The eligibility requirements for an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K company loans.
All you need to begin is your contact details (company name, your name, email address and telephone), how much you want to borrow, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
After we start, for loans greater than $150,000 you’ll require the following financial statements:
Let’s get started now.
Perth unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes online or on the phone. You’ll receive a same day response and have the funds on your account within 24 hours. Traditional company loans refer to an annual interest rate together with additional fees and charges. This business loan is a loan that is priced upfront and you’ll know in advance the total amount payable including any interest, fees or charges. Then, it is broken down into either a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost every business purpose including managing cash flows, company remodels and marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To qualify for a loan of this size the company needs to be trading for at least 3 years, and have an annual income of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger business loan can be used to fund almost every company need, including company remodeling, buying equipment or inventory, as general working capital and so much more. The loan is not available for personal purposes.
Asset security is necessary to obtain funding above $150,000. It is usually by way of charge over assets, and could include the registration of this with the PPSR or the registration of a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is generally based rather than specifying the security of a specific asset. The person signing the guarantee is personally accountable if the company borrower is unable 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 goods or assets). The PPSR grants prioritisation over property that is personal to be assigned according to the date a registration of a security interest.
The caveat can be described as a formal document lodged to provide the public notice of a legal claim against a property.
If you’re seeking a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval in order to simplify the process. We could be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial well-being checks. It is not an offer or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you are offered could have different terms.
You may apply for a business loan if you;
The application process is fast and simple. Just fill out the online application within a couple minutes, and a dedicated company expert in lending will be in touch to assist you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Application details including credit consent and 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer within an hour if you apply in standard business time and let us utilise the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statement, we’ll offer a decision in just an business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer you with conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest method would be to ensure you apply during standard company hours. Also, allow us to use our advance bank verification to verify your bank information online. If you opt to send us duplicates of your banking statements , it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within one hour if you make your application in normal business times and you allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your bank statement, we’ll offer a decision in as little as 1 business day.
For Larger Business Loans ($100K to $500K) We may be capable of offer you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Some transactions have received approval in just 24 hours.
The fastest method can be make sure you apply during normal business hours and allow us to use our modern bank verification link to confirm your bank details online. If you decide to send us copies of your bank statement, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a particular amount, we consider a variety of elements that determine what is the health for your company and the level of payments your company is able to afford. The total amount of your loan will be contingent on the specific circumstances for your company.
If you apply for a specific amount we look at a range of variables to assess your health that is your business and the level of repayments your business is able to afford. The total amount of your loan will be contingent on the specific circumstances of your company.
If you decide to make an application for business loans with us business loans, we will assess the risk profile the business and provide you with a customised offer including the loan amount, the terms and the interest rates. The business loan is an upfront cost loan therefore you will be aware in advance of the total amount due, which includes any charges or interest.
Interest rates for business loans rates depend on several factors including the amount borrowed, the business assets the money are used to purchase, the industry the business operates in, how long the business has been in operation for, how long the company has sufficient cash flow to cover the loan, and also the overall health or creditworthiness of the business.
There aren’t any hidden costs with our company loans, and you’ll know exactly how much you need to pay, and when, starting from the day you sign up. There’s no compounding interest and there are no additional charges (as as you make your payments in time).
We don’t charge an application fee. You are able to get a cash loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee includes the expenses associated with the setting up and management of the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You may choose to pay back all of your loan early at any time.
If you choose to do this please speak to our friendly business credit professionals. The specialists will provide you with details on repayment as well as an early payout amount. It will be calculated using the total of the remaining principal amount plus any accrued interest as of the time of early payment and 1.5 percent of the remaining principal as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your company account.
The security of your personal information, as well as being upfront about the ways we gather, use, exchange and safeguard your data, is crucial and an integral element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to security for our customers and security. We use an advanced bank verification system that allows you to immediately verify your bank account information online, allowing us to provide a fast response.
Asset-based borrowing occurs when a business owner makes use of assets they own to get the funding. The asset may be an asset belonging to the personal, like the family home, or a company asset such as a vehicle as well as a piece of machine.
The vast majority of the lenders not just the big banks, tend 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 is a way of securing additional financing using the worth of the asset you already own.
Up to $150K in loans no asset security is required upfront to access the money but we require a personal guarantee. require the personal guarantee. As long as you follow your loan commitments (as specified in your loan contract) Asset security will never be needed. For loans that exceed $150,000, generally there is the option of a personal ensure and security in the form the charge of assets.
