The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the conditions of eligibility for our $100K to $500K business credit.
All you need for starting is your contact details (company name and your name, as well as email and telephone) as well as the amount you want to borrow, and your monthly earnings.
While in the process and before settlement we’ll need confirmation of your identity, but not to get started:
Additionally after we get started with loans that exceed $150,000, you will also need the following financial statements:
Let’s get started.
Sydney unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
The application to get the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an answer within the same day and have the funds on your account within 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. We offer a business loan is an upfront priced loan which means you be aware of the amount you will have to pay, including any fees, interest or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used to fulfill almost any company use, including cash flow management, business remodeling, marketing, to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your company needs to have been in operation for at least 3 years, and have an annual income of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan can be used for almost any business use, including company remodeling, buying equipment or inventory, as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. It’s by taking a charge on assets, and may be registered on the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is generally in nature rather than stipulating the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR grants preference over private property granted in accordance with the date on which a registration of a security interest.
An affidavit is an official document filed to offer the legal claim on a property.
If you’re applying for larger company loans of $250,000 or more, we may offer an initial pre-approval to ease the process. We may be able to make this decision without a credit verification and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health checks. This is neither an offer nor a guarantee of finance. A conditional approval is subject an exhaustive credit evaluation, and any offer you are offered could be subject to different terms.
You can apply for a company loan if you;
The application process is fast and easy. Simply complete the online form within a couple minutes, and a dedicated company lending specialist will be in touch to guide you.
To apply for up $100,000 you’ll need identification details (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) we can often provide an answer within one hour, provided you make your application during quality business timings and permit us to utilise the 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 the decision in just one company day.
For the Larger Business Loan ($100K or more) we may be able to offer the conditional pre-approval in around six hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some agreements have been approved in 24 hours.
The quickest method can be ensure you apply during normal company hours, and permit us to use the modern bank verification link to instantly verify your bank account information online. If you choose to upload copies of your bank accounts, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer within an hour – as long as you submit your request in normal business times and let us use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements, we are able to offer an answer in just 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be likely to provide you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be faster depending upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The fastest way would be to ensure you apply during normal business hours and allow us to use our advanced bank verification system to check your bank’s information online. If you choose to send us copies of your bank statements it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a particular amount, we consider a variety of elements to determine the health that is your company as well as the amount of payments your business is able to afford. The amount you receive from your loan will be contingent on the particular circumstances of your business.
When you make an application for a set amount, we consider a variety of factors to assess your health of your company and the extent of the repayments your business can afford. The total amount of the loan will be determined by the specific circumstances of your company.
When you request our company financing, we will assess the risk assessment the company and offer an individualised offer including loan amount, term and interest rates. A company loan is an upfront cost loan therefore you will be aware in advance of the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on several variables like the amount to be 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 running for, how long the business has sufficient cash flow to fund the loan, and the overall health or financial standing of the company.
There are no hidden fees with our business loans. You’ll know precisely what you’ll be required to pay, and at what time, from the very first day. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We do not charge an Application Fee. You are able to get a cash loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back the total amount of your advance loan at any time.
If you do decide to do this please contact our helpful business credit specialists. The experts will offer you with the details of your repayment as well as an early payout amount. It will be calculated using the total of the principal remaining and any accrued interest at the time of early payment and 1.5 percent of the principal amount remaining as well as any outstanding fees.
To help you avoid missing payment dates and to align your cash flow schedule, we provide payments that are either daily or weekly. They will be automatically deducted from your company account.
Protecting your information, and being upfront about how we collect, use, exchange and secure your information, is vital and is a crucial part of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and security. We use an advanced bank verification system to immediately verify your bank account details online so we can offer a fast response.
Asset-based borrowing occurs when the business owner makes use of an asset they own to get the loan. The asset can be an individual property, such as the family home, or a business asset like a truck or other piece of machinery.
The vast majority of the lenders not just the banks with the biggest size, prefer to make loans secured by assets. If you have trouble paying back the loan then your assets could be offered for sale by the lender. In essence it’s an opportunity to secure new funding using the worth of the asset you already have.
For loans up to $150,000 the requirement for asset security is not required in advance to gain access to the funds, however we do require the personal guarantee. In the event that you fulfill the loan terms (as specified in your loan contract document) the security of assets is not needed. If you take out loans in excess of $150K generally, there is personal guarantee and security is provided in the form of a charge over assets.
