The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Find out the eligibility requirements for our $100K to $500K company loan.
All that is needed for starting is your contact information (company name, your name, email, phone), how much you’d like to lend, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of your identity but not for starting:
In addition, once we have started in the process, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
You can apply to get your Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and the money could be available in just 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. We offer a business loan is an upfront priced loan which means you know in advance the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into weekly or daily repayment figure.
A Small Business Loan can be used for nearly any company reason, such as managing cash flows, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a loan of this size, your company needs to have been operating for at least three years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly every company use, including company remodeling, buying new equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. This is by taking a charge over assets, and may be registered on the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is generally in nature rather than stating the security of a specific asset. The person who is signing the guarantee is personally accountable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including items or assets). The PPSR gives the priority of personal property granted according to the date the security interest has been registered.
An affidavit is an official document filed to offer the public notice of a legal claim against a property.
When you’re applying for an enterprise loan of $250K or more, we may offer an initial pre-approval that will help ease the process. We could be able to get this done without a credit check and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering some financial health checks. It is in no way an offer, nor is it a guarantee of financing. A conditional approval is subject an exhaustive credit evaluation, and any offer that you receive could be subject to different terms.
You may apply for a company loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and an experienced business loan specialist will contact you to guide you through the process.
For a loan of up to $100,000 you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent and 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, and interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often provide a response in one hour – as long as you apply in quality company time and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statement, we’ll offer an answer within an business day.
For the Larger Business Loan ($100K to $500K) we might be in a position to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Some transactions have received approval in just 24 hours.
The most efficient method can be ensure you apply during standard business hours. Also, allow us to use the advance bank verification link to instantly confirm your bank details online. If you send us duplicates of your banking accounts, it can take a bit longer.
For the Small Business Loan ($5K or more) We can usually offer an answer in just one hour, provided you make your application at standard business time and you allow us to use the bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can provide a decision in just an business day.
For the Larger Business Loans ($100K up to $500,000) we might be capable of provide you with conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this can be faster depending on the circumstances of each application. Some deals have been approved in less than 24 hours.
The most effective method is to ensure you apply during normal business hours, and let us use the advanced bank verification system to verify your bank information online. If you decide to upload copies of your bank accounts, it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount, we take into consideration a range of factors for determining what is the well-being for your business as well as the amount of the repayments your company is able to afford. The amount you receive from the loan will be determined by the specific circumstances the company.
When you apply for a set amount, we consider a variety of factors to determine your health of the company as well as the amount of repayments that your business can afford. The total amount of your loan will depend on the particulars the business.
When you request the business credit, we’ll assess the risk assessment the business and offer you with a tailored offer including the amount of the loan, the duration and the interest rates. The company loan is an upfront priced loan which means you know the exact amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates depend on several factors including the amount of money borrowed, the business assets the funds will be used for as well as the field the company operates in, the long the company has been running, whether the company has sufficient cash flow to cover the loan, and general well-being or financial standing of the company.
There are no hidden costs with our company loans. You’ll know precisely what you’ll be required to pay and when, right from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You can apply for a loan with with no upfront cost or obligation to proceed.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay all of your advance loan at any time.
If you are deciding to take this route, please contact our helpful company loan specialists. They’ll offer you with details on repayment as well as an early payout amount. It will be calculated using the total of the principal remaining and accrued interest to the date of early payout plus 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow standard, we offer repayments either daily or weekly. These are automatically deducted from your designated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and secure your information, is crucial and a vital element of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We use an advanced bank verification system to immediately verify your bank account details online, allowing us to offer an immediate response.
Asset-based borrowing is when an company owner makes use of the assets they have to obtain the loan. The asset can be either an asset belonging to the personal, like the family home, or a company asset like a truck or other piece of machinery.
The vast majority of lending institutions, not just the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, your asset may be offered for sale by the lender. In essence it’s a way of securing new financing taking advantage of the value of what you already have.
For loans that exceed $150,000, no asset security is required prior to the loan’s access, however we do require the personal guarantee. So long as you comply with your loan commitments (as specified in your loan contract document), asset security is not needed. For loans over $150K generally, there is an individual guarantee and security is provided in the form of an asset charge.
