The requirements for getting an unsecured business loan in Sydney of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K to $500K company credit.
All that is needed to start is your contact details (the name of your company, your name, email and telephone), how much you’d like to borrow, and your monthly revenue.
In the course of the process and before settlement we will need confirmation of who you are but not to get started:
After we start in the process, for loans over $150,000 you will also need basic financial statements:
Let’s get started now.
Sydney unsecured loans provides 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.
Apply for your Small Business Loan in under 10 minutes over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. Our company loan is an upfront priced loan and you’ll be aware in advance of the total amount to be paid, including any fees, interest or charges. This is then broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used for nearly any company purpose including control of cash flow company remodels and marketing for purchasing inventory or new equipment, for 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 business growth opportunities. Loans range from $100,000 to $500,000 over a fixed term up to 36 months. The repayments are made weekly or fortnightly depending on your situation.
A Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To qualify for a loan of this size the business needs to have been operating for at least three years and have an annual turnover of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used for almost every business purpose including business renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. This is in the form of a charge against assets, which could also include the registration of this through the PPSR or the registration of a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally in nature rather than stating security over a particular asset. The person who signs the ensure is personally responsible if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR grants preference over private property granted in accordance with the date on which a security interest that is registered.
Caveats are legal form of document to offer the public notice of a legal claim to property.
When you’re applying for an enterprise loan of more than $250,000 we may be able to provide an initial pre-approval in order to ease the process. We may be able to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial health checks. This is neither an offer nor a guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you are offered could be subject to different conditions.
You may apply for a business loan if you:
The application process is fast and easy. Just complete the online application in few minutes and a dedicated business lending specialist will call you to help you.
For a loan of up to $100,000, you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent as well as 12 months of bank records, IRD statement, last 2 years finalised financial statements, and interim current financial year financials including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour if you make your application within quality company timings and allow us to utilise the bank verification system link to instantly verify your bank details online. If you choose to upload copies of your bank statements we can offer an answer within an business day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to offer you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this can be quicker based upon the circumstances for each application. Certain offers have been approved within 24 hours.
The most effective method for you to apply is ensure you apply during standard company hours. You can also allow us to use the advanced bank verification system link to instantly verify your bank account information online. If you opt to send us duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer a response in one hour, provided you make your application in normal business times and permit us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements, we are able to provide a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K and up) we may be capable of offer you with conditional pre-approval within about six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Some offers have been approved within the space of 24 hours.
The quickest method would be to make sure you apply during standard business hours. Also, allow us to use the advanced bank verification system to instantly check your bank’s information online. If you opt to upload copies of your bank accounts, it may take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of variables for determining how much we can lend you health of your company as well as the amount of payments your business is able to afford. The amount you receive from your loan will depend on the specifics that are unique to your business.
If you apply for a set amount, we look at a range of variables to determine how much we can lend you such as health that is your business and the extent of the repayments your company will be able to support. The amount you receive from your loan will be determined by the particulars that are unique to your company.
When you make an application for one of our business credit, we will assess the risk profile 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 a loan that is priced upfront which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
The interest rates on company loans rates differ based on various factors such as the amount that is borrowed, the business assets the funds will be used for in addition to the industry that the business is operating in, how long the business has been in operation, what percentage of the business has enough cash flow to fund the loan, and overall well-being and creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll know exactly how much it is that you be required to pay, and when, starting from the day you sign up. There’s no compounding interest and no additional fees (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can choose to repay the entire amount of your loan in full at any time.
If you do decide to do this please speak to our friendly business credit specialists. The specialists will offer you with repayment details as well as an early payout amount. This is calculated as the sum of the remaining principal amount and any accrued interest at the date of early payout, plus 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow schedule, we offer repayments that are either daily or weekly. These are automatically withdrawn from your business account.
Making sure that your information is secure, and knowing how we collect information, use it, and exchange it, as well as safeguard your data, is of huge importance and is a crucial aspect of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our customers and security. We employ a highly sophisticated banking verification system to instantly verify your bank account information online so we can provide quick responses.
An asset-based loan is when an company owner utilises the assets they have to obtain the loan. The asset can be either a personal asset like the family home, or a company asset such as a truck or piece of equipment.
The majority of lending institutions, including the largest banks, are inclined to secure loans against an asset. If you’re struggling to pay back the loan then the asset might be sold by the lender. In essence it is an opportunity to secure new funding taking advantage of the value of what you already own.
For loans that exceed $150K, no asset security is required prior to the loan’s access However, we require a personal guarantee. need an individual guarantee. As long as you follow the terms of your loan (as stated in your loan contract) Asset security is not needed. For loans that exceed $150,000, generally there is personal ensure and security in the form a charge over assets.
