The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business financing.
All that’s needed to start is your contact information (company name, your name, email and phone), how much you’d like to borrow and your monthly revenue.
During the process and before settlement we will need confirmation of who you are but not for starting:
After we start in the process, for loans greater than $150,000 you’ll also require fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
The application for the Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and have the funds on your account within 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. Our company loan is a cash-based loan so you will be aware in advance of the total amount payable including any fees, interest or charges. This is then broken down into either a daily or weekly repayment figure.
A Small Business Loan can be used to fulfill almost any business use, including control of cash flow company renovations, marketing, to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term up to 36 months. The repayments are made weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
To be eligible for a loan in this amount, your company needs to be in operation for at least 3 years and generate an annual revenue of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger company loan is a great option for almost every business purpose including business remodeling, buying inventory or new equipment for general working capital and much more. The loan is not available for personal use.
Asset security is required to obtain funding above $150,000. It’s as a result of an charge on assets, and could include the registration of this with the PPSR or filing as a caveat.
A personal or director’s ensure is a promise to pay back a loan that is generally in nature rather than defining security over an asset. The person who signs the guarantee is personally accountable if the business creditor 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 reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted in accordance with the date on which a security interest that is registered.
A caveat is a legal document lodged to provide an official notice of a claim on a property.
If you’re applying for a Larger Business Loan of $250K or more, we may offer an initial pre-approval to make the process. It is possible to get this done without a credit verification and within six hours of your initial application. This pre-approval is based on an initial assessment that includes the answer to a series of financial health questions. This is not an offer of credit or guarantee of finance. A conditional approval is subject an exhaustive credit evaluation, and any offer that you receive could be based on different terms.
You may be eligible for an business loan if you:
The application process is fast and simple. Simply complete the online form in just a few minutes, and an experienced business credit specialist will be in touch to guide you through the process.
To apply for up $100,000 you’ll require proof of identity (valid Driver’s Licence) and a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $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 such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K and up) we can often offer an answer within one hour – as long as you submit your request at standard business time and let us use the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements we can provide a decision within the span of one business day.
If you are applying for a Larger Business Loan ($100K or more) we might be likely to provide you with pre-approval conditional to your application within 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard company hours, and allow us to use the advanced bank verification system link to verify your bank information online. If you upload documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we typically provide an answer within an hour – as long as you make your application in normal business times and allow us to use the bank verification system link to instantly verify your bank information online. If you want 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 could be in a position to offer you with a conditional pre-approval in around six hours. Once you’ve signed your pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based upon the circumstances for each application. Some agreements have been approved in less than 24 hours.
The fastest method would be to 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 upload documents from your account accounts, 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 that determine your health of the business and the amount of repayments your company is able to afford. The amount you receive from your loan will be contingent on the specific circumstances for your company.
When you submit an application for a specific amount we will consider a number of elements to determine how much we can lend you such as well-being of your company and the extent of repayments that your company can afford. The total amount of the loan will be determined by the specifics for your business.
If you decide to apply for one of our business loan, we will assess the risk profile the company and offer an individualised offer that includes the loan amount, the terms and the interest rates. A business loan is a loan that is priced upfront and you’ll know the exact amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of factors like the amount of money borrowed, the company assets the money will be used for and the sector the company operates in, how long the business has been operating as well as in the event that the business has sufficient cash flow to pay for the loan, and also the overall well-being and creditworthiness of the business.
There are no hidden fees with our business loans. You’ll know precisely how much you be required to pay and when, right from day one. There’s no compounding and no additional fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You can apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back all of your loan at any point in time.
If you choose to pursue this option, please call our helpful business credit professionals. They will offer you with details for repayment along with an early payout estimate. This is calculated as the sum of the principal remaining and accrued interest to the time of the early payout plus 1.5% of the principal remaining and any outstanding fees.
To help you avoid missing payment dates and to align your cash flow schedule, we offer repayments that are either daily or weekly. They will be automatically deducted from your company account.
Protecting your information, and knowing the ways we gather the information we collect, use, share and ensure the security of your information is of paramount importance and a vital part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and security. We make use of an advanced bank verification system that allows you to instantly verify your bank account details online. This allows us to provide quick responses.
Asset-based borrowing occurs when the company owner utilises assets they own to get a loan. The asset could be an individual asset, such as the family home or a business asset like a truck as well as a piece of machine.
The vast majority of banks, even 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 taken over by the lender. In essence it’s the process of securing new funding making use of the value of what you already have.
For loans up to $150,000 no asset security is required upfront to access the money however, we require a personal guarantee. require an individual guarantee. So long as you comply with your loan obligations (as specified in your loan contract) the security of assets will never be required. For loans over $150K generally there is personal guarantee and security that is in the form the charge of assets.
