The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Do you require more money? Find out the conditions of eligibility for our $100K to $500K company loans.
All you need to start is your contact information (company name, your name, email address, phone), how much you’d like to borrow and your monthly revenue.
During the process and before settlement we will need confirmation of who you are, but not before we can begin:
Once we’ve started when it comes to loans of more than $150,000 you will also need basic financial statements.
Let’s get started.
Sydney unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and funds may be available in just 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. The company loan is a loan that is priced upfront and you’ll be aware in advance of the amount you will have to pay, including any interest, fees or charges. This is then broken down into either weekly or daily repayment figure.
The Small Business Loan can be used for nearly every company purpose including control of cash flow business remodeling, marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
To be eligible for a loan that is this large the business needs to be in operation for at least 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Larger Business Loan is a great option for almost every business need, including company renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. This can be done as a result of an charge against assets and can include the registration of this with the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally in nature rather than stipulating security over an asset. The person who is signing the guarantee is personally liable in the event that the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date the security interest that is registered.
Caveats are legal form of document to offer an official notice of a claim against a property.
When you’re applying for a Larger Business Loan that is greater than $250,000 we may be able to provide an initial pre-approval to ease the process. We might be able to get this done without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial well-being questions. This is not an offer of credit or guarantee of financing. A conditional approval is subject an assessment of your creditworthiness and any offer you are offered could be based on different terms.
You may apply for a business loan if you:
The application process is simple and easy. Simply complete the online form in just a few minutes, and a dedicated business credit specialist will contact you to guide you through the process.
To apply for up to $100,000, you’ll need identification details (valid Driver’s Licence) and a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, as well as interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) we can often offer an answer within an hour, provided you submit your request at standard company hours and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements , we will be able to offer an answer within 1 business day.
For the Larger Business Loan ($100K and up) we may be in a position to provide you with pre-approval conditional to your application in about six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some offers have been approved within just 24 hours.
The most efficient method is to make sure you apply during normal company hours, and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you send us documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour, provided you apply during standard business time and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statements, we’ll be able to provide an answer in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be able to provide you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this can be faster depending on the particular circumstances of each application. Certain deals have been approved in just 24 hours.
The quickest method can be make sure you apply during normal business hours. You can also let us use the sophisticated bank verification to instantly check your bank’s information online. If you upload duplicates of your banking statements it can take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we look at a variety of variables that determine your health of the company and the level of repayments that your business can support. The amount you receive from your loan will depend on the particular circumstances the company.
When you submit an application for a set amount, we will consider a number of elements to assess how much we can lend you such as well-being of the business and the amount of repayments that your business is able to afford. The amount you receive from your loan will be determined by the specific circumstances that are unique to your business.
If you decide to request one of our company credit, we will assess the risk profile that you have for your company and offer an individualised proposal that includes the amount of loan, the term and the interest rates. A business loan is an upfront-priced loan which means you know in advance the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on several factors including the amount borrowed, the company assets the money will be used for in addition to the industry that the business operates in, how long the company has been running for, in the event that the company has sufficient cash flow to support the loan, as well as the general health and creditworthiness of the company.
There aren’t any hidden charges for our company loans. You’ll know precisely how much you be required to pay and at what time, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments punctually).
We don’t charge an Application Fee. You are able to get a cash loan with no cost upfront or commitment to apply.
The Origination Fee includes the expenses associated with the setting up and management of the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of your loan in full at any time.
If you decide to do this please speak to our friendly business lending experts. They’ll offer you with details for repayment and an early payout figure. This will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of the early payout, plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow cycle we offer repayments either weekly or daily. They will be automatically deducted from your designated company account.
Protecting your information, and being clear about how we collect the information we collect, use, share and protect your information, is of huge importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to security for our customers and security. We make use of an advanced banking verification system to instantly verify your bank account details online so we can provide an immediate response.
An asset-based loan is when the business owner utilises assets they own to get the funding. The asset can be an individual property, such as the family home or an business asset like a truck as well as a piece of machine.
The vast majority of the lenders including the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan then the asset could be sold by the lender. In essence it is the process of securing new financing taking advantage of the value of what you already own.
For loans up to $150,000 the requirement for asset security is not required in advance to gain access to the funds However, we require a personal guarantee. need an individual guarantee. As long as you follow your loan obligations (as stated in your loan contract), asset security is not required. For loans of over $150K typically, you will need an individual ensure and security in the form charges on assets.
