The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Do you need more money? Take a look at the conditions of eligibility for our $100K-$500K company loan.
All that is needed to begin is your contact details (the name of your company, your name, email and phone), how much you’d like to borrow and your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not to get started:
After we start in the process, for loans over $150,000 you’ll require fundamental financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
It is possible to apply for this Small Business Loan in under 10 minutes on the internet or over the phone, receive an immediate response, and have the funds in your account within 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. Our company loan is a pre-paid loan so you will be aware in advance of the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into either a daily or weekly repayment figure.
It is a Small Business Loan can be used for nearly any company purpose including managing cash flows, business improvements, advertising, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a credit in this amount the company needs to be operating for a minimum of 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used to fund almost any business reason, such as company renovations, purchase of new equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. This is as a result of an charge over assets, and could include the registration of this with the PPSR or registering as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally in nature rather than specifying security over a particular asset. The person who is signing the guarantee is personally liable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR gives priority over personal property to be granted according to the date the security interest has been registered.
An affidavit is an official document filed to offer an official notice of a claim on a property.
If you’re requesting larger business loans that exceeds $250K it’s possible to offer an initial pre-approval in order to smooth out the process. We could be able to get this done without a credit verification and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being checks. It’s not an offer of credit or guarantee of finance. Acceptance without condition is subject to a full credit assessment and any offer you are offered could be on different conditions.
You may be eligible for an company loan if you:
The application process is fast and simple. Just fill out the online application in just 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 License), a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Information on the application including credit consent, 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K to $100K) We can usually offer an answer within an hour – as long as you apply in quality company times and let us make use of the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your banking statement, we’ll provide an answer within just 1 company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be capable of provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Certain deals have been approved within the space of 24 hours.
The most efficient method is to make sure you apply during standard business hours and allow us to use the advance bank verification to confirm your bank details online. If you opt to send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer a response in one hour, provided you submit your request during standard business times and allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to submit copies of your bank statements, we are able to offer an answer in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be likely to provide you with a conditional pre-approval in about 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 deals have been approved in the space of 24 hours.
The fastest method is to make sure you apply during standard business hours. You can also allow us to use our modern bank verification link to instantly verify your bank account information online. If you send us the copies of bank statement, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a certain amount, we look at a variety of aspects that determine the well-being for your business and the level of repayments that your business will be able to support. The amount you receive from the loan will be determined by the specifics the company.
When you apply for a specific amount we consider a variety of factors to assess the health that is your company and the level of repayments that your company is able to afford. The amount you receive from your loan will depend on the specific circumstances the company.
If you decide to apply for one of our business loans, we’ll assess the risk assessment that you have for your business and offer you with a tailored offer, including loan amount, term and interest rates. This company loan is an upfront cost loan and you’ll know the exact amount to be paid, including any charges or interest.
The interest rates on business loans rates depend on a variety of factors like the amount of money borrowed, what business assets the funds are used to purchase, the industry the business is operating in, how long the company has been running for, how long the business has sufficient cash flow to fund the loan, and also the general well-being and creditworthiness of the business.
There aren’t any hidden costs with our business loans, and you’ll know exactly how much you need to pay and when, right from the day you sign up. 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 can make an application for loans with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can decide to repay the entire amount of your advance loan at any time.
If you decide to do this please talk to one of our helpful business lending professionals. We will provide you with details on repayment and an early payment figure. This is calculated as the sum of the principal amount remaining and any accrued interest at the date of early payout in addition to 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payments and to work your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from the nominated company account.
The security of your personal information, as well as being clear about the ways we gather the information we collect, use, share and safeguard your data, is vital and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We utilise a sophisticated bank verification system that allows you to instantly confirm your bank account information online, allowing us to provide a fast response.
Asset-based borrowing occurs when the company owner uses the assets they have to obtain the funding. The asset can be either an asset belonging to the personal, like the family home, or a business asset such as a vehicle or piece or equipment.
The vast majority of lenders, including the big banks, tend to make loans secured by an asset. If you’re struggling to pay back the loan, the asset could be taken over by the lender. In essence it’s an opportunity to secure new financing by making use of the value of what you already own.
For loans that exceed $150,000, no asset security is required in advance to gain access to the funds, however we do require the personal guarantee. If you adhere to your loan commitments (as stated in the loan contract) the security of assets will never be required. For loans of over $150,000 generally, you can get a personal ensure and security that is in the form a charge over assets.
