The criteria for eligibility for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Need more funds? Find out the conditions of eligibility for our $100K-$500K business loans.
All that is needed to get started is your contact information (company name, your name, email, phone), how much you’d like to borrow, and your monthly earnings.
During the process and before settlement we will require confirmation of who you are but not to get started:
After we start in the process, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
Apply to your Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and the funds could be in your account within 24 hours. Traditional company loans are based on an annual interest rate as well as other fees and charges. This business loan is a pre-paid loan and you’ll know ahead of time the total amount payable including the interest, fees and charges. This is then broken down into either weekly or daily amount to be paid back.
The Small Business Loan can be used for almost every business use, including control of cash flow company remodels and marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size, your business needs to be trading 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) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A large business loan is a great option for almost all company purpose including company renovations, purchase of inventory or new equipment 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. This can be done as a result of an charge over assets, and may include registration with the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is general in nature, rather than stating the security for a particular asset. The person who is signing the ensure is personally responsible if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date the registration of a security interest.
An affidavit is an official document filed to offer the legal claim on a property.
If you’re applying for an enterprise loan that exceeds $250K we may be able to provide an initial pre-approval to ease the process. We may be able to get this done without a credit check, and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes you answering a few financial health checks. It is in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to an assessment of your creditworthiness and any offer you are offered could be on different conditions.
You can apply for an business loan if you;
The process for applying is fast and simple. Just complete the online application within a few minutes and an experienced company credit specialist will call you to help you.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s License) as well as a valid NZBN/IRD as well as at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K to $100K) we can often offer a response in one hour, provided you make your application in standard company timings and permit us to use the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statement, we’ll provide an answer within the span of one company day.
For the Larger Business Loan ($100K or more) we may be in a position to provide you with a conditional pre-approval in about 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Certain deals have been approved in the space of 24 hours.
The quickest method for you to apply is make sure you apply during normal company hours and allow us to use our modern bank verification to check your bank’s information online. If you choose to upload documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer in just one hour – provided you submit your request in normal business hours and permit us to use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements we can offer the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we might be in a position to offer the conditional pre-approval within about six hours. Once you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Certain agreements have been approved within 24 hours.
The quickest method is to ensure you apply during standard business hours. Also, let us use the advanced bank verification system to verify your bank account information online. If you send us duplicates of your banking statements it will take a little longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we will consider a number of aspects to determine your health for your company and the extent of repayments that your business will be able to support. The total amount of the loan will be determined by the particular circumstances for your company.
When you make an application for a specific amount we take into consideration a variety of elements to determine how much we can lend you such as health for your company and the extent of repayments that your company is able to afford. The total amount of your loan will depend on the particular circumstances for your company.
If you decide to apply for one of our business financing, we will assess the risk profile the company and provide you with a tailored offer including the amount of loan, the term and the interest rates. It is a company loan is an upfront cost loan so you will know the exact amount to be paid, including any charges, interest rates or fees.
Interest rates for company loans rates differ based on various factors such as the amount that is borrowed, what company assets the money will be used for in addition to the industry that the company operates in, the long the company has been running as well as how long the company has sufficient cash flow to support the loan, as well as the overall well-being or creditworthiness of the company.
There are no hidden costs for our company loans. You’ll know precisely what you’ll be required to pay and at what time, from the first day. There’s no 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 request a credit loan no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back the entire amount of the loan at any point in time.
If you do decide to take this route, please call our helpful business loans experts. The experts will provide you with the details of your repayment and an early payout figure. This is calculated as the total of the principal remaining plus any accrued interest as of the date of early payout, plus 1.5% of the principal amount remaining as well as any outstanding fees.
To help you avoid missing payments and to work with your cash flow routine, we provide repayments either daily or weekly. 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 ensure the security of your information is of huge importance and a vital part of our relationship you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system link to immediately verify the bank account details online so we can provide a fast response.
An asset-based loan is when an company owner utilises assets they own to get the funds for a loan. The asset can be either an asset belonging to the personal, like the family home or it could be a company asset such as a truck or piece of equipment.
The majority of lenders, not just the major banks, prefer to make loans secured by assets. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence, it’s an opportunity to secure new funding taking advantage of the value of what you already have.
For loans that exceed $150,000, there is no requirement for asset security before you can access the money however, we require a personal guarantee. need the personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract document), asset security will never be needed. For loans of over $150,000 generally, you can get an individual guarantee and security in the form of a charge over assets.
