The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K company loans.
All you need to begin is your contact details (company name, your name, email address and phone) and the amount you’d like to borrow, and your monthly income.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
Once we’ve started in the process, for loans over $150,000 you’ll need the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the money could be in your account in 24 hours. Traditional business loans have an interest rate per annum together with additional fees and charges. Our business loan is an upfront priced loan therefore you’ll be aware of the total amount to be paid, including any fees, interest or charges. This is then broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for nearly any company use, including managing cash flows, company improvements, advertising, to purchase inventory or new equipment, or as general working capital and so 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 company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to have been trading for at least 3 years with an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A Larger Business Loan can be used for nearly all business need, including business remodeling, buying inventory or new equipment for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This can be done by way of charge over assets, which could also include the registration of this with the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is generally based rather than stipulating security over a particular asset. The person signing the ensure is personally responsible if the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR gives prioritisation over property that is personal to be assigned according to the date the security interest has been registered.
Caveats are legal document that is filed to offer an official notice of a claim against a property.
If you’re requesting the Larger Business Loan that is greater than $250,000 we can offer an initial pre-approval in order to smooth out the process. It is possible to do this without a credit check and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial well-being questions. It is not an offer of credit or guarantee of funds. A conditional approval is subject a full credit assessment and any offer you are offered could be subject to different conditions.
You are eligible to apply for a company loan if you:
The application process is simple and simple. Just fill out the online application within a couple minutes, and an experienced company credit specialist will be in touch to help you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details of the application, including credit consent twelve months bank statement, an IRD statements and the last two years’ finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) We can usually offer an answer within an hour, provided you apply within standard business hours and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your bank statements we can provide an answer in just 1 business day.
For Larger Business Loans ($100K and up) we may be able to provide you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some transactions have received approval within just 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours. You can also allow us to use the advance bank verification to instantly confirm your bank details online. If you send us the copies of bank accounts, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we typically offer a response in one hour if you submit your request within normal business timings and permit us to use the bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we will be able to offer the decision in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be able to provide you with pre-approval conditional to your application within 6 hours. Once you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this can be faster depending upon the circumstances for each application. Certain transactions have received approval within just 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours, and allow us to use our advanced bank verification system link to instantly verify your bank information online. If you decide to upload duplicates of your banking accounts, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount, we consider a variety of elements to determine the health of the company as well as the amount of payments your business is able to afford. The amount you receive from your loan will depend on the specifics of your business.
If you apply for a specific amount we consider a variety of factors to determine the health of the business and the amount of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances the business.
If you decide to apply for the company loans, we’ll assess the risk assessment the business and offer you with a customised offer including loan amount, term and the interest rates. This business loan is an upfront cost loan therefore you will know the exact amount payable including any costs, fees, or interest rates.
Business loan interest rates vary due to variables like the amount to be borrowed, the company assets the funds will be used for in addition to the industry that the business operates in, how long the company has been operating for, what percentage of the company has enough cash flow to support the loan, as well as the general health or creditworthiness of the business.
There are no hidden costs for our company loans, and you’ll be aware of the amount you’ll need to pay, and when, right from the very first day. There’s no compounding interest and there are no additional charges (as as you make your payments in time).
We do not charge an application fee. You are able to make an application for loans with with no upfront cost or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of your advance loan at any time.
If you are deciding to do this please call our helpful company loans experts. They will provide you with the details of your repayment and an early payout figure. This is calculated as the total of the principal remaining and the accrued interest up to the time of the early payout in addition to 1.5 percent of the remaining principal and any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from your company account.
Protecting your information, and making it clear the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their security. We employ an exceptionally sophisticated banking verification system to immediately verify your bank account details online to provide quick responses.
The term "asset-based" refers to borrowing where the business owner borrows from assets they own to make a loan. The asset may be an asset belonging to the personal, like the family home, or a business property like a truck or piece of equipment.
The vast majority of lending institutions, including the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan then the asset might be transferred to the lender. In essence it’s means of securing additional financing using the worth of the asset you already own.
Up to $150K in loans there is no requirement for asset security before you can access the money However, we require a personal guarantee. need an individual guarantee. If you adhere to your loan commitments (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be required. If you take out loans in excess of $150K generally, you are able to get a personal guarantee and security is provided in the form of the charge of assets.
