The criteria for eligibility for an unsecured business loan in Perth of between $5K to $100K are quite minimal.
Looking for more funding? Check out the eligibility requirements for our $100K-$500K company loan.
All that is needed to start is your contact details (the name of your company, your name, email and telephone) as well as the amount you’d like to borrow and your monthly revenue.
While in the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
In addition, once we have started with loans over $150,000 you’ll also require fundamental financial statements:
Let’s get started now.
Perth unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply for your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and funds may be on your account within 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. We offer a company loan is an upfront priced loan so you will know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into a daily or weekly payment amount.
A Small Business Loan can be used for almost any business reason, such as managing cash flows, company remodels and marketing, to purchase inventory or new equipment, or as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.
To be eligible for a credit of this size, your company needs to be operating for a minimum of 3 years and have an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used to fund almost every company reason, such as company renovations, to purchase new equipment or inventory or as general working capital and so much more. The loan is not available for personal use.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge over assets, and may include registering this through the PPSR or filing as a caveat.
A director’s or personal ensure is a guarantee to pay back a loan that is generally in nature rather than specifying security over an asset. The person who is signing the ensure is personally responsible if the business borrower 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 contains security interests registered in respect of personal property (including the assets or goods). The PPSR allows prioritisation over property that is personal to be granted according to the date the security interest that is registered.
An affidavit is an official document that is filed to offer an official notice of a claim against a property.
If you’re applying for the Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval to ease the process. It is possible to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial well-being questions. This is in no way an offer, nor is it a guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer you may receive may be based on different conditions.
You may apply for an company loan if you:
The process for applying is fast and simple. Just fill out the online application in few minutes and a dedicated business loan specialist will call you to help you.
For a loan of up to $100,000 you’ll need identification details (valid Driver’s Licence) along with a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details for application including credit consent twelve month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually provide an answer in just one hour – as long as you submit your request during standard company timings and you allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statements , we’ll be able to provide the decision within just 1 company day.
For the Larger Business Loan ($100K or more) we may be able to offer you with pre-approval conditional to your application within 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the specifics of each application. Some transactions have received approval within the space of 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and let us use the modern bank verification link to verify your bank information online. If you decide to upload copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K and up) we usually provide an answer within an hour – provided you make your application at normal business hours 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 statements, we are able to offer the decision within 1 business day.
For the Larger Business Loans ($100K to $500K) we might be likely to provide you with pre-approval conditional to your application within about six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be faster depending on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The fastest way would be to make sure you apply during normal business hours, and allow us to use the modern bank verification link to verify your bank information online. If you decide to send us duplicates of your banking statements it can take a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a particular amount, we will consider a number of factors to determine what is the health for your company and the extent of the repayments your company is able to afford. The total amount of your loan will be contingent on the specifics of your business.
If you apply for a certain amount, we take into consideration a variety of factors to determine how much we can lend you such as well-being of your company and the amount of repayments that your company can support. The total amount of your loan will be contingent on the particular circumstances of your business.
If you decide to apply for our company financing, we’ll assess the risk profile the business and provide an individualised offer, including loan amount, term and interest rates. It is a business loan is a loan that is priced upfront so you will know in advance the total amount due, which includes any costs, fees, or interest rates.
The interest rates on company loans rates depend on a variety of factors including the amount of money borrowed, the business assets the funds will be used for and the sector the company operates in, the long the business has been running and what percentage of the company has enough cash flow to support the loan, as well as the overall well-being or financial standing of the business.
There aren’t any hidden charges for our company loans, and you’ll know precisely what you need to pay and when, from the very first day. There’s no compounding interest and no additional fees (as as you make your payments punctually).
We do not charge an Application Fee. You can apply for a loan with with no upfront cost or any obligation to sign up.
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 choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay all of your loan in full at any time.
If you decide to do this please speak to our friendly company credit experts. They will offer you with repayment details along with an early payout estimate. This will be calculated as the total of the principal remaining and any accrued interest at the time of early payout and 1.5 percent of the principal balance and any fees that remain unpaid.
To help you avoid missing payments and to work your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Security of your data, and knowing the ways we gather the information we collect, use, share and ensure the security of your information is of huge importance and a vital part of our relationship you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We make use of an advanced bank verification system link to instantly verify the bank account details online, allowing us to offer quick responses.
Asset-based borrowing is when the business owner uses assets they own to get the funding. The asset can be a personal asset like the family home or it could be a company asset such as a truck as well as a piece of machine.
The majority of lenders, including the major banks, prefer to guarantee loans against assets. If you’re having trouble paying back the loan, the asset might be transferred to the lender. In essence, it is means of securing new funding using the worth of the asset you already own.
For loans up to $150K it is not necessary to secure assets upfront to access the money however, we do need an individual guarantee. So long as you comply with the terms of your loan (as detailed in the loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150K typically, you will need the option of a personal guarantee and security in the form a charge over assets.
