The eligibility requirements for an unsecured business loan in Perth of between $5K to $100K are quite minimal.
Need more funds? Check out the guidelines for eligibility for our $100K to $500K company loan.
All that’s required to get started is your contact details (the name of your company and your name, as well as email or phone number), how much you’d like to borrow and your monthly revenue.
During the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
After we start with loans of more than $150,000 you will also need fundamental financial statements:
Let’s get started.
Perth unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
Apply to get your Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and funds may be in your account within 24 hours. Traditional company loans have an annual interest rate along with other charges and fees. We offer a company loan is an upfront priced loan so you will be aware of the amount you will have to pay, including the interest, fees and charges. This is then divided into weekly or daily repayment figure.
The Small Business Loan can be used to fulfill almost every company purpose including the management of cash flow, company 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 size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be operating for a minimum of 3 years and have an annual turnover of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A larger business loan can be used to fund almost all business purpose including business remodeling, buying inventory or new equipment as well as for general working capital, and much more. The loan is not available for personal reasons.
Asset security is necessary for accessing funds over $150,000. This can be done by way of charge on assets, which could also include registering this in the PPSR or filing a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is generally in nature rather than defining security over an asset. The person signing the ensure is personally accountable if the business borrower is unable to re-pay the debt.
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 items or assets). The PPSR gives prioritisation over property that is personal to be assigned in accordance with the date on which a security interest has been registered.
Caveats are legal document that is filed to offer notice of a legal claim to a property.
When you’re applying for an enterprise loan that exceeds $250K we may be able to provide a preliminary pre-approval to help ease the process. We may be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial health questions. It’s not an offer of credit or guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer that you might receive could be based on different conditions.
You may be eligible for an business loan if you
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated company credit specialist will call you to assist you.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K-$250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details for application including credit consent twelve months of bank statements, IRD statements Last 2 years’ finalised financial statements, in addition to interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we typically provide a response in one hour if you submit your request during standard business times and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you opt to send us copies of your bank statement, we’ll provide the decision within just 1 business day.
If you are applying for a Larger Business Loan ($100K or more) we might be capable of provide the conditional pre-approval in about six hours. After you’ve signed your pre-approval document, you will need to wait around 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain deals have been approved within less than 24 hours.
The most efficient method is to make sure 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 send us duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer in just one hour, provided you apply at standard business time and allow us to use the advanced bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statement, we’ll provide a decision within 1 business day.
For the Larger Business Loans ($100K and up) We may be able to provide you with a 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 this may be quicker depending upon the circumstances for each application. Some offers have been approved in just 24 hours.
The fastest method would be to make sure you apply during standard business hours. Also, allow us to use our advanced bank verification system to instantly confirm your bank details online. If you choose to upload duplicates of your banking accounts, it will take a little longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a specific amount we will consider a number of factors for determining the health of the business and the level of payments your company can afford. The amount you receive from the loan will be determined by the particular circumstances the business.
When you submit an application for a set amount, we look at a range of aspects to assess the well-being of your company as well as the amount of the repayments your company can support. The amount you receive from your loan will depend on the particulars that are unique to your business.
If you decide to apply for our company financing, we will assess the risk profile for your company and offer an individualised offer including loan amount, term and the interest rates. It is a company loan is an upfront-priced loan and you’ll know in advance the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for business loans rates depend on a variety of factors such as the amount that is borrowed, what business assets the funds will be used for as well as the field the business is in, how long the company has been running and in the event that the business has sufficient cash flow to cover the loan, and general well-being or financial standing of the company.
There aren’t any hidden costs for our business loans, and you’ll know precisely how much you be required to pay and when, right from the first day. There’s not any compounding interest and there are no additional charges (as long as you are able to make your payments in time).
We don’t charge an application fee. You are able to make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the entire amount of your loan at any point in time.
If you decide to do this please speak to our friendly business credit specialists. They will offer you with details for repayment and an early payout figure. The figure will be 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 remaining and any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your designated business account.
Protecting your information, and being clear about the ways we gather, use, exchange and protect your information, is vital and is a crucial aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We make use of an advanced bank verification system to instantly confirm your bank account information online to provide quick responses.
An asset-based loan is when an company owner borrows from an asset they own to obtain the funding. The asset could be a personal asset like the family home, or it could be a business asset such as a vehicle or other piece of machinery.
The majority of lenders, even the major banks, prefer to secure loans against an asset. If you’re struggling to pay back the loan, the asset might be sold by the lender. In essence, it is means of securing new financing by taking advantage of the value of what you already own.
For loans of up to $150,000, the requirement for asset security is not required prior to the loan’s access however, we require a personal guarantee. need an individual guarantee. In the event that you fulfill the terms of your loan (as specified in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans of over $150K generally, there is an individual guarantee and security in the form of the charge of assets.
