The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Do you need more money? Review the eligibility requirements for our $100K-$500K business financing.
All that’s required to get started is your contact information (company name, your name, email, phone), how much you’d like to borrow, and your monthly revenue.
Through the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
In addition, once we have started with loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started.
Perth unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
You can apply for the Small Business Loan in under 10 minutes over the phone. You’ll get an immediate response, and have the funds on your account within 24 hours. Traditional business loans are based on an annual rate of interest plus other fees and charges. Our business loan is a loan that is priced upfront so you will know in advance the total amount to be paid, including any interest, fees or charges. This is then divided into weekly or daily payment amount.
The Small Business Loan can be used for virtually every business reason, such as managing cash flows, business improvements, advertising to purchase inventory, new equipment, or as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan of this size, your business needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A larger company loan is a great option for almost any business purpose including business renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan is not available for personal use.
Asset security is necessary to access funding over $150,000. This can be done by taking a charge against assets, which could also include registering this in the PPSR or the registration of as a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is general in nature rather than stating the security for a particular asset. The person who signs the ensure is personally liable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR permits priority over personal property to be assigned depending on the date that a security interest has been registered.
An affidavit is an official document filed to provide the legal claim on a property.
If you’re applying for a Larger Business Loan that exceeds $250K we can offer an initial pre-approval to smooth out the process. We might be able to get this done without a credit check and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering a few financial well-being questions. It’s not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you might receive could be subject to different conditions.
You may be eligible for an company loan if you;
The application process is fast and simple. Complete the online form within a couple minutes, and an experienced business credit specialist will contact you to guide you.
To apply for up $100,000, you’ll require ID details (valid Driver’s License) and a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Details of 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 records, IRD statements as well as the two most recent years’ financial statements, and interim financials for the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within one hour, provided you submit your request at quality company time and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you decide to submit copies of your bank statements , we will be able to offer the decision in just one company day.
If you are applying for a Larger Business Loan ($100K to $500K) we might be capable of provide you with a conditional pre-approval in about 6 hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The most efficient method for you to apply is ensure you apply during standard company hours, and let us use the advance bank verification to instantly confirm your bank details online. If you upload copies of your bank statement, it takes a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within an hour – as long as you make your application within standard business hours and permit us to make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statements, we are able to provide the decision in just 1 business day.
For the Larger Business Loans ($100K or more) we may be able to provide the conditional pre-approval within six hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be faster depending upon the circumstances for each application. Certain transactions have received approval within less than 24 hours.
The quickest method would be to ensure you apply during standard business hours and allow us to use our sophisticated bank verification to instantly confirm your bank details online. If you choose to upload the copies of bank statements it may take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount we consider a variety of factors that determine your health of the company and the extent of repayments that your company is able to afford. The amount you receive from your loan will be contingent on the specifics the company.
When you make an application for a specific amount we look at a range of variables to assess your health that is your business and the extent of repayments that your business can support. The total amount of your loan will depend on the particular circumstances that are unique to your company.
If you decide to make an application for our business loan, we will assess the risk profile for your business and offer you with a customised offer including the loan amount, the terms and the interest rates. The company loan is an upfront priced loan therefore you will be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
The interest rates on company loans rates depend on a variety of factors including the amount borrowed, what business assets the funds will be used for and the sector the company is in, how long the company has been in operation as well as what percentage of the company has enough cash flow to support the loan, as well as the general health as well as creditworthiness company.
There are no hidden costs with our business loans. You’ll know precisely how much you need to pay and when, from the first day. There’s not any compounding interest and no extra fees (as long as you make your payments in time).
We don’t charge an application fee. You are able to make an application for loans without any upfront costs or the obligation to take action.
The Origination Fee is the cost associated with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You can decide to repay the total amount of your loan in full at any time.
If you choose to take this route, please speak to our friendly company lending specialists. They will provide you with repayment details and an early payout figure. The figure will be calculated as the total of the principal remaining and accrued interest to the time of early payment plus 1.5% of the remaining principal plus any outstanding fees.
To make sure you do not miss repayments and to fit in with your cash flow standard, we provide repayments either weekly or daily. They are automatically deducted from your business account.
Making sure that your information is secure, and knowing the ways we gather the information we collect, use, share and secure your information, is crucial and is a crucial part 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 qualified for our commitment to customer security and privacy. We use an advanced banking verification system to instantly confirm your bank account information online, allowing us to offer quick responses.
The term "asset-based" refers to borrowing where an company owner borrows from the assets they have to obtain the loan. The asset can be an individual property, such as the family home or it could be a company asset like a truck or piece or equipment.
The majority of lenders, including the banks with the biggest size, prefer to make loans secured by assets. If you have trouble paying back the loan, your assets could be offered for sale by the lender. In essence it is the process of securing new funding using the value of what you already own.
For loans that exceed $150,000, the requirement for asset security is not required before you are able to access the money but we do need an individual guarantee. As long as you follow the terms of your loan (as detailed in your loan contract document) Asset security will never be needed. For loans of over $150,000 typically, you will need an individual ensure and security in the form a charge over assets.
