The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Are you looking for additional funding? Take a look at the guidelines for eligibility for our $100K to $500K company financing.
All you need to begin is your contact details (the name of your company and your name, as well as email and phone) along with the amount you’d like to borrow as well as your monthly income.
During the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
After we start with loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started now.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow friendly repayments which can be made daily or weekly.
Apply to get the Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and the funds could be available in just 24 hours. Traditional business loans have an annual interest rate together with additional fees and charges. Our business loan is a pre-paid loan therefore you’ll know in advance the amount you will have to pay, including the interest, fees and charges. Then, it is divided into weekly or daily repayment figure.
A Small Business Loan can be used for nearly every business use, including cash flow management, company remodels and marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large the company needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan is a great option for almost all company purpose including company renovations, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
Asset security is needed to obtain funding above $150,000. This can be done in the form of a charge over assets, and may include registration on the PPSR or filing a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is general in nature, rather than defining the security of a specific asset. The person signing the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR grants priority over personal property to be assigned according to the date a security interest has been registered.
An affidavit is an official document filed to provide the legal claim to a property.
If you’re applying for an enterprise loan that is greater than $250,000 it is possible to offer an initial pre-approval to smooth out the process. We could be able to make this decision without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health checks. This is neither an offer nor a guarantee of financing. A conditional approval is subject an exhaustive credit evaluation, and any offer that you might receive could be on different terms.
You are eligible to apply for a company loan if you:
The application process is fast and easy. Just complete the online application in few minutes and an experienced business loan specialist will contact you to assist you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent, 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within an hour, provided you make your application during quality business time and let us utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your banking statements , we are able to offer the decision in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K and up) we may be in a position to provide the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved within less than 24 hours.
The quickest method would be to ensure you apply during standard company hours. Also, allow us to use the modern bank verification to instantly verify your bank information online. If you send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K or more) we usually offer a response in one hour if you submit your request in standard business hours and you allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statement, we’ll offer an answer within 1 business day.
For Larger Business Loans ($100K and up) we could be in a position to offer you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Some offers have been approved in just 24 hours.
The fastest method would be to ensure you apply during normal business hours, and allow us to use our advance bank verification link to verify your bank information online. If you upload the copies of bank accounts, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount we take into consideration a range of elements to determine your well-being of the company as well as the amount of repayments that your business can afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
If you apply for a particular amount, we look at a range of variables to determine the health of the business and the level of repayments that your business is able to afford. The total amount of your loan will be determined by the specifics the company.
When you request the company loan, we’ll assess the risk assessment of your company and provide you with a customised offer including the amount of the loan, the duration and interest rates. This company loan is an upfront priced loan therefore you will know the exact amount payable including any costs, fees, or interest rates.
The interest rates on company loans rates differ based on various factors such as the amount that is borrowed, what company assets the funds are used to purchase as well as the field the company is in, how long the company has been operating, how long the business has sufficient cash flow to fund the loan, and the general health as well as creditworthiness company.
There are no hidden costs with our business loans, and you’ll know precisely how much you’ll be required to pay and when, from the first day. There’s no compounding and no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to request a credit loan with no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay all of your loan in full at any time.
If you do decide to do this please speak to our friendly business credit experts. They will offer you with the details of your repayment as well as an early payout amount. This is calculated as the sum of the principal remaining and the accrued interest up to the time of early payout and 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing repayments and to fit in with your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your nominated company account.
Security of your data, and being transparent about how we collect, use, exchange and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to customer security and security. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account details online, allowing us to provide a fast response.
An asset-based loan is when the business owner uses an asset they own to secure the funding. The asset may be an asset belonging to the personal, like the family home or an business asset like a truck or other piece of machinery.
The majority of the lenders even the big banks, tend to guarantee loans against assets. If you are having difficulty paying back the loan then your assets could be transferred to the lender. In essence, it is means of securing new funding taking advantage of the value of what you already own.
Up to $150,000 in loans there is no requirement for asset security before you are able to access the money however, we do need an individual guarantee. If you adhere to your loan commitments (as stipulated in your loan contract document), asset security will never be needed. For loans over $150K generally there is a personal guarantee and security is provided in the form of charges on assets.
