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 financing.
All that’s required to begin is your contact details (company name, your name, email and telephone) and the amount you’d like to borrow and your monthly earnings.
Through the process and before settlement we’ll need confirmation of your identity but not to get started:
In addition, once we have started with loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started.
Perth unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
You can apply to get this Small Business Loan in under 10 minutes over the phone, receive an instant response and have the funds available in just 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. We offer a business loan is a cash-based loan and you’ll be aware of the amount you will have to pay, including any fees, interest or charges. This is then broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used for virtually any business purpose including managing cash flows, business renovations, marketing, to purchase inventory or 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 size loan to aid in company growth opportunities. Loans range between $100,000 and $500,000 with a term fixed with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the loan amount.
To qualify for a loan that is this large the business needs to be operating for a minimum of 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger company loan can be used for nearly any company purpose including business renovations, purchase of inventory or new equipment as well as for general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary to access funding over $150,000. It is usually in the form of a charge on assets, and could include registration with the PPSR or filing a caveat.
A director’s or personal ensure is a promise to repay a loan which is general in nature rather than stating the security for a particular asset. The person signing the guarantee is personally liable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been that are registered for personal property (including objects or assets). The PPSR allows preference over private property assigned according to the date the registration of a security interest.
An affidavit is an official document lodged to provide the public notice of a legal claim against a property.
When you’re applying for the Larger Business Loan of more than $250K we can offer a preliminary pre-approval to help make the process. We might be able to make this decision without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial well-being checks. It is neither an offer nor a guarantee of funds. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you may receive may be subject to different terms.
You can apply for an company loan if you;
The application process is fast and easy. Simply complete the online form within a few minutes and a dedicated company expert in lending will contact you to guide you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s Licence) 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 loan above $150K).
$250K to $500K: Information on the application including credit consent twelve months bank statement, an IRD statements as well as the two most recent years’ financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) We can usually provide an answer within one hour – as long as you submit your request at standard business time and let us utilise the bank verification system link to immediately verify your bank account information online. If you choose to send us copies of your bank statements , we will be able to offer a decision within just the span of one company day.
For the Larger Business Loan ($100K and up) we might be capable of offer the conditional pre-approval within about six hours. After you’ve signed your pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours, and allow us to use our advance bank verification to instantly confirm your bank details online. If you choose to upload documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer a response in one hour – provided you apply during standard business time and permit us to utilise the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statements, we are able to offer an answer in just 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be capable of offer you with conditional pre-approval within six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be faster depending on the particular circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours and allow us to use the advance bank verification to verify your bank account information online. If you upload the copies of bank statement, it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a specific amount we look at a variety of aspects in order to assess what is the health that is your company and the level of repayments that your business will be able to support. The total amount of the loan will be determined by the particular circumstances of your company.
If you apply for a specific amount we consider a variety of aspects to determine your well-being for your business and the extent of repayments your company can afford. The total amount of your loan will be determined by the particular circumstances for your business.
When you make an application for our company loans, we’ll assess the risk profile for your company and offer you with a tailored offer including the amount of the loan, the duration and the interest rates. This business loan is an upfront cost loan so you will be aware of the total amount you will have to pay, including charges, interest rates or fees.
The interest rates on company loans rates depend on a variety of factors including the amount of money borrowed, the company assets the money will be used for, the industry the company operates in, how long the company has been running, whether the business has sufficient cash flow to pay for the loan, and also the overall health or financial standing of the company.
There aren’t any hidden charges for our company loans. You’ll know precisely what it is that you be required to pay, and when, from the day you sign up. There’s no compounding and there are no additional charges (as long as you are able to make your payments punctually).
We do not charge an application fee. You are able to request a credit loan with without any upfront costs or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can decide to repay all of your loan at any point in time.
If you do decide to take this route, please call our helpful business lending professionals. The professionals will offer you with repayment details along with an early payout estimate. This is calculated as the sum of the principal balance and any accrued interest at the time of early payout in addition to 1.5% of the principal amount remaining and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from the nominated business account.
Protecting your information, and being clear about the ways we gather, use, exchange and protect your information, is of huge importance and is a crucial aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We use an advanced bank verification system to instantly verify your bank account details online so we can offer quick responses.
The term "asset-based" refers to borrowing where a company owner borrows from an asset that they own to get the funding. The asset could 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 the lenders not just the major banks, prefer to secure loans against assets. If you’re having trouble paying back the loan, then the asset might be offered for sale by the lender. In essence, it’s means of securing new funding using the value of what you already have.
For loans of up to $150K, there is no requirement for asset security before you can access the money, however we do need a personal guarantee. In the event that you fulfill your loan commitments (as stated in the loan contract) Asset security will never be required. For loans that exceed $150,000, generally, you can get the option of a personal ensure and security is provided in the form of charges on assets.
