The requirements for obtaining an unsecured business loan in Perth of between $5K to $100K are quite minimal.
Need more funds? Review the guidelines for eligibility for our $100K-$500K business loan.
All you need to start is your contact details (the name of your company, your name, email and telephone) and the amount you’d like to borrow, and your monthly earnings.
While in the process and before settlement we’ll require confirmation of who you are but not to get started:
Once we’ve started with loans of more than $150,000 you will also need the following financial statements:
Let’s get started.
Perth unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
The application for your Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and funds may be available in just 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. Our company loan is an upfront priced loan which means you be aware of the total amount payable including the interest, fees and charges. This is then broken down into either weekly or daily payment amount.
A Small Business Loan can be used for virtually every business need, such as managing cash flows, company renovations, marketing to purchase inventory, new equipment, or as general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To be eligible for a loan of this size, your company needs to be trading for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A larger company loan can be used for nearly any business purpose including company improvements, purchasing inventory or new equipment for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is required to obtain funding above $150,000. It is usually in the form of a charge over assets, which could also include registering this in the PPSR or the registration of a caveat.
A director’s or personal ensure is a commitment to repay credit that is general in nature rather than stipulating security over an asset. The person who is signing the guarantee is personally responsible if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date a security interest has been registered.
An affidavit is an official document that is filed to offer an official notice of a claim on a property.
If you’re applying for larger company loans that exceeds $250K we can offer a preliminary pre-approval to help smooth out the process. We could be able to make this decision without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves answering a couple of financial health questions. This is not an offer or guarantee of funds. The approval of a conditional loan is subject to a full credit assessment and any offer you are offered could have different terms.
You may apply for a business loan if you;
The application process is fast and easy. Just complete the online application within a few minutes and a dedicated business lending specialist will call you to guide you.
To be eligible for up to $100,000, you’ll require the right identification documents (valid Driver’s Licence) and a valid NZBN/IRD as well as at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent as well as 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we usually offer an answer in just one hour, provided you make your application within quality company timings and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your bank statements we can offer a decision within an business day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to provide you with a conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this can be quicker based on the specifics of each application. Some transactions have received approval in just 24 hours.
The quickest method is to make sure you apply during standard company hours and let us use the advance bank verification link to verify your bank account information online. If you upload documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K and up) we typically provide an answer within an hour – provided you submit your request at standard business hours and allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statements we can provide the decision in as little as one business day.
For Larger Business Loans ($100K or more) We may be capable of provide you with a conditional pre-approval within six hours. Once you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest method is to ensure you apply during standard business hours, and let us use the advanced bank verification system to verify your bank account information online. If you decide to upload the copies of bank accounts, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a certain amount, we look at a variety of variables in order to assess how much we can lend you well-being of the business as well as the amount of the repayments your business will be able to support. The total amount of the loan will be determined by the specifics the company.
If you apply for a set amount, we will consider a number of factors to determine your well-being for your company as well as the amount of the repayments your company can support. The total amount of your loan will be contingent on the particulars for your company.
If you decide to make an application for one of our company loans, we’ll assess the risk profile the business and offer you with a customised offer including loan amount, term and interest rates. It is a company loan is a loan that is priced upfront which means you know the exact amount due, which includes any charges, interest rates or fees.
Interest rates for company loans rates depend on a variety of factors including the amount borrowed, what business assets the money will be used for in addition to the industry that the company is operating in, how long the business has been operating, how long the company has enough cash flow to pay for the loan, and the overall well-being or creditworthiness of the business.
There aren’t any hidden costs for our company loans, and you’ll know precisely how much it is that you need to pay, and when, starting from day one. There’s not any compounding interest and no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You are able to apply for a loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved with establishing and managing the loan. The only way to pay 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 repay the entire amount of your loan at any point in time.
If you decide to take this route, please contact our helpful business loan specialists. They will provide you with the details of your repayment and an early payment figure. It will be calculated using the total of the principal remaining plus any accrued interest as of the time of the early payout plus 1.5% of the principal amount remaining and any outstanding fees.
To ensure you do not miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. These are automatically withdrawn from the nominated company account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and protect your information, is vital and is a crucial aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We employ an exceptionally sophisticated banking verification system to immediately confirm your bank account information online, allowing us to offer rapid response.
Asset-based borrowing occurs when the company owner uses an asset they own to secure a loan. The asset may be an individual property, such as the family home or an business property like a truck or piece of equipment.
The majority of lending institutions, including the big banks, tend to make loans secured by assets. If you’re having trouble paying back the loan then your assets could be sold by the lender. In essence it’s the process of securing additional financing using the worth of the asset you already have.
For loans of up to $150K, no asset security is required in advance to gain access to the funds however, we do require an individual guarantee. As long as you follow your loan commitments (as stipulated in your loan contract) Asset security is not needed. If you take out loans in excess of $150K typically, you will need a personal guarantee and security in the form of the charge of assets.
