The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Need more funds? Check out the eligibility requirements for our $100K to $500K company loans.
All you need to get started is your contact details (company name, your name, email and telephone), how much you’d like to lend, and your monthly income.
In the course of the process and before settlement we will need confirmation of who you are but not before we can begin:
Additionally after we get started when it comes to loans greater than $150,000 you will also need basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments, which are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and the funds could be in your account in 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. We offer a company loan is a loan that is priced upfront so you will be aware of the amount you will have to pay, including the interest, fees and charges. This is then broken down into either a daily or weekly installment amount.
The Small Business Loan can be used for nearly any business reason, such as managing cash flows, business improvements, advertising for purchasing inventory or new equipment, or 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 over a fixed term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on you cashflow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan in this amount, your company needs to have been operating for at least three years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large company loan can be used for almost any company use, including business improvements, purchasing equipment or inventory for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed for accessing funds over $150,000. This is by way of charge against assets, which could also include the registration of this in the PPSR or making as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is general in nature rather than stipulating security over an asset. The person signing the ensure is personally liable in the event that the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including the assets or goods). The PPSR permits preference over private property assigned depending on the date that a registration of a security interest.
Caveats are legal document that is filed to provide the legal claim against a property.
If you’re applying for an enterprise loan of $250,000 or more, we may offer a preliminary pre-approval to help ease the process. It is possible to do this without a credit check and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves the answer to a series of financial well-being checks. This 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 may receive may be based on different terms.
You are eligible to apply for an business loan if you:
The application process is fast and easy. Simply complete the online form within a few minutes and a dedicated business expert in lending will call you to guide you through the process.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s License), a valid NZBN/IRD as well as at least six months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Application details including credit consent and 12 months of bank statements, IRD statement as well as the two most recent years’ financial statements, in addition to interim current financial year financials, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K and up) we usually offer a response in one hour if you apply within quality company hours and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements , we will be able to provide the decision in just an company day.
For Larger Business Loans ($100K and up) we could be in a position to provide you with a conditional pre-approval in around six hours. After you’ve signed your 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. Certain deals have been approved in just 24 hours.
The quickest way to apply for you to apply is ensure you apply during normal business hours, and permit us to use the advance bank verification to instantly verify your bank information online. If you send us the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide an answer within an hour, provided you apply in normal business hours and you allow us to use the bank verification system to immediately verify your bank account information online. If you opt to send us copies of your bank statement, we’ll offer a decision within an business day.
If you are applying for Larger Business Loans ($100K or more) we may be able to offer the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Certain transactions have received approval in just 24 hours.
The fastest way is to make sure you apply during normal business hours. You can also let us use the modern bank verification to check your bank’s information online. If you choose to upload the copies of bank statements, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a specific amount we look at a variety of variables to determine the well-being of your business and the extent of repayments that your business will be able to support. The amount you receive from your loan will depend on the specific circumstances for your company.
If you apply for a set amount, we consider a variety of aspects to assess the health of your business and the level of repayments that your company can support. The amount you receive from the loan will be determined by the particulars the business.
If you decide to make an application for one of our business loans, we’ll assess the risk assessment of your business and offer an individualised offer, including the loan amount, the terms and the interest rates. A company loan is an upfront cost loan which means you be aware of the total amount due, which includes any charges or interest.
Interest rates for business loans rates depend on a variety of variables like the amount to be borrowed, what business assets the funds will be used for as well as the field the company is operating in, how long the company has been in operation as well as in the event that the company has sufficient cash flow to cover the loan, and overall health and creditworthiness of the company.
There are no hidden costs with our company loans. You’ll be aware of the amount you need to pay, and when, starting from day one. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You are able to request a credit loan with without any upfront costs or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can repay all of your loan at any point in time.
If you decide to pursue this option, please contact our helpful business lending professionals. The specialists will offer you with details for repayment and an early payment figure. This is calculated as the sum of the principal balance plus any accrued interest as of the date of early payout and 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure that you don’t miss due dates and also to be in line your cash flow schedule, we provide repayments either daily or weekly. These are automatically withdrawn from the nominated company account.
Protecting your information, and knowing the ways we gather data, process, exchange and ensure the security of your information is of huge importance and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their privacy. We use an advanced banking verification system to instantly verify your bank account information online. This allows us to offer rapid response.
Asset-based borrowing is when the business owner uses an asset that they own to obtain the funding. The asset can be a personal asset like the family home or a company asset such as a truck or other piece of machinery.
The vast majority of lending institutions, even the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan then your assets could be transferred to the lender. In essence, it’s a way of securing new financing making use of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security before you are able to access the money however, we do require an individual guarantee. In the event that you fulfill your loan obligations (as detailed in your loan contract) Asset security will never be needed. If you take out loans in excess of $150,000 generally, you can get an individual guarantee and security in the form of charges on assets.
