The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Do you need more money? Check out the conditions of eligibility for our $100K to $500K business loan.
All that’s needed to start is your contact details (company name, your name, email or phone number) and the amount you’d like to borrow as well as your monthly income.
During the process and before settlement we will need confirmation of who you are but not before we can begin:
In addition, once we have started, for loans greater than $150,000 you’ll require basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
You can apply to this Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional business loans are based on an annual interest rate as well as other fees and charges. The company loan is an upfront priced loan so you will know in advance the total amount to be paid, including any fees, interest or charges. Then, it is broken down into weekly or daily repayment figure.
The Small Business Loan can be used to fulfill almost every business reason, such as control of cash flow company remodels and marketing, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size the company needs to have been operating for a minimum of 3 years, and have an annual income of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger company loan can be used for almost any company purpose including business remodeling, buying inventory or new equipment for general working capital and much more. The loan is not available for personal use.
Asset security is required for funding of more than $150,000. This is by way of charge over assets, which could also be registered through the PPSR or filing a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is general in nature, rather than defining security over an asset. The person signing the guarantee is personally liable in the event that the business creditor 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 lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR permits preference over private property granted depending on the date that a registration of a security interest.
A caveat is a legal document filed to offer the public notice of a legal claim against a property.
If you’re seeking a Larger Business Loan of more than $250,000 it’s possible to offer a preliminary pre-approval to help smooth out the process. We might be able to do this without a credit verification and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves you answering a few financial well-being questions. It’s not an offer of credit or guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you might receive could have different conditions.
You may be eligible for an company loan if you:
The process for applying is fast and simple. Just fill out the online application in few minutes and a dedicated company expert in lending will contact you to help you.
For a loan of up to $100,000, you’ll need ID details (valid Driver’s Licence) and a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent and 12 months of bank records, IRD statements as well as the two most recent years’ financial statements, as well as interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we usually provide an answer in just one hour, provided you submit your request in standard company hours and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you opt to send us copies of your bank statements , we are able to provide the decision in just 1 business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be in a position to offer the conditional pre-approval in around six hours. After you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Certain agreements have been approved within just 24 hours.
The fastest way is to ensure you apply during normal company hours. You can also let us use the modern bank verification to instantly verify your bank information online. If you decide to upload the copies of 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 – provided you make your application within normal business times and allow us to use the bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements, we are able to offer the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K and up) we could be likely to provide the conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some agreements have been approved within less than 24 hours.
The most effective method can be ensure you apply during normal business hours. Also, allow us to use the advanced bank verification system link to check your bank’s information online. If you choose to send us copies of your bank statement, it will take a little longer.
We provide loans that range from $5,000 to $500,000. If you apply for a particular amount, we consider a variety of factors for determining what is the well-being for your company and the level of the repayments your company can afford. The amount you receive from your loan will depend on the particular circumstances of your company.
When you submit an application for a certain amount, we take into consideration a variety of variables to assess your well-being of your company and the amount of repayments that your company is able to afford. The total amount of your loan will depend on the particulars that are unique to your company.
If you decide to make an application for the company loans, we’ll assess the risk profile for your business and offer an individualised proposal that includes the loan amount, the terms and the interest rates. This company loan is a loan that is priced upfront and you’ll be aware of the total amount you will have to pay, including charges, interest rates or fees.
The interest rates on business loans rates depend on a variety of factors like the amount of money borrowed, what business assets the money are used to purchase and the sector the company operates in, the long the company has been running and how long the business has sufficient cash flow to support the loan, and also the general health or financial standing of the company.
There aren’t any hidden charges for our business loans, and you’ll know precisely how much you’ll be required to pay and at what time, from the first day. There’s no compounding interest and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an Application Fee. You can get a cash loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the total amount of your loan early at any time.
If you decide to do this please talk to one of our helpful company credit professionals. The professionals will provide you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the principal amount remaining and the accrued interest up to the date of early payout and 1.5 percent of the principal remaining and any fees that remain unpaid.
To make sure you do not miss payments and to work with your cash flow cycle we offer repayments either weekly or daily. They will be automatically deducted from your company account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and ensure the security of your information is of huge importance and an integral part of our relationship you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to security for our customers and security. We make use of an advanced bank verification system link to immediately confirm your bank account information online so we can provide quick responses.
The term "asset-based" refers to borrowing where a company owner borrows from an asset that they own to obtain the funds for a loan. The asset could be an asset belonging to the personal, like the family home, or an business asset such as a truck or piece of equipment.
The vast majority of lenders, including the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan, the asset could be offered for sale by the lender. In essence, it is an opportunity to secure additional financing taking advantage of the value of what you already have.
Up to $150K in loans it is not necessary to secure assets upfront to access the money however, we do require an individual guarantee. In the event that you fulfill your loan commitments (as specified in the loan contract) Asset security is not required. For loans that exceed $150K, generally there is personal ensure and security in the form of a charge over assets.
