The eligibility requirements for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Do you need more money? Take a look at the guidelines for eligibility for our $100K-$500K business loan.
All you need to begin is your contact details (company name, your name, email, phone) along with the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we’ll require confirmation of who you are, but not to get started:
Once we’ve started with loans of more than $150,000 you will also require basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
Apply to the Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and have the funds in your account in 24 hours. Traditional company loans reference an interest rate per annum plus other fees and charges. This company loan is a pre-paid loan so you will know ahead of time the total amount due, which includes the interest, fees and charges. This is then broken down into either weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost any company need, such as control of cash flow company remodels and marketing, 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 of loan that can be used to fund company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To be eligible for a credit that is this large the company needs to have been in operation for at least 3 years, and have an annual income of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large business loan can be used for almost any company use, including company renovations, purchase of inventory or new equipment, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed for funding of more than $150,000. This can be done by taking a charge against assets, and may include the registration of this with the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally in nature rather than defining security over an asset. The person who signs the ensure is personally liable in the event that the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including the assets or goods). The PPSR gives preference over private property assigned according to the date a security interest that is registered.
An affidavit is an official form of document to offer notice of a legal claim on a property.
If you’re requesting the Larger Business Loan of more than $250,000, we may offer an initial pre-approval to smooth out the process. We might be able to get this done without a credit check, and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial well-being checks. It is not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you receive could be on different conditions.
You may be eligible for an business loan if you:
The application process is fast and simple. Complete the online form in just a few minutes, and a dedicated business expert in lending will contact you to guide you through the process.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License), a valid NZBN/IRD as well as at least six months of bank statements.
For larger loan sizes, you’ll also require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details of the application, 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 financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we can often offer an answer within an hour – as long as you apply in standard company hours and let us utilise the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements , we’ll be able to provide a decision in just one business day.
For the Larger Business Loan ($100K and up) we might be in a position to offer you with pre-approval conditional to your application within about six hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain agreements have been approved in 24 hours.
The quickest way to apply can be ensure you apply during standard business hours, and let us use the advanced bank verification system link to check your bank’s information online. If you choose to upload duplicates of your banking accounts, it will take a little longer.
For the Small Business Loan ($5K or more) we typically provide an answer in just one hour if you submit your request during normal business timings and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements we can offer a decision in just the span of one business day.
For Larger Business Loans ($100K to $500K) We may be in a position to offer the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Certain offers have been approved in less than 24 hours.
The most efficient method would be to ensure you apply during normal business hours. You can also allow us to use our modern bank verification link to instantly verify your bank account information online. If you choose to upload the copies of bank statement, it can take a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a specific amount we will consider a number of elements to determine how much we can lend you health that is your company and the level of payments your business can support. The amount you receive from your loan will depend on the specific circumstances for your business.
When you make an application for a specific amount we take into consideration a variety of elements to assess the health of your business and the amount of repayments your company will be able to support. The total amount of your loan will depend on the specific circumstances for your company.
When you apply for the business loan, we’ll assess the risk profile of your business and provide you with a customised offer including loan amount, term and the interest rates. It is a business loan is an upfront priced loan and you’ll be aware in advance of the total amount due, which includes any charges or interest.
Interest rates for business loans rates differ based on various factors such as the amount that is of money borrowed, the business assets the funds are used to purchase in addition to the industry that the business is in, how long the business has been running and how long the business has sufficient cash flow to fund the loan, and general well-being as well as creditworthiness 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, right from day one. 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 apply for a loan with no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated with establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can repay the entire amount of your loan in full at any time.
If you choose to do this please call our helpful business loans experts. They will provide you with the details of your repayment as well as an early payout amount. It will be calculated using the total of the principal amount remaining and accrued interest to the time of the early payout in addition to 1.5% of the principal amount remaining as well as any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we provide payments that are either daily or weekly. They are automatically deducted from your designated business account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as protect your information, is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to security for our clients and security. We employ a highly sophisticated bank verification system to instantly verify the bank account details online to offer an immediate response.
An asset-based loan is when the company owner uses an asset that they own to get the funds for a loan. The asset can be an individual property, such as the family home or it could be a company property like a truck as well as a piece of machine.
The vast majority of lenders, including the big banks, tend to make loans secured by an asset. If you are having difficulty paying back the loan, your assets could be sold by the lender. In essence it’s means of securing additional financing using the value of what you already have.
For loans that exceed $150K, no asset security is required before you can access the money, however we require a personal guarantee. need an individual guarantee. As long as you follow the loan terms (as specified in the loan contract), asset security will never be required. For loans over $150K generally there is a personal guarantee and security is provided in the form of an asset charge.
