The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Are you looking for additional funding? Take a look at the conditions of eligibility for our $100K to $500K company credit.
All that’s needed for starting is your contact details (the name of your company, your name, email and phone) along with the amount you want to borrow, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of your identity, but not for starting:
Once we’ve started with loans of more than $150,000 you’ll also require the following financial statements:
Let’s get started now.
Sydney unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and have the funds in your account in 24 hours. Traditional business loans are based on an interest rate per annum plus other fees and charges. This company loan is a pre-paid loan so you will know ahead of time the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly amount to be paid back.
A Small Business Loan can be used for virtually every business purpose including control of cash flow company renovations, marketing to purchase inventory, new equipment, for general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan of this size the company needs to be operating for a minimum of 3 years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or 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 every business reason, such as business improvements, purchasing 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 necessary to access funding over $150,000. It’s as a result of an charge against assets, and may include the registration of this in the PPSR or the registration of as a caveat.
A director’s or personal ensure is a commitment to repay a loan which is generally in nature rather than stating security over an asset. The person who is signing the ensure is personally accountable if the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted according to the date the security interest was registered.
The caveat can be described as a formal document lodged to offer an official notice of a claim on a property.
If you’re seeking a Larger Business Loan that exceeds $250,000 we may be able to provide a preliminary pre-approval to help ease the process. We may be able to do this without credit checks and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial health checks. It is in no way an offer, nor is it a guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you are offered could be based on different terms.
You are eligible to apply for a company loan if you;
The application process is quick and easy. Simply complete the online form within a few minutes and a dedicated business expert in lending will be in touch to guide you through the process.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent twelve months bank statement, an IRD statement, last 2 years finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K or more) we usually provide an answer in just one hour, provided you submit your request within standard business hours and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can provide an answer in just the span of one company day.
For the Larger Business Loan ($100K to $500K) we may be able to offer you with a conditional pre-approval in around six hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter based upon the circumstances for each application. Some transactions have received approval within less than 24 hours.
The fastest way is to ensure you apply during standard company hours. You can also allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you upload the copies of bank statements it will take a little longer.
For the Small Business Loan ($5K and up) we typically offer an answer in just one hour if you submit your request within standard business hours and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements, we’ll be able to provide the decision in as little as 1 business day.
For Larger Business Loans ($100K up to $500,000) We may be capable of offer the conditional pre-approval in around six hours. Once you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved within less than 24 hours.
The most effective method is to ensure you apply during normal business hours. You can also let us use the sophisticated bank verification to verify your bank information online. If you opt to upload copies of your bank statements it will take a little longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a specific amount we will consider a number of factors that determine the well-being for your business as well as the amount of payments your company can 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 specific amount we look at a range of aspects to determine your well-being of your business and the amount of repayments your company can support. The amount you receive from your loan will be determined by the specifics for your company.
When you apply for business loans with us company credit, we’ll assess the risk profile the business and offer an individualised proposal that includes the amount of loan, the term and interest rates. A company loan is an upfront cost loan and you’ll be aware in advance of the total amount you will have to pay, including interest rates, fees or charges.
The interest rates on company loans rates depend on a variety of variables like the amount to be of money borrowed, the company assets the funds are used to purchase, the industry the company operates in, the long the business is in operation as well as what percentage of the business has sufficient cash flow to pay for the loan, and also the general well-being or creditworthiness of the business.
There are no hidden costs for our business loans. You’ll know precisely what you’ll need to pay and when, right from the very first day. There’s not any compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We don’t charge an Application Fee. You can make an application for loans with no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of your loan early at any time.
If you decide to take this route, please call our helpful company credit specialists. They’ll provide you with the details of your repayment as well as an early payout amount. It will be calculated using the sum of the remaining principal amount and any accrued interest at the time of early payment and 1.5% of the principal amount remaining as well as any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow general, we provide payments that are either daily or weekly. These are automatically deducted from your designated company account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as protect your information, is of huge importance and is a crucial element of our relationship with 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 protecting the security of customers and security. We use an advanced bank verification system link to immediately verify your bank account details online. This allows us to offer a fast response.
The term "asset-based" refers to borrowing where an business owner makes use of assets they own to obtain the funds for a loan. The asset could be an individual property, such as the family home, or an business asset such as a vehicle or piece of equipment.
The vast majority of the lenders not just the major banks, prefer to secure loans against assets. If you’re having trouble paying back the loan, the asset might be transferred to the lender. In essence it’s means of securing new funding taking advantage of the value of what you already have.
For loans that exceed $150K, it is not necessary to secure assets in advance to gain access to the funds however, we require a personal guarantee. need the personal guarantee. So long as you comply with the loan terms (as stated in your loan contract document) the security of assets will never be required. If you take out loans in excess of $150K typically, you will need a personal ensure and security in the form of charges on assets.
