Services in Boya
- Boya Unsecured Business Loan
- Business Finance Boya
- Boya Business Lending
- Boya Business Loan
- Small Business Finance Boya
- Business Funding Boya
- Working Capital Boya
- Boya Small Business Lending
- Boya Short Term Business Loan
The requirements for obtaining an unsecured business loan in Perth of between $5K and $100K is fairly low.
Looking for more funding? Review the conditions of eligibility for our $100K to $500K company loans.
All that is needed to start is your contact information (the name of your company, your name, email address and telephone), how much you’d like to lend, and your monthly earnings.
In the course of the process and before settlement we’ll require confirmation of your identity, but not to get started:
Additionally after we get started, for loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started now.
Perth unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
The application to your Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and have the funds in your account within 24 hours. Traditional business loans are based on an annual rate of interest plus other fees and charges. Our company loan is a cash-based loan which means you know ahead of time the total amount due, which includes any interest, fees or charges. This is then divided into weekly or daily payment amount.
A Small Business Loan can be used for almost any business purpose including the management of cash flow, business improvements, advertising for purchasing inventory or new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of with a maximum of 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount the company needs to have been operating for a minimum of 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Larger Business Loan can be used to fund almost every business use, including company renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan is not available for personal purposes.
Asset security is required for funding of more than $150,000. This is by way of charge over assets, and may include registration in the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is generally based rather than specifying the security for a particular asset. The person who is signing the guarantee is personally liable if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including the assets or goods). The PPSR gives priority over personal property to be assigned according to the date a security interest was registered.
A caveat is a legal document lodged to provide the legal claim to a property.
If you’re seeking the Larger Business Loan of $250,000 or more, we may offer a preliminary pre-approval to help simplify the process. We might be able to do this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health checks. It’s in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you receive could be subject to different terms.
You may apply for a company loan if you:
The application process is fast and easy. Just complete the online application in just a few minutes, and a dedicated company lending specialist will be in touch to guide you through the process.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s License) and a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K – $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) We can usually offer an answer within an hour – as long as you make your application at quality business time and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you decide to send us copies of your bank statements we can offer the decision in just an company day.
For the Larger Business Loan ($100K and up) we might be able to provide you with conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain offers have been approved in 24 hours.
The most effective method would be to ensure you apply during normal business hours. You can also let us use the advance bank verification to check your bank’s information online. If you choose to upload documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K and up) We can usually provide a response in one hour – provided you apply in standard business times and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements, we are able to offer the decision in just an business day.
For the Larger Business Loans ($100K up to $500,000) we may be capable of provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based upon the circumstances for each application. Certain offers have been approved within just 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours and permit us to use the modern bank verification link to instantly verify your bank account information online. If you decide to send us documents from your account statements it takes a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a certain amount we look at a variety of elements for determining how much we can lend you well-being that is your company and the level of payments your company will be able to support. The total amount of your loan will depend on the specifics for your business.
If you apply for a particular amount, we look at a range of elements to assess how much we can lend you such as well-being of your business and the extent of the repayments your company will be able to support. The total amount of your loan will be determined by the particulars the business.
If you decide to request one of our company loan, we’ll assess the risk assessment that you have for your company and provide you with a tailored offer, including the amount of loan, the term and the interest rates. It is a business loan is an upfront cost loan which means you be aware of the total amount due, which includes any interest rates, fees or charges.
Business loan interest rates vary due to factors including the amount borrowed, what business assets the funds are used to purchase, the industry the business operates in, the long the business has been running as well as how long the company has sufficient cash flow to fund the loan, as well as the general well-being or financial standing of the business.
There are no hidden fees for our company loans. You’ll know precisely what you’ll be required to pay and at what time, from the very first day. There’s not any compounding interest and no additional fees (as as you make your payments in time).
We do not charge an application fee. You are able to get a cash loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can decide to repay the total amount of your loan in full at any time.
If you are deciding to pursue this option, please contact our helpful company credit specialists. They will offer you with details for repayment and an early payout figure. This will be calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payout in addition to 1.5% of the remaining principal and any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow cycle we provide payments that are either daily or weekly. They are automatically deducted from the nominated business account.
Making sure that your information is secure, and being clear about how we collect, use, exchange and secure your information, is of huge importance and a vital aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We employ a highly sophisticated banking verification system to instantly verify the bank account details online to offer an immediate response.
The term "asset-based" refers to borrowing where an business owner makes use of an asset they own to make the loan. The asset can be either an individual property, such as the family home or an business asset like a truck as well as a piece of machine.
The majority of banks, including the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan, the asset could be transferred to the lender. In essence, it’s the process of securing new financing by making use of the value of what you already have.
For loans that exceed $150,000, there is no requirement for asset security before you can access the money However, we require a personal guarantee. need the personal guarantee. As long as you follow the loan terms (as specified in your loan contract document) and you are able to meet your obligations, asset security is not needed. For loans of over $150,000 generally, you can get personal ensure and security in the form an asset charge.
