to your application within six hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some agreements have been approved in just 24 hours.
The quickest way to apply for you to apply is ensure you apply during standard company hours. Also, permit us to use the advanced bank verification system to instantly verify your bank account information online. If you opt to send us the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer a response in one hour – provided you make your application in normal business time and allow us to use the bank verification system link to instantly verify your bank details online. If you decide to submit copies of your bank statements, we’ll be able to offer a decision in just 1 business day.
For the Larger Business Loans ($100K up to $500,000) we could be in a position to offer you with conditional pre-approval in around six hours. Once you’ve signed your 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. Some offers have been approved in just 24 hours.
The quickest method would be to ensure you apply during standard business hours and allow us to use our advanced bank verification system link to instantly verify your bank information online. If you decide to upload duplicates of your banking statements it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount, we take into consideration a range of factors to determine the well-being for your business and the level of the repayments your company can afford. The total amount of your loan will depend on the specific circumstances for your business.
When you submit an application for a certain amount, we will consider a number of elements to assess your health of the company and the extent of payments your business will be able to support. The amount you receive from your loan will depend on the particular circumstances that are unique to your business.
When you request the company credit, we’ll assess the risk profile the business and offer an individualised offer including the loan amount, the terms and the interest rates. A company loan is an upfront cost loan which means you know the exact amount due, which includes any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors such as the amount that is borrowed, what business assets the funds are used to purchase and the sector the business is operating in, how long the business has been running and whether the company has sufficient cash flow to cover the loan, and the overall well-being or financial standing of the company.
There aren’t any hidden charges with our company loans, and you’ll be aware of the amount it is that you need to pay, and when, right from day one. There’s no compounding interest, and the loan comes with no additional fees (as long as you make your payments in time).
We don’t charge an application fee. You can request a credit loan without any upfront costs or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of the loan early at any time.
If you choose to do this please contact our helpful company loan specialists. We will offer you with details for repayment and an early payout figure. The figure will be calculated as the total of the principal amount remaining plus any accrued interest as of the time of early payout, plus 1.5% of the remaining principal as well as any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from your designated business account.
Security of your data, and knowing the ways we gather data, process, exchange and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to protecting the security of clients and privacy. We employ an exceptionally sophisticated banking verification system to instantly verify your bank account information online so we can offer rapid response.
An asset-based loan is when a company owner borrows from an asset they own to make the loan. The asset can be either an individual asset, such as the family home or an business property like a truck as well as a piece of machine.
The vast majority of banks, including the largest banks, are inclined to secure loans against assets. If you are having difficulty paying back the loan then your assets could be transferred to the lender. In essence, it’s the process of securing new funding making use of the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money but we do need the personal guarantee. So long as you comply with your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security is not required. For loans of over $150K generally, you can get personal guarantee and security in the form of charges on assets.
