The criteria for eligibility for an unsecured business loan in Perth of between $5K to $100K are quite minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K company loans.
All that’s required to begin is your contact details (company name and your name, as well as email or phone number), how much you’d like to borrow, as well as your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not before we can begin:
In addition, once we have started in the process, for loans greater than $150,000 you will 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 month and cash flow friendly repayments which can be made daily or weekly.
Apply to your Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and have the funds in your account within 24 hours. Traditional company loans refer to an annual rate of interest plus other fees and charges. This company 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 either a daily or weekly installment amount.
A Small Business Loan can be used for nearly any business purpose including the management of cash flow, company remodels and marketing for purchasing inventory or new equipment, as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount, your business needs to be in operation for at least 3 years, and have an annual income of $700K. You must be 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 to prove at least 12 months of trading.
A Business Loan of a larger size can be used for almost every business use, including business renovations, purchase of equipment or inventory for general working capital, and much more. The loan cannot be used for personal use.
Asset security is needed to access funding over $150,000. This can be done by way of charge against assets, and may include registration with the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature, rather than stipulating security over an asset. The person who is signing the guarantee is personally liable in the event that the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR allows priority over personal property to be assigned according to the date a security interest has been registered.
A caveat is a legal document lodged to offer the public notice of a legal claim on a property.
If you’re requesting larger company loans that is greater than $250,000 we may be able to provide an initial pre-approval to ease the process. We could be able to make this decision without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial health checks. It is not an offer of credit or guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you receive could be based on different conditions.
You may apply for a business loan if you:
The application process is simple and simple. Just fill out the online application in few minutes and a dedicated business credit specialist will call you to guide you.
For a loan of up to $100,000 you’ll need the right identification documents (valid Driver’s License) and a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Details for application including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, in addition to interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K and up) we can often provide an answer within one hour, provided you make your application at quality business times and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll offer the decision in just an company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be likely to offer you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some agreements have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during normal company hours, and allow us to use our modern bank verification link to instantly confirm your bank details online. If you choose to send us the copies of bank statements , it takes a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within one hour if you submit your request within standard business timings and allow us to use the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements, we’ll be able to offer the decision in as little as an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be capable of offer the conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, it could be faster based on the specifics of each application. Certain agreements have been approved within just 24 hours.
The fastest method would be to make sure you apply during normal business hours. Also, let us use the modern bank verification link to confirm your bank details online. If you choose to upload the copies of bank statements it takes a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a certain amount, we will consider a number of factors in order to assess the health of your company as well as the amount of repayments that your company will be able to support. The total amount of the loan will be determined by the particular circumstances for your business.
If you apply for a certain amount, we look at a range of aspects to determine your health of the business and the amount of payments your business can support. The amount you receive from your loan will depend on the specific circumstances for your company.
If you decide to apply for business loans with us company loans, we will assess the risk profile that you have for your business and offer you with a customised offer that includes loan amount, term and interest rates. This company loan is a loan that is priced upfront therefore you will be aware in advance of the total amount due, which includes any interest rates, fees or charges.
The interest rates on company loans rates differ based on various factors including the amount that is borrowed, what company assets the funds are used to purchase in addition to the industry that the business operates in, how long the company has been running as well as how long the business has enough cash flow to support the loan, and general health or creditworthiness of the business.
There are no hidden fees with our company loans. You’ll know precisely what you’ll need to pay, and at what time, from the very first day. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can request a credit loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee includes the expenses associated 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 percent of the loan amount.
You can choose to repay the entire amount of your advance loan at any time.
If you do decide to take this route, please talk to one of our helpful business lending experts. They’ll provide you with the details of your repayment and an early payout figure. The figure will be calculated as the sum of the remaining principal amount and the accrued interest up to the time of early payout, plus 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in with your cash flow standard, we offer repayments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and ensure the security of your information is crucial and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We make use of an advanced bank verification system link to immediately verify the bank account details online. This allows us to provide rapid response.
Asset-based borrowing occurs when the business owner borrows from an asset they own to make the loan. The asset may be an individual property, such as the family home or a company property like a truck or piece of equipment.
The vast majority of lending institutions, not just the largest banks, are inclined to secure loans against assets. If you’re struggling to pay back the loan then your asset may be sold by the lender. In essence, it’s the process of securing new financing by making use of the value of what you already own.
For loans up to $150,000 no asset security is required in advance to gain access to the funds but we do need the personal guarantee. If you adhere to the loan terms (as stated in your loan contract document) Asset security will never be needed. For loans that exceed $150K, generally, there is the option of a personal ensure and security in the form of charges on assets.
