The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K company loans.
All that’s required to start is your contact information (company name, your name, email and phone), how much you’d like to lend, and your monthly revenue.
Through the process and before settlement we’ll require confirmation of who you are, but not for starting:
After we start, for loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
Apply to get this Small Business Loan in under 10 minutes online or on the phone. You’ll receive a same day response and have the funds available in just 24 hours. Traditional business loans reference an annual rate of interest along with other charges and fees. Our company loan is a loan that is priced upfront which means you be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then broken down into either weekly or daily installment amount.
It is a Small Business Loan can be used to fulfill almost any business need, such as control of cash flow company renovations, marketing, to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
In order to be eligible for a loan in this amount the company needs to have been operating for at least three years and have an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A Business Loan of a larger size can be used for almost all company use, including company improvements, purchasing inventory or new equipment for general working capital and so much more. The loan is not available for personal reasons.
Asset security is required for accessing funds over $150,000. This can be done in the form of a charge on assets and can include the registration of this with the PPSR or making a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than stipulating the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including goods or assets). The PPSR gives priority over personal property to be granted depending on the date that a security interest that is registered.
An affidavit is an official form of document to provide the public notice of a legal claim on a property.
When you’re applying for an enterprise loan that is greater than $250K we can offer a preliminary pre-approval to help smooth out the process. We may be able to do this without credit checks and within six hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial health checks. It’s not an offer or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you receive could be based on different terms.
You may apply for a business loan if you;
The application process is quick and easy. Just fill out the online application within a couple minutes, and a dedicated company loan specialist will contact you to guide you through the process.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent and 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K or more) we can often provide an answer in just one hour – as long as you apply within quality business timings and let us utilise the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your bank statements we can offer a decision within 1 business day.
For the Larger Business Loan ($100K or more) we might be likely to offer you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be quicker based on the particular circumstances of each application. Certain deals have been approved within just 24 hours.
The most efficient method would be to make sure you apply during normal business hours. You can also let us use the advanced bank verification system link to verify your bank account information online. If you send us duplicates of your banking accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer a response in one hour – as long as you apply at normal business time and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statement, we’ll provide a decision in just an business day.
For the Larger Business Loans ($100K to $500K) we could be in a position to provide you with a conditional pre-approval in about six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Certain transactions have received approval in less than 24 hours.
The fastest method for you to apply is make sure you apply during standard business hours and let us use the advance bank verification link to confirm your bank details online. If you choose to send us documents from your account accounts, it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a certain amount, we look at a variety of elements for determining what is the health of your business and the extent of payments your business can afford. The total amount of the loan will be determined by the particular circumstances for your company.
If you apply for a specific amount we will consider a number of factors to determine how much we can lend you such as well-being of the business as well as the amount of repayments your business is able to afford. The total amount of your loan will depend on the specifics of your company.
If you decide to request the business loan, we’ll assess the risk profile of your business and offer you with a customised offer, including loan amount, term and interest rates. This business loan is an upfront-priced loan so you will know the exact amount payable including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors including the amount that is borrowed, what business assets the money will be used for in addition to the industry that the company operates in, how long the business has been in operation, whether the business has sufficient cash flow to pay for the loan, and general well-being as well as creditworthiness company.
There aren’t any hidden costs for our company loans, and you’ll know exactly how much you’ll be required to pay, and when, starting from the very first day. There’s no compounding interest, and no additional fees (as long as you are able to make your payments punctually).
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 is the cost associated with setting up and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can choose to repay the total amount of your advance loan at any time.
If you choose to pursue this option, please call our helpful business loan specialists. They’ll provide you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the principal balance and accrued interest to the time of early payout, plus 1.5% of the principal remaining as well as any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either daily or weekly. They are automatically deducted from your designated company account.
Security of your data, and making it clear how we collect, use, exchange and safeguard your data, is vital and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to customer security and privacy. We utilise a sophisticated banking verification system to instantly verify your bank account information online. This allows us to provide quick responses.
An asset-based loan is when an business owner uses an asset they own to make the funds for a loan. The asset may be an asset belonging to the personal, like the family home or a business asset such as a vehicle or piece or equipment.
The majority of banks, including the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, your asset may be offered for sale by the lender. In essence it’s the process of securing new financing making use of the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets before you are able to access the money, however we do need an individual guarantee. So long as you comply with the terms of your loan (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans of over $150,000 generally, you are able to get an individual ensure and security in the form charges on assets.
