The requirements for obtaining an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K business loan.
All that is needed for starting is your contact information (the name of your company, your name, email address or phone number), how much you’d like to borrow and your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not to get started:
Once we’ve started, for loans of more than $150,000 you’ll need basic financial statements.
Let’s get started.
Perth unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and have the funds in your account within 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. The company loan is a pre-paid loan therefore you’ll know in advance the amount you will have to pay, including any fees, charges or charges. Then, it is broken down into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for nearly any company purpose including the management of cash flow, company remodels and marketing, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To be eligible for a loan in this amount, your company needs to have been operating for at least three years with an annual turnover of $700,000. Your business 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 of proving at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost every company purpose including company renovations, purchase of new equipment or inventory for general working capital and much more. The loan cannot be used for personal reasons.
Asset security is needed to access funding over $150,000. This can be done as a result of an charge against assets, and may include registering this through the PPSR or registering a caveat.
A director’s or personal ensure is a promise to pay off a credit line that is general in nature, rather than specifying security over an asset. The person who is signing the ensure is personally liable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR permits the priority of personal property granted in accordance with the date on which a security interest was registered.
Caveats are legal document that is filed to provide an official notice of a claim to property.
If you’re applying for an enterprise loan that exceeds $250,000 we may be able to provide an initial pre-approval in order to simplify the process. We might be able to do this without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial health questions. This is not an offer of credit or guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you may receive may have different conditions.
You may be eligible for an company loan if you:
The process for applying is fast and easy. Complete the online form in just a few minutes, and an experienced company expert in lending will contact you to help you.
To apply for up to $100,000 you’ll need identification details (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Details of application, 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 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we can often provide a response in one hour – as long as you apply in quality company hours and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can provide a decision within one company day.
If you are applying for a Larger Business Loan ($100K and up) we might be in a position to provide you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain agreements have been approved within less than 24 hours.
The most effective method is to make sure you apply during normal business hours. You can also allow us to use our advance bank verification link to verify your bank information online. If you opt to upload duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour – as long as you apply during standard business time and let us use the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements, we will be able to provide the decision in just an business day.
For Larger Business Loans ($100K and up) we might be likely to offer the conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this can be faster depending on the circumstances of each application. Some deals have been approved in less than 24 hours.
The quickest method would be to ensure you apply during normal business hours. You can also permit us to use the modern bank verification link to instantly check your bank’s information online. If you opt to send us duplicates of your banking statement, it may take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a specific amount we take into consideration a range of variables that determine how much we can lend you health that is your company and the level of the repayments your business will be able to support. The total amount of your loan will be contingent on the specifics that are unique to your business.
When you apply for a particular amount, we take into consideration a variety of aspects to assess the health for your company and the amount of the repayments your company can afford. The amount you receive from your loan will be determined by the specific circumstances for your company.
When you apply for the company loan, we’ll assess the risk profile that you have for your business and offer an individualised offer including loan amount, term and interest rates. The company loan is an upfront priced loan therefore you will know in advance the total amount payable including any charges, interest rates or fees.
The interest rates on company loans rates depend on several factors such as the amount that is of money borrowed, the company assets the money will be used for, the industry the company is operating in, how long the company has been running as well as in the event that the business has sufficient cash flow to cover the loan, and the overall health or financial standing of the company.
There aren’t any hidden charges with our company loans, and you’ll know exactly how much you’ll be required to pay, and when, right from day one. There’s no compounding interest, and there are no additional charges (as long as you make your payments in time).
We do not charge an application fee. You can apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the entire amount of the loan in full at any time.
If you are deciding to take this route, please speak to our friendly business loans professionals. They’ll provide you with the details of your repayment and an early payment figure. This is calculated as the total of the principal amount remaining and any accrued interest at the time of the early payout plus 1.5% of the remaining principal and any fees that remain unpaid.
To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Security of your data, and being clear about the ways we gather the information we collect, use, share and secure your information, is vital and is an essential part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account information online. This allows us to provide quick responses.
The term "asset-based" refers to borrowing where the business owner utilises the assets they have to make the funds for a loan. The asset can be an individual asset, such as the family home, or an business asset such as a vehicle as well as a piece of machine.
The vast majority of lending institutions, including the big banks, tend to guarantee loans against assets. If you have trouble paying back the loan then the asset could be offered for sale by the lender. In essence, it’s the process of securing additional financing using the value of what you already own.
For loans of up to $150,000, there is no requirement for asset security before you are able to access the money however, we do require the personal guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract), asset security is not needed. For loans that exceed $150K, generally, you can get a personal ensure and security in the form an asset charge.
