The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Need more funds? Check out the guidelines for eligibility for our $100K to $500K company loan.
All you need to start is your contact information (company name and your name, as well as email or phone number), how much you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are, but not before we can begin:
Once we’ve started in the process, for loans that exceed $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 ranging from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
It is possible to apply to the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and the funds could be on your account within 24 hours. Traditional business loans refer to an interest rate per annum plus other fees and charges. This business loan is an upfront priced loan therefore you’ll be aware in advance of the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly payment amount.
The Small Business Loan can be used for almost any business need, such as managing cash flows, business renovations, marketing to purchase inventory, new equipment, or as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a credit of this size the business needs to have been operating for at least three years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Larger Business Loan can be used for almost all company use, including company renovations, to purchase equipment or inventory, as general working capital and so much more. The loan cannot be used for personal use.
Asset security is required for funding of more than $150,000. This is by taking a charge on assets and can include the registration of this with the PPSR or making as a caveat.
A personal or director’s ensure is a promise to repay credit that is general in nature, rather than specifying security over an asset. The person signing the ensure is personally accountable if the company 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 records security interests that have been granted to individuals who own personal property (including items or assets). The PPSR allows priority over personal property to be granted according to the date a security interest has been registered.
An affidavit is an official document filed to offer notice of a legal claim to a property.
If you’re seeking larger business loans that is greater than $250K we may be able to provide an initial pre-approval that will help smooth out the process. We may be able to do this without a credit check and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial well-being questions. It is in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you receive could be on different conditions.
You may apply for an company loan if you
The application process is fast and easy. Complete the online form in few minutes and a dedicated business expert in lending will contact you to guide you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Application details including credit consent and 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K and up) we can often offer an answer within one hour, provided you submit your request in standard company timings and allow us to utilise the bank verification system to instantly verify your bank details online. If you decide to upload copies of your banking statements , we are able to provide a decision in as little as 1 company day.
For Larger Business Loans ($100K up to $500,000) we may be able to offer you with conditional pre-approval in about six hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval. However, this may be quicker depending on the particular circumstances of each application. Some deals have been approved in less than 24 hours.
The most efficient method can be ensure you apply during normal business hours. You can also permit us to use the modern bank verification to instantly verify your bank information online. If you decide to upload duplicates of your banking statement, it takes a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within one hour, provided you submit your request at standard business times and permit us to make use of the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements, we will be able to offer the decision in just one business day.
For the Larger Business Loans ($100K up to $500,000) we might be able to offer you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Certain transactions have received approval within less than 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours and allow us to use our advanced bank verification system to instantly verify your bank account information online. If you opt to send us copies of your bank statements, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of factors for determining what is the well-being of your company as well as the amount of repayments that your business can afford. The total amount of the loan will be determined by the particular circumstances the business.
When you apply for a certain amount, we consider a variety of variables to assess the health of the company as well as the amount of the repayments your business can support. The amount you receive from the loan will be determined by the specifics the company.
When you request business loans with us company financing, we’ll assess the risk assessment of your business and provide an individualised offer that includes the amount of the loan, the duration and the interest rates. This business loan is an upfront priced loan which means you know the exact amount to be paid, including any charges or interest.
The interest rates on business loans rates depend on several factors including the amount of money borrowed, the company assets the funds are used to purchase as well as the field the business operates in, how long the business is in operation for, how long the company has enough cash flow to cover the loan, and overall well-being or financial standing of the company.
There aren’t any hidden charges for our company loans. You’ll know exactly how much you’ll need to pay, and at what time, from the 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 apply for a loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of the loan in full at any time.
If you decide to pursue this option, please call our helpful company lending experts. They’ll provide you with details for repayment and an early payment figure. This is calculated as the total of the principal balance plus any accrued interest as of the time of the early payout plus 1.5% of the principal remaining and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your designated company account.
The security of your personal information, as well as knowing the ways we gather data, process, exchange and ensure the security of your information is of huge importance and is a crucial element of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We use an advanced bank verification system link to immediately verify the bank account details online. This allows us to provide quick responses.
An asset-based loan is when an company owner utilises an asset that they own to make the funding. The asset can be either an asset belonging to the personal, like the family home or a company asset such as a truck or piece or equipment.
The vast majority of lending institutions, including the major banks, prefer to secure loans against an asset. If you have trouble paying back the loan, the asset might be transferred to the lender. In essence, it is a way of securing new financing using the worth of the asset you already own.
For loans up to $150,000 it is not necessary to secure assets before you can access the money However, we require a personal guarantee. require an individual guarantee. In the event that you fulfill your loan commitments (as stipulated in your loan contract), asset security is not needed. For loans of over $150,000 generally, there is a personal guarantee and security in the form of an asset charge.
