The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Do you require more money? Check out the conditions of eligibility for our $100K to $500K company loans.
All you need to start is your contact information (the name of your company, your name, email or phone number) and the amount you’d like to lend, and your monthly earnings.
While in the process and before settlement we’ll need confirmation of your identity, but not for starting:
Additionally after we get started with loans over $150,000 you will also need fundamental 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 that are either per day or weekly.
It is imaginable to apply to this Small Business Loan in under 10 minutes by phone. You will receive a same day response and have the funds in your account in 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. The business loan is an upfront priced loan so you will know in advance the total amount due, which includes any fees, interest or charges. This is then divided into a daily or weekly installment amount.
The Small Business Loan can be used for almost every business purpose including managing cash flows, company remodels and marketing to purchase inventory or new equipment, for general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large the business needs to have been operating for at least three years, and have an annual income of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Business Loan of a larger size is a great option for almost all company purpose including company improvements, purchasing equipment or inventory, as general working capital, and much more. The loan is not available for personal use.
Asset security is required for accessing funds over $150,000. It is usually by way of charge against assets, and may include registering this with the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is generally in nature rather than stating security over an asset. The person who is signing the ensure is personally accountable if the company lender is not able to re-pay the debt.
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 the assets or goods). The PPSR permits the priority of personal property granted according to the date a security interest has been registered.
An affidavit is an official document lodged to offer an official notice of a claim on a property.
If you’re requesting a Larger Business Loan that is greater than $250K it is possible to offer a preliminary pre-approval to help simplify the process. We may be able 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 health questions. This is in no way an offer, nor is it a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could be on different terms.
You can apply for a business loan if you
The application process is simple and easy. Complete the online form within a couple minutes, and a dedicated business credit specialist will be in touch to help you.
For a loan of up to $100,000 you’ll require ID details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent twelve months bank statement, an IRD statements, last 2 years finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) we can often provide an answer within an hour – as long as you make your application in quality business times and let us make use of the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements we can provide an answer within the span of one company day.
For Larger Business Loans ($100K or more) we may be in a position to offer you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based on the specifics of each application. Some agreements have been approved within the space of 24 hours.
The fastest way can be ensure you apply during normal company hours. Also, allow us to use the advanced bank verification system to verify your bank information online. If you decide to upload duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within an hour – provided you apply during standard business timings and let us use the bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements, we are able to provide a decision in just one business day.
For Larger Business Loans ($100K and up) We may be in a position to offer the conditional pre-approval within about six hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval in 24 hours.
The most effective method would be to ensure you apply during standard business hours. You can also allow us to use our sophisticated bank verification link to instantly verify your bank information online. If you opt to upload duplicates of your banking accounts, it will take a little longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount we consider a variety of factors that determine your health of your business and the extent of payments your company will be able to support. The total amount of your loan will be contingent on the particular circumstances of your business.
When you make an application for a particular amount, we look at a range of aspects to assess how much we can lend you such as health of the company and the amount of repayments that your company can support. The amount you receive from your loan will be contingent on the specifics for your business.
When you make an application for the business loans, we’ll assess the risk profile that you have for your business and offer you with a customised proposal that includes loan amount, term and interest rates. The business loan is an upfront-priced loan so you will be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of factors including the amount that is borrowed, what business assets the funds are used to purchase in addition to the industry that the company operates in, how long the company is in operation for, whether the business has sufficient cash flow to pay for the loan, and the general well-being and creditworthiness of the company.
There are no hidden costs with our business loans. You’ll know precisely what you need to pay and at what time, from the day you sign up. There’s no compounding interest and no extra 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 no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated in establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of your loan early at any time.
If you decide to pursue this option, please speak to our friendly company loans professionals. They’ll offer you with details for repayment as well as an early payout amount. The figure will be calculated as the sum of the principal balance and accrued interest to the date of early payout and 1.5 percent of the principal balance as well as any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow routine, we provide payments that are either weekly or daily. These are automatically withdrawn from your nominated business account.
Security of your data, and knowing how we collect data, process, exchange and ensure the security of your information is of huge importance and a vital part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our clients and security. We use an advanced bank verification system that allows you to instantly verify your bank account details online, allowing us to provide quick responses.
An asset-based loan is when an company owner utilises assets they own to make a loan. The asset can be either a personal asset like the family home or an company asset such as a vehicle or piece of equipment.
The majority of lenders, including the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan then the asset could be offered for sale by the lender. In essence it’s the process of securing new financing using the worth of the asset you already own.
For loans that exceed $150,000, there is no requirement for asset security prior to the loan’s access, however we do need an individual guarantee. As long as you follow the terms of your loan (as detailed in your loan contract) Asset security is not required. For loans over $150,000 generally there is personal guarantee and security that is in the form charges on assets.
