The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K company financing.
All you need to start is your contact details (company name, your name, email, phone), how much you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start, for loans of more than $150,000 you’ll also need basic financial statements:
Let’s get started now.
Sydney unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an answer within the same day and funds may be in your account in 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. The company loan is a cash-based loan and you’ll know ahead of time the total amount due, which includes any fees, interest or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually any company reason, such as managing cash flows, business remodels and marketing, to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly in order to accommodate your situation.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
In order to be eligible for a loan of this size, your business needs to be operating for a minimum of 3 years and have an annual turnover of $700,000. Your business must belong to 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 continuous trading.
A large business loan is a great option for almost every business use, including business renovations, to purchase new equipment or inventory, as general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s by way of charge against assets, and could include the registration of this in the PPSR or registering as a caveat.
A personal or director’s ensure is a promise to pay back a loan that is general in nature rather than stating the security of a specific asset. The person who is signing the guarantee is personally liable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including items or assets). The PPSR gives preference over private property assigned according to the date a registration of a security interest.
Caveats are legal document lodged to provide notice of a legal claim on a property.
If you’re requesting the Larger Business Loan of more than $250,000 it’s possible to offer a preliminary pre-approval to help simplify the process. We might be able to get this done without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering some financial health checks. This is not an offer of credit or guarantee of funds. 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 simple and simple. Simply complete the online form within a few minutes and an experienced company expert in lending will contact you to guide you.
To be eligible for up to $100,000 you’ll need identification details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent and 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we can often provide an answer within an hour, provided you apply within standard company timings and permit us to utilise the bank verification system link to immediately verify your bank account information online. If you opt to send us copies of your bank statements we can offer the decision within 1 company day.
For the Larger Business Loan ($100K and up) we may be able to provide you with conditional pre-approval in around six hours. Once you’ve signed the 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 agreements have been approved in the space of 24 hours.
The fastest way can be ensure you apply during normal business hours. You can also let us use the modern bank verification to confirm your bank details online. If you choose to send us the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within one hour – as long as you submit your request at normal business hours and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements we can offer a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be able to offer you with a conditional pre-approval in around six hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain agreements have been approved in the space of 24 hours.
The quickest method is to ensure you apply during normal business hours and allow us to use our sophisticated bank verification to instantly verify your bank information online. If you send us copies of your bank statements it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. If you apply for a specific amount we will consider a number of variables in order to assess the health for your company and the level of the repayments your company is able to afford. The total amount of the loan will be determined by the specific circumstances the company.
When you submit an application for a specific amount we consider a variety of elements to assess how much we can lend you such as health for your business and the extent of the repayments your business can support. The total amount of the loan will be determined by the specifics for your company.
When you apply for one of our company credit, we’ll assess the risk profile the business and offer you with a tailored offer, including the loan amount, the terms and the interest rates. This company loan is an upfront priced loan and you’ll be aware in advance of the total amount payable including any interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors including the amount of money borrowed, the company assets the money are used to purchase as well as the field the company operates in, the long the business has been running and in the event that the company has enough cash flow to cover the loan, as well as the overall well-being or creditworthiness of the business.
There are no hidden fees for our business loans, and you’ll know precisely what you’ll need 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 in time).
We do not charge an application fee. You are able to apply for a loan with no upfront cost or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of your loan early at any time.
If you decide to do this please call our helpful business loan experts. We will provide you with details for repayment and an early payment figure. The figure will be calculated as the sum of the principal balance and the accrued interest up to the time of early payout plus 1.5 percent of the remaining principal as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. They are automatically deducted from your nominated company account.
Security of your data, and knowing how we collect information, use it, and exchange it, as well as protect your information, is of huge importance and is an essential aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and security. We make use of an advanced bank verification system to instantly verify the bank account details online. This allows us to provide a fast response.
The term "asset-based" refers to borrowing where a business owner utilises the assets they have to secure a loan. The asset may be an individual asset, such as the family home or a business asset such as a truck as well as a piece of machine.
The majority of the lenders including the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan then your assets could be sold by the lender. In essence, it’s means of securing additional financing making use of the value of what you already have.
For loans up to $150K there is no requirement for asset security in advance to gain access to the funds but we require a personal guarantee. need a personal guarantee. In the event that you fulfill your loan commitments (as specified in the loan contract) Asset security will never be needed. If you take out loans in excess of $150K generally there is an individual guarantee and security that is in the form an asset charge.
