The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Do you need more money? Find out the conditions of eligibility for our $100K to $500K business loan.
All you need to begin is your contact details (company name, your name, email address and phone) along with the amount you’d like to borrow and your monthly revenue.
Through the process and before settlement we will require confirmation of who you are, but not for starting:
Once we’ve started, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started now.
Perth unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
Apply to get the Small Business Loan in under 10 minutes via the internet or over the phone, receive an instant response and the funds could be available in just 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. Our business loan is a loan that is priced upfront which means you be aware in advance of the total amount payable including any fees, charges or charges. Then, it is divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used for nearly every business use, including managing cash flows, company remodels and marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size, your business needs to have been operating for at least three years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Business Loan of a larger size can be used to fund almost all company purpose including business remodeling, buying equipment or inventory for general working capital and much more. The loan is not available for personal purposes.
Asset security is needed to access funding over $150,000. It is usually as a result of an charge over assets, which could also include registering this with the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is general in nature, rather than defining the security of a specific asset. The person signing the guarantee is personally accountable if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests that are registered for personal property (including objects or assets). The PPSR permits preference over private property granted in accordance with the date on which a security interest was registered.
Caveats are legal document lodged to provide the public notice of a legal claim to a property.
If you’re requesting larger business loans of more than $250K, we may offer an initial pre-approval to smooth out the process. We may be able to apply for this without a credit check and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial well-being questions. It is neither an offer nor a guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you may receive may be on different conditions.
You can apply for a company loan if you:
The application process is quick and easy. Simply complete the online form within a couple minutes, and a dedicated business expert in lending will call you to guide you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) we typically offer a response in one hour, provided you submit your request during standard company times and permit us to make use of the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements we can offer a decision in just an company day.
For the Larger Business Loan ($100K or more) we may be likely to offer you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Some agreements have been approved in 24 hours.
The most efficient method for you to apply is make sure you apply during normal business hours. Also, let us use the advance bank verification link to verify your bank information online. If you decide to send us duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer within an hour if you apply at standard business time and let us use the bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements we can offer a decision in as little as the span of one business day.
For the Larger Business Loans ($100K and up) we might be able to offer you with a conditional pre-approval within about six hours. Once you’ve signed your pre-approval document, you will need to wait around 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain agreements have been approved within just 24 hours.
The fastest way can be ensure you apply during standard business hours, and allow us to use our advance bank verification link to verify your bank information online. If you send us duplicates of your banking statement, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount, we look at a variety of variables for determining the well-being of your business and the level of repayments that your business can support. The amount you receive from your loan will be contingent on the specifics that are unique to your business.
When you submit an application for a particular amount, we will consider a number of elements to determine your health that is your company and the amount of the repayments your company will be able to support. The total amount of your loan will depend on the specifics the company.
If you decide to request business loans with us company loans, we’ll assess the risk assessment that you have for your company and offer an individualised offer including the amount of the loan, the duration and the interest rates. A business loan is a loan that is priced upfront and you’ll know the exact amount due, which includes any charges or interest.
Business loan interest rates vary due to factors such as the amount that is borrowed, the business assets the funds are used to purchase as well as the field the company is operating in, how long the company is in operation as well as what percentage of the company has enough cash flow to fund the loan, and overall well-being or financial standing of the business.
There are no hidden costs for our company loans, and you’ll know precisely what you’ll need to pay, and when, from the very first day. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments on time).
We do not charge an application fee. You are able to apply for a loan with no cost upfront or the obligation to take action.
The Origination Fee covers the costs associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can choose to repay all of your loan at any point in time.
If you decide to take this route, please talk to one of our helpful company credit experts. The professionals will provide you with repayment details and an early payout figure. This is calculated as the total of the remaining principal amount and any accrued interest at the time of early payout and 1.5 percent 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 schedule, we provide repayments either weekly or daily. They are automatically deducted from your designated company account.
Protecting your information, and knowing the ways we gather, use, exchange and ensure the security of your information is of paramount importance and is a crucial element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We make use of an advanced banking verification system to immediately confirm your bank account information online, allowing us to offer a fast response.
Asset-based borrowing occurs when a business owner borrows from an asset that they own to obtain a loan. The asset could be an asset belonging to the personal, like the family home or it could be a business asset like a truck or other piece of machinery.
The vast majority of the lenders not just the largest banks, are inclined to guarantee loans against assets. If you’re struggling to pay back the loan, then the asset might be taken over by the lender. In essence, it’s an opportunity to secure additional financing using the value of what you already own.
For loans that exceed $150K, no asset security is required upfront to access the money, however we do need the personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract document), asset security will never be needed. For loans of over $150K typically, you will need personal ensure and security in the form a charge over assets.
