The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Need more funds? Find out the conditions of eligibility for our $100K-$500K company financing.
All that is needed to start is your contact details (company name and your name, as well as email and telephone) along with the amount you’d like to borrow and your monthly revenue.
Through the process and before settlement we’ll require confirmation of your identity, but not for starting:
Once we’ve started, for loans that exceed $150,000, you’ll require fundamental financial statements:
Let’s get started.
Sydney unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply for your Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and have the funds in your account within 24 hours. Traditional company loans have an interest rate per annum as well as other fees and charges. The business loan is an upfront priced loan therefore you’ll be aware of the total amount due, which includes the interest, fees and charges. This is then divided into weekly or daily payment amount.
A Small Business Loan can be used for almost any business use, including cash flow management, company remodeling, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan in this amount, your business needs to be operating for at least three years with an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large company loan can be used to fund almost any business need, including business improvements, purchasing inventory or new equipment or as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is needed to access funding over $150,000. This is in the form of a charge against assets, and may be registered through the PPSR or filing as a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature, rather than defining security over an asset. The person signing the guarantee is personally accountable if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a security interest was registered.
An affidavit is an official form of document to offer notice of a legal claim on a property.
When you’re applying for the Larger Business Loan that is greater than $250K we can offer an initial pre-approval that will help ease the process. It is possible to apply for this without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes you answering a few financial health checks. This is not an offer or guarantee of credit. A conditional approval is subject an assessment of your creditworthiness and any offer you may receive may be subject to different conditions.
You may be eligible for an company loan if you:
The application process is quick and easy. Just fill out the online application within a few minutes and an experienced business expert in lending will be in touch to assist you.
To be eligible for up to $100,000, you’ll require identification details (valid Driver’s License) as well as an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually provide a response in one hour, provided you make your application at standard company timings and let us utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can offer the decision within just an business day.
If you are applying for a Larger Business Loan ($100K and up) we might be in a position to offer the conditional pre-approval within about 6 hours. Once you have 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. Some deals have been approved in 24 hours.
The quickest method is to make sure you apply during normal company hours and allow us to use our advance bank verification to check your bank’s information online. If you send us the copies of bank accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within one hour, provided you submit your request within standard business time and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statement, we’ll provide a decision in as little as the span of one business day.
For the Larger Business Loans ($100K and up) we may be capable of provide you with pre-approval conditional to your application within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some transactions have received approval within 24 hours.
The fastest method for you to apply is ensure you apply during standard business hours and allow us to use our modern bank verification to instantly check your bank’s information online. If you choose to send us documents from your account statement, it may take a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a certain amount we consider a variety of factors that determine your health for your business as well as the amount of the repayments your business can support. The amount you receive from your loan will depend on the specific circumstances of your company.
If you apply for a particular amount, we take into consideration a variety of variables to assess your well-being of your company and the level of repayments that your business can support. The total amount of your loan will be determined by the specifics for your company.
If you decide to apply for business loans with us company financing, we’ll assess the risk assessment for your company and offer an individualised offer that includes the amount of the loan, the duration and interest rates. The business loan is an upfront cost loan and you’ll know in advance the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for business loans rates differ based on various factors like the amount of money of money borrowed, the business assets the money will be used for as well as the field the company is in, how long the business is in operation and how long the business has sufficient cash flow to pay for the loan, and also the overall health and creditworthiness of the company.
There aren’t any hidden charges with our business loans, and you’ll know precisely how much you’ll be required to pay, and when, from the day you sign up. There’s no compounding interest, and no extra fees (as as you make your payments on time).
We don’t charge an application fee. You can get a cash loan with no upfront cost or commitment to apply.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can choose to repay all of your loan early at any time.
If you do decide to do this please talk to one of our helpful company loan professionals. They’ll offer you with repayment details along with an early payout estimate. This is calculated as the total of the principal balance and accrued interest to the time of early payment in addition to 1.5 percent of the principal remaining as well as any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow cycle we offer repayments that are either weekly or daily. They are automatically deducted from your designated company account.
Making sure that your information is secure, and being transparent about the ways we gather data, process, exchange and secure your information, is of paramount importance and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We employ an exceptionally sophisticated bank verification system to immediately verify your bank account details online, allowing us to offer a fast response.
Asset-based borrowing is when an company owner borrows from assets they own to obtain the loan. The asset could be a personal asset like the family home, or it could be a business property like a truck or other piece of machinery.
The majority of the lenders even the major banks, prefer to secure loans against an asset. If you have trouble paying back the loan, the asset might be sold by the lender. In essence it is an opportunity to secure new financing by using the worth of the asset you already have.
For loans of up to $150,000, there is no requirement for asset security before you are able to access the money, however we require a personal guarantee. need an individual guarantee. If you adhere to the terms of your loan (as stipulated in the loan contract) the security of assets is not needed. For loans over $150,000 typically, you will need the option of a personal guarantee and security in the form the charge of assets.
