The criteria for eligibility for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K business loan.
All that is needed to begin is your contact details (the name of your company and your name, as well as email and telephone) and the amount you want to borrow, and your monthly earnings.
In the course of the process and before settlement we will need confirmation of your identity but not for starting:
Once we’ve started, for loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply to this Small Business Loan in under 10 minutes via the internet or by phone. You will receive an immediate response, and have the funds available in just 24 hours. Traditional business loans have an interest rate per annum as well as other fees and charges. Our business loan is an upfront priced loan therefore you’ll know ahead of time the total amount to be paid, including any fees, interest or charges. This is then broken down into either weekly or daily installment amount.
The Small Business Loan can be used for virtually every business purpose including control of cash flow business improvements, advertising, to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a credit in this amount, your business needs to have been operating for a minimum of 3 years with an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan is a great option for almost every company purpose including business remodeling, buying inventory or new equipment or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. It’s by taking a charge over assets, and may be registered through the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than stipulating the security for a particular asset. The person signing the ensure is personally accountable if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR gives priority over personal property to be granted depending on the date that a security interest that is registered.
Caveats are legal document filed to offer notice of a legal claim against a property.
When you’re applying for larger business loans of more than $250K we may be able to provide an initial pre-approval to ease the process. We could be able to do this without a credit verification and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is not an offer or guarantee of financing. A conditional approval is subject a full credit assessment and any offer that you might receive could have different terms.
You are eligible to apply for an company loan if you:
The process for applying is fast and easy. Just complete the online application in few minutes and an experienced business lending specialist will contact you to guide you.
To apply for up to $100,000 you’ll need identification details (valid Driver’s License) and an active NZBN/IRD, and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Information on the application including credit consent and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) We can usually offer a response in one hour – as long as you make your application within quality business time and you allow us to utilise the bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements , we are able to provide a decision in as little as an business day.
If you are applying for a Larger Business Loan ($100K and up) we may be likely to provide the conditional pre-approval in around six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain transactions have received approval in the space of 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours and allow us to use the advanced bank verification system link to instantly check your bank’s information online. If you opt to send us copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer in just one hour, provided you submit your request at standard business time and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statement, we’ll provide an answer in as little as an business day.
For Larger Business Loans ($100K and up) we may be capable of offer the conditional pre-approval within about six hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Certain agreements have been approved in 24 hours.
The fastest method for you to apply is make sure you apply during standard business hours and allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you send us 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 certain amount, we will consider a number of factors that determine what is the well-being of your business and the extent of repayments that your company can afford. The total amount of your loan will be contingent on the specific circumstances that are unique to your company.
When you make an application for a certain amount, we will consider a number of factors to determine the well-being for your business and the level of repayments that your company can support. The amount you receive from the loan will be determined by the particulars of your company.
When you apply for our business loans, we’ll assess the risk assessment that you have for your business and provide you with a tailored proposal that includes loan amount, term and interest rates. The company loan is a loan that is priced upfront therefore you will be aware in advance of the total amount payable including any interest rates, fees or charges.
Business loan interest rates vary due to factors like the amount of money borrowed, what business assets the money are used to purchase and the sector the company is operating in, how long the business has been running as well as what percentage of the company has sufficient cash flow to support the loan, as well as the general well-being as well as creditworthiness business.
There aren’t any hidden costs with our business loans. You’ll know precisely how much you be required to pay and at what time, from the day you sign up. There’s no compounding interest and the loan comes with no additional fees (as as long as you pay your payments in time).
We do not charge an application fee. You can request a credit loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You may choose to pay back the entire amount of your loan in full at any time.
If you do decide to take this route, please call our helpful business lending specialists. They will provide you with repayment details and an early payout figure. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the time of the early payout and 1.5 percent of the principal balance as well as any outstanding fees.
To ensure you do not miss due dates and also to be in line your cash flow schedule, we offer repayments either weekly or daily. They are automatically deducted from your nominated company account.
Making sure that your information is secure, and knowing the ways we gather data, process, exchange and safeguard your data, is of huge importance and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We use an advanced banking verification system to instantly verify the bank account details online to provide a fast response.
An asset-based loan is when a business owner uses an asset that they own to secure the funding. The asset could be an asset belonging to the personal, like the family home or a business property like a truck or other piece of machinery.
The majority of the lenders even the banks with the biggest size, prefer to secure loans against assets. If you are having difficulty paying back the loan then your assets could be offered for sale by the lender. In essence, it is the process of securing additional financing making use of the value of what you already own.
For loans that exceed $150K, it is not necessary to secure assets in advance to gain access to the funds however, we do require the personal guarantee. As long as you follow your loan commitments (as detailed in the loan contract) the security of assets will never be needed. For loans over $150,000 generally, you are able to get personal ensure and security in the form of a charge over assets.
