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Perth Small Business Loans
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  • Swanbourne Unsecured Business Loan
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Business Finance Swanbourne Perth 6010 WA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K is fairly low.

  • At least 6 months in business
  • A minimum of $6,000 in revenue per month
  • Be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or Driver’s Licence for evidence of identity
  • Make sure you have an account with a New Zealand bank as your principal trading account
  • Bank statements from the past 6 months

Looking for more funding? Check out the eligibility requirements for our $100K-$500K company credit.

Quick application checklist

What do you need to apply

All that’s needed for starting is your contact details (company name and your name, as well as email or phone number) along with the amount you’d like to borrow and your monthly revenue.

During the process and before settlement we will require confirmation of who you are, but not to get started:

  • Details of the Idenfication (valid Driver’s License)
  • Business information including trading times owner details, trading time, as well as the NZBN (New Zealand Business Number)

After we start with loans of more than $150,000 you’ll also require fundamental financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Information About The Perth Small Business Loans

Let me know about the Perth Small Business Loans

Perth unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.

How is what makes the Unsecured Loan different from an traditional business loan?

You can apply for this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive a same day response and the funds could be in your account in 24 hours. Traditional company loans refer to an annual rate of interest as well as other fees and charges. This company loan is an upfront priced loan and you’ll know ahead of time the amount you will have to pay, including any fees, charges or charges. Then, it is divided into a daily or weekly repayment figure.

What can the Small Business Loan be used for?

It is a Small Business Loan can be used for almost every business reason, such as control of cash flow company remodels and marketing for purchasing inventory or new equipment, as general working capital and so much more. The loan is not available to fund personal expenses.

Concerning Larger Perth Business Loans

What is the Larger Perth Business Loan?

The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.

How is the Origination Fee determined?

The Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.

Do I qualify for the Larger Business Loan?

In order to be eligible for a loan in this amount, your business needs to be operating for at least three years and have an annual turnover of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.

What can the funds be used for?

A larger business loan can be used for nearly every business need, including business improvements, purchasing new equipment or inventory or as general working capital and so much more. The loan is not available for personal reasons.

Is the Larger Business Loan a secured loan?

Asset security is needed to obtain funding above $150,000. It’s as a result of an charge over assets, and could be registered through the PPSR or filing as a caveat.

A personal or director’s guarantee is a commitment to repay credit that is general in nature, rather than stipulating security over an asset. The person who signs the ensure is personally accountable if the business creditor is unable to repay the debt.

The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR allows the priority of personal property granted according to the date the security interest has been registered.

Caveats are legal form of document to offer an official notice of a claim against a property.

What is a pre-approval minus Credit Check?

When you’re applying for a Larger Business Loan of $250,000 or more we can offer a preliminary pre-approval to help ease the process. It is possible to apply for this without a credit verification 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 checks. It’s not an offer or guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you might receive could be subject to different terms.

Application process

Are I eligible for funding?

You are eligible to apply for a company loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are over the age of 18 and own a New Zealand business (with a valid NZBN/IRD)
  • you must prove at least 6 months’ worth of transactions (for for the unsecured loan $5K – $100K) or 3 years of continuous trading (for the Larger Business Loan $100K up to $500K)

How do I apply?

The process for applying is fast and simple. Simply complete the online form in few minutes and an experienced business lending specialist will call you to guide you through the process.

To be eligible for up to $100,000, you’ll need the right identification documents (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months of bank statements.

In addition, for larger loan sizes, you’ll need:

$100K-$250K: Application requirements, 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 as well as 12 months of bank records, IRD statements and the last two years’ finalised financial statements, as well as interim current financial year financials as well as Aged Payables and Receivables summaries.

How soon will I hear a decision?

For an unsecured loan ($5K up to $100,000) We can usually provide a response in one hour – as long as you make your application at standard company time and permit us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements we can provide an answer in just the span of one company day.

If you are applying for a Larger Business Loan ($100K up to $500,000) we may be capable of offer you with pre-approval conditional to your application within six hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain agreements have been approved in less than 24 hours.

The quickest way to apply for you to apply is make sure you apply during normal company hours and allow us to use the advance bank verification link to instantly verify your bank account information online. If you choose to upload the copies of bank statements it can take a bit longer.

What is the time frame to receive the funds?

For the Small Business Loan ($5K to $100K) we usually offer an answer within an hour, provided you submit your request at standard business times and let us make use of the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll provide an answer in as little as an business day.

If you are applying for Larger Business Loans ($100K or more) we may be able to provide you with conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this can be faster depending on the particular circumstances of each application. Some transactions have received approval in less than 24 hours.

The fastest way is to ensure you apply during standard business hours, and allow us to use the advance bank verification to check your bank’s information online. If you decide to upload documents from your account accounts, it takes a bit longer.

What’s the minimum amount I can borrow?

We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of factors to determine what is the health of your business and the amount of the repayments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances for your company.

If you apply for a certain amount, we consider a variety of factors to determine the well-being that is your business and the amount of the repayments your business can afford. The total amount of the loan will be determined by the specifics the business.

Fees & repayments

How do you charge for an business loan?

When you apply for the company loans, we’ll assess the risk profile of your company and provide an individualised offer that includes the amount of the loan, the duration and interest rates. A company loan is a loan that is priced upfront and you’ll be aware of the total amount due, which includes any charges or interest.

What determines the amount I am charged?

Interest rates for business loans rates differ based on various factors including the amount of money borrowed, the business assets the funds will be used for as well as the field the company is in, how long the business has been operating and in the event that the business has sufficient cash flow to fund the loan, and also the general health and creditworthiness of the business.

What are the charges?

There aren’t any hidden costs with our company loans, and you’ll know precisely how much you’ll be required to pay and when, starting from the day you sign up. There’s no compounding interest, and no extra fees (as as long as you pay your payments on time).

We don’t charge an application fee. You can apply for a loan with without any upfront costs or commitment to apply.

The Origination Fee covers the expenses involved in establishing and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.

Do I have the option of paying off the loan early?

You can decide to repay the total amount of your loan at any point in time.

If you decide to take this route, please speak to our friendly company lending experts. They will offer you with details on repayment and an early payment figure. This will be calculated as the sum of the principal remaining and accrued interest to the time of the early payout, plus 1.5% of the principal remaining plus any outstanding fees.

What are the repayment methods?

To ensure you do not miss payments and to work with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically withdrawn from your nominated company account.

Security & privacy

Will my data be protected?

Making sure that your information is secure, and being clear about how we collect data, process, exchange and secure your information, is of paramount importance and a vital part of our relationship with you.

Is it safe to link my bank account to the platform?

Yes. We employ industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We make use of an advanced bank verification system link to instantly verify the bank account details online, allowing us to provide a fast response.

About business loans

What is asset-based borrowing (a secured loan)?

The term "asset-based" refers to borrowing where the company owner borrows from assets they own to get the loan. The asset could be an individual property, such as the family home, or a company asset such as a vehicle or piece of equipment.

The vast majority of the lenders including the banks with the biggest size, prefer to secure loans against assets. If you’re having trouble paying back the loan then the asset might be transferred to the lender. In essence it is a way of securing new funding taking advantage of the value of what you already have.

What do I need security to secure a business loan?

For loans of up to $150,000, the requirement for asset security is not required before you can access the money but we do require a personal guarantee. If you adhere to your loan commitments (as specified in your loan contract document) and you are able to meet your obligations, asset security will never be needed. For loans of over $150,000 generally there is the option of a personal guarantee and security is provided in the form of the charge of assets.

Perth Small Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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Contact Us

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1300 089 960