The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Do you require more money? Review the guidelines for eligibility for our $100K-$500K business financing.
All that is needed to start is your contact information (the name of your company, your name, email and telephone) along with the amount you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not to get started:
In addition, once we have started, for loans over $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, cash flow-friendly repayments which can be made daily or weekly.
You can apply to your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and have the funds in your account in 24 hours. Traditional business loans reference an annual interest rate along with other charges and fees. This business loan is an upfront priced loan and you’ll know in advance the amount you will have to pay, including any fees, interest or charges. This is then broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used for almost any business need, such as managing cash flows, company improvements, advertising, to purchase inventory or new equipment, to fund 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 company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount, your business needs to be trading for at least 3 years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Larger Business Loan can be used to fund almost every business need, including business renovations, purchase of new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary for accessing funds over $150,000. It is usually by way of charge against assets, and may be registered in the PPSR or registering as a caveat.
A director’s or personal ensure is a commitment to pay off a credit line that is generally in nature rather than specifying security over an asset. The person who signs the guarantee is personally responsible if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR grants the priority of personal property granted in accordance with the date on which a security interest has been registered.
An affidavit is an official document lodged to offer the legal claim to property.
If you’re applying for the Larger Business Loan that exceeds $250K, we may offer an initial pre-approval that will help simplify the process. It is possible to get this done without credit checks and within six hours of your initial application. The pre-approval process is based on an initial assessment, which involves the answer to a series of financial well-being checks. This is not an offer of credit or guarantee of funds. A conditional approval is subject a full credit assessment and any offer you may receive may have different terms.
You are eligible to apply for an company loan if you:
The process for applying is fast and easy. Simply complete the online form within a couple minutes, and an experienced company lending specialist will be in touch to guide you through the process.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent and 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) we usually provide an answer within an hour if you make your application at standard company time and allow us to use the advanced bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements , we are able to offer an answer in as little as the span of one company day.
For the Larger Business Loan ($100K or more) we may be in a position to offer you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Certain deals have been approved in less than 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours and permit us to use the modern bank verification to verify your bank information online. If you opt to send us the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within an hour – as long as you submit your request during standard business timings and you allow us to use the bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statements, we will be able to provide a decision within 1 business day.
If you are applying for Larger Business Loans ($100K or more) We may be in a position to provide you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be faster depending on the specifics of each application. Some transactions have received approval within the space of 24 hours.
The most effective method can be ensure you apply during normal business hours and let us use the advance bank verification link to instantly verify your bank information online. If you choose to upload duplicates of your banking statements it takes a bit longer.
We provide loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we take into consideration a range of factors for determining your well-being of your business as well as the amount of repayments that your company will be able to support. The amount you receive from your loan will be contingent on the specifics the business.
If you apply for a particular amount, we will consider a number of elements to assess the well-being of the business and the level of payments your company is able to afford. The amount you receive from your loan will depend on the specific circumstances of your business.
If you decide to make an application for one of our company loans, we’ll assess the risk profile that you have for your company and provide an individualised offer, including the amount of the loan, the duration and interest rates. A business loan is an upfront priced loan and you’ll be aware in advance of the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates differ based on various factors including the amount borrowed, what business assets the money are used to purchase, the industry the business is in, how long the company has been running and whether the business has sufficient cash flow to pay for the loan, and the general well-being or creditworthiness of the company.
There aren’t any hidden costs with our company loans, and you’ll know exactly how much you’ll need to pay and when, right from the first day. There’s not any compounding interest and there are no additional charges (as as long as you pay your payments on time).
We do not charge an application fee. You can apply for a loan with no upfront cost or obligation to proceed.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the entire amount of the advance loan at any time.
If you decide to take this route, please speak to our friendly business credit professionals. They’ll provide you with details for repayment as well as an early payout amount. This will be calculated as the sum of the principal remaining and any accrued interest at the time of early payout plus 1.5 percent of the principal balance plus any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your designated company account.
Security of your data, and making it clear how we collect the information we collect, use, share and protect your information, is vital and is a crucial aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of clients and security. We employ a highly sophisticated banking verification system to instantly verify your bank account information online so we can offer rapid response.
Asset-based borrowing is when a company owner makes use of an asset they own to get the funds for a loan. The asset may be an individual property, such as the family home or it could be a business asset such as a truck or other piece of machinery.
The majority of banks, not just the largest banks, are inclined to guarantee loans against an asset. If you are having difficulty 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 value of what you already own.
Up to $150K in loans there is no requirement for asset security in advance to gain access to the funds however, we require a personal guarantee. need an individual guarantee. If you adhere to the terms of your loan (as specified in your loan contract) Asset security is not required. For loans that exceed $150K, generally, you are able to get a personal guarantee and security that is in the form the charge of assets.
