The requirements for obtaining an unsecured business loan in Sydney of between $5K and $100K is fairly low.
Do you require more money? Check out the eligibility requirements for our $100K-$500K business loan.
All you need to get started is your contact information (the name of your company, your name, email or phone number), how much you’d like to borrow and your monthly income.
While in the process and before settlement we will need confirmation of your identity, but not before we can begin:
In addition, once we have started, for loans over $150,000 you’ll also require the following financial statements:
Let’s get started.
Sydney unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and have the funds available in just 24 hours. Traditional business loans reference an annual rate of interest along with other charges and fees. Our company loan is an upfront priced loan which means you be aware in advance of the total amount due, which includes any interest, fees or charges. This is then broken down into weekly or daily amount to be paid back.
A Small Business Loan can be used for virtually every company reason, such as the management of cash flow, company remodels and marketing to purchase inventory, new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To be eligible for a credit in this amount, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger business loan can be used for nearly any business purpose including company remodeling, buying equipment or inventory as well as for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It is usually in the form of a charge against assets, and could be registered with the PPSR or registering a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is generally based rather than stipulating security over a particular asset. The person who is signing the ensure is personally accountable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR grants priority over personal property to be assigned in accordance with the date on which a security interest was registered.
A caveat is a legal document that is filed to provide notice of a legal claim against a property.
If you’re applying for larger business loans of more than $250,000 it’s possible to offer a preliminary pre-approval to help smooth out the process. We might be able to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial health checks. This is neither an offer nor a guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you are offered could be subject to different conditions.
You are eligible to apply for an company loan if you
The application process is quick and simple. Just fill out the online application in just a few minutes, and a dedicated company loan specialist will call you to guide you.
For a loan of 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 of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent twelve months bank statement, an IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) We can usually provide an answer within one hour, provided you make your application during standard business times and permit 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 statements , we’ll be able to offer a decision within just one business day.
If you are applying for a Larger Business Loan ($100K or more) we may be likely to provide you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some transactions have received approval within 24 hours.
The fastest way can be ensure you apply during standard business hours. Also, allow us to use our modern bank verification to verify your bank information online. If you opt to upload duplicates of your banking statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often provide an answer in just one hour – provided you make your application during normal business time and permit us to use the bank verification system to immediately verify your bank account information online. If you decide to submit copies of your bank statement, we’ll provide an answer in just the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we could be in a position to offer you with pre-approval conditional to your application in about six hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Certain offers have been approved within 24 hours.
The fastest method is to make sure you apply during standard business hours and allow us to use our modern bank verification to instantly confirm your bank details online. If you choose to upload the copies of bank statements, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of elements that determine the well-being of the business and the level of repayments your company will be able to support. The total amount of your loan will be contingent on the specifics the company.
When you apply for a set amount, we take into consideration a variety of factors to assess your health of your company and the level of the repayments your business can afford. The total amount of your loan will be contingent on the specifics the company.
When you apply for the business loan, we will assess the risk profile the business and provide you with a customised offer that includes loan amount, term and interest rates. This company loan is an upfront cost loan therefore you will know in advance the total amount due, which includes any charges, interest rates or fees.
Business loan interest rates depend on several factors such as the amount that is of money borrowed, the business assets the funds are used to purchase in addition to the industry that the company operates in, the long the business has been operating, whether the business has sufficient cash flow to pay for the loan, as well as the general well-being as well as creditworthiness company.
There are no hidden fees with our business loans, and you’ll be aware of the amount you need to pay and at what time, from day one. There’s no compounding and no extra fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You can apply for a loan with no cost upfront or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the entire amount of your loan at any point in time.
If you are deciding to take this route, please talk to one of our helpful company loan professionals. We will offer you with details on repayment along with an early payout estimate. The figure will be calculated as the total of the principal amount remaining and any accrued interest at the time of the early payout plus 1.5% of the principal remaining plus any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from the nominated company account.
Security of your data, and being transparent about how we collect information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We utilise a sophisticated banking verification system to instantly confirm your bank account information online. This allows us to offer a fast response.
Asset-based borrowing occurs when a business owner utilises an asset they own to make the loan. The asset can be an individual asset, such as the family home or it could be a company asset such as a truck or piece or equipment.
The majority of lenders, even the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan, the asset might be taken over by the lender. In essence, it is means of securing new financing taking advantage of the value of what you already own.
For loans that exceed $150K, it is not necessary to secure assets before you can access the money However, we do require an individual guarantee. As long as you follow your loan commitments (as specified in your loan contract) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150,000 generally, you can get a personal guarantee and security is provided in the form of an asset charge.
