The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the conditions of eligibility for our $100K-$500K company loans.
All that’s required to get started is your contact information (the name of your company, your name, email and telephone) and the amount you want to borrow, as well as your monthly income.
During the process and before settlement we will require confirmation of who you are, but not before we can begin:
After we start, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
You can apply to this Small Business Loan in under 10 minutes by phone. You will receive a same day response and the money could be in your account in 24 hours. Traditional company loans have an annual rate of interest as well as other fees and charges. Our business loan is an upfront priced loan so you will know ahead of time the total amount payable including any fees, interest or charges. This is then divided into weekly or daily amount to be paid back.
A Small Business Loan can be used to fulfill almost every business purpose including the management of cash flow, company improvements, advertising to purchase inventory or new equipment, as general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your company needs to have been trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Larger Business Loan is a great option for almost any business purpose including business renovations, purchase of equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. This can be done in the form of a charge over assets, and could include registration in the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than defining security over an 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 that is operated by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR grants priority over personal property to be assigned in accordance with the date on which a security interest has been registered.
Caveats are legal document that is filed to provide notice of a legal claim to property.
If you’re requesting a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval that will help make the process. We may be able to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes you answering a few financial health questions. It is not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you might receive could be subject to different terms.
You may apply for a company loan if you;
The application process is quick and simple. Complete the online form within a couple minutes, and an experienced company credit specialist will contact you to guide you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s Licence), an active NZBN/IRD, and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent and 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, and interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within one hour if you submit your request at quality business times and allow us to utilise the bank verification system to instantly verify your bank details online. If you decide to upload copies of your banking statement, we’ll offer a decision within an company day.
For Larger Business Loans ($100K up to $500,000) we might be capable of offer you with conditional pre-approval in around six hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based on the specifics of each application. Certain transactions have received approval within 24 hours.
The fastest way would be to make sure you apply during standard company hours, and let us use the modern bank verification to instantly verify your bank account information online. If you opt to upload the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer in just one hour if you submit your request during standard business hours and permit us to use the bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements, we are able to offer the decision within 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be likely to offer you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Certain agreements have been approved within just 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours, and permit us to use the modern bank verification to verify your bank information online. If you decide to send us duplicates of your banking accounts, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you submit an application for a certain amount, we look at a variety of elements that determine what is the well-being of your company and the amount of payments your business will be able to support. The amount you receive from your loan will be contingent on the specific circumstances the business.
When you apply for a certain amount, we will consider a number of elements to determine the well-being that is your business and the extent of the repayments your business can support. The amount you receive from your loan will be determined by the specifics of your business.
If you decide to request our business credit, we’ll assess the risk assessment the company and offer an individualised offer that includes the amount of the loan, the duration and the interest rates. A company loan is an upfront-priced loan so you will be aware in advance of the total amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates depend on several variables like the amount to be borrowed, the business assets the funds will be used for in addition to the industry that the company operates in, how long the company has been running for, what percentage of the business has sufficient cash flow to pay for the loan, and the general well-being and creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll know precisely how much it is that you be required to pay, and when, right from the very 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 make an application for loans with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can repay the entire amount of your advance loan at any time.
If you do decide to take this route, please call our helpful business loans experts. They will offer you with repayment details and an early payout figure. This will be calculated as the total of the principal balance and any accrued interest at the time of early payment, plus 1.5 percent of the remaining principal and any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from the nominated company account.
Security of your data, and being transparent about the ways we gather data, process, exchange and protect your information, is of huge importance and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We use an advanced banking verification system to instantly verify your bank account information online to offer an immediate response.
Asset-based borrowing is when the business owner utilises an asset that they own to secure a loan. The asset could be a personal asset like the family home, or a business property like a truck or piece or equipment.
The majority of lending institutions, including the big banks, tend to secure loans against assets. If you’re having trouble paying back the loan then your asset may be taken over by the lender. In essence, it is an opportunity to secure additional financing using the value of what you already have.
For loans up to $150,000 there is no requirement for asset security upfront to access the money but we require a personal guarantee. require a personal guarantee. So long as you comply with your loan commitments (as specified in the loan contract), asset security will never be required. If you take out loans in excess of $150K generally there is personal guarantee and security in the form an asset charge.
