The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Check out the conditions of eligibility for our $100K-$500K company loan.
All that is needed to get started is your contact details (the name of your company and your name, as well as email or phone number), how much you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will require confirmation of who you are, but not to get started:
Additionally after we get started when it comes to loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
Apply to get the Small Business Loan in under 10 minutes over the phone, receive a same day response and the funds could be in your account in 24 hours. Traditional business loans reference an annual interest rate together with additional fees and charges. We offer a company loan is a loan that is priced upfront and you’ll know in advance the total amount due, which includes the interest, fees and charges. This is then broken down into either a daily or weekly installment amount.
The Small Business Loan can be used for nearly any company need, such as control of cash flow company remodels and marketing to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly depending on the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To be eligible for a loan of this size the business needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. The applicant must also 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 to prove at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly any company reason, such as company remodeling, buying new equipment or inventory as well as for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to access funding over $150,000. This can be done in the form of a charge over assets, and may include registering this through the PPSR or filing a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is general in nature, rather than stating the security of a specific asset. The person who is signing the ensure is personally responsible if the company lender is not able 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 registered in respect of personal property (including objects 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 filed to offer the public notice of a legal claim to property.
If you’re seeking the Larger Business Loan that exceeds $250K we can offer a preliminary pre-approval to help make the process. We could be able to make this decision without a credit check and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is not an offer or guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you receive could be on different conditions.
You can apply for an company loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and a dedicated company credit specialist will call you to guide you.
To apply for up to $100,000 you’ll need 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 to $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details for application including credit consent as well as 12 months of bank statements, IRD statements, last 2 years finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide a response in one hour, provided you apply in quality company timings and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can provide an answer in as little as an business day.
For the Larger Business Loan ($100K up to $500,000) we could be capable of provide you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some offers have been approved in less than 24 hours.
The quickest way to apply can be ensure you apply during normal company hours. You can also allow us to use the advance bank verification to instantly verify your bank account information online. If you decide to upload the copies of bank statement, it may take a bit longer.
For the Small Business Loan ($5K or more) we usually provide a response in one hour – as long as you make your application at standard business times and let us make use of the advanced bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statements, we will be able to offer an answer within the span of one business day.
For the Larger Business Loans ($100K and up) we could be capable of offer you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however it could be faster based on the particular circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest method is to make sure you apply during standard business hours and permit us to use the advance bank verification link to verify your bank information online. If you decide to send us documents from your account statements it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we look at a variety of variables in order to assess your well-being of the business and the extent of payments your company will be able to support. The amount you receive from the loan will be determined by the specifics that are unique to your business.
When you make an application for a particular amount, we take into consideration a variety of elements to determine the well-being of the business as well as the amount of the repayments your business will be able to support. The amount you receive from your loan will be determined by the particulars the business.
If you decide to make an application for business loans with us business financing, we will assess the risk assessment for your business and provide you with a customised offer that includes the loan amount, the terms and the interest rates. It is a business loan is an upfront-priced loan and you’ll know the exact amount you will have to pay, including costs, fees, or interest rates.
Interest rates for business loans rates differ based on various factors including the amount borrowed, the company assets the funds are used to purchase, the industry the business is in, how long the business is in operation and in the event that the company has sufficient cash flow to support the loan, as well as the overall health or financial standing of the company.
There are no hidden costs with our business loans, and you’ll know precisely how much you need to pay and when, starting from the first day. There’s not any compounding interest and no extra fees (as long as you are able to make your payments on time).
We do not charge an application fee. You are able to apply for a loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can choose to repay the total amount of your loan in full at any time.
If you do decide to pursue this option, please contact our helpful business credit specialists. They’ll provide you with details for repayment as well as an early payout amount. The figure will be calculated as the sum of the principal balance and accrued interest to the time of the early payout in addition to 1.5% of the remaining principal and any fees that remain unpaid.
To help you avoid missing payment dates and to align your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your nominated business account.
Security of your data, and being clear about how we collect, use, exchange and secure your information, is of huge importance and a vital aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We use an advanced bank verification system that allows you to immediately verify your bank account details online so we can provide an immediate response.
The term "asset-based" refers to borrowing where a business owner makes use of an asset they own to make the loan. The asset may be an individual property, such as the family home or an company asset such as a vehicle or piece or equipment.
The vast majority of lenders, not just the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan, the asset might be taken over by the lender. In essence, it is a way of securing new financing using the value of what you already have.
For loans up to $150,000 there is no requirement for asset security in advance to gain access to the funds however, we do need the personal guarantee. So long as you comply with the loan terms (as specified in the loan contract) the security of assets is not needed. For loans that exceed $150K, generally, you can get personal ensure and security in the form charges on assets.
