The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business loans.
All you need to start is your contact details (the name of your company, your name, email or phone number), how much you’d like to lend, and your monthly income.
Through the process and before settlement we will require confirmation of your identity but not to get started:
After we start with loans over $150,000 you’ll also require basic financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply to your Small Business Loan in under 10 minutes over the phone, receive a same day response and funds may be available in just 24 hours. Traditional business loans have an annual interest rate along with other charges and fees. Our company loan is a pre-paid loan which means you know ahead of time the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly payment amount.
It is a Small Business Loan can be used to fulfill almost any business need, such as managing cash flows, company remodeling, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term with a maximum of 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.
A Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large, your business needs to have been in operation for at least 3 years, and have an annual income of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger company loan can be used for almost all company reason, such as company renovations, to purchase equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required for accessing funds over $150,000. It is usually in the form of a charge on assets and can include registration with the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is general in nature rather than stating security over an asset. The person who is signing the guarantee is personally accountable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including the assets or goods). The PPSR gives preference over private property assigned according to the date a security interest has been registered.
Caveats are legal document that is filed to provide the legal claim against a property.
If you’re seeking the Larger Business Loan of more than $250K it is possible to offer an initial pre-approval that will help simplify the process. We might be able to get this done without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial health checks. It is neither an offer nor a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer you might receive could be based on different conditions.
You may be eligible for an business loan if you
The application process is quick and easy. Just complete the online application in few minutes and a dedicated company credit specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s License) and an active 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 consent, 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 bank statement, an IRD statement, last 2 years finalised financial statements, and interim current financial year financials such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually offer an answer within an hour – as long as you submit your request in standard business timings and allow us to utilise the bank verification system link to immediately verify your bank account information online. If you opt to send us copies of your bank statements we can offer an answer in as little as 1 business day.
For the Larger Business Loan ($100K or more) we might be able to provide the conditional pre-approval within 6 hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved in less than 24 hours.
The quickest method is to ensure you apply during standard company hours. You can also let us use the modern bank verification to verify your bank account information online. If you choose to upload copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer a response in one hour, provided you submit your request during normal business hours and let us use the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statement, we’ll provide an answer in as little as an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be able to offer you with conditional pre-approval in about six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some deals have been approved within less than 24 hours.
The fastest way can be make sure you apply during normal business hours. You can also let us use the advanced bank verification system to instantly verify your bank account information online. If you opt to upload copies of your bank statements, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a particular amount, we consider a variety of elements that determine what is the health of the business and the extent of repayments your company can afford. The total amount of the loan will be determined by the particular circumstances of your business.
When you apply for a set amount, we will consider a number of variables to assess your health that is your business as well as the amount of repayments that your company can support. The amount you receive from your loan will be determined by the particulars of your business.
When you apply for one of our business loan, we will assess the risk profile the company and offer you with a tailored offer including the amount of loan, the term and interest rates. The company loan is an upfront cost loan therefore you will be aware of the total amount you will have to pay, including charges or interest.
The interest rates on company loans rates differ based on various factors like the amount of money borrowed, what company assets the money are used to purchase as well as the field the company is operating in, how long the company has been running, whether the company has sufficient cash flow to support the loan, and the overall health or creditworthiness of the company.
There aren’t any hidden charges for our company loans. You’ll know precisely what you need to pay, and when, from the very first day. There’s no compounding interest, and the loan comes with no additional fees (as as long as you pay your payments on time).
We do not charge an application fee. You are able to get a cash loan with without any upfront costs or the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can decide to repay all of your loan at any point in time.
If you are deciding to do this please talk to one of our helpful company loan experts. We will provide you with the details of your repayment as well as an early payout amount. This is calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payment and 1.5% of the principal remaining plus any outstanding fees.
To ensure that you don’t miss repayments and to fit in with your cash flow routine, we provide repayments either weekly or daily. They are automatically deducted from your business account.
Making sure that your information is secure, and knowing how we collect information, use it, and exchange it, as well as ensure the security of your information is of huge importance and a vital part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and privacy. We employ an exceptionally sophisticated bank verification system link to instantly verify your bank account details online so we can offer an immediate response.
An asset-based loan is when a company owner uses assets they own to obtain the loan. The asset can be either a personal asset like the family home or an business asset such as a vehicle or piece or equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to secure loans against assets. If you are having difficulty paying back the loan then the asset could be sold by the lender. In essence, it’s means of securing additional financing using the worth of the asset you already own.
For loans of up to $150K, the requirement for asset security is not required before you are able to access the money However, we require a personal guarantee. require a personal guarantee. So long as you comply with your loan commitments (as specified in the loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150K generally, you can get an individual guarantee and security that is in the form the charge of assets.
