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Sydney Small Business Loans
Providing Specialist Business Finance

Services in McMahons Point

  • McMahons Point Unsecured Business Loans
  • McMahons Point Business Finance
  • McMahons Point Business Lending
  • McMahons Point Business Loan
  • Small Business Finance McMahons Point
  • Business Funding McMahons Point
  • McMahons Point Working Capital
  • McMahons Point Small Business Lending
  • McMahons Point Short Term Business Loans

Business Finance McMahons Point Sydney 2060 NSW

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.

  • The minimum period of 6 months for which you must be in business
  • At least $6,000 in income per month
  • You must be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or
  • Driver’s License to serve as identification proof
  • Make sure you have a New Zealand bank as your main trading account
  • Bank statements from the past six months

Are you looking for additional funding? Find out the eligibility requirements for our $100K to $500K business credit.

Quick application checklist

What do you need to apply

All that is needed for starting is your contact information (company name, your name, email or phone number) as well as the amount you’d like to lend, and your monthly revenue.

While in the process and before settlement we’ll require confirmation of who you are, but not to get started:

  • Idenfication information (valid Driver’s Licence)
  • Information about the business, including details on trading hours, ownership details and the NZBN (New Zealand Business Number)

Once we’ve started when it comes to loans over $150,000 you’ll also require basic financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

About The Sydney Small Business Loans

Let me know about the Sydney Small Business Loans

Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.

What is what makes the Unsecured Loan different from an ordinary business loan?

You can apply to get this Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and the funds could be in your account within 24 hours. Traditional business loans reference an annual interest rate as well as other fees and charges. The company loan is a cash-based 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 payment amount.

What could be the Small Business Loan be used for?

A Small Business Loan can be used for nearly any business reason, such as control of cash flow company remodels and marketing to purchase inventory, new equipment, or as general working capital, and much more. The loan cannot be used for personal use.

Concerning Larger Sydney Business Loans

What is the Larger Sydney Business Loan?

The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. The repayments are made weekly or fortnightly, depending on your situation.

How is the Origination Fee calculated?

A Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.

Am I eligible for the Larger Business Loan?

To be eligible for a loan of this size, your business needs to have been operating for a minimum of 3 years with an annual turnover of at least $700K. 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 demonstrate at minimum 12 months of business.

How can the funds be utilised?

A Larger Business Loan can be used to fund almost every company need, including business renovations, to purchase equipment or inventory as well as for general working capital, and much more. The loan is not available to fund personal expenses.

Is the Larger Business Loan a secured loan?

Asset security is required for funding of more than $150,000. This can be done as a result of an charge over assets and can include registering this on the PPSR or making as a caveat.

A personal or director’s ensure is a guarantee to pay back a loan that is generally based rather than stipulating the security of a specific asset. The person who is signing the ensure is personally responsible if the company lender is not able to pay back the debt.

The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be assigned according to the date a security interest has been registered.

A caveat is a legal document that is filed to provide the legal claim against a property.

What is a pre-approval minus Credit Check?

When you’re applying for larger business loans that exceeds $250K, we may offer an initial pre-approval to smooth out the process. It is possible to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering some financial well-being questions. It’s neither an offer nor a guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer that you might receive could have different conditions.

Application process

Do I have the right to receive funds?

You can apply for an business loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are at least 18 years old, have a New Zealand business (with a valid NZBN/IRD)
  • you must prove at least 6 months worth of trade (for for the unsecured loan $5K – $100K) or three years of trading (for the Larger Business Loan $100K up to $500K)

How do I apply?

The application process is fast and simple. Simply complete the online form within a few minutes and a dedicated company credit specialist will call you to help you.

For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months worth of bank statements.

If you’re looking for loans with larger sizes, you’ll require:

$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statement, last 2 years finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables summaries.

What speed will I be able to get an answer?

For an unsecured loan ($5K to $100K) we typically provide an answer within one hour – as long as you make your application within standard business timings and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements , we will be able to offer a decision in just one company day.

For the Larger Business Loan ($100K or more) we could be in a position to offer you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some offers have been approved within just 24 hours.

The quickest method for you to apply is make sure you apply during standard company hours. You can also allow us to use the advanced bank verification system link to confirm your bank details online. If you choose to send us the copies of bank statement, it can take a bit longer.

How soon will I receive the money?

For the Small Business Loan ($5K up to $100,000) we typically offer an answer in just one hour – as long as you submit your request during standard business timings and let us use the bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statement, we’ll provide a decision in just the span of one business day.

For Larger Business Loans ($100K or more) we may be in a position to provide you with conditional pre-approval within six hours. Once you have signed the pre-approval document, you will require to wait around 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some transactions have received approval in just 24 hours.

The fastest way is to ensure you apply during normal business hours. Also, allow us to use the modern bank verification to instantly verify your bank account information online. If you decide to upload the copies of bank statements it can take a bit longer.

What’s the minimum amount I can borrow?

We offer loans that range from $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 that is your company and the amount of repayments your company can support. The total amount of your loan will depend on the specific circumstances that are unique to your business.

When you make an application for a specific amount we consider a variety of aspects to determine how much we can lend you such as well-being that is your company as well as the amount of payments your business will be able to support. The total amount of your loan will be determined by the particulars that are unique to your company.

Fees & repayments

How do you charge for the cost of a business loan?

If you decide to request the business loans, we will assess the risk profile the company and offer an individualised offer, including the amount of the loan, the duration and interest rates. A company loan is a loan that is priced upfront which means you be aware of the total amount you will have to pay, including interest rates, fees or charges.

What determines the amount I pay?

Business loan interest rates depend on a variety of factors like the amount of money that is borrowed, what business assets the funds will be used for in addition to the industry that the business is operating in, how long the business has been operating, whether the company has sufficient cash flow to fund the loan, and overall health or creditworthiness of the company.

What are the costs?

There aren’t any hidden costs for our business loans. You’ll be aware of the amount you’ll be required to pay, and when, right from the day you sign up. There’s no compounding interest, and no additional fees (as as you make your payments on time).

We don’t charge an Application Fee. You are able to make an application for loans without any upfront costs or obligation to proceed.

The Origination Fee covers the expenses involved in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of the loan.

Can I pay out the loan early?

You can repay all of your loan at any point in time.

If you are deciding to pursue this option, please call our helpful business credit professionals. The specialists will offer you with repayment details and an early payout figure. This will be calculated as the sum of the principal balance and the accrued interest up to the time of the early payout plus 1.5% of the principal balance plus any outstanding fees.

What are the repayment methods?

In order to help you avoid missing payments and to work with your cash flow general, we offer repayments either daily or weekly. They will be automatically deducted from the nominated business account.

Security & privacy

Will my data be protected?

Making sure that your information is secure, and knowing the ways we gather the information we collect, use, share and protect your information, is vital and is a crucial part of our relationship you.

Is it safe to link my bank account to the platform?

Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We utilise a sophisticated bank verification system to instantly verify your bank account details online. This allows us to offer rapid response.

About business loans

How do you define asset-based lending (a secured loan)?

Asset-based borrowing is when the company owner uses the assets they have to secure the funds for a loan. The asset could be an individual asset, such as the family home, or it could be a company asset like a truck or piece or equipment.

The vast majority of lending institutions, not just the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan then the asset might be taken over by the lender. In essence it’s the process of securing new funding using the value of what you already own.

Should I need security for an company loan?

For loans of up to $150K, it is not necessary to secure assets in advance to gain access to the funds, however we require a personal guarantee. require the personal guarantee. In the event that you fulfill the terms of your loan (as specified in the loan contract), asset security will never be needed. For loans over $150,000 generally there is a personal guarantee and security is provided in the form of charges on assets.

Sydney Small Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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Contact Us

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1300 560 988