How to borrow
We’ve made applying for a loan as simple as we can by using smart technology. There are two things you’ll need to complete an application:
- We need to identify the person submitting the application. We do this automatically online. All the applicant will need is their ID numbers.
- We need at least 90 days of business bank statements. You must have internet banking for your business bank account as these are submitted to us digitally within the application.
Once you’ve been approved and signed your contract, we release your funds. Most bank accounts are NPP enabled, which means you’ll have your funds in 60 seconds. For non NPP enabled banks, you’ll have your funds overnight.
It is free to submit an application to Sixpence. We treat every application on it’s merits as we understand that every business is different and the same loan or rate will not suit every business. We have a risk based approach to our loan rates. Once we have assessed your application, we will provide a full breakdown of all fees and charges related to what loan we can offer you.
Our 100% online application takes about 8mins to complete. We’ll let you know at the end of the application if we think we can help you or not. If we think we can help you, we’ll generally get back to you the same day you have applied with an approval offer.
To qualify for a business loan with Sixpence, you will need to meet the following:
- You must be an Australian business
- Your annual turnover must be at least $120k
- You must have been trading for at least 6 months
We provide loans from $5k to $50k with terms ranging from 3 months to 24 months.
We include both business and personal credit scores in our assessment of risk. However, credit scores play a small role in our creditworthiness decision making. Current business performance is one of the main factors taken into account.
Yes, you may access your account online via our existing customer portal.
In certain circumstances you may top up your loan. Contact us to find out more about topping up your loan.
Repayments
Your loan repayments are set up monthly. Generally, loan repayments are repaid via Direct Debit. Through your online portal, you will be allowed to make additional payments via debit card or direct deposit.
Security
Protecting your information, and being clear about how we collect, use, exchange and protect your information, is of huge importance and a vital part of our relationship with you. View our Privacy Policy.
Sixpence considers the health of a business to determine its creditworthiness. We offer both unsecured and secured business loans depending on the individual circumstance of the business submitting the application for funding.
Yes. We use industry recognised encryption standards to protect your personal, sensitive and financial data and are ISO27001 certified, validating our commitment to customer data security and privacy. We use an advanced bank verification system link to instantly verify your bank account information online so we can provide a fast response.
The faster and easier way to fund your business
