The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Review the conditions of eligibility for our $100K-$500K company financing.
All that’s needed to start is your contact information (company name, your name, email address and phone), how much you’d like to lend, and your monthly earnings.
During the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
Once we’ve started, for loans greater than $150,000 you’ll require basic financial statements:
Let’s get started now.
Sydney unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply to your Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and the money could be available in just 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. Our company loan is a loan that is priced upfront therefore you’ll know in advance the total amount due, which includes any fees, charges or charges. Then, it is broken down into a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost any company purpose including cash flow management, company renovations, marketing, to purchase 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 size loan to aid in business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
This Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large the business needs to have been in operation for at least 3 years, and have an annual income of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger company loan can be used for nearly all business need, including company remodeling, buying new equipment or inventory, as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for funding of more than $150,000. It is usually as a result of an charge on assets, which could also include registration with the PPSR or registering a caveat.
A director’s or personal ensure is a guarantee to pay back a loan that is general in nature, rather than specifying security over an asset. The person who is signing the guarantee is personally responsible if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR gives priority over personal property to be granted according to the date a security interest has been registered.
An affidavit is an official form of document to provide an official notice of a claim to a property.
When you’re applying for a Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval to ease the process. We could be able to get this done without a credit verification and within 6 hours of your initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial health checks. This is not an offer or guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you might receive could be on different terms.
You can apply for a business loan if you
The application process is quick and easy. Complete the online form within a few minutes and a dedicated company credit specialist will call you to guide you through the process.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent, 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, as well as interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer in just one hour, provided you make your application during standard business timings and let us use the advanced bank verification system link to instantly verify your bank information online. If you want to upload copies of your bank statements , we will be able to offer an answer in just 1 business day.
For the Larger Business Loan ($100K up to $500,000) we may be able to offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be quicker based on the particular circumstances of each application. Some offers have been approved within 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours and allow us to use the advance bank verification to verify your bank account information online. If you upload duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K and up) we can often offer an answer within one hour – as long as you make your application in normal business time and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statements we can provide an answer in as little as one business day.
For the Larger Business Loans ($100K up to $500,000) We may be in a position to provide you with a conditional pre-approval in about six hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some agreements have been approved in less than 24 hours.
The most efficient method for you to apply is make sure you apply during normal business hours and permit us to use the advanced bank verification system link to check your bank’s information online. If you decide to upload copies of your bank statements it will take a little longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of elements to determine how much we can lend you health for your business and the extent of repayments that your company can afford. The amount you receive from the loan will be determined by the specifics that are unique to your company.
When you submit an application for a certain amount, we look at a range of factors to assess your health of your company and the extent of payments your business can afford. The total amount of your loan will depend on the particular circumstances that are unique to your business.
If you decide to apply for the business credit, we’ll assess the risk assessment of your company and provide you with a customised offer that includes the amount of loan, the term and interest rates. The business loan is an upfront cost loan which means you know the exact amount payable including any charges or interest.
Business loan interest rates differ based on various variables like the amount to be borrowed, what business assets the money are used to purchase, the industry the business operates in, the long the business has been operating, whether the company has enough cash flow to support the loan, and also the overall well-being or financial standing of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely how much it is that you be required to pay, and when, right from the very first day. There’s no compounding and no extra fees (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 no cost upfront or the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing 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 loan.
You can choose to repay all of your loan early at any time.
If you are deciding to do this please speak to our friendly company lending specialists. They’ll provide you with the details of your repayment and an early payment figure. It will be calculated using the total of the principal amount remaining and accrued interest to the date of early payout and 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we offer repayments that are either weekly or daily. They are automatically deducted from your nominated business account.
Making sure that your information is secure, and being transparent about how we collect the information we collect, use, share and protect your information, is vital and a vital element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We make use of an advanced banking verification system to instantly confirm your bank account information online to offer rapid response.
Asset-based borrowing is when an business owner makes use of an asset they own to make the loan. The asset could be a personal asset like the family home, or a business asset such as a vehicle or other piece of machinery.
The vast majority of banks, even the big banks, tend to make loans secured by an asset. If you’re struggling to pay back the loan, then the asset might be sold by the lender. In essence, it’s an opportunity to secure additional financing using the worth of the asset you already own.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money However, we do require an individual guarantee. So long as you comply with the terms of your loan (as specified in your loan contract document), asset security will never be required. For loans that exceed $150K, generally there is a personal guarantee and security in the form a charge over assets.
