The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the eligibility requirements for our $100K-$500K company loans.
All that’s needed to get started is your contact information (the name of your company, your name, email address, phone) along with the amount you’d like to borrow, and your monthly revenue.
During the process and before settlement we’ll need confirmation of who you are, but not for starting:
After we start in the process, for loans over $150,000 you will also require fundamental financial statements:
Let’s get started.
Perth unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and funds may be on your account within 24 hours. Traditional company loans are based on an annual interest rate as well as other fees and charges. The business loan is a cash-based loan so you will know ahead of time the total amount to be paid, including any interest, fees or charges. This is then broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually any business use, including managing cash flows, business remodels and marketing, to purchase inventory or new equipment, for general working capital, and much more. The loan is not available 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 fixed-term up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount, your business needs to be trading for at least 3 years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have 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 for nearly all business use, including company renovations, purchase of inventory or new equipment or as general working capital, and much more. The loan is not available for personal use.
Asset security is needed to access funding over $150,000. This is by taking a charge over assets, and may be registered through the PPSR or registering a caveat.
A personal or director’s ensure is a commitment to repay a loan which is general in nature rather than stating the security of a specific asset. The person who signs the guarantee is personally liable in the event that the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR gives priority over personal property to be granted in accordance with the date on which a security interest that is registered.
The caveat can be described as a formal document filed to provide the legal claim to property.
If you’re applying for the Larger Business Loan of more than $250K we can 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 evaluation that involves you answering a few financial health questions. It’s not an offer or guarantee of funds. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you might receive could be based on different terms.
You are eligible to apply for a company loan if you:
The application process is fast and easy. Complete the online form in few 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 proof of identity (valid Driver’s License) as well as a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statements, last 2 years finalised financial statements, and interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) We can usually offer an answer within one hour if you submit your request during standard business time and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statement, we’ll offer an answer in as little as 1 company day.
For Larger Business Loans ($100K up to $500,000) we may be capable of provide you with conditional pre-approval in about 6 hours. After you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Certain offers have been approved in the space of 24 hours.
The most effective method would be to ensure you apply during standard business hours and let us use the modern bank verification to instantly confirm your bank details online. If you upload copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer in just one hour, provided you submit your request during standard business time and you allow us to use the bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to provide the decision in just an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be likely to provide you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Certain offers have been approved in the space of 24 hours.
The fastest method is to ensure you apply during standard business hours and let us use the advance bank verification link to confirm your bank details online. If you choose to upload duplicates of your banking statement, it takes a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a specific amount we take into consideration a range of factors for determining how much we can lend you well-being that is your company as well as the amount of the repayments your company can support. The total amount of the loan will be determined by the specifics the company.
When you apply for a set amount, we take into consideration a variety of aspects to assess how much we can lend you such as well-being for your business and the amount of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the specifics that are unique to your company.
When you apply for our company credit, we’ll assess the risk profile of your company and offer you with a customised offer including the amount of loan, the term and interest rates. A company loan is an upfront priced loan therefore you will be aware in advance of the total amount payable including any charges or interest.
Interest rates for business loans rates vary due to factors including the amount of money borrowed, the company assets the money will be used for and the sector the business is in, how long the company has been operating as well as what percentage of the business has sufficient cash flow to fund the loan, and also the general health as well as creditworthiness business.
There are no hidden fees for our company loans, and you’ll know exactly how much you be required to pay, and when, from day one. There’s no compounding interest and no extra fees (as long as you are able to make your payments in time).
We do not charge an application fee. You can get a cash loan with without any upfront costs or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can decide to repay the total amount of your loan early at any time.
If you choose to pursue this option, please speak to our friendly business loans experts. They will provide you with the details of your repayment along with an early payout estimate. This is calculated as the total of the principal balance and the accrued interest up to the time of early payment in addition to 1.5% of the principal remaining as well as any outstanding fees.
To ensure that you don’t miss due dates and also to be in line with your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your nominated company account.
Protecting your information, and making it clear how we collect the information we collect, use, share and protect your information, is of huge importance and is an essential element of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and security. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account details online, allowing us to provide rapid response.
Asset-based borrowing is when an company owner borrows from an asset that they own to obtain the loan. The asset may be an individual asset, such as the family home or a company asset such as a vehicle or piece of equipment.
The vast majority of banks, not just the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan, your asset may be transferred to the lender. In essence it’s the process of securing new financing by using the value of what you already have.
For loans of up to $150,000, there is no requirement for asset security upfront to access the money However, we do need an individual guarantee. As long as you follow your loan commitments (as stated in your loan contract) Asset security will never be required. For loans over $150,000 generally there is the option of a personal guarantee and security in the form charges on assets.
