The requirements for getting an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Find out the conditions of eligibility for our $100K to $500K company loans.
All that is needed to get started is your contact details (the name of your company, your name, email and telephone) and the amount you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
Once we’ve started in the process, for loans that exceed $150,000, you will also need the following financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
You can apply to get the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an instant response and the funds could be on your account within 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. Our business loan is a pre-paid loan which means you know ahead of time the amount you will have to pay, including the interest, fees and charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for virtually every company reason, such as control of cash flow company improvements, advertising to purchase inventory or new equipment, or as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
To qualify for a loan that is this large the business needs to be trading for at least 3 years with an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost any business use, including business renovations, to purchase new equipment or inventory as well as for 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’s in the form of a charge on assets, and could be registered with the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee to pay off a credit line that is generally based rather than specifying the security for a particular asset. The person signing the guarantee is personally responsible if the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including objects or assets). The PPSR grants preference over private property granted in accordance with the date on which a security interest has been registered.
Caveats are legal document lodged to offer notice of a legal claim on a property.
If you’re applying for larger business loans that is greater than $250,000 we can offer an initial pre-approval in order to simplify the process. We may be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves the answer to a series of financial health checks. It is not an offer of credit or guarantee of finance. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be subject to different conditions.
You may apply for a company loan if you:
The application process is fast and easy. Just fill out the online application within a few minutes and an experienced business lending specialist will call you to guide you through the process.
To apply for up to $100,000, you’ll need ID details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent and 12 months of bank records, IRD statements, last 2 years finalised financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K or more) we usually provide an answer within an hour, provided you apply within standard business timings and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements , we’ll be able to offer an answer in just the span of one company day.
For Larger Business Loans ($100K and up) we may be in a position to provide you with a conditional pre-approval in around six hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Certain deals have been approved within less than 24 hours.
The quickest method would be to ensure you apply during standard business hours. You can also allow us to use our advance bank verification to check your bank’s information online. If you opt to send us copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer within one hour – as long as you apply within standard business time and let us use the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statement, we’ll provide an answer within 1 business day.
For the Larger Business Loans ($100K and up) We may be likely to provide you with conditional pre-approval within six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the particular circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The fastest method would be to ensure you apply during standard business hours. You can also permit us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload documents from your account accounts, it can take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a specific amount we take into consideration a range of elements in order to assess your health that is your business and the extent of the repayments your business can afford. The amount you receive from your loan will depend on the particular circumstances of your business.
When you submit an application for a particular amount, we consider a variety of factors to determine how much we can lend you such as well-being of your company as well as the amount of the repayments your business can afford. The total amount of your loan will depend on the specifics that are unique to your business.
When you apply for one of our company loan, we’ll assess the risk assessment of your company and provide you with a tailored proposal that includes the loan amount, the terms and the interest rates. The company loan is an upfront cost loan therefore you will know in advance the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors including the amount of money borrowed, the company assets the funds will be used for in addition to the industry that the company is in, how long the business has been running for, what percentage of the business has enough cash flow to cover the loan, as well as the general health or financial standing of the company.
There are no hidden fees with our company loans. You’ll be aware of the amount it is that you be required to pay, and when, from the first day. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You can make an application for loans no cost upfront or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of 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 choose to repay the entire amount of your loan in full at any time.
If you are deciding to do this please talk to one of our helpful company loan experts. They’ll provide you with repayment details as well as an early payout amount. The figure will be calculated as the total of the remaining principal amount and the accrued interest up to the time of early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either weekly or daily. These are automatically withdrawn from your designated business account.
Protecting your information, and being transparent about how we collect, use, exchange and secure your information, is of paramount importance and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to security for our customers and security. We utilise a sophisticated bank verification system to immediately verify the bank account details online so we can provide rapid response.
Asset-based borrowing occurs when a company owner utilises an asset they own to secure the funding. The asset can be a personal asset like the family home or an business asset such as a vehicle as well as a piece of machine.
The majority of the lenders not just the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, then your assets could be taken over by the lender. In essence, it is the process of securing additional financing using the worth of the asset you already have.
For loans that exceed $150,000, the requirement for asset security is not required upfront to access the money, however we require a personal guarantee. need an individual guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract) Asset security will never be required. For loans of over $150,000 typically, you will need a personal guarantee and security that is in the form the charge of assets.
