The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Find out the eligibility requirements for our $100K-$500K business financing.
All that is needed to get started is your contact information (company name, your name, email address and phone) along with the amount you’d like to borrow, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of your identity, but not to get started:
In addition, once we have started 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 between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply to get this Small Business Loan in under 10 minutes on the internet or over the phone, receive a same day response and the funds could be available in just 24 hours. Traditional business loans are based on an annual rate of interest plus other fees and charges. This company loan is an upfront priced loan so you will be aware of the total amount due, which includes any interest, fees or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually every company purpose including control of cash flow company renovations, marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly, depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan of this size the company needs to be operating for a minimum of 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A large business loan can be used for almost all business need, including business renovations, to purchase new equipment or inventory, as general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. It is usually by taking a charge over assets, and may be registered with the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is generally based rather than defining the security of a specific asset. The person who signs the ensure is personally liable in the event that the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR gives prioritisation over property that is personal 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 to a property.
When you’re applying for larger company loans of $250K or more, we may offer an initial pre-approval to smooth out the process. We may be able to get this done without a credit verification and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial well-being checks. It is not an offer or guarantee of credit. A conditional approval is subject an assessment of your creditworthiness and any offer that you might receive could be based on different conditions.
You may apply for an company loan if you;
The application process is simple and easy. Just complete the online application within a couple minutes, and an experienced company loan specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) We can usually provide a response in one hour if you apply during standard business hours and allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statement, we’ll offer an answer within one company day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer you with pre-approval conditional to your application within about 6 hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain transactions have received approval in 24 hours.
The fastest way is to make sure you apply during standard business hours and allow us to use the advance bank verification to confirm your bank details online. If you send us the copies of bank statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer within one hour – as long as you submit your request within normal business times and permit us to use the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements, we are able to provide a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K or more) we may be likely to offer you with conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some transactions have received approval in the space of 24 hours.
The fastest method can be ensure you apply during standard business hours, and allow us to use our modern bank verification link to instantly verify your bank information online. If you choose to upload the copies of bank statements it will take a little longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a particular amount, we will consider a number of factors in order to assess your well-being of your business and the amount of repayments that your company can support. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
If you apply for a specific amount we look at a range of aspects to determine how much we can lend you such as well-being that is your company as well as the amount of payments your business will be able to support. The amount you receive from the loan will be determined by the specifics of your business.
If you decide to apply for the company financing, we will assess the risk profile for your company and offer an individualised offer, including loan amount, term and the interest rates. This company loan is an upfront-priced loan and you’ll know the exact amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates depend on a variety of variables like the amount to be borrowed, what company assets the money are used to purchase and the sector the business is in, how long the company is in operation for, in the event that the company has enough cash flow to fund the loan, as well as the general health or financial standing of the business.
There are no hidden fees with our business loans, and you’ll be aware of the amount you need to pay and when, right from the very first day. There’s no compounding interest, and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an application fee. You are able to get a cash loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can choose to repay the entire amount of your loan early at any time.
If you are deciding to do this please contact our helpful business lending experts. The professionals will provide you with details for repayment as well as an early payout amount. The figure will be calculated as the sum of the principal balance and accrued interest to the date of early payout, plus 1.5 percent of the remaining principal plus any outstanding fees.
To ensure you do not miss payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from the nominated company account.
Security of your data, and making it clear how we collect information, use it, and exchange it, as well as safeguard your data, is vital and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We use an advanced banking verification system to immediately confirm your bank account information online, allowing us to offer rapid response.
Asset-based borrowing is when the business owner utilises an asset they own to make the funds for a loan. The asset may be a personal asset like the family home or a business asset like a truck or piece or equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to secure loans against assets. If you’re struggling to pay back the loan then the asset could be taken over by the lender. In essence it is means of securing new funding taking advantage of the value of what you already own.
For loans of up to $150,000, it is not necessary to secure assets before you are able to access the money but we do require an individual guarantee. In the event that you fulfill your loan obligations (as stipulated in your loan contract), asset security is not needed. For loans of over $150K generally, you are able to get a personal guarantee and security in the form an asset charge.
