The criteria for eligibility for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company credit.
All that is needed to start is your contact information (the name of your company, your name, email, phone) and the amount you’d like to borrow, and your monthly earnings.
While in the process and before settlement we’ll require confirmation of your identity, but not to get started:
In addition, once we have started in the process, for loans over $150,000 you’ll need basic financial statements:
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Sydney unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
You can apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and funds may be available in just 24 hours. Traditional business loans reference an annual rate of interest plus other fees and charges. Our business loan is a loan that is priced upfront so you will know ahead of time the amount you will have to pay, including the interest, fees and charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used to fulfill almost every business purpose including managing cash flows, business renovations, marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
To qualify 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) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large company loan can be used for almost all business use, including company renovations, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. It’s by taking a charge on assets, and may include the registration of this on the PPSR or the registration of a caveat.
A personal or director’s ensure is a guarantee to repay credit that is generally based rather than defining security over a particular asset. The person signing the guarantee is personally liable in the event that the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests that are registered for personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned according to the date the registration of a security interest.
Caveats are legal document that is filed to offer notice of a legal claim to a property.
When you’re applying for the Larger Business Loan that exceeds $250,000 it’s possible to offer an initial pre-approval in order to make the process. We could be able to apply for this without a credit check and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial well-being questions. It is not an offer of credit or guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you receive could have different conditions.
You can apply for a company loan if you:
The application process is fast and simple. Simply complete the online form in few minutes and a dedicated business credit specialist will call you to help you.
To be eligible for up to $100,000, you’ll require the right identification documents (valid Driver’s License) as well as an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent, 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) we usually offer an answer within an hour – as long as you apply in standard business times and you allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements , we are able to provide the decision in just one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be in a position to offer you with pre-approval conditional to your application within 6 hours. After you’ve signed your pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this could be shorter based on the specifics of each application. Some transactions have received approval within 24 hours.
The fastest way would be to make sure you apply during standard company hours. You can also allow us to use our modern bank verification link to instantly verify your bank information online. If you upload copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K or more) we can often provide a response in one hour – as long as you submit your request at standard business timings and allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to send us copies of your bank statements we can offer an answer within 1 business day.
For the Larger Business Loans ($100K to $500K) we may be able to offer you with a conditional pre-approval in about six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some transactions have received approval within just 24 hours.
The most effective method can be ensure you apply during normal business hours and allow us to use the advanced bank verification system link to check your bank’s information online. If you upload documents from your account statement, it will take a little longer.
We offer loans that range from $5,000 and $500,000. If you apply for a certain amount, we will consider a number of factors in order to assess the well-being of your business as well as the amount of payments your company can afford. The amount you receive from your loan will depend on the specifics that are unique to your company.
If you apply for a specific amount we will consider a number of factors to determine how much we can lend you such as well-being of your business as well as the amount of the repayments your company will be able to support. The amount you receive from your loan will be determined by the particular circumstances that are unique to your business.
If you decide to make an application for the business loan, we’ll assess the risk assessment that you have for your business and provide an individualised offer that includes the amount of the loan, the duration and interest rates. It is a company loan is a loan that is priced upfront therefore you will know the exact amount to be paid, including any costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of factors such as the amount that is of money borrowed, the company assets the money will be used for and the sector the business is operating in, how long the business has been operating and in the event that the company has enough cash flow to cover the loan, and the general well-being or financial standing of the business.
There are no hidden fees with our company loans, and you’ll know precisely what you need to pay and when, right from day one. There’s no compounding and no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You can get a cash loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay the entire amount of the loan early at any time.
If you choose to take this route, please talk to one of our helpful company credit specialists. They will offer you with details for repayment and an early payout figure. It will be calculated using the total of the principal remaining and any accrued interest at the time of early payment, plus 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. These are automatically deducted from your designated company account.
Security of your data, and making it clear the ways we gather data, process, exchange and protect your information, is vital and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to protecting the security of clients and security. We employ a highly sophisticated bank verification system that allows you to immediately confirm your bank account information online. This allows us to provide quick responses.
An asset-based loan is when a company owner uses the assets they have to secure the funds for a loan. The asset may be an asset belonging to the personal, like the family home or a company asset like a truck or piece of equipment.
The majority of lenders, including the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan, your asset may be taken over by the lender. In essence, it is means of securing new funding making use of the value of what you already have.
For loans up to $150K the requirement for asset security is not required upfront to access the money, however we do require the personal guarantee. In the event that you fulfill the terms of your loan (as stipulated in the loan contract) the security of assets is not needed. For loans of over $150,000 typically, you will need a personal guarantee and security in the form of an asset charge.
