The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K business loans.
All you need to start is your contact details (the name of your company, your name, email, phone) and the amount you want to borrow, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of your identity but not before we can begin:
After we start with loans of more than $150,000 you’ll also need basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
The application to the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an instant response and have the funds in your account within 24 hours. Traditional business loans are based on an interest rate per annum along with other charges and fees. The business loan is a loan that is priced upfront so you will be aware in advance of the amount you will have to pay, including the interest, fees and charges. Then, it is divided into weekly or daily installment amount.
A Small Business Loan can be used for virtually every company purpose including cash flow management, company remodeling, marketing for purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
In order to be eligible for a loan in this amount, your business needs to be in operation for at least 3 years with an annual turnover of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large company loan is a great option for almost every business need, including business renovations, to purchase inventory or new equipment as well as for general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. This is by taking a charge over assets, which could also be registered on the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally based rather than specifying security over a particular asset. The person signing the guarantee is personally responsible if the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including items or assets). The PPSR allows preference over private property assigned depending on the date that a registration of a security interest.
Caveats are legal document filed to provide an official notice of a claim on a property.
If you’re seeking larger company loans of more than $250,000 it is possible to offer a preliminary pre-approval to help simplify the process. We may be able to apply for this without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial well-being checks. It is not an offer or guarantee of funds. A conditional approval is subject a full credit assessment and any offer you are offered could be on different conditions.
You may be eligible for an company loan if you:
The process for applying is fast and simple. Simply complete the online form within a couple minutes, and a dedicated business expert in lending will contact you to help you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, as well as interim current financial year financials, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we typically offer a response in one hour, provided you apply during quality company hours and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can provide the decision within just one business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of provide the conditional pre-approval in about 6 hours. After you’ve signed your 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 offers have been approved in 24 hours.
The fastest way for you to apply is make sure you apply during standard company hours and allow us to use the modern bank verification link to confirm your bank details online. If you decide to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within one hour – as long as you apply within normal business times and let us make use of the advanced bank verification system to instantly verify your bank’s information online. If you choose to send us copies of your bank statements we can offer an answer within 1 business day.
For the Larger Business Loans ($100K and up) we could be in a position to offer you with a conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours, and allow us to use the modern bank verification link to confirm your bank details online. If you send us the copies of bank accounts, it will take a little longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a particular amount, we consider a variety of aspects to determine your health of your business and the level of the repayments your business can support. The total amount of the loan will be determined by the particular circumstances the business.
When you submit an application for a certain amount, we will consider a number of aspects to assess how much we can lend you such as well-being for your company and the level of repayments that your company will be able to support. The total amount of your loan will be contingent on the specific circumstances of your business.
If you decide to request our business loan, we will assess the risk profile of your company and offer you with a tailored offer, including the amount of the loan, the duration and interest rates. It is a business loan is an upfront cost loan therefore you will be aware in advance of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for company loans rates depend on several variables like the amount to be that is borrowed, what business assets the money will be used for, the industry the company is operating in, how long the company has been operating as well as in the event that the company has sufficient cash flow to fund the loan, as well as the overall well-being and creditworthiness of the business.
There are no hidden costs with our company loans, and you’ll know exactly how much you need to pay, and when, from the first day. There’s no compounding interest and there are no additional charges (as as long as you pay your payments in time).
We don’t charge an application fee. You are able to make an application for loans with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You may choose to pay back all of your loan at any point in time.
If you do decide to do this please talk to one of our helpful business loans specialists. They will offer you with details for repayment along with an early payout estimate. This will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of the early payout plus 1.5 percent of the remaining principal plus any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow general, we offer repayments either daily or weekly. These are automatically withdrawn from your nominated company account.
The security of your personal information, as well as being upfront about how we collect, use, exchange and secure your information, is of paramount importance and is an essential element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to security for our customers and security. We utilise a sophisticated bank verification system to instantly verify your bank account details online. This allows us to offer a fast response.
Asset-based borrowing is when the company owner utilises an asset that they own to get a loan. The asset can be an individual property, such as the family home, or it could be a company asset like a truck or other piece of machinery.
The majority of lending institutions, even the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan, then your assets could be sold by the lender. In essence, it is an opportunity to secure new funding using the worth of the asset you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds, however we require a personal guarantee. need a personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract document) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150,000 generally, there is a personal ensure and security is provided in the form of a charge over assets.
