The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Take a look at the eligibility requirements for our $100K-$500K company loan.
All you need to get started is your contact details (the name of your company, your name, email address and phone), how much you’d like to lend, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not for starting:
After we start with loans over $150,000 you’ll require the following financial statements:
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
The application to get your Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and have the funds in your account in 24 hours. Traditional company loans are based on an interest rate per annum as well as other fees and charges. We offer a business loan is a pre-paid loan which means you know ahead of time the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually every business need, such as cash flow management, business remodels and marketing to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are weekly or fortnightly depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount the company needs to be operating for a minimum of 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost all business need, including business improvements, purchasing new equipment or inventory, as general working capital, and much more. The loan is not available for personal use.
Asset security is necessary to access funding over $150,000. This can be done in the form of a charge over assets, and could be registered through the PPSR or registering as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than specifying security over a particular asset. The person signing the ensure 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 lists security interests that are that are registered for personal property (including the assets or goods). The PPSR grants priority over personal property to be assigned according to the date a security interest has been registered.
The caveat can be described as a formal document that is filed to offer an official notice of a claim on a property.
When you’re applying for larger company loans that is greater than $250,000, we may offer an initial pre-approval that will help simplify the process. We may be able to make this decision without a credit verification and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes you answering a few financial well-being checks. It is in no way an offer, nor is it a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer you receive could have different conditions.
You can apply for a company loan if you:
The process for applying is fast and simple. Just fill out the online application within a few minutes and a dedicated company expert in lending will be in touch to help you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank records, IRD statements and the last two years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) we typically provide an answer within an hour if you submit your request within standard company time and allow us to use the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your banking statements , we are able to offer the decision in as little as 1 company day.
For the Larger Business Loan ($100K to $500K) we might be capable of provide you with a conditional pre-approval within about 6 hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Some offers have been approved within 24 hours.
The fastest way would be to ensure you apply during normal company hours. Also, allow us to use the modern bank verification to verify your bank account information online. If you send us copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within an hour – as long as you submit your request in normal business timings and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements we can offer the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be able to provide you with conditional pre-approval in about six hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Certain deals have been approved in just 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours, and allow us to use our advance bank verification to verify your bank information online. If you decide to send us duplicates of your banking accounts, it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a certain amount, we look at a variety of aspects that determine what is the health of your company as well as the amount of payments your company will be able to support. The amount you receive from your loan will depend on the particular circumstances of your company.
When you make an application for a set amount, we take into consideration a variety of factors to determine how much we can lend you such as well-being that is your company and the level of repayments that your business can afford. The amount you receive from your loan will be contingent on the particular circumstances of your business.
When you make an application for the company loans, we will assess the risk assessment for your company and offer an individualised offer including loan amount, term and interest rates. The company loan is a loan that is priced upfront and you’ll know the exact amount payable including any charges or interest.
Interest rates for company loans rates depend on several variables like the amount to be borrowed, the company assets the money are used to purchase and the sector the business operates in, the long the company has been operating for, what percentage of the company has sufficient cash flow to support the loan, as well as the overall health as well as creditworthiness business.
There are no hidden costs for our business loans, and you’ll know precisely what you’ll be required to pay, and when, right from the very first day. There’s not any compounding interest and the loan comes with no additional fees (as long as you are able to make your payments on time).
We don’t charge an application fee. You are able to apply for a loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the total amount of your advance loan at any time.
If you choose to pursue this option, please call our helpful business loan specialists. They’ll offer you with the details of your repayment as well as an early payout amount. It will be calculated using the sum of the principal balance and the accrued interest up to the date of early payout and 1.5% of the principal balance and any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow routine, we provide repayments either weekly or daily. They will be automatically deducted from your nominated business account.
Making sure that your information is secure, and being transparent about how we collect, use, exchange and secure your information, is crucial and is a crucial part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We use an advanced banking verification system to instantly verify the bank account details online. This allows us to provide a fast response.
Asset-based borrowing occurs when a business owner borrows from an asset they own to obtain the loan. The asset can be either an individual asset, such as the family home, or it could be a business property like a truck or piece or equipment.
The majority of lenders, even the major banks, prefer to secure loans against assets. If you’re struggling to pay back the loan, then the asset might be offered for sale by the lender. In essence, it’s means of securing additional financing taking advantage of the value of what you already have.
For loans up to $150K it is not necessary to secure assets upfront to access the money but we do need an individual guarantee. If you adhere to the loan terms (as stated in your loan contract) Asset security is not needed. For loans that exceed $150,000, typically, you will need an individual ensure and security is provided in the form of charges on assets.
