The eligibility requirements for an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K to $500K company financing.
All you need to begin is your contact details (company name, your name, email or phone number) and the amount you’d like to borrow, and your monthly revenue.
During the process and before settlement we will need confirmation of your identity but not to get started:
Additionally after we get started in the process, for loans over $150,000 you’ll also require the following financial statements:
Let’s get started now.
Sydney unsecured loans offers 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.
You can apply to get your Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the money could be available in just 24 hours. Traditional business loans are based on an annual rate of interest together with additional fees and charges. Our company loan is a loan that is priced upfront therefore you’ll be aware in advance of the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into weekly or daily payment amount.
The Small Business Loan can be used for virtually every company use, including managing cash flows, company improvements, advertising to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly to work with your cash flow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the business needs to be operating for at least three years and have an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A large company loan can be used for almost every business need, including business remodeling, buying equipment or inventory as well as for general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary to access funding over $150,000. It is usually in the form of a charge against assets, and may include the registration of this through the PPSR or filing as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is general in nature rather than stipulating the security for a particular asset. The person who signs the ensure is personally responsible if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR grants the priority of personal property assigned according to the date a security interest was registered.
An affidavit is an official document lodged to provide notice of a legal claim on a property.
When you’re applying for larger company loans of more than $250,000 we can offer an initial pre-approval in order to make the process. We might be able to make this decision without a credit check and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes you answering some financial well-being questions. This is not an offer or guarantee of financing. A conditional approval is subject an assessment of your creditworthiness and any offer that you might receive could be subject to different conditions.
You are eligible to apply for a business loan if you
The application process is fast and simple. Just complete the online application in just a few minutes, and a dedicated company loan specialist will call you to guide you.
To apply for up $100,000 you’ll need ID details (valid Driver’s License) and a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent and 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within one hour, provided you submit your request within standard business times and allow us to utilise the bank verification system to instantly verify your bank’s information online. If you choose to send us copies of your bank statements , we are able to provide the decision within an business day.
For the Larger Business Loan ($100K and up) we may be in a position to provide you with conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this can be quicker based on the specifics of each application. Some offers have been approved in less than 24 hours.
The quickest method would be to make sure you apply during normal company hours and allow us to use our advanced bank verification system to instantly verify your bank information online. If you decide to send us documents from your account statements , it will take a little longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour – provided you submit your request during normal business hours and let us utilise the advanced bank verification system link to instantly verify your bank details online. If you want to submit copies of your bank statements we can offer a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be likely to offer you with conditional pre-approval within 6 hours. Once you have signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, it could be faster based on the specifics of each application. Some offers have been approved within just 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours and let us use the advanced bank verification system to instantly confirm your bank details online. If you decide to upload documents from your account accounts, it will take a little longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a certain amount we look at a variety of aspects in order to assess what is the health of the company as well as the amount of the repayments your business is able to afford. The amount you receive from the loan will be determined by the specific circumstances of your company.
When you submit an application for a specific amount we look at a range of aspects to determine the health of your company and the amount of repayments that your business can support. The amount you receive from the loan will be determined by the specifics that are unique to your company.
When you apply for business loans with us company loans, we will assess the risk profile that you have for your business and provide you with a customised offer, including the amount of loan, the term and the interest rates. This business loan is an upfront cost loan therefore you will know in advance the total amount payable including any charges or interest.
The interest rates on company loans rates vary due to factors including the amount of money borrowed, the business assets the money will be used for, the industry the company operates in, how long the business has been operating and how long the company has enough cash flow to fund the loan, and the general health as well as creditworthiness company.
There are no hidden costs for our company loans. You’ll know precisely how much it is that you be required to pay and at what time, from the very first day. There’s no compounding and no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You are able to make an application for loans absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can decide to repay all of your advance loan at any time.
If you are deciding to pursue this option, please speak to our friendly business credit specialists. They’ll offer 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 accrued interest to the time of early payment plus 1.5% of the principal balance and any fees that remain unpaid.
To help you avoid missing repayments and to fit in your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your nominated company account.
The security of your personal information, as well as making it clear the ways we gather data, process, exchange and secure your information, is vital and an integral element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to customer security and security. We employ a highly sophisticated bank verification system that allows you to instantly verify your bank account details online, allowing us to offer an immediate response.
The term "asset-based" refers to borrowing where a company owner borrows from an asset they own to make the funds for a loan. The asset may be a personal asset like the family home or an company asset like a truck or piece of equipment.
The vast majority of lending institutions, including the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan, the asset might be sold by the lender. In essence, it is means of securing new funding using the worth of the asset you already own.
Up to $150,000 in loans it is not necessary to secure assets in advance to gain access to the funds, however we require a personal guarantee. need a personal guarantee. If you adhere to your loan commitments (as specified in the loan contract) Asset security will never be required. For loans over $150,000 generally, there is a personal ensure and security is provided in the form of a charge over assets.
