The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Do you need more money? Check out the eligibility requirements for our $100K-$500K company credit.
All that is needed to get started is your contact information (company name, your name, email address or phone number) and the amount you’d like to lend, and your monthly income.
Through the process and before settlement we’ll need confirmation of your identity but not before we can begin:
After we start with loans that exceed $150,000, you’ll 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. They also offer cash flow friendly repayments, which are either daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and the funds could be in your account in 24 hours. Traditional business loans have an annual interest rate plus other fees and charges. This business loan is a pre-paid loan which means you know ahead of time the amount you will have to pay, including any interest, fees or charges. Then, it is broken down into weekly or daily installment amount.
The Small Business Loan can be used for almost every business reason, such as cash flow management, company renovations, marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly, depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
To qualify for a loan in this amount, your company needs to have been trading for at least 3 years and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A larger company loan can be used for almost any business use, including company remodeling, buying new equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is required for accessing funds over $150,000. It is usually in the form of a charge on assets, and could include the registration of this through the PPSR or filing a caveat.
A personal or director’s ensure is a commitment to pay back a loan that is generally based rather than stipulating security over a particular asset. The person who is signing the guarantee is personally accountable if the company 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 that are registered for personal property (including the assets or goods). The PPSR gives priority over personal property to be granted in accordance with the date on which a registration of a security interest.
A caveat is a legal document filed to offer the public notice of a legal claim against a property.
When you’re applying for a Larger Business Loan that is greater than $250K we may be able to provide a preliminary pre-approval to help make the process. We could be able to get this done without credit checks and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial well-being checks. It is in no way an offer, nor is it a guarantee of financing. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you are offered could be based on different conditions.
You may be eligible for a company loan if you;
The application process is fast and easy. Complete the online form in just a few minutes, and a dedicated business expert in lending will contact you to assist you.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Application details including credit consent and 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, as well as interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we typically provide an answer within one hour, provided you make your application within standard business hours and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your bank statements , we will be able to provide a decision within just the span of one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Certain transactions have received approval within just 24 hours.
The quickest method is to ensure you apply during normal business hours. Also, allow us to use the advance bank verification to instantly verify your bank account information online. If you decide to send us duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer a response in one hour – as long as you submit your request within standard business hours and let us utilise the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements we can offer the decision in just 1 business day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to provide you with a conditional pre-approval in about six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this can be faster depending on the specifics of each application. Certain transactions have received approval in 24 hours.
The most effective method can be make sure you apply during standard business hours, and let us use the advance bank verification to confirm your bank details online. If you send us documents from your account statement, it can take a bit longer.
We provide loans that range from $5,000 and $500,000. If you apply for a certain amount we take into consideration a range of elements to determine your health for your business and the extent of repayments that your company is able to afford. The amount you receive from the loan will be determined by the specific circumstances the business.
When you apply for a specific amount we look at a range of elements to assess how much we can lend you such as health of the business and the level of the repayments your business can afford. The amount you receive from your loan will be determined by the particulars the business.
When you request our business financing, we’ll assess the risk profile for your company and offer an individualised proposal that includes the amount of loan, the term and the interest rates. This company loan is an upfront priced loan so you will know the exact amount to be paid, including any interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors like the amount of money borrowed, what business assets the money will be used for in addition to the industry that the company operates in, the long the business has been running, in the event that the company has enough cash flow to fund the loan, and overall well-being and creditworthiness of the business.
There aren’t any hidden costs for our company loans. You’ll know precisely how much it is that you be required to pay, and when, from day one. There’s no compounding and no extra fees (as as you make your payments on time).
We don’t charge an Application Fee. You are able to request a credit loan with no cost upfront or any obligation to sign up.
The Origination Fee covers the costs associated with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You can repay the entire amount of your loan in full at any time.
If you choose to take this route, please contact our helpful company lending experts. We will offer you with details for repayment as well as an early payout amount. This will be calculated as the sum of the principal balance and any accrued interest at the time of the early payout, plus 1.5% of the principal balance plus any outstanding fees.
To help you avoid missing payment dates and to align your cash flow schedule, we provide payments that are either daily or weekly. These are automatically deducted from your company account.
Making sure that your information is secure, and being upfront about how we collect the information we collect, use, share and protect your information, is of huge importance and an integral part of our relationship you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system that allows you to immediately verify the bank account details online, allowing us to provide quick responses.
An asset-based loan is when an business owner utilises assets they own to secure the funding. The asset can be a personal asset like the family home or an company asset such as a vehicle or piece or equipment.
The vast majority of banks, including the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan, the asset could be offered for sale by the lender. In essence it’s an opportunity to secure additional financing making use of the value of what you already own.
For loans of up to $150K, no asset security is required upfront to access the money but we require a personal guarantee. require the personal guarantee. In the event that you fulfill the loan terms (as stipulated in the loan contract) the security of assets will never be required. For loans that exceed $150,000, generally there is a personal ensure and security in the form a charge over assets.
