The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Looking for more funding? Check out the guidelines for eligibility for our $100K to $500K company financing.
All you need to begin is your contact information (company name and your name, as well as email or phone number), how much you want to borrow, and your monthly earnings.
During the process and before settlement we’ll need confirmation of who you are, but not to get started:
Once we’ve started, for loans greater than $150,000 you will also require basic financial statements.
Let’s get started now.
Sydney unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes over the phone, receive an instant response and the funds could be in your account in 24 hours. Traditional company loans reference an annual interest rate together with additional fees and charges. We offer a company loan is a loan that is priced upfront therefore you’ll be aware of the total amount payable including any fees, interest or charges. Then, it is broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually any company purpose including control of cash flow business improvements, advertising to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 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 loan amount.
To qualify for a loan in this amount, your company needs to be operating for at least three years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger business loan can be used to fund almost any business use, including business remodeling, buying inventory or new equipment as well as for general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for accessing funds over $150,000. It’s in the form of a charge against assets and can include registering this in the PPSR or registering as a caveat.
A director’s or personal ensure is a promise to repay credit that is generally in nature rather than specifying the security for a particular asset. The person who signs the ensure is personally responsible if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR gives preference over private property granted according to the date the security interest has been registered.
A caveat is a legal document filed to provide an official notice of a claim on a property.
When you’re applying for larger business loans that is greater than $250,000 it’s possible to offer a preliminary pre-approval to help simplify the process. We may be able to make this decision without a credit verification and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial well-being checks. It’s not an offer or guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you are offered could be on different conditions.
You may be eligible for a business loan if you
The process for applying is fast and easy. Just complete the online application within a few minutes and an experienced business loan specialist will contact you to help you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License) along with an active NZBN/IRD, and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent twelve months bank statement, an IRD statements, last 2 years finalised financial statements, as well as interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K or more) we typically offer an answer within an hour if you submit your request at standard company times and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statement, we’ll offer an answer in just an company day.
For the Larger Business Loan ($100K or more) we may be likely to offer the conditional pre-approval in around six hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain transactions have received approval within 24 hours.
The quickest method would be to make sure you apply during normal business hours and let us use the advance bank verification link to verify your bank account information online. If you send us documents from your account statements it takes a bit longer.
For the Small Business Loan ($5K to $100K) we can often provide a response in one hour – as long as you make your application at standard business timings and let us use the bank verification system to immediately verify your bank account information online. If you want to submit copies of your bank statements, we’ll be able to provide a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K and up) we could be likely to offer you with a conditional pre-approval within about six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain offers have been approved within the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and permit us to use the advance bank verification to instantly confirm your bank details online. If you choose to upload duplicates of your banking statements it may take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we will consider a number of elements for determining how much we can lend you well-being for your company and the amount of repayments that your company can support. The amount you receive from your loan will depend on the specifics for your business.
When you make an application for a set amount, we will consider a number of aspects to determine the well-being that is your company and the amount of the repayments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances that are unique to your company.
If you decide to request one of our business loan, we will assess the risk profile for your business and provide you with a customised offer that includes the amount of the loan, the duration and interest rates. The company loan is an upfront cost loan which means you be aware in advance of the total amount payable including any costs, fees, or interest rates.
Business loan interest rates depend on several factors including the amount that is borrowed, what business assets the money are used to purchase and the sector the business is operating in, how long the business has been operating for, how long the company has sufficient cash flow to support the loan, and the general well-being or financial standing of the company.
There are no hidden fees for our company loans. You’ll know exactly how much you’ll need to pay and when, right from day one. There’s no compounding interest, and no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can apply for a loan with no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the entire amount of the loan early at any time.
If you do decide to take this route, please contact our helpful company lending professionals. They’ll offer you with the details of your repayment along with an early payout estimate. It will be calculated using the total of the principal balance and any accrued interest at the time of early payment plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To ensure you do not miss repayments and to fit in with your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your company account.
Security of your data, and making it clear how we collect the information we collect, use, share and safeguard your data, is crucial and is an essential element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We employ an exceptionally sophisticated bank verification system that allows you to instantly verify your bank account information online so we can offer rapid response.
Asset-based borrowing occurs when an business owner uses the assets they have to obtain the loan. The asset can be a personal asset like the family home, or an company asset like a truck or piece of equipment.
The vast majority of lenders, even the largest banks, are inclined to guarantee loans against an asset. If you’re struggling to pay back the loan, your asset may be transferred to the lender. In essence, it is the process of securing additional financing making use of the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security before you can access the money however, we do require a personal guarantee. As long as you follow your loan commitments (as specified in your loan contract document) the security of assets is not required. For loans over $150,000 typically, you will need an individual guarantee and security that is in the form an asset charge.
