The criteria for eligibility for an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K company loans.
All that is needed to begin is your contact information (the name of your company and your name, as well as email and phone) as well as the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we will need confirmation of your identity, however, not in order to begin:
Once we’ve started, for loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started now.
Sydney unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes over the phone, receive an immediate response, and have the funds available in just 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. Our company loan is a pre-paid loan which means you be aware of the total amount due, which includes any interest, fees or charges. This is then broken down into weekly or daily repayment figure.
A Small Business Loan can be used for nearly every company purpose including managing cash flows, business remodels and marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large the business needs to be operating for at least three years with an annual turnover of $700K. You must 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 demonstrate at least 12 months of trading.
A Larger Business Loan can be used for nearly all company purpose including company renovations, to purchase equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required for funding of more than $150,000. This is as a result of an charge on assets and can include the registration of this with the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature rather than stating the security of a specific asset. The person signing the ensure is personally liable in the event that the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR gives preference over private property granted according to the date the security interest that is registered.
Caveats are legal form of document to provide notice of a legal claim against a property.
If you’re applying for an enterprise loan that is greater than $250,000 we can offer an initial pre-approval in order to make the process. We could be able to make this decision without a credit verification and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves answering a couple of financial well-being checks. It is not an offer of credit or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, 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 within a couple minutes, and a dedicated company expert in lending will call you to help you.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent, 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, in addition to interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) We can usually provide a response in one hour – as long as you make your application within quality company hours and you allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to submit copies of your bank statements , we are able to provide an answer in just an company day.
For Larger Business Loans ($100K and up) we may be capable of offer you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some deals have been approved in the space of 24 hours.
The quickest way to apply is to ensure you apply during normal business hours, and let us use the advance bank verification link to instantly verify your bank information online. If you send us the copies of bank statements it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour – provided you apply during normal business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements, we will be able to provide the decision within one business day.
For the Larger Business Loans ($100K and up) we might be able to offer the 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 on the circumstances of each application. Some deals have been approved within the space of 24 hours.
The most effective method would be to make sure you apply during normal business hours and allow us to use our advanced bank verification system to verify your bank information online. If you opt to send us duplicates of your banking statement, it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a specific amount we take into consideration a range of aspects for determining your health of the business and the level of repayments your business can afford. The total amount of your loan will depend on the particular circumstances the business.
When you apply for a specific amount we look at a range of variables to determine the well-being for your company as well as the amount of payments your company is able to afford. The total amount of the loan will be determined by the particulars that are unique to your company.
When you apply for the company loan, we’ll assess the risk profile for your business and offer you with a customised proposal that includes loan amount, term and the interest rates. The business loan is an upfront-priced loan so you will be aware in advance of the total amount you will have to pay, including charges or interest.
The interest rates on business loans rates depend on a variety of variables like the amount to be borrowed, what business assets the money will be used for as well as the field the company operates in, the long the company has been operating for, how long the business has enough cash flow to support the loan, and overall health or creditworthiness of the company.
There aren’t any hidden costs for our company loans, and you’ll know precisely what you be required to pay, and at what time, from the day you sign up. There’s no compounding 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 get a cash loan no cost upfront or commitment to apply.
The Origination Fee includes the expenses associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back the entire amount of your advance loan at any time.
If you decide to take this route, please speak to our friendly business loans professionals. They’ll provide you with repayment details and an early payment figure. This will be calculated as the total of the principal balance plus any accrued interest as of the time of early payout in addition to 1.5% of the principal balance as well as any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your nominated company account.
Protecting your information, and making it clear how we collect data, process, exchange and secure your information, is of paramount importance and is a crucial part of our relationship you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We employ a highly sophisticated bank verification system link to immediately verify the bank account details online. This allows us to provide quick responses.
The term "asset-based" refers to borrowing where a company owner uses the assets they have to secure a loan. The asset could be an individual property, such as the family home, or it could be a company asset such as a truck as well as a piece of machine.
The majority of lending institutions, not just the big banks, tend to make loans secured by assets. If you are having difficulty paying back the loan, the asset could be offered for sale by the lender. In essence, it’s the process of securing new funding using the value of what you already own.
Up to $150,000 in loans it is not necessary to secure assets prior to the loan’s access However, we do require an individual guarantee. If you adhere to your loan commitments (as detailed in your loan contract), asset security will never be required. For loans of over $150K typically, you will need an individual guarantee and security in the form of a charge over assets.
