Services in Lexia
- Unsecured Business Loan Lexia
- Business Finance Lexia
- Lexia Business Lending
- Lexia Business Loan
- Small Business Finance Lexia
- Business Funding Lexia
- Working Capital Lexia
- Lexia Small Business Lending
- Short Term Business Loan Lexia
The requirements for obtaining an unsecured business loan in Perth of between $5K to $100K are quite minimal.
Need more funds? Take a look at the eligibility requirements for our $100K to $500K company loans.
All that’s needed to get started is your contact information (the name of your company and your name, as well as email, phone) and the amount you’d like to borrow, and your monthly earnings.
During the process and before settlement we’ll need confirmation of your identity, but not to get started:
Once we’ve started with loans that exceed $150,000, you’ll also need basic financial statements:
Let’s get started now.
Perth unsecured loans offers 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.
The application for the Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and funds may be available in just 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. Our company loan is a loan that is priced upfront therefore you’ll know ahead of time the total amount due, which includes any interest, fees or charges. Then, it is broken down into weekly or daily payment amount.
It is a Small Business Loan can be used to fulfill almost any company reason, such as the management of cash flow, company renovations, marketing for purchasing inventory or new equipment, for general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are weekly or fortnightly depending on your situation.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To be eligible for a credit of this size the company needs to be operating for at least three years and have an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large company loan can be used to fund almost all company reason, such as company remodeling, buying equipment or inventory, as general working capital and so much more. The loan cannot be used for personal use.
Asset security is required for funding of more than $150,000. This can be done by way of charge on assets, which could also be registered through the PPSR or filing a caveat.
A personal or director’s ensure is a commitment to repay a loan which is general in nature rather than stating the security of a specific asset. The person signing the guarantee is personally liable if the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests that are registered for personal property (including items or assets). The PPSR gives prioritisation over property that is personal to be granted according to the date a registration of a security interest.
The caveat can be described as a formal document that is filed to offer an official notice of a claim on a property.
If you’re applying for a Larger Business Loan of more than $250,000, we may offer a preliminary pre-approval to help smooth out the process. It is possible to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial health questions. It is not an offer of credit or guarantee of credit. A conditional approval is subject a full credit assessment and any offer you receive could be on different conditions.
You can apply for an business loan if you:
The application process is fast and simple. Complete the online form in few minutes and an experienced business credit specialist will call you to guide you through the process.
For a loan of up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent and 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, as well as interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K and up) we usually provide an answer within an hour if you submit your request during quality business hours and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements , we are able to offer an answer in as little as the span of one business day.
For the Larger Business Loan ($100K or more) we may be able to offer the conditional pre-approval within about six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The quickest method can be ensure you apply during normal company hours, and allow us to use the advance bank verification to confirm your bank details online. If you choose to send us documents from your account statements it will take a little longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within an hour – provided you make your application within standard business timings and you allow us to use the bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your bank statements, we’ll be able to offer an answer in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be likely to offer you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The most efficient method is to ensure you apply during standard business hours and let us use the modern bank verification to instantly verify your bank account information online. If you choose to upload the copies of bank statements, it will take a little longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a specific amount we consider a variety of elements for determining your well-being of the business and the amount of the repayments your business can afford. The amount you receive from the loan will be determined by the particular circumstances for your company.
When you apply for a specific amount we consider a variety of aspects to determine the health for your business and the level of repayments your company can support. The total amount of your loan will be contingent on the specific circumstances for your business.
If you decide to request the company credit, we will assess the risk profile the company and provide you with a customised offer including the amount of the loan, the duration and interest rates. This business loan is an upfront cost loan which means you know the exact amount payable including any costs, fees, or interest rates.
Interest rates for business loans rates depend on a variety of variables like the amount to be borrowed, what company assets the funds will be used for, the industry the company operates in, how long the business has been operating for, whether the company has sufficient cash flow to cover the loan, and the overall well-being or creditworthiness of the business.
There are no hidden fees for our company loans, and you’ll be aware of the amount it is that you need to pay and at what time, from day one. There’s no compounding interest, and no additional fees (as long as you make your payments in time).
We do not charge an Application Fee. You are able to request a credit loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the expenses involved with the setting up and management of the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of your advance loan at any time.
If you decide to do this please talk to one of our helpful business credit experts. We will offer you with details for repayment and an early payment figure. The figure will be calculated as the total of the principal remaining plus any accrued interest as of the time of early payment and 1.5% of the principal amount remaining as well as any outstanding fees.
To make sure you do not miss payment dates and to align your cash flow schedule, we provide payments that are 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 data, process, exchange and safeguard your data, is crucial and a vital aspect 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 qualified for our commitment to security for our customers and security. We make use of an advanced bank verification system to immediately verify your bank account details online so we can provide an immediate response.
Asset-based borrowing is when a business owner makes use of an asset they own to secure a loan. The asset may be an asset belonging to the personal, like the family home or a business asset such as a vehicle as well as a piece of machine.
The vast majority of lenders, including the banks with the biggest size, prefer to make loans secured by assets. If you’re struggling to pay back the loan then the asset could be offered for sale by the lender. In essence, it’s an opportunity to secure new funding making use of the value of what you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds However, we do need an individual guarantee. If you adhere to the loan terms (as stated in your loan contract) the security of assets will never be required. For loans over $150K generally, you can get a personal guarantee and security in the form of an asset charge.
