The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Find out the conditions of eligibility for our $100K to $500K company loan.
All that is needed for starting is your contact details (company name and your name, as well as email or phone number) along with the amount you’d like to lend, and your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not for starting:
Once we’ve started in the process, for loans over $150,000 you’ll also require basic financial statements.
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply for the Small Business Loan in under 10 minutes over the phone, receive an instant response and the funds could be in your account within 24 hours. Traditional business loans reference an annual rate of interest together with additional fees and charges. Our business loan is a loan that is priced upfront so you will be aware in advance of the total amount due, which includes the interest, fees and charges. Then, it is broken down into a daily or weekly installment amount.
A Small Business Loan can be used for nearly every company use, including the management of cash flow, business remodeling, marketing to purchase inventory, new equipment, or as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly to work with your situation.
This Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large, your business needs to have been operating for at least three years and generate an annual revenue of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Larger Business Loan can be used for almost all company use, including business renovations, to purchase new equipment or inventory as well as for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It is usually by taking a charge against assets, which could also include registration with the PPSR or registering a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is generally based rather than stipulating the security for a particular asset. The person signing the ensure is personally responsible if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR permits priority over personal property to be assigned according to the date a security interest that is registered.
A caveat is a legal form of document to provide an official notice of a claim to a property.
If you’re applying for larger company loans that exceeds $250,000 we may be able to provide a preliminary pre-approval to help make the process. We might be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering some financial well-being questions. It is neither an offer nor a guarantee of funds. A conditional approval is subject a full credit assessment and any offer you may receive may be subject to different conditions.
You may be eligible for a company loan if you:
The application process is quick and easy. Just complete the online application within a few minutes and a dedicated business credit specialist will call you to guide you through the process.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD as well as 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 as well as the two most recent years’ financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we typically offer an answer in just one hour, provided you apply within standard company hours and allow us to make use of the advanced bank verification system to immediately verify your bank account information online. If you decide to send us copies of your bank statements we can offer a decision in just an company day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to offer you with conditional pre-approval within six hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Certain offers have been approved in less than 24 hours.
The most effective method would be to make sure you apply during normal business hours and allow us to use the modern bank verification to instantly verify your bank information online. If you send us the copies of bank statements , it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour, provided you make your application at normal business time and let us use the bank verification system to instantly verify your bank information online. If you decide to upload copies of your banking statements, we’ll be able to offer a decision within 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be able to offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain agreements have been approved within 24 hours.
The most efficient method can be make sure you apply during normal business hours, and let us use the modern bank verification link to instantly verify your bank information online. If you opt to send us copies of your bank statements it may take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a specific amount we take into consideration a range of factors for determining your health of the company as well as the amount of the repayments your business is able to afford. The total amount of your loan will depend on the specific circumstances that are unique to your business.
When you submit an application for a particular amount, we look at a range of aspects to determine your well-being of your company and the extent of the repayments your company can support. The total amount of your loan will be contingent on the particulars that are unique to your business.
If you decide to apply for one of our business credit, we’ll assess the risk assessment the business and offer you with a tailored offer including the loan amount, the terms and interest rates. A company loan is an upfront cost loan and you’ll be aware of the total amount payable including any interest rates, fees or charges.
The interest rates on company loans rates depend on a variety of variables like the amount to be borrowed, what company assets the funds will be used for in addition to the industry that the business is in, how long the company has been operating for, what percentage of the business has enough cash flow to fund the loan, and the overall well-being or financial standing of the business.
There aren’t any hidden costs for our business loans. You’ll know precisely how much you’ll be required to pay, and when, from the very first day. There’s no compounding and no extra fees (as long as you make your payments on time).
We don’t charge an application fee. You can request a credit loan no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of your loan at any point in time.
If you decide to pursue this option, please contact our helpful company loans experts. We will provide you with details for repayment and an early payment figure. The figure will be calculated as the sum of the remaining principal amount and accrued interest to the date of early payout plus 1.5 percent of the remaining principal plus any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow routine, we offer repayments that are either daily or weekly. They are automatically deducted from your nominated business account.
Protecting your information, and being transparent about how we collect, use, exchange and safeguard your data, is of paramount importance and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system to instantly verify your bank account details online, allowing us to provide an immediate response.
The term "asset-based" refers to borrowing where the company owner makes use of an asset they own to secure the funding. The asset may be a personal asset like the family home or an company property like a truck or piece of equipment.
The vast majority of banks, even the banks with the biggest size, prefer to make loans secured by an asset. If you have trouble paying back the loan then your assets could be sold by the lender. In essence, it is means of securing additional financing making use of the value of what you already have.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money but we do require the personal guarantee. As long as you follow the loan terms (as stipulated in the loan contract), asset security will never be needed. For loans over $150K generally, there is a personal guarantee and security that is in the form a charge over assets.
