Services in Lexia
- Lexia Unsecured Business Loans
- Lexia Business Finance
- Lexia Business Lending
- Business Loan Lexia
- Small Business Finance Lexia
- Business Funding Lexia
- Lexia Working Capital
- Lexia Small Business Lending
- Short Term Business Loan Lexia
The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are pretty minimal.
Do you need more money? Check out the eligibility requirements for our $100K to $500K company loan.
All you need to get started is your contact details (the name of your company and your name, as well as email, phone) along with the amount you want to borrow, as well as your monthly income.
Through 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 need 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 months. They also offer cash flow friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and funds may be in your account in 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. Our company loan is a cash-based loan which means you know in advance the total amount due, which includes the interest, fees and charges. This is then divided into weekly or daily amount to be paid back.
A Small Business Loan can be used to fulfill almost every business use, including managing cash flows, company improvements, advertising to purchase inventory, new equipment, or as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
To qualify for a loan that is this large, your business needs to have been in operation for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A larger company loan can be used for almost every business need, including business improvements, purchasing equipment or inventory, as general working capital and much more. The loan cannot be used for personal use.
Asset security is necessary for funding of more than $150,000. It is usually in the form of a charge against assets and can include registration with the PPSR or making as a caveat.
A personal or director’s ensure is a promise to repay a loan which is generally in nature rather than stipulating the security of a specific asset. The person who signs the guarantee is personally liable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a registration of a security interest.
The caveat can be described as a formal document filed to offer an official notice of a claim to property.
If you’re applying for an enterprise loan that is greater than $250K, we may offer a preliminary pre-approval to help simplify the process. We may be able to do this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial assessment, which involves the answer to a series of financial health checks. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you are offered could be based on different terms.
You are eligible to apply for an business loan if you:
The application process is quick and simple. Just complete the online application within a couple minutes, and a dedicated business expert in lending will be in touch to assist you.
To apply for up $100,000 you’ll require identification details (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, as well as interim financial statements for the current year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we can often offer an answer within an hour – as long as you submit your request within standard business timings and permit us to use the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your banking statement, we’ll offer a decision within just one company day.
For the Larger Business Loan ($100K or more) we may be in a position to offer you with a conditional pre-approval in about 6 hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The most efficient method would be to ensure you apply during normal company hours and permit us to use the advanced bank verification system to confirm your bank details online. If you choose to send us copies of your bank accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) we can often provide a response in one hour – provided you submit your request in standard business time and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statement, we’ll offer a decision within the span of one business day.
For the Larger Business Loans ($100K or more) we may be likely to provide you with pre-approval conditional to your application in about six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based on the specifics of each application. Certain agreements have been approved in just 24 hours.
The most effective method would be to ensure you apply during normal business hours and allow us to use the modern bank verification to instantly check your bank’s information online. If you choose to upload the copies of bank statements it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a certain amount we will consider a number of variables in order to assess what is the well-being of your company and the amount of the repayments your business can afford. The amount you receive from the loan will be determined by the particular circumstances for your company.
When you make an application for a certain amount, we consider a variety of elements to determine how much we can lend you such as health of your business as well as the amount of the repayments your business can support. The amount you receive from your loan will be contingent on the particular circumstances the business.
If you decide to make an application for one of our business loans, we’ll assess the risk profile of your company and provide you with a tailored offer that includes the amount of loan, the term and interest rates. It is a company loan is an upfront priced loan which means you be aware of the total amount to be paid, including any charges, interest rates or fees.
The interest rates on business loans rates vary due to variables like the amount to be borrowed, the business assets the money will be used for as well as the field the business is operating in, how long the business has been running and whether the company has enough cash flow to pay for the loan, and general health or creditworthiness of the business.
There aren’t any hidden charges with our company loans, and you’ll know precisely how much you need to pay and when, from the day you sign up. There’s no compounding and no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You are able to make an application for loans with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay the entire amount of your advance loan at any time.
If you decide to take this route, please speak to our friendly company loan professionals. The experts will provide you with the details of your repayment and an early payout figure. It will be calculated using the sum of the principal remaining and the accrued interest up to the time of the early payout, plus 1.5% of the remaining principal as well as any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow schedule, we offer repayments either daily or weekly. They will be automatically deducted from your designated business account.
The security of your personal information, as well as being upfront about how we collect data, process, exchange and ensure the security of your information is vital and a vital part of our relationship you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to protecting the security of clients and privacy. We make use of an advanced bank verification system to immediately confirm your bank account information online, allowing us to provide rapid response.
Asset-based borrowing occurs when the business owner utilises assets they own to make the funds for a loan. The asset may be an individual property, such as the family home, or it could be a business asset such as a truck as well as a piece of machine.
The vast majority of banks, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, then the asset could be offered for sale by the lender. In essence it is the process of securing additional financing taking advantage of the value of what you already have.
For loans that exceed $150,000, no asset security is required in advance to gain access to the funds However, we require a personal guarantee. require an individual guarantee. In the event that you fulfill your loan commitments (as stipulated in the loan contract) the security of assets is not required. If you take out loans in excess of $150,000 generally, there is personal ensure and security in the form of the charge of assets.
