The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company financing.
All that is needed for starting is your contact details (company name, your name, email address or phone number) as well as the amount you want to borrow, and your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not for starting:
After we start in the process, for loans of more than $150,000 you’ll need basic 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, cash flow-friendly repayments, which are either daily or weekly.
The application for your Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive a same day response and have the funds on your account within 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. Our company loan is a pre-paid loan and you’ll know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into a daily or weekly installment amount.
It is a Small Business Loan can be used for virtually any company reason, such as managing cash flows, company renovations, marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly, depending on your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
To be eligible for a loan of this size the company needs to be operating for at least three years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Larger Business Loan can be used to fund almost any company purpose including company renovations, to purchase equipment or inventory, as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This is in the form of a charge over assets, and may include the registration of this on the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is generally based rather than stating security over an asset. The person who signs the guarantee is personally liable in the event that the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR gives priority over personal property to be granted depending on the date that a registration of a security interest.
The caveat can be described as a formal document lodged to provide notice of a legal claim on a property.
If you’re seeking an enterprise loan of $250K or more it’s possible to offer an initial pre-approval that will help simplify the process. We could be able to make this decision without a credit verification and within six hours of your initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial health checks. It is not an offer of credit or guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer that you are offered could have different conditions.
You can apply for a business loan if you
The application process is fast and simple. Just complete the online application in few minutes and an experienced company lending specialist will call you to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent as well as 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K and up) we usually offer an answer in just one hour – as long as you submit your request at standard company timings and you allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your banking statements we can offer an answer in just 1 company day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however it could be faster based on the specifics of each application. Some transactions have received approval within 24 hours.
The quickest method can be ensure you apply during normal business hours. You can also allow us to use the advance bank verification to instantly verify your bank information online. If you choose to send us copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide an answer within one hour, provided you make your application in standard business times and let us make use of the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your banking statements, we will be able to offer a decision in as little as the span of one business day.
For the Larger Business Loans ($100K to $500K) we might be likely to offer the conditional pre-approval in about 6 hours. Once you have signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval, however this can be faster depending upon the circumstances for each application. Certain transactions have received approval within 24 hours.
The fastest method is to ensure you apply during normal business hours. You can also allow us to use the sophisticated bank verification to instantly confirm your bank details online. If you upload duplicates of your banking statement, it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of variables to determine how much we can lend you well-being of your company and the level of payments your company can afford. The total amount of your loan will depend on the particular circumstances of your company.
When you make an application for a particular amount, we consider a variety of elements to determine the well-being for your business as well as the amount of payments your business can support. The amount you receive from your loan will depend on the particulars for your company.
If you decide to request one of our business loan, we’ll assess the risk profile of your company and offer you with a customised offer including the amount of loan, the term and interest rates. This business loan is a loan that is priced upfront which means you be aware of the total amount to be paid, including any charges or interest.
Interest rates for business loans rates depend on a variety of factors such as the amount that is borrowed, what company assets the money will be used for in addition to the industry that the business is in, how long the business has been running, what percentage of the company has enough cash flow to support the loan, as well as the general well-being or financial standing of the business.
There aren’t any hidden charges for our company loans, and you’ll be aware of the amount you need to pay and when, from day one. There’s no compounding interest, and no extra fees (as long as you are able to make your payments punctually).
We do not charge an application fee. You can apply for a loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the total amount of your advance loan at any time.
If you decide to take this route, please talk to one of our helpful company credit professionals. We will offer you with the details of your repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and any accrued interest at the time of the early payout, plus 1.5 percent of the principal balance and any fees that remain unpaid.
To make sure that you don’t miss payments and to work with your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your nominated company account.
The security of your personal information, as well as making it clear how we collect data, process, exchange and safeguard your data, is vital and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and privacy. We utilise a sophisticated bank verification system that allows you to immediately confirm your bank account information online to provide a fast response.
Asset-based borrowing is when a business owner utilises the assets they have to secure the funds for a loan. The asset may be a personal asset like the family home, or a company asset such as a vehicle or piece or equipment.
The majority of the lenders even the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan, then your asset may be taken over by the lender. In essence, it is a way of securing new financing by making use of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security prior to the loan’s access, however we require a personal guarantee. require a personal guarantee. So long as you comply with your loan commitments (as specified in your loan contract) Asset security will never be needed. If you take out loans in excess of $150K typically, you will need personal guarantee and security that is in the form the charge of assets.
