The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Do you require more money? Take a look at the conditions of eligibility for our $100K-$500K company loans.
All that’s needed to begin is your contact information (the name of your company, your name, email or phone number) and the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we will require confirmation of who you are, but not for starting:
In addition, once we have started with loans over $150,000 you’ll require basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
Apply to this Small Business Loan in under 10 minutes on the internet or by phone. You will receive an instant response and the money could be in your account within 24 hours. Traditional business loans have an annual interest rate together with additional fees and charges. Our business loan is a pre-paid loan therefore you’ll know in advance 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.
The Small Business Loan can be used for virtually any company purpose including the management of cash flow, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size, your business needs to be trading for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for nearly every company need, including business remodeling, buying 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 required for accessing funds over $150,000. It is usually in the form of a charge against assets, and could be registered in the PPSR or making a caveat.
A director’s or personal ensure is a guarantee to repay credit that is general in nature rather than defining the security for a particular asset. The person signing the ensure is personally accountable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date a registration of a security interest.
The caveat can be described as a formal form of document to offer the public notice of a legal claim on a property.
If you’re requesting a Larger Business Loan that exceeds $250,000 we can offer an initial pre-approval to simplify the process. We might be able to get this done without a credit check and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves you answering a few financial well-being questions. It is not an offer of credit or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you may receive may have different terms.
You can apply for a business loan if you;
The application process is quick and simple. Complete the online form within a few minutes and a dedicated company lending specialist will call you to help you.
For a loan of up to $100,000, you’ll need ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent and 12 months bank statement, an IRD statement, last 2 years finalised financial statements, in addition to interim current financial year financials including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer in just one hour – as long as you apply during quality business time and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements , we’ll be able to provide a decision within one business day.
For the Larger Business Loan ($100K and up) we may be likely to provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take 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 way to apply for you to apply is make sure you apply during standard business hours. You can also let us use the modern bank verification link to confirm your bank details online. If you upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within one hour, provided you make your application during normal business time and permit us to 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 statement, we’ll provide the decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K and up) We may be able to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain transactions have received approval in less than 24 hours.
The quickest method would be to ensure you apply during normal business hours, and let us use the advance bank verification link to check your bank’s information online. If you upload documents from your account accounts, it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount we consider a variety of factors in order to assess what is the well-being of your business and the level of repayments that your company will be able to support. The amount you receive from the loan will be determined by the specifics for your company.
When you submit an application for a specific amount we take into consideration a variety of aspects to determine how much we can lend you such as well-being for your company and the extent of the repayments your business will be able to support. The total amount of the loan will be determined by the particulars the company.
When you make an application for our business financing, we will assess the risk assessment that you have for your business and provide you with a customised offer, including loan amount, term and interest rates. A company loan is an upfront priced loan therefore you will know the exact amount to be paid, including any costs, fees, or interest rates.
Interest rates for company loans rates differ based on various factors like the amount of money that is borrowed, what business assets the money are used to purchase in addition to the industry that the company is in, how long the company is in operation, in the event that the business has sufficient cash flow to cover the loan, and general health or financial standing of the company.
There aren’t any hidden charges with our business loans. You’ll know precisely what you’ll be required to pay and when, from the day you sign up. There’s no compounding interest and no extra fees (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to get a cash loan with no cost upfront or any obligation to sign up.
The Origination Fee is the cost associated with establishing and managing the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can choose to repay all of your loan in full at any time.
If you do decide to do this please speak to our friendly business loans experts. The experts will provide you with repayment details along with an early payout estimate. This will be calculated as the sum of the principal amount remaining and any accrued interest at the date of early payout and 1.5% of the remaining principal plus any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your nominated business account.
Security of your data, and being clear about the ways we gather data, process, exchange and ensure the security of your information is of paramount importance and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We use an advanced banking verification system to immediately verify the bank account details online to provide an immediate response.
Asset-based borrowing is when an company owner makes use of the assets they have to make the funding. The asset can be either a personal asset like the family home or a company asset like a truck as well as a piece of machine.
The vast majority of the lenders not just the banks with the biggest size, prefer to guarantee loans against assets. If you’re having trouble paying back the loan, the asset could be offered for sale by the lender. In essence it’s the process of securing new financing taking advantage of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money but we require a personal guarantee. require a personal guarantee. So long as you comply with your loan commitments (as detailed in your loan contract), asset security is not needed. For loans of over $150K generally, there is an individual ensure and security in the form of a charge over assets.
