The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K to $500K business credit.
All that’s required to get started is your contact details (company name, your name, email, phone) and the amount you want to borrow, and your monthly revenue.
While in the process and before settlement we will require confirmation of your identity but not to get started:
After we start with loans of more 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, with terms ranging from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply to the Small Business Loan in under 10 minutes via the internet or over the phone, receive an answer within the same day and have the funds in your account in 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. This company loan is a pre-paid loan therefore you’ll know in advance the total amount payable including the interest, fees and charges. Then, it is divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually every business purpose including cash flow management, company improvements, advertising, to purchase inventory or new equipment, as general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
This 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, your business needs to be trading for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost all company purpose including company remodeling, buying inventory or new equipment for general working capital, and much more. The loan is not available for personal use.
Asset security is needed for accessing funds over $150,000. It’s as a result of an charge on assets, and may include registering this through the PPSR or filing a caveat.
A personal or director’s ensure is a commitment to repay credit that is general in nature, rather than stating the security of a specific asset. The person signing the ensure is personally accountable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR grants prioritisation over property that is personal to be granted according to the date the security interest was registered.
A caveat is a legal document that is filed to provide the public notice of a legal claim to property.
When you’re applying for an enterprise loan of $250K or more it’s possible to offer an initial pre-approval that will help ease the process. We could be able to apply for this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial health checks. This is not an offer or guarantee of credit. A conditional approval is subject an assessment of your creditworthiness and any offer you may receive may be subject to different conditions.
You may be eligible for an company loan if you
The application process is simple and easy. Just complete the online application in just a few minutes, and an experienced business loan specialist will be in touch to guide you.
To apply for up to $100,000, you’ll require ID details (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent twelve month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) We can usually provide an answer within an hour – as long as you make your application during quality business timings and permit us to 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 provide an answer within the span of one company day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer the conditional pre-approval in around six hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Some deals have been approved within the space of 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and allow us to use the advance bank verification to confirm your bank details online. If you decide to upload documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour if you apply during standard business time and let us make use of the advanced bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statement, we’ll provide a decision in just an business day.
For Larger Business Loans ($100K or more) we may be capable of provide you with conditional pre-approval in about six hours. Once you’ve signed your pre-approval document, you will require to wait about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some offers have been approved within 24 hours.
The most effective method would be to make sure you apply during standard business hours, and let us use the sophisticated bank verification link to verify your bank information online. If you opt to send us copies of your bank statements, it may 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 look at a variety of elements that determine your health that is your company and the amount of repayments your company is able to afford. The total amount of the loan will be determined by the particular circumstances for your business.
When you make an application for a specific amount we look at a range of elements to assess the well-being for your company and the amount of payments your business will be able to support. The amount you receive from your loan will be contingent on the particular circumstances of your company.
If you decide to apply for our business loans, we’ll assess the risk assessment that you have for your company and provide you with a customised proposal that includes the loan amount, the terms and the interest rates. This company loan is an upfront cost loan and you’ll be aware in advance of the total amount due, which includes any charges or interest.
The interest rates on business loans rates depend on several factors such as the amount that is that is borrowed, what company assets the money will be used for and the sector the company operates in, how long the business has been in operation as well as what percentage of the company has sufficient cash flow to cover the loan, and the general health or creditworthiness of the company.
There aren’t any hidden costs for our business loans. You’ll know exactly how much you need to pay, and when, right from day one. There’s no compounding interest and no extra fees (as long as you are able to make your payments in time).
We do not charge an Application Fee. You are able to request a credit loan with with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay all of your loan at any point in time.
If you are deciding to take this route, please call our helpful company credit professionals. We will provide you with details for repayment and an early payout figure. This is calculated as the sum of the principal remaining and any accrued interest at the date of early payout in addition to 1.5% of the remaining principal and any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow standard, we offer repayments either weekly or daily. They are automatically deducted from your designated business account.
Making sure that your information is secure, and making it clear the ways we gather, use, exchange and protect your information, is crucial and an integral part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We employ a highly sophisticated banking verification system to immediately verify your bank account details online. This allows us to offer rapid response.
The term "asset-based" refers to borrowing where a business owner borrows from an asset they own to secure the funding. The asset can be an asset belonging to the personal, like the family home or an company asset such as a vehicle or piece or equipment.
The majority of banks, even the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan then your asset may be taken over by the lender. In essence it’s the process of securing new financing by using the value of what you already own.
For loans that exceed $150,000, it is not necessary to secure assets upfront to access the money however, we do require the personal guarantee. In the event that you fulfill the loan terms (as detailed in your loan contract document) the security of assets is not required. For loans that exceed $150,000, typically, you will need an individual ensure and security in the form the charge of assets.
