The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K company financing.
All that is needed to start is your contact details (company name, your name, email, phone) as well as the amount you’d like to borrow, and your monthly revenue.
Through the process and before settlement we’ll require confirmation of your identity, but not for starting:
After we start when it comes to loans greater than $150,000 you will also require basic financial statements:
Let’s get started.
Perth unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
The application to get your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and funds may be on your account within 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. Our company loan is a loan that is priced upfront and you’ll know ahead of time the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost any business use, including managing cash flows, business remodels and marketing to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size the business needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger business loan can be used to fund almost all company need, including company remodeling, buying new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is needed for accessing funds over $150,000. It is usually as a result of an charge over assets, and may include registration in the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is general in nature rather than specifying the security for a particular asset. The person who is signing the guarantee is personally liable in the event that the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR permits the priority of personal property assigned in accordance with the date on which a security interest that is registered.
The caveat can be described as a formal form of document to provide an official notice of a claim against a property.
If you’re seeking the Larger Business Loan of $250,000 or more we can offer an initial pre-approval in order to ease the process. It is possible to make this decision without credit checks and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial health checks. It’s not an offer or guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you might receive could be on different conditions.
You may be eligible for a business loan if you
The application process is quick and easy. Just complete the online application within a couple minutes, and an experienced business lending specialist will be in touch to assist you.
To apply for up to $100,000, you’ll need the right identification documents (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent twelve months of bank statements, IRD statements Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour – as long as you submit your request in standard company hours and you allow us to utilise the bank verification system link to immediately verify your bank account information online. If you opt to submit copies of your bank statements , we are able to offer a decision in as little as 1 business day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this may be quicker depending on the specifics of each application. Some deals have been approved in the space of 24 hours.
The quickest method can be make sure you apply during standard company hours. You can also permit us to use the advance bank verification link to verify your bank information online. If you opt to send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within one hour if you apply in normal business hours and allow us to use the bank verification system to instantly verify your bank information online. If you want to send us copies of your bank statements, we are able to provide a decision in just an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be able to provide you with conditional pre-approval in around six hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved in the space of 24 hours.
The quickest method would be to make sure you apply during normal business hours. You can also let us use the modern bank verification link to check your bank’s information online. If you opt to upload copies of your bank statements, it takes a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a certain amount we look at a variety of elements for determining the health for your business and the amount of repayments that your company will be able to support. The amount you receive from the loan will be determined by the particular circumstances the company.
When you submit an application for a particular amount, we look at a range of variables to determine how much we can lend you such as health that is your company and the level of payments your business can afford. The amount you receive from your loan will be contingent on the particulars of your business.
If you decide to make an application for the company credit, we’ll assess the risk assessment of your business and provide you with a tailored offer including loan amount, term and interest rates. This company loan is an upfront cost loan so you will know in advance the total amount payable including any interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors like the amount of money borrowed, what business assets the funds will be used for and the sector the company is in, how long the business has been in operation, whether the company has sufficient cash flow to fund the loan, as well as the general well-being and creditworthiness of the company.
There are no hidden fees with our company loans. You’ll know precisely how much you’ll be required to pay, and when, right from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You can request a credit loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay all of your advance loan at any time.
If you decide to pursue this option, please call our helpful company lending specialists. They will offer you with repayment details as well as an early payout amount. This will be calculated as the total of the principal remaining and any accrued interest at the time of early payment in addition to 1.5% of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments that are either weekly or daily. They are automatically deducted from your business account.
Security of your data, and knowing the ways we gather the information we collect, use, share and protect your information, is of paramount importance and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We use an advanced bank verification system link to immediately confirm your bank account information online so we can provide a fast response.
Asset-based borrowing is when the company owner borrows from the assets they have to obtain a loan. The asset can be an individual asset, such as the family home or an company asset such as a truck or other piece of machinery.
The majority of lenders, even the largest banks, are inclined to make loans secured by assets. If you’re struggling to pay back the loan, then the asset might be taken over by the lender. In essence, it’s the process of securing new funding making use of the value of what you already have.
For loans up to $150K no asset security is required upfront to access the money however, we do need an individual guarantee. In the event that you fulfill the loan terms (as stated in the loan contract), asset security is not required. For loans that exceed $150K, generally there is personal guarantee and security is provided in the form of charges on assets.
