The requirements for obtaining an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Do you need more money? Find out the eligibility requirements for our $100K to $500K business financing.
All you need to get started is your contact details (company name, your name, email address and telephone) and the amount you want to borrow, as well as your monthly income.
In the course of the process and before settlement we will need confirmation of your identity, but not for starting:
In addition, once we have started, for loans over $150,000 you’ll also need basic financial statements:
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Perth unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes online or on the phone. You’ll receive an instant response and the money could be on your account within 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. Our business loan is a pre-paid loan and you’ll know ahead of time the total amount due, which includes any interest, fees or charges. This is then broken down into a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost any business purpose including control of cash flow company remodels and marketing to purchase inventory, new equipment, or as general working capital and so 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. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your situation.
This Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount, your business needs to have been trading for at least 3 years and generate an annual revenue of at least $700,000. Your company must belong to 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 prove at least 12 months of trading.
A large business loan can be used for nearly all business need, including business improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed for funding of more than $150,000. It’s by taking a charge against assets and can be registered through the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally in nature rather than defining security over a particular asset. The person signing the ensure is personally liable in the event that the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including objects or assets). The PPSR gives preference over private property assigned depending on the date that a security interest has been registered.
Caveats are legal document filed to provide the public notice of a legal claim to property.
When you’re applying for larger business loans of $250,000 or more it’s possible to offer an initial pre-approval that will help ease the process. We might be able to get this done without a credit verification and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes answering a couple of financial health checks. It is not an offer or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you may receive may be on different conditions.
You may be eligible for a company loan if you;
The application process is fast and easy. Complete the online form within a few minutes and a dedicated company expert in lending will call you to assist you.
To apply for up $100,000, you’ll require ID details (valid Driver’s License) as well as an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $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, 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, and interim current financial year financials as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) we typically provide an answer within one hour – as long as you apply within standard company timings and allow us to utilise the bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can provide the decision in as little as 1 business day.
For the Larger Business Loan ($100K or more) we may be capable of provide the conditional pre-approval in about six hours. After you’ve signed your pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The most efficient method would be to make sure you apply during normal business hours and allow us to use the advance bank verification link to check your bank’s information online. If you opt to send us documents from your account statements it takes a bit longer.
For the Small Business Loan ($5K and up) we can often offer a response in one hour – provided you submit your request during standard business times and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statement, we’ll provide an answer within 1 business day.
For Larger Business Loans ($100K or more) We may be likely to provide you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Some offers have been approved in the space of 24 hours.
The fastest method can be make sure you apply during standard business hours, and allow us to use our sophisticated bank verification link to confirm your bank details online. If you decide to upload documents from your account accounts, it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a certain amount we consider a variety of factors for determining your well-being that is your business and the level of repayments your business is able to afford. The amount you receive from your loan will depend on the specific circumstances of your business.
When you apply for a certain amount, we consider a variety of aspects to determine how much we can lend you such as well-being for your company and the amount of payments your company can support. The total amount of your loan will depend on the specific circumstances of your company.
If you decide to apply for our company financing, we’ll assess the risk assessment the company and provide you with a tailored offer including the loan amount, the terms and interest rates. It is a company loan is an upfront cost loan so you will be aware in advance of the total amount due, which includes any interest rates, fees or charges.
Business loan interest rates depend on a variety of factors including the amount that is borrowed, what company assets the funds will be used for and the sector the business operates in, the long the business has been operating as well as how long the company has sufficient cash flow to cover the loan, and the general health and creditworthiness of the business.
There aren’t any hidden costs with our company loans, and you’ll know exactly how much you’ll be required to pay and when, from the first day. There’s no compounding and no extra fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You can get a cash loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay the total amount of your loan at any point in time.
If you do decide to pursue this option, please contact our helpful business loan specialists. We will provide you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the principal remaining plus any accrued interest as of the date of early payout and 1.5 percent of the principal balance as well as any outstanding fees.
To make sure you do not miss repayments and to fit in with your cash flow routine, we offer repayments either daily or weekly. These are automatically withdrawn from your designated company account.
The security of your personal information, as well as being clear about the ways we gather the information we collect, use, share and safeguard your data, is crucial and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account details online. This allows us to offer a fast response.
The term "asset-based" refers to borrowing where a company owner borrows from an asset that they own to get a loan. The asset may be an individual asset, such as the family home, or a business asset like a truck or piece of equipment.
The vast majority of the lenders not just the banks with the biggest size, prefer to secure loans against assets. If you have trouble paying back the loan, then the asset could be taken over by the lender. In essence, it’s the process of securing new financing by taking advantage of the value of what you already have.
For loans of up to $150,000, there is no requirement for asset security upfront to access the money, however we do need an individual guarantee. As long as you follow the terms of your loan (as detailed in your loan contract) Asset security will never be required. If you take out loans in excess of $150K generally, there is the option of a personal ensure and security that is in the form the charge of assets.
