The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Need more funds? Review the eligibility requirements for our $100K to $500K company loans.
All that’s needed to get started is your contact information (the name of your company, your name, email address, phone) and the amount you want to borrow, and your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
Additionally after we get started in the process, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and the funds could be in your account in 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. We offer a company loan is a pre-paid loan so you will be aware in advance of the total amount to be paid, including any interest, fees or charges. This is then divided into a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost any company reason, such as managing cash flows, business renovations, marketing to purchase inventory or new equipment, as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a loan in this amount the business needs to have been in operation for at least 3 years, and have an annual income of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan is a great option for almost any company need, including business remodeling, buying inventory or new equipment as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge on assets, and could include registration with the PPSR or registering a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature rather than defining security over an asset. The person signing the ensure is personally liable if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR permits preference over private property granted in accordance with the date on which a security interest has been registered.
An affidavit is an official document that is filed to offer notice of a legal claim on a property.
If you’re requesting an enterprise loan of $250,000 or more, we may offer an initial pre-approval that will help smooth out the process. We might be able to apply for this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial assessment, which involves answering a couple of financial health 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 are offered could have different conditions.
You may be eligible for a business loan if you;
The application process is quick and easy. Simply complete the online form within a few minutes and a dedicated company credit specialist will call you to guide you.
For a loan of up to $100,000, you’ll need the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K – $250K: Information about the 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 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) We can usually offer an answer within one hour if you make your application during quality company time and allow us to utilise the bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements we can offer a decision within just an business day.
For the Larger Business Loan ($100K to $500K) we may be in a position to offer you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Some offers have been approved in 24 hours.
The quickest way to apply can be ensure you apply during normal business hours and allow us to use our advance bank verification link to confirm your bank details online. If you decide to upload documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) we typically provide a response in one hour – provided you make your application at normal business timings and you allow us to use the bank verification system link to instantly verify your bank information online. If you decide to send us copies of your bank statements we can provide a decision within one business day.
If you are applying for Larger Business Loans ($100K or more) We may be in a position to offer you with conditional pre-approval in about six hours. Once you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this can be faster depending on the specifics of each application. Some transactions have received approval within the space of 24 hours.
The quickest method would be to ensure you apply during normal business hours, and permit us to use the sophisticated bank verification link to instantly verify your bank information online. If you opt to upload documents from your account accounts, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of factors for determining the well-being for your business and the extent of the repayments your business can support. The total amount of your loan will be contingent on the specifics of your business.
If you apply for a specific amount we will consider a number of factors to determine how much we can lend you such as health for your company and the amount of payments your company can afford. The amount you receive from the loan will be determined by the particular circumstances the business.
If you decide to make an application for our business financing, we’ll assess the risk profile the business and offer you with a customised offer including the loan amount, the terms and the interest rates. The business loan is an upfront cost loan therefore you will know the exact amount to be paid, including any charges or interest.
The interest rates on business loans rates depend on several variables like the amount to be borrowed, the business assets the money will be used for and the sector the company is in, how long the company has been in operation and what percentage of the business has sufficient cash flow to pay for the loan, and the general health or financial standing of the business.
There aren’t any hidden costs for our business loans. You’ll be aware of the amount it is that you be required to pay and when, starting from the first day. There’s no compounding interest and the loan comes with no additional fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with without any upfront costs or any obligation to sign up.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You can repay the total amount of your advance loan at any time.
If you decide to do this please talk to one of our helpful business credit specialists. We will provide you with details on repayment and an early payment figure. This is calculated as the total of the principal remaining and any accrued interest at the time of the early payout plus 1.5 percent of the remaining principal and any fees that remain unpaid.
To help you avoid missing payments and to work your cash flow schedule, we offer repayments either weekly or daily. These are automatically withdrawn from your company account.
Making sure that your information is secure, and making it clear the ways we gather data, process, exchange and ensure the security of your information is crucial and an integral aspect of our relationship with you.
Yes. We employ 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 clients as well as their privacy. We use an advanced banking verification system to immediately verify your bank account details online, allowing us to provide quick responses.
The term "asset-based" refers to borrowing where the business owner utilises an asset that they own to secure the loan. The asset can be an individual asset, such as the family home or a company asset like a truck or piece or equipment.
The majority of the lenders not just the major banks, prefer to guarantee loans against an asset. If you have trouble paying back the loan, then the asset might be taken over by the lender. In essence, it is means of securing additional financing making use of the value of what you already own.
For loans that exceed $150K, no asset security is required upfront to access the money but we do require the personal guarantee. In the event that you fulfill the terms of your loan (as stated in the loan contract) the security of assets is not needed. For loans over $150K generally, you are able to get personal guarantee and security is provided in the form of charges on assets.
