Services in Lexia
- Unsecured Business Loan Lexia
- Lexia Business Finance
- Lexia Business Lending
- Business Loan Lexia
- Lexia Small Business Finance
- Business Funding Lexia
- Working Capital Lexia
- Small Business Lending Lexia
- Lexia Short Term Business Loans
The criteria for eligibility for an unsecured business loan in Perth of between $5K and $100K are pretty minimal.
Do you need more money? Take a look at the eligibility requirements for our $100K to $500K company credit.
All you need to begin is your contact information (the name of your company, your name, email, phone) as well as the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll require confirmation of your identity, but not to get started:
After we start, for loans of more than $150,000 you’ll require fundamental financial statements:
Let’s get started.
Perth unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and funds may be in your account in 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. We offer a business loan is a loan that is priced upfront which means you know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into a daily or weekly installment amount.
The Small Business Loan can be used for nearly any company reason, such as managing cash flows, company improvements, advertising for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
This 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 credit of this size, your company needs to be trading for at least 3 years, and have an annual income of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used for almost all business use, including business renovations, to purchase equipment or inventory or as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is needed for accessing funds over $150,000. It is usually by way of charge over assets, and may be registered in the PPSR or making a caveat.
A personal or director’s ensure is a guarantee to repay a loan which is general in nature, rather than defining security over a particular asset. The person who is signing the ensure is personally liable in the event that the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including objects or assets). The PPSR permits priority over personal property to be assigned depending on the date that a security interest has been registered.
An affidavit is an official form of document to offer the public notice of a legal claim to property.
If you’re applying for larger business loans of $250K or more we may be able to provide an initial pre-approval that will help make the process. We might be able to get this done 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 some financial well-being questions. It’s neither an offer nor a guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer that you might receive could be on different terms.
You may apply for a business loan if you;
The application process is quick and easy. Just complete the online application in just a few minutes, and a dedicated business credit specialist will contact you to assist you.
To apply for up to $100,000, you’ll require ID details (valid Driver’s License) and a valid NZBN/IRD as well as at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K-$250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent as well as 12 months bank statement, an IRD statements, last 2 years finalised financial statements, in addition to interim financials from the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K to $100K) we can often offer a response in one hour – as long as you make your application within quality company timings and let us use the advanced bank verification system to immediately verify your bank account information online. If you decide to submit copies of your bank statement, we’ll provide an answer within just 1 business day.
If you are applying for a Larger Business Loan ($100K or more) we might be likely to provide you with a conditional pre-approval within about six hours. After you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved in less than 24 hours.
The most efficient method would be to ensure you apply during standard business hours, and permit us to use the advance bank verification link to confirm your bank details online. If you opt to upload the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer within an hour if you submit your request during normal business timings and permit us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to send us copies of your bank statement, we’ll provide a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K and up) we might be likely to provide you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this can be faster depending on the particular circumstances of each application. Certain offers have been approved within less than 24 hours.
The quickest method would be to ensure you apply during standard business hours and allow us to use our advance bank verification link 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 submit an application for a particular amount, we will consider a number of factors that determine the well-being for your company and the extent of the repayments your company will be able to support. The amount you receive from your loan will be contingent on the specifics of your business.
When you submit an application for a set amount, we consider a variety of elements to assess how much we can lend you such as well-being that is your business and the extent of repayments that your business can afford. The amount you receive from your loan will be contingent on the specific circumstances the company.
If you decide to apply for business loans with us company loans, we will assess the risk profile the company and provide an individualised proposal that includes the amount of the loan, the duration and the interest rates. The business loan is an upfront-priced loan so you will be aware of the total amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates differ based on various factors including the amount borrowed, what company assets the money will be used for and the sector the business is in, how long the business is in operation, how long the company has sufficient cash flow to cover the loan, and general well-being or creditworthiness of the company.
There are no hidden fees for our company loans, and you’ll know precisely what it is that you be required to pay and when, starting from the first day. There’s not any compounding interest and there are no additional charges (as long as you make your payments in time).
We don’t charge an Application Fee. You can get a cash loan absolutely no upfront cost and no any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you choose to do this please talk to one of our helpful business lending professionals. They’ll provide you with details for repayment as well as an early payout amount. This will be calculated as the total of the principal balance and any accrued interest at the time of early payment and 1.5 percent of the principal remaining and any fees that remain unpaid.
To help you avoid missing payment dates and to align your cash flow schedule, we offer repayments either weekly or daily. They are automatically deducted from the nominated business account.
Making sure that your information is secure, and being upfront about how we collect information, use it, and exchange it, as well as safeguard your data, is crucial and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our customers and privacy. We utilise a sophisticated bank verification system that allows you to instantly verify the bank account details online to offer quick responses.
The term "asset-based" refers to borrowing where the business owner utilises an asset they own to obtain the loan. The asset may be a personal asset like the family home or a company asset such as a vehicle or piece of equipment.
The majority of banks, including the major banks, prefer to secure loans against an asset. If you’re struggling to pay back the loan then the asset might be offered for sale by the lender. In essence it is the process of securing new financing by using the worth of the asset you already have.
For loans of up to $150K, there is no requirement for asset security before you can access the money but we require a personal guarantee. need an individual guarantee. So long as you comply with the loan terms (as detailed in your loan contract document) Asset security will never be needed. For loans over $150,000 generally, there is the option of a personal guarantee and security is provided in the form of an asset charge.
