The requirements for getting 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 required to start is your contact information (the name of your company and your name, as well as email and phone) along with the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we’ll need confirmation of your identity, but not to get started:
In addition, once we have started with loans greater than $150,000 you will also require basic financial statements.
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and have the funds in your account in 24 hours. Traditional company loans reference an interest rate per annum plus other fees and charges. This business loan is a cash-based loan so you will know ahead of time the amount you will have to pay, including the interest, fees and charges. Then, it is divided into weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost every company use, including the management of cash flow, business remodels and marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. The repayments are made weekly or fortnightly to work with your situation.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount the company needs to be in operation for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger company loan can be used for almost every company purpose including company renovations, to purchase equipment or inventory, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. This is in the form of a charge over assets, which could also include registering this through the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee 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 company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including objects or assets). The PPSR grants priority over personal property to be assigned depending on the date that a security interest that is registered.
An affidavit is an official document lodged to offer the public notice of a legal claim on a property.
If you’re requesting larger business loans of $250,000 or more we may be able to provide an initial pre-approval to smooth out the process. We may be able to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering some financial health questions. It is not an offer or guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could have different conditions.
You are eligible to apply for a business loan if you:
The application process is fast and simple. Complete the online form within a couple minutes, and a dedicated company expert in lending will contact you to guide you.
To apply for up $100,000, you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent twelve month bank accounts, the IRD statement and the last two years’ finalised financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we typically provide an answer in just one hour – as long as you make your application during standard company timings and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements , we will be able to offer an answer within the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved in 24 hours.
The quickest way to apply can be make sure you apply during standard company hours. You can also allow us to use our advance bank verification link to check your bank’s information online. If you opt to upload duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K or more) We can usually offer an answer in just one hour if you submit your request within standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statement, we’ll offer a decision in as little as 1 business day.
For Larger Business Loans ($100K or more) We may be likely to provide you with conditional pre-approval within about six hours. Once you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved in the space of 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours. You can also permit us to use the modern bank verification to instantly confirm your bank details online. If you choose to send us the copies of bank statements it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of variables to determine your health of your company and the level of repayments your company is able to afford. The total amount of your loan will depend on the specific circumstances for your company.
When you submit an application for a certain amount, we look at a range of factors to determine the well-being that is your company and the extent of repayments your business will be able to support. The total amount of your loan will depend on the specific circumstances the company.
If you decide to request one of our company credit, we’ll assess the risk profile for your business and offer you with a customised offer including the loan amount, the terms and interest rates. The business loan is an upfront priced loan so you will know the exact amount to be paid, including any costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors like the amount of money borrowed, what company assets the money are used to purchase and the sector the company operates in, how long the business has been in operation as well as in the event that the business has sufficient cash flow to support the loan, and the general health and creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll know precisely how much you’ll need to pay and when, starting from the very first day. There’s no compounding interest and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an application fee. You are able to make an application for loans with with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can choose to repay the entire amount of your advance loan at any time.
If you are deciding to do this please contact our helpful company loan experts. They will offer you with details on repayment and an early payout figure. This will be calculated as the total of the principal amount remaining and accrued interest to the date of early payout in addition to 1.5% of the principal balance and any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
Making sure that your information is secure, and being clear about how we collect the information we collect, use, share and ensure the security of your information is of paramount importance and an integral element of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system that allows you to immediately confirm your bank account information online so we can offer rapid response.
Asset-based borrowing is when a company owner makes use of an asset they own to obtain a loan. The asset may be a personal asset like the family home or a company asset like a truck or other piece of machinery.
The vast majority of banks, even the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan then your assets could be sold by the lender. In essence, it is a way of securing new financing by making use of the value of what you already have.
For loans up to $150,000 there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. require a personal guarantee. As long as you follow your loan commitments (as specified in the loan contract), asset security is not required. For loans over $150K generally, you can get the option of a personal ensure and security is provided in the form of the charge of assets.
