The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Review the guidelines for eligibility for our $100K to $500K company credit.
All you need to begin is your contact information (the name of your company, your name, email address and telephone), how much you want to borrow, as well as your monthly income.
Through the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started, for loans greater than $150,000 you’ll also need basic financial statements.
Let’s get started.
Sydney unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
You can apply for the Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and funds may be available in just 24 hours. Traditional company loans reference an annual interest rate along with other charges and fees. The company loan is a pre-paid loan therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. This is then broken down into either weekly or daily repayment figure.
It is a Small Business Loan can be used to fulfill almost every business use, including managing cash flows, company remodeling, marketing to purchase inventory, new equipment, to fund general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount, your business needs to have been operating for at least three years, and have an annual income of at least $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger business loan can be used to fund almost any business purpose including company renovations, purchase of new equipment or inventory or as general working capital, and much more. The loan is not available for personal reasons.
Asset security is required for funding of more than $150,000. This can be done by way of charge over assets, and may include registering this with the PPSR or registering a caveat.
A personal or director’s guarantee is a promise to repay credit that is general in nature rather than stipulating security over a particular asset. The person who signs the guarantee is personally liable in the event that the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR grants the priority of personal property granted according to the date the registration of a security interest.
An affidavit is an official document filed to offer the legal claim to a property.
If you’re applying for the Larger Business Loan of $250,000 or more we can offer an initial pre-approval that will help smooth out the process. We might be able to do this without a credit check and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial health checks. It is neither an offer nor a guarantee of credit. Unconditional approval is subject to an extensive credit evaluation and any offer you are offered could have different conditions.
You are eligible to apply for an company loan if you;
The application process is fast and simple. Complete the online form within a few minutes and an experienced company loan specialist will call you to assist you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent, 12 months of bank statements, IRD statement, last 2 years finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K to $100K) we typically provide an answer within an hour if you apply at quality business hours and allow us to use the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your banking statements , we will be able to offer an answer in as little as 1 business day.
For the Larger Business Loan ($100K to $500K) 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 form, it will take around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain deals have been approved in 24 hours.
The fastest way would be to make sure you apply during standard company hours. Also, allow us to use our advanced bank verification system link to instantly confirm your bank details online. If you decide to send us copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer a response in one hour, provided you make your application within normal business time and allow us to use the bank verification system link to instantly verify your bank’s information online. If you choose 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 and up) we might be likely to offer you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Certain agreements have been approved in less than 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours, and let us use the modern bank verification link to instantly check your bank’s information online. If you choose to send us copies of your bank statement, it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount, we look at a variety of elements for determining what is the health of your company and the extent of payments your business is able to afford. The amount you receive from your loan will depend on the particular circumstances the company.
If you apply for a specific amount we consider a variety of factors to assess your health of the business and the level of the repayments your business can support. The amount you receive from the loan will be determined by the particulars that are unique to your business.
When you make an application for our business financing, we’ll assess the risk assessment for your company and offer you with a tailored offer including the amount of loan, the term and the interest rates. It is a company loan is an upfront cost loan therefore you will know in advance the total amount payable including any interest rates, fees or charges.
Interest rates for business loans rates vary due to factors such as the amount that is borrowed, the business assets the funds will be used for in addition to the industry that the business operates in, the long the business has been operating, how long the company has sufficient cash flow to fund the loan, as well as the general well-being and creditworthiness of the business.
There are no hidden costs for our company loans, and you’ll know precisely how much it is that you need to pay, and when, starting from the very first day. There’s no compounding interest and no additional fees (as as you make your payments on time).
We do not charge an application fee. You can request a credit loan with no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can repay the entire amount of the loan in full at any time.
If you do decide to do this please call our helpful business loan professionals. They will provide you with repayment details and an early payout figure. This is calculated as the total of the principal remaining and any accrued interest at the time of early payment and 1.5% of the remaining principal as well as any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow schedule, we offer repayments either daily or weekly. They are automatically deducted from your nominated business account.
The security of your personal information, as well as knowing the ways we gather the information we collect, use, share and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to security for our customers and security. We utilise a sophisticated bank verification system link to immediately verify the bank account details online. This allows us to offer an immediate response.
Asset-based borrowing is when a business owner makes use of an asset they own to get the funding. The asset may be a personal asset like the family home, or an company asset like a truck as well as a piece of machine.
The vast majority of lending institutions, even the big banks, tend to make loans secured by assets. If you have trouble paying back the loan then your assets could be taken over by the lender. In essence it is a way of securing new financing by making use of the value of what you already own.
Up to $150K in loans no asset security is required prior to the loan’s access, however we do need a personal guarantee. In the event that you fulfill the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K generally, you can get an individual guarantee and security in the form of an asset charge.
