The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K company credit.
All that’s required to start is your contact details (the name of your company, your name, email, phone) as well as the amount you’d like to lend, and your monthly revenue.
Through the process and before settlement we will require confirmation of your identity, but not to get started:
In addition, once we have started in the process, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
The application to get the Small Business Loan in under 10 minutes online or by phone. You will receive an answer within the same day and the funds could be on your account within 24 hours. Traditional business loans have an interest rate per annum as well as other fees and charges. Our business loan is a pre-paid loan so you will be aware of the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for almost every company reason, such as cash flow management, company improvements, advertising, to purchase inventory or new equipment, to fund general working capital and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To qualify for a loan in this amount, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger business loan can be used to fund almost any business use, including company improvements, purchasing equipment or inventory or as general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. This is by way of charge on assets, which could also include registration through the PPSR or filing a caveat.
A director’s or personal ensure is a commitment to pay off a credit line that is generally based rather than stating security over an asset. The person who signs the ensure is personally liable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR grants priority over personal property to be granted according to the date the security interest was registered.
A caveat is a legal document that is filed to offer the public notice of a legal claim against a property.
When you’re applying for the Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval to make the process. We might be able to do this without a credit check, and within six hours of your initial application. This pre-approval is based on an initial assessment that includes you answering a few financial well-being checks. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer that you receive could be based on different conditions.
You may apply for a business loan if you;
The application process is fast and easy. Just fill out the online application in just a few minutes, and an experienced business loan specialist will be in touch to guide you through the process.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details for application including credit consent, 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, as well as interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K to $100K) we typically provide an answer within one hour if you submit your request within standard business timings and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statement, we’ll provide an answer within just an company day.
For the Larger Business Loan ($100K up to $500,000) we might be in a position to provide you with a conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some offers have been approved within the space of 24 hours.
The fastest way would be to ensure you apply during normal company hours. Also, let us use the advanced bank verification system to check your bank’s information online. If you decide to send us documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K or more) we typically offer a response in one hour – provided you submit your request in standard business times and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements, we will be able to offer a decision in just an business day.
If you are applying for Larger Business Loans ($100K and up) We may be capable of provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be faster depending on the specifics of each application. Some agreements have been approved in just 24 hours.
The fastest method would be to make sure you apply during standard business hours. Also, permit us to use the modern bank verification to instantly check your bank’s information online. If you send us duplicates of your banking statements, it can take a bit longer.
We provide loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we take into consideration a range of aspects in order to assess how much we can lend you well-being for your company and the extent of repayments that your business will be able to support. The total amount of the loan will be determined by the particular circumstances of your business.
When you make an application for a certain amount, we take into consideration a variety of elements to determine how much we can lend you such as health for your business as well as the amount of repayments that your company will be able to support. The amount you receive from your loan will be determined by the particular circumstances for your company.
When you make an application for our company financing, we will assess the risk profile for your business and provide an individualised offer including the amount of the loan, the duration and interest rates. This company loan is a loan that is priced upfront therefore you will know the exact amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates vary due to factors including the amount of money borrowed, the company assets the money are used to purchase as well as the field the business is in, how long the company has been in operation and whether the business has sufficient cash flow to cover the loan, and also the general well-being and creditworthiness of the business.
There are no hidden costs for our company loans, and you’ll know precisely what you’ll need to pay and at what time, from the day you sign up. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an Application Fee. You are able to apply for a loan no cost upfront or the obligation to take action.
The Origination Fee covers the expenses involved with establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can choose to repay the entire amount of the loan in full at any time.
If you decide to take this route, please call our helpful company credit specialists. They will provide you with the details of your repayment and an early payment figure. It will be calculated using the total of the remaining principal amount and the accrued interest up to the date of early payout plus 1.5% of the principal balance and any fees that remain unpaid.
To ensure that you don’t miss due dates and also to be in line with your cash flow standard, we offer repayments that are either daily or weekly. They will be automatically deducted from the nominated company account.
Security of your data, and knowing how we collect data, process, exchange and secure your information, is of huge importance and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We make use of an advanced banking verification system to instantly verify your bank account information online to provide a fast response.
Asset-based borrowing is when a company owner utilises an asset that they own to obtain the funds for a loan. The asset may be an asset belonging to the personal, like the family home or an company asset like a truck or piece of equipment.
The vast majority of the lenders not just the big banks, tend to guarantee loans against assets. If you’re having trouble paying back the loan, your assets could be taken over by the lender. In essence it is a way of securing new funding making use of the value of what you already own.
For loans up to $150,000 there is no requirement for asset security in advance to gain access to the funds However, we do need a personal guarantee. In the event that you fulfill your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security is not needed. For loans that exceed $150K, generally, there is an individual guarantee and security in the form the charge of assets.
