The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K is fairly low.
Looking for more funding? Check out the conditions of eligibility for our $100K to $500K business loans.
All you need to begin is your contact details (the name of your company, your name, email address, phone) as well as the amount you’d like to lend, as well as your monthly income.
Through the process and before settlement we will need confirmation of who you are but not before we can begin:
In addition, once we have started in the process, for loans over $150,000 you will also require basic financial statements:
Let’s get started.
Perth unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
It is possible to apply to the Small Business Loan in under 10 minutes online or over the phone, receive a same day response and funds may be available in just 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. This business loan is a pre-paid loan which means you know in advance the total amount due, which includes any fees, interest or charges. This is then broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for almost any business purpose including the management of cash flow, company remodeling, marketing to purchase inventory, new equipment, for general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size the business needs to be trading for at least 3 years, and have an annual income of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A large business loan can be used for nearly all company reason, such as business improvements, purchasing new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary to access funding over $150,000. This is as a result of an charge against assets, and could include registration on the PPSR or the registration of a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is generally in nature rather than stipulating the security for a particular asset. The person who signs the guarantee is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR gives preference over private property assigned in accordance with the date on which a security interest that is registered.
Caveats are legal document lodged to provide an official notice of a claim to a property.
If you’re applying for an enterprise loan that is greater than $250K we can offer an initial pre-approval to simplify the process. We could be able to get this done without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial well-being checks. This is neither an offer nor a guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer that you are offered could have different terms.
You can apply for a business loan if you;
The application process is simple and easy. Just complete the online application in just a few minutes, and an experienced company expert in lending will be in touch to assist you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, in addition to interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) we typically provide an answer within an hour – as long as you make your application during quality business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements we can offer the decision within the span of one company day.
For the Larger Business Loan ($100K up to $500,000) we may be able to provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The quickest method can be make sure you apply during normal business hours, and allow us to use the advanced bank verification system to instantly verify your bank account information online. If you choose to send us copies of your bank statements , it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer in just one hour, provided you apply in standard business hours and allow us to use the bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statements, we will be able to provide a decision within 1 business day.
For Larger Business Loans ($100K to $500K) we might be able to offer you with a conditional pre-approval in about six hours. Once you have signed the 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 offers have been approved within 24 hours.
The quickest method is to ensure you apply during normal business hours and allow us to use the advance bank verification to verify your bank information online. If you send us duplicates of your banking statements it may take a bit longer.
We provide loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we look at a variety of factors to determine what is the well-being of your company as well as the amount of payments your business is able to afford. The total amount of the loan will be determined by the specific circumstances the company.
If you apply for a specific amount we look at a range of aspects to determine your health that is your business and the level of payments your business can afford. The total amount of your loan will be determined by the specifics the business.
When you apply for our company financing, we’ll assess the risk assessment the business and provide you with a customised offer including the amount of loan, the term and interest rates. The business loan is an upfront cost loan therefore you will be aware in advance of the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on several variables like the amount to be borrowed, the business assets the money will be used for in addition to the industry that the business is operating in, how long the business has been in operation for, whether the company has enough cash flow to pay for the loan, and overall well-being or creditworthiness of the business.
There are no hidden costs with our business loans. You’ll know precisely how much you be required to pay and when, right from day one. There’s no compounding and the loan comes with no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You can request a credit loan with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You can choose to repay the entire amount of your loan in full at any time.
If you choose to do this please speak to our friendly business lending professionals. We will offer you with details for repayment and an early payment figure. It will be calculated using the total of the principal amount remaining and the accrued interest up to the date of early payout and 1.5 percent of the remaining principal and any fees that remain unpaid.
To make sure that you don’t miss due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your designated company account.
Protecting your information, and making it clear how we collect the information we collect, use, share and secure your information, is of huge importance and an integral element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify your bank account information online to offer an immediate response.
Asset-based borrowing is when an company owner borrows from an asset they own to secure the loan. The asset can be an individual asset, such as the family home, or a company asset such as a vehicle or piece of equipment.
The vast majority of lending institutions, even the largest banks, are inclined to secure loans against an asset. If you’re having trouble paying back the loan, your asset may be transferred to the lender. In essence it is means of securing new financing by taking advantage of the value of what you already have.
Up to $150K in loans no asset security is required prior to the loan’s access however, we require a personal guarantee. require an individual guarantee. So long as you comply with your loan commitments (as specified in your loan contract) the security of assets is not required. For loans that exceed $150,000, generally, you are able to get personal guarantee and security in the form of the charge of assets.
