The requirements for obtaining an unsecured business loan in Sydney of between $5K to $100K are quite minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K company loans.
All that’s needed to start is your contact details (company name, your name, email and telephone) as well as the amount you want to borrow, and your monthly income.
Through the process and before settlement we will require confirmation of who you are but not before we can begin:
After we start when it comes to loans that exceed $150,000, you will also require fundamental financial statements:
Let’s get started now.
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.
The application for the Small Business Loan in under 10 minutes online or by phone. You will receive a same day response and the money could be on your account within 24 hours. Traditional business loans have an interest rate per annum plus other fees and charges. This business loan is a loan that is priced upfront therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. This is then broken down into weekly or daily repayment figure.
It is a Small Business Loan can be used for almost any company reason, such as the management of cash flow, business remodels and marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the amount of the loan.
To qualify for a loan of this size, your company needs to have been operating for at least three years and have an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Business Loan of a larger size is a great option for almost all business purpose including company renovations, to purchase new 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. It is usually as a result of an charge on assets and can include registering this on the PPSR or the registration of a caveat.
A personal or director’s ensure is a promise to repay credit that is general in nature, rather than specifying the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR grants prioritisation over property that is personal to be granted in accordance with the date on which a security interest has been registered.
A caveat is a legal document filed to provide an official notice of a claim on a property.
If you’re requesting a Larger Business Loan that is greater than $250,000 we can offer an initial pre-approval to ease the process. We may be able to do this without credit checks and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial health questions. It’s not an offer of credit or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you receive could have different conditions.
You may be eligible for a business loan if you;
The application process is simple and easy. Complete the online form in few minutes and a dedicated business lending specialist will be in touch to guide you.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K – $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: Application details including credit consent as well as 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K to $100K) we can often provide an answer within an hour, provided you apply in quality company hours and permit us to utilise the advanced bank verification system link to instantly verify your bank information online. If you decide to submit copies of your bank statements , we are able to provide a decision within the span of one company day.
If you are applying for a Larger Business Loan ($100K or more) we may be in a position to offer you with conditional pre-approval in about six hours. Once you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this can be quicker based on the specifics of each application. Certain offers have been approved in the space of 24 hours.
The quickest way to apply can be make sure you apply during standard business hours. You can also permit us to use the advanced bank verification system link to confirm your bank details online. If you choose to send us the copies of bank statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within an hour if you apply at normal business hours and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statement, we’ll offer a decision within the span of one business day.
For Larger Business Loans ($100K or more) we could be capable of offer you with conditional pre-approval in around six hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this may be quicker depending on the particular circumstances of each application. Some offers have been approved in 24 hours.
The fastest method for you to apply is make sure you apply during normal business hours. You can also allow us to use the sophisticated bank verification link to check your bank’s information online. If you decide to send us the copies of bank statements it may take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a specific amount we take into consideration a range of factors to determine the well-being of the business and the extent of payments your business can support. The total amount of your loan will be contingent on the particular circumstances for your company.
When you apply for a set amount, we take into consideration a variety of aspects to assess how much we can lend you such as health for your company and the level of payments your company can afford. The total amount of your loan will be contingent on the specifics for your company.
If you decide to apply for the company financing, we’ll assess the risk assessment for your company and provide an individualised offer including the amount of loan, the term and interest rates. It is a business loan is a loan that is priced upfront which means you know in advance the total amount you will have to pay, including charges or interest.
The interest rates on company loans rates depend on a variety of variables like the amount to be of money borrowed, the business assets the funds will be used for, the industry the business operates in, the long the company has been operating and in the event that the business has enough cash flow to pay for the loan, and also the general well-being and creditworthiness of the business.
There are no hidden costs for our business loans. You’ll know precisely what you’ll be required to pay, and when, starting from day one. There’s no compounding interest and no extra fees (as as you make your payments in time).
We do not charge an Application Fee. You are able to make an application for loans with no cost upfront or the obligation to take action.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you do decide to do this please contact our helpful company lending professionals. We will provide you with the details of your repayment and an early payment figure. It will be calculated using the total of the principal amount remaining and accrued interest to the time of early payout and 1.5% of the principal remaining plus any outstanding fees.
To make sure that you don’t miss payments and to work with your cash flow general, we provide payments that are either weekly or daily. These are automatically deducted from your nominated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and protect your information, is of huge importance and is an essential aspect of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We use an advanced banking verification system to instantly verify the bank account details online. This allows us to offer a fast response.
An asset-based loan is when an company owner utilises an asset they own to obtain a loan. The asset can be either an individual asset, such as the family home, or it could be a business asset such as a truck or piece or equipment.
The vast majority of lenders, even the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan, then the asset could be transferred to the lender. In essence, it is a way of securing new financing by making use of the value of what you already own.
Up to $150K in loans the requirement for asset security is not required prior to the loan’s access however, we do require an individual guarantee. As long as you follow the loan terms (as detailed in the loan contract) Asset security will never be needed. If you take out loans in excess of $150K typically, you will need personal guarantee and security that is in the form charges on assets.
