The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Take a look at the eligibility requirements for our $100K-$500K company loan.
All that’s needed to get started is your contact details (the name of your company and your name, as well as email or phone number) and the amount you’d like to borrow, and your monthly income.
During the process and before settlement we will require confirmation of your identity, however, not in order to begin:
After we start in the process, for loans over $150,000 you will also require the following 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 to get the Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and the funds could be in your account in 24 hours. Traditional business loans have an interest rate per annum plus other fees and charges. The company loan is an upfront priced loan so you will know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is broken down into either weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly any company purpose including the management of cash flow, business renovations, marketing to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to have been in operation for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Larger Business Loan can be used for nearly every company use, including business renovations, purchase of equipment or inventory, as 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 by taking 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 commitment to pay back a loan that is general in nature rather than specifying security over a particular asset. The person who is signing the guarantee is personally liable in the event that the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR permits priority over personal property to be granted in accordance with the date on which a registration of a security interest.
The caveat can be described as a formal document that is filed to provide the public notice of a legal claim on a property.
If you’re applying for the Larger Business Loan that is greater than $250K it is possible to offer an initial pre-approval in order to smooth out the process. It is possible to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves you answering a few financial health checks. This is in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer you may receive may be subject to different conditions.
You may be eligible for a company loan if you;
The application process is simple and easy. Simply complete the online form in few minutes and a dedicated business loan 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), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent, 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, and interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) we usually offer a response in one hour, provided you submit your request in quality business time and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statements , we’ll be able to offer an answer in as little as 1 business day.
For the Larger Business Loan ($100K up to $500,000) we may be able to provide you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive 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 for you to apply is make sure you apply during normal company hours. Also, allow us to use our advance bank verification link to instantly verify your bank information online. If you opt to upload documents from your account statements it takes a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer in just one hour – as long as you make your application during standard business hours and let us use the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements we can provide an answer within one business day.
If you are applying for Larger Business Loans ($100K and up) we might be able to offer you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some deals have been approved in 24 hours.
The most effective method is to make sure you apply during normal business hours, and allow us to use the advance bank verification link to instantly confirm your bank details online. If you choose to send us documents from your account statement, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a particular amount, we take into consideration a range of aspects in order to assess your well-being that is your company as well as the amount of repayments your company can afford. The amount you receive from your loan will depend on the specific circumstances the business.
When you make an application for a specific amount we take into consideration a variety of aspects to assess the health of your company as well as the amount of the repayments your business can afford. The amount you receive from the loan will be determined by the particulars for your business.
When you apply for our company financing, we’ll assess the risk profile of your business and provide you with a customised offer including the amount of loan, the term and the interest rates. This company loan is an upfront cost loan therefore you will know the exact amount you will have to pay, including costs, fees, or interest rates.
The interest rates on company loans rates vary due to factors such as the amount that is of money borrowed, the company assets the money will be used for in addition to the industry that the company is operating in, how long the company has been operating, whether the company has enough cash flow to pay for the loan, as well as the overall health or creditworthiness of the company.
There aren’t any hidden costs for our company loans. You’ll know exactly how much you’ll be required to pay, and when, right from the first day. There’s not any compounding interest and the loan comes with no additional fees (as long as you make your payments in time).
We don’t charge an Application Fee. You can make an application for loans with with no upfront cost or obligation to proceed.
The Origination Fee covers the expenses involved with the setting up and management of the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay all of your loan at any point in time.
If you do decide to pursue this option, please contact our helpful business lending experts. They will offer you with details on repayment along with an early payout estimate. This is calculated as the total of the principal amount remaining and any accrued interest at the date of early payout plus 1.5 percent of the principal amount remaining and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line your cash flow schedule, we offer repayments either weekly or daily. These are automatically deducted from the nominated company account.
Security of your data, and being clear about the ways we gather data, process, exchange and ensure the security of your information is of paramount importance and is a crucial element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online, allowing us to offer quick responses.
The term "asset-based" refers to borrowing where an company owner uses an asset that they own to secure the funds for a loan. The asset can be an individual property, such as the family home, or it could be a business asset such as a vehicle as well as a piece of machine.
The majority of the lenders not just the major banks, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, then your assets could be taken over by the lender. In essence, it’s means of securing new funding using the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security before you are able to access the money, however we do require the personal guarantee. If you adhere to your loan obligations (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150K typically, you will need personal ensure and security that is in the form the charge of assets.
