The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K company financing.
All that’s needed to begin is your contact information (the name of your company, your name, email or phone number) along with the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we’ll need confirmation of your identity however, not in order to begin:
Once we’ve started, for loans over $150,000 you will also require the following financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
The application to your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive a same day response and the money could be on your account within 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. This business loan is a loan that is priced upfront which means you know in advance the total amount due, which includes any interest, fees or charges. Then, it is divided into a daily or weekly payment amount.
The Small Business Loan can be used for almost every business purpose including the management of cash flow, business improvements, advertising, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To qualify for a loan of this size the business needs to have been operating for at least three years and have an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger company loan can be used for nearly all business reason, such as business remodeling, buying inventory or new equipment for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This is in the form of a charge against assets, and may be registered in the PPSR or making as a caveat.
A personal or director’s ensure is a guarantee to repay a loan which is general in nature, rather than stipulating security over an asset. The person who signs the guarantee is personally liable in the event that the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR allows prioritisation over property that is personal to be granted according to the date the security interest has been registered.
Caveats are legal document filed to provide notice of a legal claim to property.
If you’re requesting larger company loans of more than $250,000 it is possible to offer an initial pre-approval to make the process. It is possible to apply for this without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves answering a couple of financial health questions. It is not an offer of credit or guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you receive could be on different terms.
You may apply for an company loan if you
The application process is quick and simple. Just complete the online application in just a few minutes, and a dedicated company credit specialist will call you to guide you through the process.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application details including credit consent, 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 as well as 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K or more) we usually provide a response in one hour if you make your application during quality company time and permit us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your banking statements , we are able to offer an answer in just 1 company day.
For the Larger Business Loan ($100K up to $500,000) we could be capable of offer you with conditional pre-approval in about six hours. After 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 transactions have received approval within 24 hours.
The fastest way can be make sure you apply during standard company hours and allow us to use our modern bank verification link to instantly verify your bank account information online. If you choose to upload duplicates of your banking statements , it can take a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within one hour if you make your application in normal 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 are able to offer the decision within one business day.
For Larger Business Loans ($100K up to $500,000) We may be in a position to provide you with a conditional pre-approval within about 6 hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain agreements have been approved in just 24 hours.
The fastest way is to make sure you apply during normal business hours. Also, allow us to use the sophisticated bank verification to verify your bank account information online. If you upload duplicates of your banking statements, it will take a little longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount, we will consider a number of variables in order to assess what is the well-being of the business and the level of payments your company can support. The amount you receive from your loan will depend on the particular circumstances for your business.
When you apply for a certain amount, we look at a range of elements to assess your well-being for your business and the amount of repayments your company can support. The total amount of your loan will depend on the specifics that are unique to your company.
When you request business loans with us business loan, we will assess the risk assessment for your business and provide you with a customised offer including the amount of the loan, the duration and the interest rates. A company loan is an upfront cost loan and you’ll know the exact amount you will have to pay, including interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors like the amount of money that is borrowed, what company assets the money will be used for in addition to the industry that the company is in, how long the company is in operation as well as what percentage of the business has enough cash flow to support the loan, as well as the general health or financial standing of the company.
There aren’t any hidden costs with our company loans. You’ll be aware of the amount it is that you need to pay and at what time, from the first day. There’s no compounding interest and no extra fees (as long as you are able to make your payments in time).
We don’t charge an application fee. You can request a credit loan with with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the entire amount of your advance loan at any time.
If you do decide to take this route, please contact our helpful company credit professionals. The experts will provide you with the details of your repayment along with an early payout estimate. This is calculated as the sum of the principal remaining and accrued interest to the time of early payout plus 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from the nominated business account.
Security of your data, and being clear about how we collect the information we collect, use, share and secure your information, is crucial and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to security for our customers and privacy. We employ an exceptionally sophisticated bank verification system to immediately verify your bank account information online to offer a fast response.
Asset-based borrowing is when a company owner borrows from the assets they have to secure a loan. The asset can be a personal asset like the family home or an company asset like a truck or piece of equipment.
The majority of banks, including the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan, the asset could be taken over by the lender. In essence, it is means of securing new funding making use of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security prior to the loan’s access, however we do require the personal guarantee. If you adhere to the loan terms (as stated in the loan contract) the security of assets will never be required. For loans over $150,000 generally, you are able to get personal ensure and security in the form of a charge over assets.
