The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business financing.
All that’s needed to begin is your contact details (the name of your company, your name, email or phone number) along with the amount you’d like to borrow and your monthly income.
While in the process and before settlement we’ll need confirmation of who you are but not for starting:
Once we’ve started in the process, for loans greater than $150,000 you will also need basic 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 which can be made daily or weekly.
You can apply to this Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and have the funds on your account within 24 hours. Traditional company loans have an interest rate per annum along with other charges and fees. Our business loan is a pre-paid 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 either weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost any company purpose including control of cash flow company improvements, advertising to purchase inventory, new equipment, or as 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 business expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
To be eligible for a loan in this amount, your company needs to be trading for at least 3 years and have an annual turnover of at least $700,000. The applicant must also 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 demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost every business reason, such as company remodeling, buying inventory or new equipment as well as for general working capital, and much more. The loan is not available for personal purposes.
Asset security is required to access funding over $150,000. This can be done in the form of a charge over assets, and may include registration through the PPSR or making as a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is generally based rather than stating security over an asset. The person who signs the guarantee is personally liable if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR grants the priority of personal property granted according to the date the registration of a security interest.
The caveat can be described as a formal document lodged to provide notice of a legal claim on a property.
If you’re seeking an enterprise loan that is greater than $250K we may be able to provide an initial pre-approval to make the process. We could 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 that includes answering a couple of financial health questions. It’s not an offer of credit or guarantee of credit. A conditional approval is subject a full credit assessment and any offer that you are offered could be based on different conditions.
You are eligible to apply for an company loan if you:
The application process is fast and simple. Just complete the online application in just a few minutes, and a dedicated company expert in lending will call you to guide you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s Licence) and a valid NZBN/IRD as well as at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, as well as interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour – as long as you make your application during standard business timings and let us utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statements we can provide a decision in as little as 1 business day.
For Larger Business Loans ($100K or more) we might be in a position to offer the conditional pre-approval in around 6 hours. After you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest method can be ensure you apply during normal company hours, and let us use the advanced bank verification system to instantly verify your bank account information online. If you upload duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K and up) we can often offer a response in one hour – provided you apply in standard business hours and allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statement, we’ll provide a decision within 1 business day.
For Larger Business Loans ($100K or more) we may be capable of offer you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Some offers have been approved in less than 24 hours.
The fastest way would be to make sure you apply during standard business hours. Also, allow us to use the advanced bank verification system to verify your bank account information online. If you upload the copies of bank statements it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a specific amount we look at a variety of elements that determine your well-being of the company and the extent of repayments your business will be able to support. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you make an application for a certain amount, we will consider a number of variables to determine your well-being that is your business and the amount of repayments that your business can support. The amount you receive from your loan will be contingent on the specifics of your business.
If you decide to apply for business loans with us business financing, we’ll assess the risk profile for your company and offer you with a tailored offer including the loan amount, the terms and interest rates. A business loan is an upfront priced loan which means you know in advance the total amount due, which includes any charges or interest.
Business loan interest rates vary due to factors such as the amount that is borrowed, the business assets the money are used to purchase in addition to the industry that the business operates in, how long the business has been in operation, whether the company has enough cash flow to fund the loan, as well as the overall well-being or financial standing of the company.
There aren’t any hidden costs with our business loans, and you’ll know exactly how much you’ll need to pay and when, from the very first day. There’s no compounding interest, and there are no additional charges (as long as you make your payments in time).
We do not charge an Application Fee. You are able to get a cash loan without any upfront costs or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the total amount of your loan in full at any time.
If you are deciding to take this route, please speak to our friendly company loan experts. We will offer you with repayment details along with an early payout estimate. It will be calculated using the sum of the remaining principal amount and any accrued interest at the time of early payout, plus 1.5% of the remaining principal as well as any outstanding fees.
To make sure that you don’t miss payment dates and to align with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from the nominated business account.
Protecting your information, and being clear about how we collect, use, exchange and secure your information, is crucial and a vital part of our relationship you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their privacy. We utilise a sophisticated bank verification system link to immediately verify the bank account details online. This allows us to offer a fast response.
Asset-based borrowing is when the company owner borrows from an asset that they own to obtain the loan. The asset can be a personal asset like the family home, or a business asset like a truck as well as a piece of machine.
The vast majority of the lenders even the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan, then your assets could be taken over by the lender. In essence it’s a way of securing additional financing taking advantage of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security prior to the loan’s access however, we require a personal guarantee. require the personal guarantee. In the event that you fulfill your loan obligations (as detailed in your loan contract) the security of assets is not required. For loans of over $150K generally, you can get an individual guarantee and security in the form of a charge over assets.
