Services in Boya
- Boya Unsecured Business Loan
- Boya Business Finance
- Boya Business Lending
- Boya Business Loans
- Boya Small Business Finance
- Business Funding Boya
- Working Capital Boya
- Small Business Lending Boya
- Boya Short Term Business Loan
The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the conditions of eligibility for our $100K to $500K company loan.
All that’s required to start is your contact information (company name, your name, email and phone) along with the amount you want to borrow, and your monthly income.
In the course of the process and before settlement we’ll require confirmation of who you are, but not to get started:
After we start when it comes to loans over $150,000 you will also need the following financial statements:
Let’s get started now.
Perth unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply for the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an answer within the same day and have the funds on your account within 24 hours. Traditional company loans have an interest rate per annum along with other charges and fees. We offer a company loan is a pre-paid loan so you will know in advance the total amount payable including any interest, fees or charges. Then, it is broken down into a daily or weekly installment amount.
The Small Business Loan can be used for virtually any company use, including the management of cash flow, company remodeling, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the amount of the loan.
To be eligible for a loan in this amount the company needs to have been in operation for at least 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly all business purpose including business improvements, purchasing inventory or new equipment for general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary for accessing funds over $150,000. It’s in the form of a charge on assets and can include registering this in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature, rather than stipulating security over a particular asset. The person who is signing the ensure is personally liable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including goods or assets). The PPSR gives priority over personal property to be granted depending on the date that a security interest was registered.
An affidavit is an official document filed to provide notice of a legal claim to property.
If you’re applying for an enterprise loan of more than $250,000 it’s possible to offer an initial pre-approval to simplify the process. We may be able to get this done without credit checks and within six hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial health questions. It is in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could have different terms.
You are eligible to apply for a business loan if you;
The application process is simple and simple. Just fill out the online application within a couple minutes, and a dedicated business lending specialist will call you to help you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent, 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour if you apply during standard business hours and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statement, we’ll offer an answer in as little as one company day.
For Larger Business Loans ($100K to $500K) we could be able to offer you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours, and let us use the advanced bank verification system to instantly check your bank’s information online. If you send us documents from your account statements , it can take a bit longer.
For the Small Business Loan ($5K or more) we typically provide a response in one hour – as long as you make your application during standard business timings and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to send us copies of your bank statements, we are able to provide the decision within an business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be able to offer the conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval. However, this can be faster depending upon the circumstances for each application. Some deals have been approved in less than 24 hours.
The most effective method would be to ensure you apply during normal business hours. Also, allow us to use our sophisticated bank verification to confirm your bank details online. If you decide to send us duplicates of your banking statements, it will take a little longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a particular amount, we look at a variety of aspects in order to assess your health of your business and the amount of payments your business can support. The total amount of your loan will be contingent on the particular circumstances that are unique to your business.
If you apply for a specific amount we take into consideration a variety of factors to assess the well-being that is your company and the level of payments your company will be able to support. The amount you receive from the loan will be determined by the specific circumstances for your business.
When you make an application for business loans with us company credit, we will assess the risk profile the company and offer an individualised offer including the loan amount, the terms and the interest rates. This business loan is a loan that is priced upfront therefore you will know in advance the total amount payable including any interest rates, fees or charges.
Business loan interest rates depend on several variables like the amount to be of money borrowed, the business assets the funds are used to purchase, the industry the business is operating in, how long the company has been running as well as how long the company has enough cash flow to support the loan, and the general well-being or financial standing of the company.
There aren’t any hidden charges for our business loans. You’ll know precisely what you’ll need to pay and at what time, from the day you sign up. There’s no compounding interest, and no extra fees (as long as you make your payments punctually).
We don’t charge an application fee. You are able to apply for a loan with absolutely no upfront cost and no 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 proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can choose to repay the entire amount of the loan early at any time.
If you do decide to do this please talk to one of our helpful company credit experts. We will provide you with repayment details along with an early payout estimate. It will be calculated using the total of the principal remaining plus any accrued interest as of the time of early payment plus 1.5% of the principal amount remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow routine, we offer repayments either daily or weekly. They are automatically deducted from the nominated company account.
Protecting your information, and being clear about the ways we gather the information we collect, use, share and secure your information, is of huge importance and is an essential element of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our clients and security. We use an advanced bank verification system to instantly verify your bank account details online, allowing us to provide quick responses.
Asset-based borrowing occurs when a company owner borrows from the assets they have to make the funding. The asset can be an individual asset, such as the family home, or a company asset such as a vehicle as well as a piece of machine.
The vast majority of banks, even the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan then your assets could be taken over by the lender. In essence, it is an opportunity to secure new financing by using the worth of the asset you already own.
Up to $150,000 in loans the requirement for asset security is not required upfront to access the money however, we require a personal guarantee. need an individual guarantee. So long as you comply with the loan terms (as specified in your loan contract) and you are able to meet your obligations, asset security will never be needed. For loans of over $150,000 generally, you are able to get the option of a personal guarantee and security in the form a charge over assets.
