The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K company financing.
All that’s required for starting is your contact details (company name, your name, email or phone number) and the amount you’d like to borrow and your monthly income.
During the process and before settlement we’ll require confirmation of who you are but not before we can begin:
After we start, for loans greater than $150,000 you will also need fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
The application for this Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and the funds could be on your account within 24 hours. Traditional business loans reference an annual rate of interest plus other fees and charges. The company loan is an upfront priced loan so you will know in advance the amount you will have to pay, including the interest, fees and charges. This is then broken down into weekly or daily installment amount.
The Small Business Loan can be used for virtually any business need, such as the management of cash flow, business renovations, marketing, to purchase inventory or new equipment, for general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your situation.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large the business needs to be 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 of proving at minimum 12 months of business.
A larger company loan can be used to fund almost any business reason, such as business improvements, purchasing equipment or inventory for general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is required to obtain funding above $150,000. This is by way of charge on assets, which could also be registered on the PPSR or registering a caveat.
A personal or director’s ensure is a commitment to pay off a credit line that is generally in nature rather than defining the security for a particular asset. The person who is signing the guarantee is personally accountable if 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 lists security interests that are which are registered with respect to personal property (including items or assets). The PPSR allows preference over private property granted according to the date the registration of a security interest.
Caveats are legal document lodged to provide notice of a legal claim on a property.
When you’re applying for a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval in order to simplify the process. We could be able to do this without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial health questions. This is in no way an offer, nor is it a guarantee of finance. The approval of a conditional loan is subject to a full credit assessment and any offer that you are offered could be based on different conditions.
You are eligible to apply for an business loan if you;
The application process is fast and easy. Simply complete the online form within a couple minutes, and an experienced business loan specialist will contact you to guide you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Application details including credit consent and 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically provide a response in one hour – as long as you apply in quality company time and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statements , we’ll be able to offer a decision in just an company day.
For the Larger Business Loan ($100K to $500K) we might be in a position to offer you with pre-approval conditional to your application within six hours. Once you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Some agreements have been approved in less than 24 hours.
The quickest way to apply can be ensure you apply during standard company hours and allow us to use our advance bank verification to confirm your bank details online. If you opt to upload copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within one hour – as long as you submit your request at standard business times and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you want to submit copies of your bank statements, we are able to offer the decision in just an business day.
For Larger Business Loans ($100K up to $500,000) We may be capable of offer the conditional pre-approval within 6 hours. After you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Some transactions have received approval within less than 24 hours.
The fastest way is to ensure you apply during standard business hours, and let us use the advanced bank verification system to instantly verify your bank information online. If you choose to upload duplicates of your banking statements, it will take a little longer.
We provide loans that range from $5,000 and $500,000. If you apply for a specific amount we look at a variety of factors for determining what is the well-being of your company and the level of repayments that your company can support. The amount you receive from your loan will depend on the particular circumstances that are unique to your business.
When you submit an application for a specific amount we consider a variety of aspects to assess your well-being for your company and the amount of repayments that your business can support. The total amount of your loan will be determined by the particulars for your business.
When you make an application for one of our company loan, we’ll assess the risk assessment for your business and offer you with a customised offer that includes loan amount, term and interest rates. It is a company loan is an upfront cost loan so you will know the exact amount payable including any charges or interest.
Interest rates for business loans rates differ based on various factors such as the amount that is of money borrowed, the company assets the funds are used to purchase as well as the field the business operates in, the long the company has been in operation as well as what percentage of the business has enough cash flow to fund the loan, as well as the overall well-being or creditworthiness of the company.
There are no hidden costs with our business loans, and you’ll know precisely how much you’ll be required to pay and at what time, from the day you sign up. There’s no compounding interest and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an application fee. You are able to apply for a loan with no cost upfront or 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 proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of your loan in full at any time.
If you do decide to take this route, please talk to one of our helpful company lending specialists. They will offer you with details on repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and accrued interest to the date of early payout in addition to 1.5% of the remaining principal and any fees that remain unpaid.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and being transparent about how we collect, use, exchange and protect your information, is of huge importance and is a crucial element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and security. We employ an exceptionally sophisticated banking verification system to immediately verify your bank account details online. This allows us to provide rapid response.
Asset-based borrowing occurs when an company owner makes use of an asset they own to make the loan. The asset can be a personal asset like the family home or a business asset such as a truck or other piece of machinery.
The vast majority of lenders, not just the major banks, prefer to secure loans against assets. If you have trouble paying back the loan, your asset may be sold by the lender. In essence, it’s an opportunity to secure new financing using the worth of the asset you already have.
Up to $150K in loans it is not necessary to secure assets in advance to gain access to the funds but we do need the personal guarantee. In the event that you fulfill your loan obligations (as stipulated in your loan contract document) Asset security will never be needed. If you take out loans in excess of $150K typically, you will need the option of a personal guarantee and security that is in the form the charge of assets.
