The eligibility requirements for an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Need more funds? Review the guidelines for eligibility for our $100K to $500K company financing.
All you need to begin is your contact details (company name, your name, email and telephone), how much you’d like to lend, and your monthly income.
During the process and before settlement we’ll require confirmation of who you are, but not for starting:
In addition, once we have started, for loans over $150,000 you’ll require the following financial statements:
Let’s get started.
Sydney unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
The application for this Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and the money could be in your account in 24 hours. Traditional business loans are based on an annual interest rate together with additional fees and charges. Our company loan is a pre-paid loan so you will know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into either weekly or daily payment amount.
It is a Small Business Loan can be used for almost every business need, such as control of cash flow business remodeling, marketing to purchase inventory, new equipment, as general working capital and 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 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To qualify for a loan of this size the company needs to be in operation for at least 3 years and generate an annual revenue of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large company loan can be used to fund almost every business use, including business renovations, to purchase equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is required for funding of more than $150,000. This can be done by taking a charge over assets, and could include the registration of this with 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 defining security over a particular asset. The person who signs the guarantee is personally accountable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR permits the priority of personal property assigned depending on the date that a 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 an enterprise loan of more than $250K, we may offer an initial pre-approval to ease the process. We might be able to get this done without a credit verification and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves the answer to a series of financial well-being checks. This is neither an offer nor a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you might receive could be based on different terms.
You are eligible to apply for a company loan if you:
The application process is quick and easy. Simply complete the online form in few minutes and an experienced company credit specialist will be in touch to assist you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, and interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K to $100K) we can often provide a response in one hour – as long as you submit your request during quality business time and permit us to utilise the bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your bank statement, we’ll provide the decision within 1 company day.
For Larger Business Loans ($100K and up) we may be capable of provide you with conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this can be quicker based upon the circumstances for each application. Some agreements have been approved within less than 24 hours.
The quickest way to apply can be ensure you apply during normal company hours and allow us to use the modern bank verification link to check your bank’s information online. If you choose to send us the copies of bank accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer a response in one hour – provided you submit your request at normal business time and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements, we are able to provide an answer in just 1 business day.
If you are applying for Larger Business Loans ($100K or more) we might be likely to provide you with pre-approval conditional to your application within 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 upon the circumstances for each application. Certain offers have been approved in just 24 hours.
The quickest method is to make sure you apply during normal business hours. You can also permit us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to send us documents from your account statements it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a certain amount, we look at a variety of elements to determine how much we can lend you health that is your business and the extent of the repayments your company can afford. The total amount of your loan will depend on the specific circumstances that are unique to your company.
If you apply for a specific amount we look at a range of aspects to determine how much we can lend you such as health that is your business and the extent of the repayments your business is able to afford. The total amount of your loan will depend on the specifics for your business.
If you decide to request the company loans, we’ll assess the risk assessment of your company and offer an individualised proposal that includes the amount of the loan, the duration and interest rates. A business loan is an upfront cost loan so you will know in advance the total amount to be paid, including 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 company assets the money will be used for in addition to the industry that the company is operating in, how long the company has been running and whether the business has enough cash flow to fund the loan, as well as the overall health and creditworthiness of the business.
There aren’t any hidden charges with our business loans. You’ll know precisely what you need to pay and when, right from the day you sign up. There’s no compounding interest, and no additional fees (as as you make your payments in time).
We do not charge an Application Fee. You are able to apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved in establishing and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can choose to repay the total amount of your advance loan at any time.
If you choose to do this please contact our helpful company credit specialists. The specialists will offer you with details for repayment and an early payout figure. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payment, plus 1.5% of the principal amount remaining as well as any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Protecting your information, and being clear about how we collect, use, exchange and safeguard your data, is of paramount importance and is an essential element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We employ an exceptionally sophisticated bank verification system to immediately confirm your bank account information online. This allows us to offer a fast response.
The term "asset-based" refers to borrowing where an business owner utilises assets they own to obtain the funds for a loan. The asset may be a personal asset like the family home or it could be a company asset such as a vehicle or piece or equipment.
The vast majority of the lenders even the big banks, tend to make loans secured by assets. If you have trouble paying back the loan, then your asset may be taken over by the lender. In essence, it is means of securing new financing using the worth of the asset you already have.
For loans of up to $150K, no asset security is required in advance to gain access to the funds, however we do need an individual guarantee. As long as you follow the loan terms (as specified in the loan contract) Asset security is not needed. For loans that exceed $150K, generally, there is a personal guarantee and security is provided in the form of a charge over assets.
