The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Find out the guidelines for eligibility for our $100K to $500K company credit.
All that’s needed to get started is your contact information (company name, your name, email and telephone) as well as the amount you’d like to borrow, and your monthly earnings.
In the course of the process and before settlement we will require confirmation of your identity, but not before we can begin:
In addition, once we have started with loans greater than $150,000 you’ll require basic financial statements.
Let’s get started now.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and funds may be on your account within 24 hours. Traditional company loans reference an annual interest rate together with additional fees and charges. Our business loan is an upfront priced loan which means you know ahead of time the total amount to be paid, including any fees, interest or charges. This is then broken down into either a daily or weekly amount to be paid back.
A Small Business Loan can be used for almost every company reason, such as cash flow management, business improvements, advertising 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 loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be operating for a minimum of 3 years, and have an annual income of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger company loan is a great option for almost any company purpose including business improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required to obtain funding above $150,000. This can be done by taking a charge against assets and can include the registration of this through the PPSR or making a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature rather than stating security over a particular asset. The person who is signing the guarantee is personally liable in the event that the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR permits preference over private property granted according to the date a security interest has been registered.
A caveat is a legal document that is filed to provide the legal claim to property.
If you’re seeking a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval to ease the process. We might be able to do this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial assessment that includes you answering some financial health questions. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you receive could be subject to different conditions.
You are eligible to apply for an business loan if you;
The application process is quick and easy. Complete the online form in just a few minutes, and an experienced company loan specialist will be in touch to help you.
To apply for up to $100,000, you’ll need ID details (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Information on the application including credit consent and 12 months bank statement, an IRD statement, last 2 years finalised financial statements, plus interim current financial year financials as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K to $100K) we typically provide an answer in just one hour, provided you apply in quality business timings and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements , we will be able to provide an answer in as little as the span of one company day.
For the Larger Business Loan ($100K and up) we might be in a position to provide you with pre-approval conditional to your application within about 6 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 specifics of each application. Some transactions have received approval in less than 24 hours.
The fastest way would be to make sure you apply during standard company hours. You can also allow us to use the advance bank verification to confirm your bank details online. If you send us the copies of bank statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer a response in one hour – as long as you submit your request during standard business timings and permit us to use the bank verification system link to instantly verify your bank details online. If you choose to send us copies of your bank statements, we are able to offer an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K or more) We may be in a position to provide you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this may be quicker depending on the specifics of each application. Some agreements have been approved within less than 24 hours.
The most effective method can be ensure you apply during normal business hours. Also, allow us to use our advance bank verification link to instantly verify your bank account information online. If you choose to send us the copies of bank statements it will take a little longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a particular amount, we look at a variety of factors that determine the well-being for your business as well as the amount of the repayments your business is able to afford. The total amount of your loan will be contingent on the particular circumstances of your company.
When you submit an application for a particular amount, we look at a range of variables to assess your health of the company as well as the amount of the repayments your business can afford. The total amount of your loan will depend on the specifics that are unique to your business.
If you decide to apply for the company loan, we’ll assess the risk profile the company and offer you with a tailored offer including the amount of loan, the term and the interest rates. The business loan is a loan that is priced upfront therefore you will know in advance the total amount payable including any charges or interest.
Interest rates for company loans rates depend on several factors such as the amount that is of money borrowed, the company assets the funds will be used for as well as the field the business operates in, how long the business has been running for, whether the business has sufficient cash flow to pay for the loan, and general well-being as well as creditworthiness company.
There aren’t any hidden charges for our company loans. You’ll know precisely how much you’ll need to pay and when, from the day you sign up. There’s no compounding interest and no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You can make an application for loans with with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay the entire amount of your loan at any point in time.
If you do decide to do this please talk to one of our helpful company loans experts. They’ll offer you with repayment details and an early payment figure. The figure will be calculated as the sum of the principal balance plus any accrued interest as of the time of early payout and 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow schedule, we offer repayments that are either daily or weekly. These are automatically deducted from your nominated company account.
Protecting your information, and being clear about the ways we gather information, use it, and exchange it, as well as safeguard your data, is crucial and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to customer security and privacy. We use an advanced bank verification system that allows you to instantly verify your bank account information online to offer quick responses.
Asset-based borrowing is when a company owner uses the assets they have to obtain the loan. The asset can be either an asset belonging to the personal, like the family home, or it could be a company asset like a truck or piece or equipment.
The majority of lenders, including the banks with the biggest size, prefer to guarantee loans against an asset. If you have trouble paying back the loan then the asset could be offered for sale by the lender. In essence, it is the process of securing new financing by making use of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. require the personal guarantee. So long as you comply with the loan terms (as stated in your loan contract document), asset security is not required. For loans over $150,000 generally, there is personal ensure and security is provided in the form of the charge of assets.
