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Perth Unsecured Business Loans
Providing Specialist Business Finance

Services in Brookdale

  • Unsecured Business Loans Brookdale
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  • Brookdale Small Business Finance
  • Brookdale Business Funding
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  • Brookdale Small Business Lending
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Business Finance Brookdale Perth 6112 WA

Simple eligibility checklist

Small Business Loan Eligibility Criteria

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

  • The minimum period of 6 months for which you must be in business
  • At least $6,000 of revenue per month
  • You must be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Drivers Licence or Passport for identification proof
  • Make sure you have a New Zealand bank as your main trading account
  • Bank statements from the last six months

Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K company loan.

Quick application checklist

What do you need to apply

All that’s required to get started is your contact details (company name, your name, email and telephone) as well as the amount you’d like to borrow, and your monthly income.

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

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

After we start with loans over $150,000 you will also require basic financial statements:

  • Profit & Loss 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

Tell me about the Perth Small Business Loans

Perth unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.

What makes what makes the Unsecured Loan different from the traditional business loan?

The application to your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and funds may be available in just 24 hours. Traditional business loans are based on an annual interest rate as well as other fees and charges. Our company loan is a loan that is priced upfront therefore you’ll be aware in advance of the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly amount to be paid back.

What could you use the Small Business Loan be used for?

A Small Business Loan can be used for nearly every company purpose including control of cash flow business renovations, marketing for purchasing inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal reasons.

About the Larger Perth Business Loans

What is the Larger Perth Business Loan?

The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly to work with you cashflow.

How’s the Origination Fee determined?

It is important to note that the Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.

Do I qualify for the Larger Business Loan?

To be eligible for a credit of this size the company needs to have been operating for a minimum of 3 years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.

How can the funds be utilised?

A larger company loan is a great option for almost any company purpose including company renovations, purchase of inventory or new equipment for general working capital, and much more. The loan cannot be used for personal purposes.

Is the Larger Business Loan one that is secured?

Asset security is needed for funding of more than $150,000. It’s in the form of a charge on assets, and may include the registration of this through the PPSR or making a caveat.

A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature rather than specifying the security for a particular asset. The person who signs the ensure is personally liable in the event that 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 that are registered for personal property (including the assets or goods). The PPSR gives prioritisation over property that is personal to be granted according to the date the registration of a security interest.

An affidavit is an official document lodged to provide the legal claim on a property.

What is a pre-approval without Credit Check?

If you’re requesting an enterprise loan that is greater than $250,000 it is possible to offer an initial pre-approval to make the process. It is possible to get this done without a credit check and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves you answering a few financial well-being questions. It’s not an offer of credit or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you may receive may be based on different terms.

Application process

Do I have the right to receive funds?

You may be eligible for an company loan if you:

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

How do I apply?

The application process is simple and simple. Just complete the online application in just a few minutes, and an experienced business credit specialist will call you to guide you.

To apply for up to $100,000, you’ll require proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months worth of bank statements.

If you’re looking for loans with larger sizes, you’ll require:

$100K – $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent and 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, plus interim current financial year financials as well as Aged Payables and Receivables Summary.

How fast will I get an answer?

For an unsecured loan ($5K up to $100,000) we typically provide an answer within an hour if you apply within quality company times and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements , we are able to provide the decision in as little as an business day.

For the Larger Business Loan ($100K up to $500,000) we might be able to provide you with pre-approval conditional to your application in about 6 hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Certain deals have been approved within just 24 hours.

The fastest way for you to apply is make sure you apply during normal business hours. You can also let us use the advanced bank verification system link to verify your bank account information online. If you choose to send us copies of your bank statements it will take a little longer.

How fast will I get the money?

For the Small Business Loan ($5K to $100K) we usually offer an answer within an hour – provided you apply in normal business time and let us use the advanced bank verification system link to instantly verify your bank information online. If you choose to submit copies of your bank statement, we’ll provide the decision in as little as the span of one business day.

For Larger Business Loans ($100K to $500K) we might be in a position to provide you with pre-approval conditional to your application in around 6 hours. Once you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Certain agreements have been approved within just 24 hours.

The quickest method is to ensure you apply during normal business hours. You can also permit us to use the advance bank verification to instantly confirm your bank details online. If you opt to send us the copies of bank statement, it can take a bit longer.

What is the maximum amount I can borrow?

We provide loan amounts between $5,000 and $500,000. If you apply for a certain amount, we consider a variety of variables to determine what is the well-being for your business and the level of repayments your company is able to afford. The amount you receive from your loan will depend on the specific circumstances the business.

When you apply for a set amount, we look at a range of aspects to assess how much we can lend you such as well-being that is your business and the amount of repayments your business is able to afford. The amount you receive from your loan will be determined by the particulars for your company.

Fees & repayments

What is the cost for a company loan?

If you decide to make an application for business loans with us business loans, we’ll assess the risk profile of your company and offer you with a tailored offer including the amount of the loan, the duration and the interest rates. A business loan is a loan that is priced upfront which means you know the exact amount you will have to pay, including charges, interest rates or fees.

What is the basis for the rate I am charged?

Business loan interest rates differ based on various variables like the amount to be that is borrowed, what company assets the funds will be used for and the sector the business operates in, the long the company has been in operation and in the event that the business has sufficient cash flow to fund the loan, and also the overall health or financial standing of the business.

What are the cost?

There aren’t any hidden charges with our company loans. You’ll know precisely what it is that you be required to pay, and when, right from the first day. There’s not any compounding interest and the loan comes with no additional 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 no upfront cost or obligation to proceed.

The Origination Fee covers the costs associated with setting up and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.

Can I pay off the loan in advance?

You can repay the entire amount of your loan in full at any time.

If you decide to do this please contact our helpful company credit experts. The experts will offer you with details for repayment and an early payout figure. This will be calculated as the sum of the principal remaining and the accrued interest up to the date of early payout, plus 1.5% of the principal balance plus any outstanding fees.

What is the process for repayments?

In order to help you avoid missing payments and to work your cash flow schedule, we offer repayments either daily or weekly. They will be automatically deducted from your company account.

Security & privacy

Will my information be secure?

Security of your data, and being transparent about the ways we gather, use, exchange and protect your information, is of paramount importance and an integral part of our relationship you.

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

Yes. We employ industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to customer security and security. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account information online, allowing us to offer an immediate response.

About business loans

How do you define asset-based lending (a secured loan)?

Asset-based borrowing is when a company owner makes use of assets they own to obtain the funding. The asset may be a personal asset like the family home, or a company property like a truck or other piece of machinery.

The vast majority of lending institutions, even the largest banks, are inclined to make loans secured by assets. If you’re struggling to pay back the loan, your assets could be transferred to the lender. In essence, it is an opportunity to secure new financing by using the worth of the asset you already own.

What do I need security for a business loan?

For loans of up to $150K, no asset security is required upfront to access the money, however we do need the personal guarantee. In the event that you fulfill the loan terms (as specified in your loan contract) and you are able to meet your obligations, asset security will never be required. For loans of over $150K generally there is an individual guarantee and security that is in the form an asset charge.

Perth Unsecured Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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Contact Us

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1300 124 298