The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K to $500K business credit.
All you need to begin is your contact information (the name of your company, your name, email and telephone) along with the amount you’d like to borrow, and your monthly revenue.
Through the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start in the process, for loans greater than $150,000 you’ll also require the following financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and the funds could be in your account within 24 hours. Traditional business loans refer to an annual rate of interest as well as other fees and charges. Our business loan is a pre-paid loan and you’ll be aware of the total amount payable including the interest, fees and charges. Then, it is broken down into weekly or daily payment amount.
The Small Business Loan can be used for virtually any business need, such as the management of cash flow, business remodels and marketing to purchase inventory, new equipment, as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
A Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
In order to be eligible for a loan that is this large the company needs to be in operation for at least 3 years and have an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger company loan can be used to fund almost all company use, including business improvements, purchasing new equipment or inventory as well as for general working capital and so much more. The loan is not available for personal purposes.
Asset security is necessary for funding of more than $150,000. It’s by way of charge over assets, and could be registered with the PPSR or making as a caveat.
A personal or director’s ensure is a guarantee to pay back a loan that is general in nature rather than stipulating security over a particular asset. The person who signs the ensure is personally responsible if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR gives prioritisation over property that is personal to be granted depending on the date that a security interest that is registered.
A caveat is a legal document lodged to provide the legal claim to a property.
When you’re applying for larger business loans that exceeds $250K, we may offer an initial pre-approval that will help make the process. We might be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial well-being questions. It is not an offer or guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you might receive could be based on different terms.
You may be eligible for an business loan if you;
The application process is simple and simple. Just complete the online application in just a few minutes, and a dedicated company expert in lending will be in touch to guide you through the process.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details for application including credit consent, 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour, provided you apply during standard business hours and allow us to utilise the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements we can offer an answer in just the span of one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be likely to provide you with pre-approval conditional to your application in about 6 hours. After 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 circumstances of each application. Some agreements have been approved in just 24 hours.
The quickest method would be to ensure you apply during normal company hours. You can also allow us to use our modern bank verification link to instantly verify your bank information online. If you choose to send us duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer in just one hour – provided you apply in normal business time and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you opt to send us copies of your bank statements we can provide the decision in just 1 business day.
For Larger Business Loans ($100K to $500K) We may be likely to provide you with conditional pre-approval in about six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Certain agreements have been approved in 24 hours.
The fastest method would be to ensure you apply during normal business hours. Also, let us use the advanced bank verification system link to instantly verify your bank account information online. If you opt to send us the copies of bank statements, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of elements that determine how much we can lend you well-being of your company and the extent of the repayments your business can afford. The amount you receive from the loan will be determined by the specific circumstances the company.
When you make an application for a certain amount, we look at a range of factors to determine how much we can lend you such as well-being that is your company and the amount of repayments your business is able to afford. The amount you receive from the loan will be determined by the specific circumstances for your company.
When you apply for our company loans, we’ll assess the risk assessment the company and offer an individualised offer, including the amount of the loan, the duration and the interest rates. A business loan is a loan that is priced upfront which means you be aware of the total amount you will have to pay, including costs, fees, or interest rates.
The interest rates on business loans rates vary due to variables like the amount to be of money borrowed, the company assets the funds will be used for and the sector the company operates in, how long the company has been operating for, what percentage of the business has sufficient cash flow to cover the loan, as well as the overall health or financial standing of the company.
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 day one. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You can make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the total amount of your loan early at any time.
If you do decide to take this route, please contact our helpful business loan specialists. They’ll offer you with repayment details and an early payout figure. It will be calculated using the sum of the principal balance and the accrued interest up to the time of the early payout in addition to 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To ensure you do not miss payments and to work your cash flow schedule, we offer repayments that are either weekly or daily. They are automatically deducted from your designated company account.
Making sure that your information is secure, and being upfront about how we collect, use, exchange and secure your information, is vital and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account details online, allowing us to provide an immediate response.
Asset-based borrowing occurs when the company owner makes use of assets they own to get the funding. The asset may be an individual asset, such as the family home, or an company asset like a truck or piece of equipment.
The majority of lending institutions, including the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan then your assets could be sold by the lender. In essence, it is a way of securing new financing by using the worth of the asset you already have.
For loans up to $150,000 the requirement for asset security is not required before you are able to access the money but we do need an individual guarantee. So long as you comply with your loan obligations (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150K generally there is a personal guarantee and security is provided in the form of charges on assets.
