The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K company loans.
All that is needed to get started is your contact details (the name of your company, your name, email address and phone) and the amount you’d like to lend, as well as your monthly income.
In the course of the process and before settlement we will require confirmation of who you are, but not for starting:
Once we’ve started with loans of more than $150,000 you’ll require the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the funds could be on your account within 24 hours. Traditional company loans have an interest rate per annum along with other charges and fees. This business loan is an upfront priced loan therefore you’ll be aware of the total amount due, which includes any interest, fees or charges. This is then broken down into weekly or daily repayment figure.
It is a Small Business Loan can be used for nearly any business reason, such as control of cash flow business renovations, marketing to purchase inventory or new equipment, or as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
A Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To be eligible for a loan of this size, your business needs to be operating for a minimum of 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A larger company loan can be used for nearly any company need, including business remodeling, buying new equipment or inventory for general working capital and much more. The loan cannot be used for personal use.
Asset security is needed to access funding over $150,000. It is usually by way of charge on assets, which could also include registration with the PPSR or registering as a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is general in nature, rather than defining security over a particular asset. The person signing the ensure is personally liable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including the assets or goods). The PPSR gives priority over personal property to be assigned depending on the date that a security interest was registered.
The caveat can be described as a formal document filed to provide an official notice of a claim to a property.
When you’re applying for larger business loans that exceeds $250K we may be able to provide an initial pre-approval that will help ease the process. It is possible to do this without a credit check, and within six hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial well-being checks. It is in no way an offer, nor is it a guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you are offered could be based on different terms.
You may apply for an company loan if you
The application process is fast and simple. Complete the online form in just a few minutes, and an experienced company loan specialist will call you to help you.
To apply for up $100,000, you’ll require identification details (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit approval, 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, 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) we usually offer a response in one hour if you make your application at standard company hours and you allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statements , we will be able to offer the decision in just 1 company day.
For the Larger Business Loan ($100K or more) we may be in a position to provide you with a conditional pre-approval within about six hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter 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 ensure you apply during normal company hours, and let us use the advanced bank verification system link to check your bank’s information online. If you opt to upload documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within an hour if you submit your request during standard business time and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you want to upload copies of your bank statement, we’ll provide an answer within 1 business day.
If you are applying for Larger Business Loans ($100K and up) we could be able to offer the conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and let us use the advance bank verification link to instantly verify your bank information online. If you send us the copies of bank statement, it will take a little longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount we look at a variety of variables in order to assess what is the well-being for your company and the amount of payments your business can afford. The amount you receive from your loan will depend on the specifics that are unique to your business.
When you make an application for a particular amount, we look at a range of factors to assess the health that is your business and the amount of the repayments your business is able to afford. The amount you receive from your loan will be determined by the particulars of your business.
When you apply for business loans with us business credit, we’ll assess the risk assessment the business and offer an individualised offer including the loan amount, the terms and the interest rates. A business loan is an upfront priced loan so you will know the exact amount payable including any charges, interest rates or fees.
Business loan interest rates vary due to factors such as the amount that is borrowed, the company assets the money will be used for, the industry the company operates in, the long the company is in operation and whether the company has enough cash flow to pay for the loan, as well as the general well-being as well as creditworthiness business.
There aren’t any hidden costs with our business loans, and you’ll know precisely what you’ll need to pay, and at what time, from the first day. There’s no compounding interest, and no extra fees (as as long as you pay your payments in time).
We do not charge an application fee. You are able to apply for a loan with with no upfront cost or commitment to apply.
The Origination Fee covers the expenses involved with setting up 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 amount of loan.
You can repay the total amount of your advance loan at any time.
If you are deciding to take this route, please contact our helpful business lending professionals. The professionals will offer you with the details of your repayment and an early payout figure. This will be calculated as the sum of the principal remaining and any accrued interest at the date of early payout in addition to 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from your company account.
Security of your data, and making it clear how we collect the information we collect, use, share and safeguard your data, is of paramount importance and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We utilise a sophisticated bank verification system link to instantly verify your bank account information online. This allows us to provide quick responses.
The term "asset-based" refers to borrowing where a company owner borrows from an asset they own to make the funds for a loan. The asset could be an individual asset, such as the family home or it could be a business asset such as a truck or piece of equipment.
The vast majority of banks, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence, it is means of securing new financing by using the value of what you already have.
For loans up to $150,000 no asset security is required before you can access the money However, we require a personal guarantee. require the personal guarantee. So long as you comply with your loan obligations (as specified in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150,000 generally there is personal guarantee and security is provided in the form of charges on assets.
