The requirements for getting an unsecured business loan in Perth of between $5K and $100K is fairly low.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K company financing.
All that’s required to start is your contact information (the name of your company, your name, email and phone), how much you want to borrow, as well as your monthly income.
Through the process and before settlement we will require confirmation of who you are, but not to get started:
In addition, once we have started, for loans that exceed $150,000, you will also require basic financial statements.
Let’s get started.
Perth unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
Apply for your Small Business Loan in under 10 minutes online or over the phone, receive a same day response and funds may be on your account within 24 hours. Traditional company loans reference an annual interest rate along with other charges and fees. The company loan is a cash-based loan and you’ll know ahead of time the total amount payable including any fees, interest or charges. Then, it is broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used for nearly any business use, including managing cash flows, business remodels and marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are scheduled weekly or fortnightly, depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan of this size, your company needs to be operating for a minimum of 3 years, and have an annual income of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large company loan can be used to fund almost every company purpose including company renovations, purchase of inventory or new equipment for general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed to obtain funding above $150,000. It’s by taking a charge over assets, and may include the registration of this in the PPSR or making as a caveat.
A personal or director’s ensure is a commitment to pay back a loan that is generally in nature rather than defining security over a particular asset. The person who is signing the guarantee is personally accountable if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including the assets or goods). The PPSR permits priority over personal property to be assigned according to the date a security interest that is registered.
Caveats are legal document lodged to offer the public notice of a legal claim against a property.
If you’re requesting a Larger Business Loan that exceeds $250,000 we may be able to provide a preliminary pre-approval to help smooth out the process. We may be able to make this decision 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 some financial health checks. It’s not an offer or guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you might receive could be on different terms.
You may be eligible for a company loan if you;
The application process is fast and easy. Simply complete the online form within a few minutes and an experienced company expert in lending will call you to assist you.
For a loan of up to $100,000, you’ll require proof of identity (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Information on the application including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) we can often provide an answer within an hour, provided you make your application at standard company times and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements we can provide an answer within an company day.
For the Larger Business Loan ($100K to $500K) we may be able to offer the conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The most effective method would be to make sure you apply during standard company hours. You can also allow us to use our modern bank verification link to instantly verify your bank information online. If you upload the copies of bank statements it will take a little longer.
For the Small Business Loan ($5K to $100K) We can usually provide a response in one hour if you apply during standard business timings and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your banking statement, we’ll offer an answer in as little as an business day.
If you are applying for Larger Business Loans ($100K or more) we could be likely to provide you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based upon the circumstances for each application. Certain agreements have been approved in 24 hours.
The fastest method is to make sure you apply during standard business hours and allow us to use our sophisticated bank verification to instantly confirm your bank details online. If you opt to upload the copies of bank statements it may take a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of factors to determine the health of your business and the level of payments your business can support. The amount you receive from your loan will depend on the specifics that are unique to your company.
When you apply for a certain amount, we take into consideration a variety of factors to determine the health of the company and the extent of repayments your company will be able to support. The amount you receive from the loan will be determined by the particular circumstances the business.
When you request the business loan, we will assess the risk profile of your company and offer you with a tailored proposal that includes the amount of loan, the term and interest rates. The company loan is an upfront-priced loan and you’ll be aware in advance of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors including the amount of money borrowed, the company assets the funds will be used for and the sector the company is operating in, how long the company has been in operation and what percentage of the business has sufficient cash flow to cover the loan, as well as the overall well-being or financial standing of the company.
There aren’t any hidden charges with our business loans. You’ll know precisely how much it is that you need to pay and when, from the very first day. 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 can apply for a loan with with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated in 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 percent of the amount of loan.
You may choose to pay back all of your advance loan at any time.
If you choose to take this route, please contact our helpful business loan experts. They’ll provide you with details for repayment along with an early payout estimate. It will be calculated using the total of the principal balance and any accrued interest at the time of early payment, plus 1.5 percent of the principal amount remaining as well as any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your designated company account.
Security of your data, and being transparent about how we collect the information we collect, use, share and safeguard your data, is crucial and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We make use of an advanced banking verification system to instantly confirm your bank account information online. This allows us to provide rapid response.
Asset-based borrowing is when the business owner utilises an asset they own to get the funding. The asset can be either a personal asset like the family home or it could be a company property like a truck as well as a piece of machine.
The vast majority of the lenders including the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan, your assets could be taken over by the lender. In essence, it is a way of securing new financing using the worth of the asset you already have.
For loans that exceed $150K, it is not necessary to secure assets upfront to access the money, however we do require a personal guarantee. As long as you follow the terms of your loan (as specified in your loan contract document) Asset security is not needed. For loans that exceed $150,000, generally, you can get the option of a personal guarantee and security in the form a charge over assets.
