The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Review the conditions of eligibility for our $100K to $500K business financing.
All that’s needed to get started is your contact details (company name and your name, as well as email and phone) along with the amount you’d like to borrow and your monthly income.
During the process and before settlement we will need confirmation of who you are however, not in order to begin:
After we start in the process, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes over the phone, receive a same day response and have the funds available in just 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. Our business loan is a cash-based loan therefore you’ll know in advance the amount you will have to pay, including any interest, fees or charges. This is then divided into a daily or weekly payment amount.
A Small Business Loan can be used for virtually any business need, such as the management of cash flow, company remodels and marketing for purchasing inventory or new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly depending on your situation.
This Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the amount of the loan.
To qualify for a loan that is this large the business needs to have been trading for at least 3 years with an annual turnover of $700,000. The applicant must also 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 larger company loan can be used to fund almost all business reason, such as business renovations, purchase of new equipment or inventory for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s by taking a charge against assets, and may include registering this on the PPSR or the registration of a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature, rather than stating the security of a specific asset. The person who signs the ensure is personally liable in the event that the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be granted in accordance with the date on which a registration of a security interest.
An affidavit is an official document filed to offer the public notice of a legal claim against a property.
When you’re applying for a Larger Business Loan that is greater than $250K, we may offer an initial pre-approval that will help smooth out the process. We might be able to get this done without a credit verification and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes you answering a few financial well-being checks. This is not an offer of credit or guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you are offered could be based on different conditions.
You may be eligible for a business loan if you:
The process for applying is fast and easy. Simply complete the online form in just a few minutes, and an experienced business expert in lending will call you to help you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K – $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent, 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, as well as interim financial statements for the current year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we usually offer an answer in just one hour if you apply during standard company time and let us use 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’ll be able to provide an answer in as little as 1 company day.
For the Larger Business Loan ($100K up to $500,000) we could be in a position to provide you with conditional pre-approval within 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be quicker based on the particular circumstances of each application. Certain offers have been approved in less than 24 hours.
The most effective method is to ensure you apply during standard company hours. You can also allow us to use our modern bank verification to verify your bank account information online. If you opt to upload copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K or more) we usually offer a response in one hour – as long as you submit your request during normal business timings and let us use the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements, we are able to provide an answer within the span of one business day.
For Larger Business Loans ($100K to $500K) we may be in a position to offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Certain agreements have been approved in just 24 hours.
The most efficient method would be to make sure you apply during standard business hours. Also, let us use the advance bank verification link to check your bank’s information online. If you choose to upload documents from your account statements, it will take a little longer.
We provide loans that range from $5,000 and $500,000. If you apply for a certain amount we will consider a number of elements that determine what is the health of the business and the level of repayments that your business can support. The total amount of your loan will depend on the specific circumstances the company.
When you make an application for a particular amount, we will consider a number of elements to determine the health of the company and the level of repayments that your business can afford. The amount you receive from the loan will be determined by the particular circumstances the company.
When you apply for the company financing, we’ll assess the risk assessment of your business and offer you with a customised offer including the loan amount, the terms and interest rates. This company loan is an upfront priced loan therefore you will know the exact amount to be paid, including any interest rates, fees or charges.
Business loan interest rates vary due to variables like the amount to be that is borrowed, what business assets the money are used to purchase as well as the field the company is in, how long the business is in operation for, whether the company has enough cash flow to pay for the loan, as well as the overall health and creditworthiness of the company.
There aren’t any hidden costs for our company loans. You’ll know precisely what it is that you be required to pay, and when, starting from the day you sign up. There’s no compounding interest and no additional fees (as as long as you pay your payments in time).
We don’t charge an Application Fee. You are able to get a cash loan with without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can choose to repay the entire amount of your advance loan at any time.
If you are deciding to do this please contact our helpful business credit experts. They will offer you with details for repayment as well as an early payout amount. This is calculated as the sum of the principal remaining and any accrued interest at the time of the early payout in addition to 1.5% of the principal amount remaining and any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from your company account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We utilise a sophisticated bank verification system link to immediately verify the bank account details online, allowing us to provide a fast response.
Asset-based borrowing occurs when a business owner uses assets they own to obtain a loan. The asset could be a personal asset like the family home or it could be a company asset such as a truck or piece or equipment.
The majority of banks, not just the banks with the biggest size, prefer to secure loans against an asset. If you’re struggling to pay back the loan, the asset might be offered for sale by the lender. In essence it’s the process of securing new financing using the value of what you already have.
For loans of up to $150,000, there is no requirement for asset security prior to the loan’s access However, we do require an individual guarantee. If you adhere to your loan commitments (as stated in your loan contract) Asset security will never be needed. If you take out loans in excess of $150K generally there is the option of a personal guarantee and security in the form a charge over assets.
