The eligibility requirements for an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Looking for more funding? Review the guidelines for eligibility for our $100K to $500K company credit.
All that’s required to start is your contact information (company name, your name, email address and telephone), how much you’d like to lend, as well as your monthly income.
Through the process and before settlement we will need confirmation of your identity, but not before we can begin:
Additionally after we get started with loans of more than $150,000 you’ll also require basic financial statements:
Let’s get started.
Perth unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
The application for this Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and the money could be available in just 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. Our business loan is a pre-paid loan so you will know ahead of time the total amount due, which includes any interest, fees or charges. Then, it is broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly every business need, such as cash flow management, company remodeling, marketing to purchase inventory, new equipment, as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be operating for at least three years and have an annual turnover of at least $700K. The applicant must also be 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 demonstrate at least 12 months of trading.
A Larger Business Loan is a great option for almost every company need, including company renovations, purchase of inventory or new equipment or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. It is usually by way of charge on assets, which could also be registered with the PPSR or filing a caveat.
A director’s or personal ensure is a guarantee to repay credit that is general in nature, rather than stating security over an asset. The person signing the guarantee is personally accountable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including the assets or goods). The PPSR allows the priority of personal property assigned according to the date the security interest was registered.
An affidavit is an official document filed to provide the legal claim against a property.
When you’re applying for a Larger Business Loan that exceeds $250K we can offer an initial pre-approval to smooth out the process. We could be able to make this decision 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 of credit or guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer that you are offered could be subject to different terms.
You are eligible to apply for a business loan if you:
The process for applying is fast and easy. Complete the online form in just a few minutes, and a dedicated company expert in lending will be in touch to help you.
To apply for up $100,000 you’ll need ID details (valid Driver’s License), an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Application details including credit consent twelve months bank statement, an IRD statement, last 2 years finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we typically provide a response in one hour if you make your application at quality business timings and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your bank statements , we’ll be able to offer an answer within the span of one company day.
For the Larger Business Loan ($100K and up) we may be able to offer you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Certain offers have been approved within the space of 24 hours.
The quickest method for you to apply is make sure you apply during standard company hours and let us use the advanced bank verification system link to instantly verify your bank information online. If you decide to upload documents from your account statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we can often offer a response in one hour – provided you make your application during standard business time and permit us to use the bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll offer the decision in just the span of one business 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. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending upon the circumstances for each application. Some deals have been approved within 24 hours.
The fastest way would be to make sure you apply during standard business hours and allow us to use our advanced bank verification system link to instantly check your bank’s information online. If you decide to upload duplicates of your banking accounts, it may take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we look at a variety of factors to determine what is the well-being of the business and the level of repayments your business can afford. The total amount of your loan will be contingent on the specifics of your business.
When you make an application for a certain amount, we look at a range of factors to determine your well-being of your company and the level of repayments that your company can support. The amount you receive from your loan will depend on the specifics the company.
If you decide to make an application for one of our company loans, we’ll assess the risk assessment for your business and offer an individualised offer that includes the amount of the loan, the duration and the interest rates. It is a business loan is an upfront cost loan therefore you will know in advance the total amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates differ based on various factors like the amount of money that is borrowed, what business assets the funds will be used for in addition to the industry that the business is in, how long the business has been running and what percentage of the business has sufficient cash flow to pay for the loan, and general well-being as well as creditworthiness business.
There are no hidden fees for our business loans, and you’ll know precisely what it is that you need to pay, and at what time, from day one. There’s no 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 can make an application for loans without any upfront costs or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of your loan early at any time.
If you are deciding to take this route, please speak to our friendly company loans specialists. We will offer you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the remaining principal amount and the accrued interest up to the time of the early payout in addition to 1.5 percent of the principal balance and any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your company account.
Protecting your information, and being clear about how we collect the information we collect, use, share and secure your information, is vital and is an essential part of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We use an advanced bank verification system to instantly confirm your bank account information online so we can provide a fast response.
The term "asset-based" refers to borrowing where a company owner makes use of assets they own to make a loan. The asset can be an asset belonging to the personal, like the family home, or it could be a business asset like a truck or other piece of machinery.
The majority of lending institutions, not just the big banks, tend to guarantee loans against an asset. If you have trouble paying back the loan then the asset might be transferred to the lender. In essence it is a way of securing new financing taking advantage of the value of what you already have.
For loans up to $150K no asset security is required before you are able to access the money but we do require a personal guarantee. In the event that you fulfill the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K generally, there is an individual guarantee and security that is in the form a charge over assets.
