The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Check out the conditions of eligibility for our $100K to $500K company financing.
All you need to get started is your contact details (company name, your name, email or phone number), how much you’d like to lend, and your monthly revenue.
In the course of the process and before settlement we will need confirmation of who you are, but not to get started:
After we start when it comes to loans of more than $150,000 you’ll need fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes on the internet or over the phone, receive an instant response and the funds could be in your account in 24 hours. Traditional business loans reference an annual rate of interest plus other fees and charges. Our company loan is a pre-paid loan so you will be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then divided into a daily or weekly installment amount.
It is a Small Business Loan can be used for virtually every business reason, such as the management of cash flow, business remodels and marketing for purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size the company 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) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A large company loan is a great option for almost any business use, including company remodeling, buying equipment or inventory for general working capital and so much more. The loan cannot be used for personal use.
Asset security is needed for funding of more than $150,000. This is in the form of a charge on assets, and may include registration in the PPSR or filing a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is generally based rather than defining security over an asset. The person who signs the ensure is personally liable in the event that the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR grants priority over personal property to be assigned in accordance with the date on which a security interest has been registered.
A caveat is a legal document filed to provide the legal claim to a property.
If you’re requesting the Larger Business Loan of $250,000 or more we may be able to provide a preliminary pre-approval to help smooth out the process. It is possible to make this decision without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes answering a couple of financial well-being questions. It’s neither an offer nor a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you might receive could be on different conditions.
You may apply for an company loan if you;
The application process is quick and simple. Just complete the online application in few minutes and a dedicated company loan specialist will contact you to assist you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s License), a valid NZBN/IRD and at least 6 months 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 the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically provide an answer within an hour if you make your application during standard business hours and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements , we’ll be able to provide an answer within one business day.
If you are applying for a Larger Business Loan ($100K or more) we might be in a position to provide you with a conditional pre-approval within 6 hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Some deals have been approved in less than 24 hours.
The most efficient method would be to make sure you apply during normal business hours. You can also allow us to use our modern bank verification to instantly 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 up to $100,000) we can often offer an answer in just one hour – as long as you make your application during standard business times and you allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements, we are able to offer a decision in as little as one business day.
For the Larger Business Loans ($100K or more) we may be able to provide you with a conditional pre-approval within 6 hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, it could be faster based on the specifics of each application. Some offers have been approved in just 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours. You can also let us use the advance bank verification to instantly verify your bank account information online. If you choose to upload documents from your account statements, it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you make an application for a certain amount, we will consider a number of elements for determining the well-being that is your company as well as the amount of repayments your company can afford. The amount you receive from your loan will depend on the particular circumstances the business.
When you apply for a certain amount, we take into consideration a variety of aspects to assess your health for your business and 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 company.
If you decide to request our business credit, we will assess the risk assessment for your business and provide an individualised proposal that includes loan amount, term and the interest rates. The business loan is an upfront-priced loan which means you know in advance the total amount to be paid, including any interest rates, fees or charges.
Interest rates for business loans rates depend on several factors including the amount of money borrowed, the company assets the money are used to purchase, the industry the business is in, how long the company has been running, what percentage of the business has enough cash flow to cover the loan, and also the overall health and creditworthiness of the company.
There aren’t any hidden costs for our business loans, and you’ll know exactly how much it is that you need to pay, and when, right from day one. There’s no compounding interest, and no extra fees (as as long as you pay your payments in time).
We do not charge an application fee. You can request a credit loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can repay all of your loan early at any time.
If you choose to take this route, please contact our helpful company loan experts. They will provide you with repayment details as well as an early payout amount. The figure will be calculated as the sum of the principal remaining and any accrued interest at the time of the early payout plus 1.5 percent of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align with your cash flow general, we offer repayments that are either daily or weekly. These are automatically withdrawn from your business account.
Security of your data, and being clear about how we collect information, use it, and exchange it, as well as protect your information, is crucial and a vital 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 certified for our dedication to the security of our customers as well as their security. We employ a highly sophisticated bank verification system link to immediately verify your bank account information online so we can provide an immediate response.
An asset-based loan is when the company owner borrows from the assets they have to make a loan. The asset can be either an individual property, such as the family home or a business property like a truck or piece of equipment.
The majority of lenders, even the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan, your asset may be offered for sale by the lender. In essence, it is an opportunity to secure new funding using the worth of the asset you already have.
For loans that exceed $150,000, there is no requirement for asset security before you are able to access the money, however we do require an individual guarantee. In the event that you fulfill your loan commitments (as stated in your loan contract document) Asset security is not required. For loans that exceed $150K, generally there is a personal guarantee and security that is in the form a charge over assets.
