The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business financing.
All that’s needed for starting is your contact information (the name of your company, your name, email, phone) as well as the amount you’d like to borrow and your monthly earnings.
During the process and before settlement we’ll need confirmation of who you are, but not to get started:
After we start in the process, for loans of more than $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
It is possible to apply to get this Small Business Loan in under 10 minutes by phone. You will receive a same day response and have the funds in your account in 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. The company loan is a pre-paid loan and you’ll be aware of the total amount to be paid, including the interest, fees and charges. This is then divided into a daily or weekly installment amount.
The Small Business Loan can be used to fulfill almost any company reason, such as managing cash flows, company remodels and marketing to purchase inventory, new equipment, to fund 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 range between $100,000 and $500,000 with a term fixed up to 36 months. The repayments are made weekly or fortnightly depending on you cashflow.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size the business needs to have been trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A large company loan can be used to fund almost all business purpose including company renovations, to purchase new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. It’s in the form of a charge over assets, and may include registration in the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is generally based rather than specifying the security for a particular asset. The person who is signing the ensure is personally accountable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR gives preference over private property assigned according to the date a security interest that is registered.
Caveats are legal form of document to offer the public notice of a legal claim to property.
When you’re applying for an enterprise loan that is greater than $250,000 it’s possible to offer an initial pre-approval that will help simplify the process. We might be able to do this without a credit verification and within six hours of your initial application. This pre-approval is based on an initial assessment that includes you answering a few financial health checks. It is not an offer or guarantee of funds. The approval of a conditional loan is subject to a full credit assessment and any offer that you are offered could be on different conditions.
You are eligible to apply for an business loan if you
The application process is quick and easy. Just fill out the online application in just a few minutes, and a dedicated business lending specialist will be in touch to guide you through the process.
To apply for up $100,000, you’ll require identification details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months of bank statements.
For larger loan sizes, you’ll also require:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour if you make your application during standard company timings and let us make use of 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 just an company day.
For the Larger Business Loan ($100K and up) we may be likely to offer you with conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Some deals have been approved in just 24 hours.
The fastest way is to ensure you apply during normal company hours. You can also permit us to use the advanced bank verification system to instantly verify your bank account information online. If you upload the copies of bank accounts, it will take a little longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour if you make your application at standard business timings and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statements, we’ll be able to offer the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be in a position to offer you with pre-approval conditional to your application in around 6 hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest way can be make sure you apply during normal business hours. Also, allow us to use the advance bank verification link to confirm your bank details online. If you opt to upload copies of your bank statements, it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. When you submit an application for a certain amount we take into consideration a range of factors that determine the health for your company and the extent of payments your company can support. The total amount of your loan will depend on the specific circumstances for your company.
When you apply for a set amount, we take into consideration a variety of variables to determine your health that is your business and the amount of repayments your business will be able to support. The amount you receive from your loan will be determined by the particular circumstances that are unique to your business.
If you decide to make an application for the company loan, we’ll assess the risk assessment of your company and provide an individualised offer including the amount of the loan, the duration and the interest rates. It is a business loan is a loan that is priced upfront and you’ll be aware of the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates differ based on various variables like the amount to be borrowed, the company assets the funds are used to purchase and the sector the company is in, how long the business has been running for, how long the company has sufficient cash flow to support the loan, and the general health or financial standing of the company.
There aren’t any hidden costs with our business loans. You’ll know precisely how much it is that you need to pay, and when, from the very first day. There’s not any compounding interest and no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can choose to repay the total amount of your loan early at any time.
If you are deciding to take this route, please speak to our friendly company credit experts. They’ll offer you with details on repayment as well as an early payout amount. It will be calculated using the total of the principal remaining and any accrued interest at the date of early payout in addition to 1.5 percent of the principal remaining and any fees that remain unpaid.
To ensure you do not miss repayments and to fit in with your cash flow standard, we provide payments that are either weekly or daily. They are automatically deducted from your company account.
Security of your data, and making it clear how we collect information, use it, and exchange it, as well as secure your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our clients and security. We make use of an advanced banking verification system to immediately confirm your bank account information online, allowing us to provide an immediate response.
An asset-based loan is when a business owner utilises an asset that they own to secure a loan. The asset could be an individual asset, such as the family home, or an company asset such as a truck as well as a piece of machine.
The majority of the lenders including the big banks, tend to secure loans against an asset. If you have trouble paying back the loan then your asset may be transferred to the lender. In essence it is a way of securing new financing using the worth of the asset you already have.
For loans that exceed $150K, it is not necessary to secure assets prior to the loan’s access, however we require a personal guarantee. need a personal guarantee. As long as you follow the loan terms (as stated in the loan contract) the security of assets will never be required. For loans of over $150,000 typically, you will need an individual guarantee and security that is in the form charges on assets.
