The requirements for getting an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Find out the conditions of eligibility for our $100K to $500K company loans.
All that is needed to begin is your contact information (company name and your name, as well as email, phone), how much you’d like to lend, and your monthly income.
During the process and before settlement we will require confirmation of your identity but not to get started:
After we start with loans greater than $150,000 you’ll require fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes online or over the phone, receive an instant response and have the funds in your account within 24 hours. Traditional company loans are based on an annual interest rate plus other fees and charges. We offer a business loan is a pre-paid loan so you will know in advance the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used for nearly every business use, including managing cash flows, business improvements, advertising to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly to work with your situation.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan in this amount the company needs to be operating for a minimum of 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large company loan can be used for nearly any business reason, such as company renovations, to purchase equipment or inventory as well as for general working capital, and much more. The loan is not available for personal reasons.
Asset security is required to access funding over $150,000. It is usually in the form of a charge against assets, and could include the registration of this through the PPSR or filing as a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is generally in nature rather than specifying the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the company borrower 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 contains security interests which are registered with respect to personal property (including the assets or goods). The PPSR allows priority over personal property to be granted depending on the date that a security interest has been registered.
A caveat is a legal document lodged to provide notice of a legal claim on a property.
If you’re seeking the Larger Business Loan of $250,000 or more we can offer an initial pre-approval that will help make the process. We may be able to make this decision without credit checks and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial health questions. It is in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer you are offered could have different conditions.
You are eligible to apply for an business loan if you
The application process is fast and simple. Simply complete the online form in few minutes and an experienced company loan specialist will call you to guide you through the process.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent twelve months bank statement, an IRD statement as well as the two most recent years’ financial statements, as well as interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour if you apply at standard business timings and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your bank statement, we’ll offer the decision in as little as one company day.
If you are applying for a Larger Business Loan ($100K or more) we might be able to offer you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Some agreements have been approved in 24 hours.
The most effective method would be to ensure you apply during standard business hours, and permit us to use the modern bank verification link to instantly check your bank’s information online. If you send us documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide a response in one hour – as long as you make your application at standard business hours and let us use the bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements we can provide an answer in just 1 business day.
For Larger Business Loans ($100K and up) we might be in a position to provide the conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this can be faster depending upon the circumstances for each application. Certain offers have been approved in 24 hours.
The quickest method can be ensure you apply during standard business hours. You can also let us use the sophisticated bank verification link to verify your bank information online. If you upload copies of your bank statements, it may take 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 aspects for determining how much we can lend you health of the company and the extent of repayments that your business can support. The total amount of your loan will be contingent on the specific circumstances the company.
When you apply for a certain amount, we will consider a number of elements to determine your well-being of your business and the extent of the repayments your company will be able to support. The total amount of your loan will be contingent on the particulars that are unique to your business.
When you request our business loans, we will assess the risk profile the company and offer you with a customised proposal that includes the amount of the loan, the duration and the interest rates. A company loan is a loan that is priced upfront so you will be aware of the total amount you will have to pay, including interest rates, fees or charges.
The interest rates on business loans rates depend on several factors like the amount of money that is borrowed, what company assets the money are used to purchase as well as the field the business is operating in, how long the company has been operating and how long the company has enough cash flow to cover the loan, as well as the general health or creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll be aware of the amount you’ll need to pay and at what time, from the first day. There’s no compounding interest, and no extra fees (as long as you make your payments punctually).
We don’t charge an Application Fee. You can make an application for loans without any upfront costs or the obligation to take action.
The Origination Fee includes the expenses associated in establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay all of your loan early at any time.
If you choose to do this please contact our helpful company lending specialists. We will offer you with details for repayment along with an early payout estimate. It will be calculated using the total of the principal amount remaining plus any accrued interest as of the date of early payout in addition to 1.5 percent of the principal remaining as well as any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we provide payments that are either daily or weekly. These are automatically deducted from the nominated company account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and protect your information, is of paramount importance and a vital part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system link to immediately verify the bank account details online so we can offer an immediate response.
The term "asset-based" refers to borrowing where an company owner borrows from an asset they own to obtain the funds for a loan. The asset can be an asset belonging to the personal, like the family home, or an business property like a truck or piece or equipment.
The vast majority of banks, even the major banks, prefer to secure loans against an asset. If you’re struggling to pay back the loan, then the asset might be transferred to the lender. In essence, it’s the process of securing new financing taking advantage of the value of what you already have.
For loans up to $150K it is not necessary to secure assets in advance to gain access to the funds However, we do require a personal guarantee. So long as you comply with the terms of your loan (as specified in the loan contract) the security of assets will never be required. For loans of over $150,000 typically, you will need a personal guarantee and security is provided in the form of charges on assets.
