The requirements for getting an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K business loans.
All you need to begin is your contact details (company name and your name, as well as email or phone number) along with the amount you’d like to borrow and your monthly earnings.
While in the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
Once we’ve started with loans of more than $150,000 you’ll require basic financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
It is imaginable to apply to your Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and the money could be on your account within 24 hours. Traditional company loans are based on an annual rate of interest as well as other fees and charges. This business loan is a pre-paid loan so you will be aware in advance of the total amount to be paid, including the interest, fees and charges. This is then broken down into either a daily or weekly payment amount.
It is a Small Business Loan can be used for nearly every business purpose including managing cash flows, business remodels and marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan in this amount, your company needs to be operating for a minimum of 3 years with an annual turnover of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost all company purpose including business renovations, purchase of new equipment or inventory or as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is required for funding of more than $150,000. It’s as a result of an charge on assets and can include the registration of this with the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature, rather than stating security over a particular asset. The person who signs the guarantee is personally liable if the business borrower is unable 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 that are registered for personal property (including goods or assets). The PPSR gives preference over private property granted in accordance with the date on which a registration of a security interest.
An affidavit is an official document that is filed to offer notice of a legal claim against a property.
If you’re applying for larger business loans that exceeds $250,000 it’s possible to offer a preliminary pre-approval to help smooth out the process. It is possible to apply for this without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health questions. This is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you might receive could be based on different terms.
You may apply for an company loan if you;
The process for applying is fast and easy. Just complete the online application in few minutes and a dedicated business credit specialist will call you to assist you.
For a loan of up to $100,000 you’ll need identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent, 12 months of bank records, IRD statements, last 2 years finalised financial statements, and interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we typically provide a response in one hour if you apply at quality business hours and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statement, we’ll provide a decision within an company day.
For the Larger Business Loan ($100K to $500K) we may be in a position to offer you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Some transactions have received approval within the space of 24 hours.
The most efficient method for you to apply is make sure you apply during normal company hours. You can also allow us to use the modern bank verification link to instantly verify your bank information online. If you decide to upload duplicates of your banking statement, it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour, provided you apply during normal business times and permit us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statements, we will be able to offer a decision in as little as 1 business day.
For the Larger Business Loans ($100K up to $500,000) We may be able to offer you with conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is 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 in 24 hours.
The fastest method can be ensure you apply during standard business hours and let us use the advance bank verification to verify your bank information online. If you opt to send us duplicates of your banking statements, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a specific amount we consider a variety of variables for determining the well-being of your company as well as the amount of the repayments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances of your company.
When you apply for a specific amount we take into consideration a variety of variables to determine your well-being of the company and the amount of the repayments your business can afford. The amount you receive from your loan will be determined by the specifics the business.
When you request our business financing, we will assess the risk profile that you have for your company and provide an individualised offer, including loan amount, term and the interest rates. It is a business loan is an upfront cost loan therefore you will be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for company loans rates depend on several factors such as the amount that is that is borrowed, what company assets the money are used to purchase, the industry the business operates in, how long the company has been running for, in the event that the company has enough cash flow to cover the loan, and also the general well-being or financial standing of the company.
There are no hidden costs with our business loans, and you’ll know precisely what it is that you need to pay and when, right from the first day. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments on 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 is the cost associated with setting up and managing the loan. The only way to pay this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the entire amount of the loan early at any time.
If you decide to take this route, please contact our helpful company lending specialists. They’ll offer you with repayment details and an early payment figure. This is calculated as the total of the principal balance plus any accrued interest as of the time of early payout plus 1.5% of the principal balance as well as any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your designated company account.
The security of your personal information, as well as knowing the ways we gather, use, exchange and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to security for our clients and security. We make use of an advanced bank verification system that allows you to immediately confirm your bank account information online so we can offer rapid response.
The term "asset-based" refers to borrowing where the company owner makes use of assets they own to get a loan. The asset can be either an individual property, such as the family home or it could be a company property like a truck or piece or equipment.
The majority of lending institutions, even the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan, your assets could be sold by the lender. In essence it is an opportunity to secure new financing by using the value of what you already own.
For loans up to $150,000 no asset security is required in advance to gain access to the funds However, we do require an individual guarantee. In the event that you fulfill your loan obligations (as stipulated in your loan contract) the security of assets will never be needed. For loans over $150K generally, you can get an individual ensure and security in the form the charge of assets.
