Services in Skye
- Skye Unsecured Business Loans
- Skye Business Finance
- Skye Business Lending
- Skye Business Loans
- Small Business Finance Skye
- Business Funding Skye
- Skye Working Capital
- Skye Small Business Lending
- Skye Short Term Business Loan
The criteria for eligibility for an unsecured business loan in Melbourne of between $5K to $100K are quite minimal.
Do you require more money? Take a look at the guidelines for eligibility for our $100K to $500K company loan.
All you need to begin is your contact details (company name, your name, email, phone) and the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
In addition, once we have started when it comes to loans that exceed $150,000, you’ll need fundamental financial statements:
Let’s get started now.
Melbourne unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments, which are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes via the internet or over the phone, receive an instant response and have the funds in your account within 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. This company 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 broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for nearly every business use, including cash flow management, company remodeling, marketing to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly depending on you cashflow.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
To qualify for a loan of this size, your business needs to be in operation for at least 3 years and generate an annual revenue of $700,000. You must be 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 demonstrate at minimum 12 months of business.
A large company loan can be used for nearly every business reason, such as company renovations, purchase of equipment or inventory or as general working capital and much more. The loan is not available for personal reasons.
Asset security is required to access funding over $150,000. This is by way of charge on assets and can include registering this on the PPSR or registering a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature rather than stipulating the security of a specific asset. The person signing the ensure is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including the assets or goods). The PPSR permits preference over private property granted according to the date a security interest that is registered.
A caveat is a legal document lodged to provide the public notice of a legal claim to property.
If you’re seeking a Larger Business Loan that is greater than $250K, we may offer a preliminary pre-approval to help make the process. We could be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial well-being questions. It is not an offer or guarantee of funds. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could be based on different conditions.
You may apply for an business loan if you:
The process for applying is fast and simple. Just complete the online application in few minutes and a dedicated company lending specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll also need:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent, 12 months of bank statements, IRD statement, last 2 years finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K or more) We can usually offer an answer within one hour, provided you make your application in quality company times and let us utilise the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements we can offer a decision in just 1 business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be in a position to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved in less than 24 hours.
The quickest method for you to apply is ensure you apply during normal company hours. Also, allow us to use our modern bank verification link to verify your bank information online. If you choose to upload copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer in just one hour if you submit your request during standard business timings and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statement, we’ll provide the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be in a position to provide you with conditional pre-approval within about 6 hours. After 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 circumstances of each application. Some offers have been approved in just 24 hours.
The most efficient method would be to make sure you apply during normal business hours, and permit us to use the modern bank verification link to instantly confirm your bank details online. If you opt to send us the copies of bank statement, it will take a little longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount we will consider a number of factors in order to assess your health of the business as well as the amount of payments your business can afford. The amount you receive from your loan will depend on the specific circumstances for your business.
When you make an application for a specific amount we consider a variety of aspects to determine your well-being of your business and the extent of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the specific circumstances the business.
When you make an application for one of our business credit, we will assess the risk assessment for your business and provide you with a customised offer that includes loan amount, term and interest rates. This company loan is an upfront-priced loan therefore you will know in advance the total amount payable including any charges or interest.
Business loan interest rates differ based on various factors like the amount of money borrowed, what business assets the funds are used to purchase as well as the field the business is in, how long the company has been running as well as how long the business has sufficient cash flow to fund the loan, and the general well-being and creditworthiness of the company.
There are no hidden costs for our business loans. You’ll know precisely how much you need to pay and at what time, from day one. There’s no compounding and no additional fees (as as you make your payments on time).
We don’t charge an Application Fee. You are able to apply for a loan without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of your advance loan at any time.
If you do decide to do this please talk to one of our helpful business loans experts. The specialists will provide you with the details of your repayment and an early payment figure. This will be calculated as the sum of the principal balance and any accrued interest at the time of early payment in addition to 1.5% of the principal balance as well as any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted 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 secure your information, is of paramount importance and is a crucial part of our relationship you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their privacy. We use an advanced banking verification system to immediately confirm your bank account information online to provide an immediate response.
Asset-based borrowing occurs when a company owner makes use of assets they own to obtain the loan. The asset can be either an individual asset, such as the family home, or an business asset like a truck or piece or equipment.
The majority of lending institutions, not just the big banks, tend to make loans secured by an asset. If you are having difficulty paying back the loan then your assets could be sold by the lender. In essence, it is means of securing new funding making use of the value of what you already own.
For loans up to $150,000 no asset security is required upfront to access the money, however we do require the personal guarantee. So long as you comply with your loan obligations (as specified in your loan contract) Asset security is not needed. If you take out loans in excess of $150,000 generally, there is personal ensure and security is provided in the form of a charge over assets.
