The requirements for obtaining an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Do you need more money? Check out the eligibility requirements for our $100K to $500K company loan.
All that is needed to get started is your contact details (company name, your name, email and telephone) and the amount you’d like to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of who you are, but not to get started:
In addition, once we have started with loans over $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Perth unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an answer within the same day and have the funds in your account in 24 hours. Traditional business loans reference an interest rate per annum along with other charges and fees. The company loan is a cash-based loan which means you know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into weekly or daily repayment figure.
The Small Business Loan can be used to fulfill almost every company need, such as the management of cash flow, company remodels and marketing to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly, depending on you cashflow.
The Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
To qualify for a loan that is this large, your business 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) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A Larger Business Loan can be used to fund almost all company need, including business renovations, to purchase equipment or inventory for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. It is usually in the form of a charge on assets and can include registering this in the PPSR or the registration of a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is generally in nature rather than specifying the security for a particular asset. The person who is signing the guarantee is personally liable in the event that the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including objects or assets). The PPSR allows prioritisation over property that is personal to be granted in accordance with the date on which a security interest was registered.
An affidavit is an official form of document to offer the public notice of a legal claim against a property.
When you’re applying for the Larger Business Loan that is greater than $250K we may be able to provide an initial pre-approval to make the process. We could be able to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial health checks. It’s in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer that you are offered could be subject to different terms.
You may apply for an company loan if you
The process for applying is fast and simple. Just complete the online application in few minutes and an experienced company loan specialist will be in touch to guide you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Information on the application including credit consent, 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) we typically provide an answer within an hour, provided you make your application at standard business hours and allow us to utilise the bank verification system link to immediately verify your bank account information online. If you decide to submit copies of your bank statements we can provide a decision within just an business day.
For the Larger Business Loan ($100K or more) we could be able to offer you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be quicker based on the specifics of each application. Certain offers have been approved in just 24 hours.
The fastest way would be to make sure you apply during normal business hours. You can also let us use the modern bank verification link to instantly check your bank’s information online. If you choose to upload copies of your bank statements , it can take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer in just one hour, provided you submit your request during standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statements, we are able to offer an answer in as little as the span of one business day.
For Larger Business Loans ($100K up to $500,000) We may be able to offer you with a conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Some deals have been approved within the space of 24 hours.
The fastest method would be to ensure you apply during normal business hours and allow us to use our sophisticated bank verification link to check your bank’s information online. If you decide to send us documents from your account statements, it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a specific amount we consider a variety of elements that determine the health for your company and the level of repayments your company can support. The amount you receive from your loan will depend on the particular circumstances the company.
If you apply for a certain amount, we take into consideration a variety of aspects to assess the well-being for your company and the amount of payments your company can afford. The total amount of the loan will be determined by the particular circumstances for your business.
If you decide to apply for one of our business credit, we’ll assess the risk assessment for your business and provide you with a customised proposal that includes the loan amount, the terms and the interest rates. A company loan is an upfront priced loan so you will be aware of the total amount to be paid, including any charges or interest.
The interest rates on business loans rates depend on several factors including the amount that is borrowed, what business assets the funds are used to purchase, the industry the company operates in, the long the company has been running and whether the business has enough cash flow to fund the loan, and the overall health as well as creditworthiness business.
There aren’t any hidden costs for our business loans, and you’ll know precisely what you’ll need to pay, and at what time, from day one. There’s no compounding interest, and no extra fees (as long as you make your payments punctually).
We don’t charge an application fee. You are able to get a cash loan absolutely no upfront cost and no commitment to apply.
The Origination Fee includes the expenses associated with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of the loan in full at any time.
If you are deciding to do this please talk to one of our helpful business loan experts. They will offer you with repayment details along with an early payout estimate. This is calculated as the total of the principal remaining and the accrued interest up to the time of early payment plus 1.5% of the principal amount remaining and any fees that remain unpaid.
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 withdrawn from your designated business account.
Making sure that your information is secure, and being transparent about the ways we gather information, use it, and exchange it, as well as protect your information, is of huge importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We use an advanced bank verification system to instantly verify your bank account details online. This allows us to provide rapid response.
The term "asset-based" refers to borrowing where the business owner makes use of an asset they own to obtain the loan. The asset may be an individual property, such as the family home or it could be a company asset like a truck or piece or equipment.
The majority of banks, including the largest banks, are inclined to secure loans against an asset. If you’re struggling to pay back the loan then the asset could be sold by the lender. In essence it’s the process of securing additional financing making use of the value of what you already own.
Up to $150K in loans the requirement for asset security is not required upfront to access the money However, we require a personal guarantee. need the personal guarantee. As long as you follow your loan commitments (as detailed in your loan contract document), asset security will never be needed. If you take out loans in excess of $150K generally there is a personal ensure and security is provided in the form of the charge of assets.
