Unsecured Business Loans Ringwood East VIC

By This Tomorrow You Could Be Getting Ready For Success By Obtaining a Ringwood East Business Loan

Unsecured Business Loans Ringwood East

A Ringwood East unsecured business loan is quick and easy to get. Get a quick apporval and begin using the money to grow your business.

  • Are additional funds able to help your company by allowing you to work capital or for the opportunity for growth?
  • What is the financing strategy you are using to fund your business needs?

You can expect:

  • It’s easy to apply and receive approval and the funds will be around as early as tomorrow
  • No reayments are permitted in the first four weeks
  • Borrow from $5k to $500K
  • Terms ranging from 3-36 months
  • Competitive interest prices
  • Minimal docs needed

The conditions for eligibility for an unsecured business loan in Ringwood East are fairly minimal.

Call Now 1300 931 496
An easy loan application process with a huge borrowing limit, minimal credit criteria and there is no requirement to submit a business plan. Do not use your personal credit card or business credit card to finance your company.
Unsecured Loans Made Simple
I'm able get my tax back to keep me on track.
Small Business Owner
Business loans, particularly an unsecured business loan or line of credit to business funding require to not become a difficult process. Business finance in the form of small business loans with an interest rate cost, and with a repayment term that will suit the needs of your business liquidity.
Business Lenders for Business Goals
Business business loans, interest rates and repayment conditions, and flexible repayment options to meet your company needs.
Business Lending Options
I'm now able to prepare the coffee I serve my clients with the best equipment.
Cafe Owner
I'm now able to hire an expert marketer to boost my business to the next step.
Growing Ringwood East Business
I'm now able fund the renovation of our new Ringwood East resturant without having to take cash from other restaurants.
Ringwood East Resturant Owner
I am now able to take a holiday knowing the Ringwood East company will run smoothly.
Local Business Owner
Unsecured Business Loan Service Provider

Fast Approval Process

The process of applying for an business financing for company in Ringwood East with us is easy and takes only a few minutes, no mountains of paperwork or queues.

Approved and receive money within 1-2 company days.

Helping Business Owners Looking for an Unsecured Loan

People Choose Us Because We Get Results

Our goal is to assist Ringwood East companies of all sorts small, medium even solopreneurs to access quick funding so that they can use the loan to expand and develop.

  • It begins with an easy online application or by phone
  • Flexible repayment terms to suit your business
  • Quick funding in a day or two
  • A team that wants to see you succeed as well as you company to succeed
Simple eligibility checklist

Small Business Loan Eligibility Criteria

The eligibility requirements for an unsecured business loan in Ringwood East of between $5K to $100K are quite minimal.

  • Minimum of 6 months in business
  • At least $6,000 in income per month
  • You must be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or Driver’s License for evidence of identity
  • Use an account with a New Zealand bank as your principal account for trading
  • Bank statements from the past six months

Are you looking for additional funding? Review the eligibility requirements for our $100K to $500K company financing.

Here's How Other People Have Benefited

Examples of Business Loans

A plumber who's been in business for three years with monthly sales of $80K was in need of more funds. They took out $153K on a 36 month term. All they needed was 12 months of bank statement and confirmation from the IRD. The procedure was completed within one day, and the plumber got their extra working capital in their account soon afterward.
Plumber
A designer for interiors had seen an opportunity to expand their company and required working capital to finance this expansion. With monthly revenue of $300K they took out a loan of $250K for 24 months. Their turnaround time was just two days, and all they needed to present were 12 months worth of banking statements IRD confirmation, as well as their trust deed.
Interior Designer
The busy Christmas season was fast approaching, a clothes store required additional working capital to purchase more inventory and to take advantage of the discount offered by suppliers. They took out a loan of $20K over a period of 12 months without security of assets required. They received the funds in less than 24 hours.
Clothing Store
The owner of a small grocery store doing $70K a month borrowed $76K over a 24-month period, with no payments for the first four weeks. This required 12 months of bank statements. The turnaround time was only 6 hours from the moment you applied to receiving the money.
Grocery Store Small Business Loan
The owner of a restaurant wanted to open a second restaurant and needed money to fund the fit out. The bank they approached wasn't willing to help. Typical monthly revenue for them was $50K and they were able borrow $66K over the course of 24 months. The turnaround time was just 8 hours.
Restaurant Owner
Simple eligibility checklist

Larger Ringwood East Business Loan Eligibility Criteria

The criteria for eligibility of larger Ringwood East company loans of between $100K and $500K consist of:

  • Minimum of 3 years in business
  • At least $700K of annual revenue
  • You must be a New Zealand based company with an New Zealand Business Number (NZBN)
  • Passport or Driver’s License for evidence of identity
  • Make sure you have a New Zealand bank as your principal account for trading
  • Bank statements for the last 6 months
  • Certain financial statements include Profit & Loss and Aged Accounts Payable and Receivable

You are looking for a lesser amount of funds? Find out the guidelines for eligibility for our $5K to $100K Ringwood East unsecured company loans.

Business Lending for a Cash Injection

What do you want to use the business loan in Ringwood East for?

A Ringwood East unsecured loan is great for virtually every company need. Talk to us today.

  • Add or remodel the commercial space
  • Staff expansion for busy times
  • Boost stock levels to meet the demand
  • Make a brand new website or increase your marketing
  • Invest in new equipment, tools or new technologies
  • Buy extra stock to meet the seasonal demand
  • Manage cash flow fluctuations
  • And many more …

Do you want to begin one of these options as early as tomorrow? Get in touch with us today or send an application online to get the fastest and most efficient process.

Quick application checklist

What do you need to apply

All that’s needed for starting is your contact information (the name of your company, your name, email or phone number) and the amount you’d like to borrow and your monthly earnings.

In the course of the process and before settlement we will need confirmation of who you are but not for starting:

  • Information on Idenfication (valid Driver’s Licence)
  • Details of the company including time of trading owner details, trading time, as well as NZBN (New Zealand Business Number)

After we start with loans greater than $150,000 you’ll need basic financial statements:

  • Profit & Loss statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

Here's How Others Have Benefited

Examples of Business Loans

Acquiring a pizza place and two liquor stores 6-12 months earlier the new owners were seeking additional funds. The combined revenue was over 500K per month. They could borrow $300K, split out as $100K for each store, with an option of both 24 and 36 month terms. There was no security on the owners' houses was needed.
Owner of a Pizza Store & 2 Liquor Stores
A plumber who's been in business for three years with the monthly revenue of $80K was in need of more funds. They borrowed $153K over a 36 month term. The only thing needed to be provided was 12 month bank statement and confirmation of the loan's status with IRD. The process was complete within an hour and the plumber got their extra working capital available in their account within a short time.
Plumber
A company coach was seeking to invest in the health as well as beauty company. With just a little more than $12K in monthly revenues, they borrowed $24K over 24 months. The loan was based on 12 months of bank statements and was completed in just 8 hours.
Business Coach
The owner of a modest grocery store that earned $70K per month borrowed $76K over a 24 month period, with no payments for the first four weeks. This required 12 months of bank statements. The turnaround time was only 6 hours from submitting the application to receiving the money.
Grocery Store Small Business Loan
An interior designer had spotted an opportunity to increase the size of their company and required working capital to finance this growth. With a monthly income of $300K, they took out a loan of $250K for 24 months. Turnaround time for them was only two days and all they needed to present is 12 months' worth of Bank statement IRD confirmation, as well as trust deed.
Interior Designer

Unsecured Business Loan Ringwood East VIC 3135

The lending landscape has changed

In the wake of traditional lenders and banks restricting credit and the constant stream of alternative and non-bank loan providers entering the market offers an incredible source for you to take advantage of.

Ringwood East SME’s are now capable of accessing finance through alternative lenders that service Ringwood East who are focused on enabling company expansion or smoothing out problems with cash flow. In the past, personal credit sources (drawing equity from a home loan or credit cards in addition to personal loans and loans) was the sole alternative financing services for Ringwood East that were available.

There is now there is no requirement of having to rely on using real estate to secure company loan. With an unsecured loan, business financing is easy. Instead of a term loan through a bank, business finance for an SME with interest rates and loan terms that can help to manage cash flow are around as business loans.

 

 

High level summary

Separate personal and business debt

There are numerous benefits in separating personal from business debt.

  • Your home or other investmentsaren’t tied in order to access funds
  • It is the business has a better position to build its own, clear credit history
  • It’s significantly more straightforward when it comes to tax time
  • Businesses can easily assess their cash flow, monitor and plan based on the ability to clearly examine their cash flow status

Limit your exposure, make the tax process much easier. Get started with an unsecure business loan. Get it today.

For those who like the detail

Separate personal and business debt

Risk

One big drawcard for keeping your business and personal company assets apart can be that your house does not have to be tied to allow access to the funds. In the case of a business loan within Ringwood East up to $100K, asset security will not be required so long as the borrower is able to meet their loan obligations.

Credit history

Companies will be in a favourable long-term financial position if they can show good credit and debt capacity to pay.

Tax

The separation of personal as well as business finances makes it more straightforward when it comes to tax time - especially when it comes to determining the tax-deductible amount. The IRD has outlined the rules on the evidence required for claiming deductions on an individual’s tax return. This is an area that the IRD have specifically advised on.

Cash flow

Effective management of cash flows is key for the long-term success that of any company. Through keeping personal and business finances separate, companies can easily view how they are performing, monitor and plan on their ability to accurately evaluate their cash flow situation.

I'm now able hire a marketing expert to take my business to the next level of business growth.
Growing Business
I can now fund the construction of our modern Ringwood East resturant without having to borrow cash from other locations.
Ringwood East Resturant Owner
I can now make beverages for clients using the very best equipment.
Cafe Owner
An easy loan application process with a generous borrowing limit, minimal credit criteria and there is no need to create a business plan. You no longer need to use your personal credit card or company credit cards in order to fund your company.
Unsecured Loans Made Simple
I can get my tax back to keep me on track.
Small Business Owner
Business loans, specifically those that are unsecured business loan or line of credit for business financing need never be an stressful procedure. Business finance in the form in the form of small business loans at a fixed interest rate and repayment period which is compatible with your company cash flow.
Business Lenders for Business Goals
I am now able to take an extended vacation knowing that the Ringwood East company will run without a hitch.
Local Business Owner
Business business loans, interest rates and repayment terms, as well as flexible repayment options to suit your business needs.
Business Lending Options
FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

About The Ringwood East Small Business Loans

Tell me about the Ringwood East Small Business Loans

Ringwood East unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments that are either daily or weekly.

What makes how is the Unsecured Loan different from a traditional business loan?

It is possible to apply to get the Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and the funds could be in your account in 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. Our business loan is an upfront priced loan so you will be aware of the total amount payable including any interest, fees or charges. Then, it is broken down into either a daily or weekly payment amount.

What could be the Small Business Loan be used for?

The Small Business Loan can be used for virtually any company reason, such as managing cash flows, business renovations, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan is not available for personal purposes.

About the Larger Ringwood East Business Loans

What is the Larger Ringwood East Business Loan?

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 that can last up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.

How’s the Origination Fee determined?

This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.

Do I qualify for the Larger Business Loan?

To be eligible for a credit of this size, your company needs to have been operating for at least three years, and have an annual income of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.

How can the funds be utilised?

A Business Loan of a larger size can be used for almost all company use, including company improvements, purchasing new equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.

Is the Larger Business Loan one that is secured?

Asset security is required to obtain funding above $150,000. It’s by taking a charge over assets and can include the registration of this through the PPSR or the registration of as a caveat.

A personal or director’s guarantee is a promise to pay off a credit line that is general in nature rather than stating the security of a specific asset. The person signing the guarantee is personally accountable if the company creditor is unable to pay back the debt.

The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR gives prioritisation over property that is personal to be granted according to the date a security interest that is registered.

An affidavit is an official document that is filed to provide an official notice of a claim against a property.

What is a pre-approval without Credit Check?

If you’re seeking an enterprise loan that exceeds $250,000 we may be able to provide a preliminary pre-approval to help ease the process. We may be able to do this without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering some financial health checks. It is neither an offer nor a guarantee of funds. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could be on different terms.

The application process

Do I qualify for funds?

You are eligible to apply for a company loan if you;

  • are a New Zealand Citizen (or Permanent Resident)
  • are 18 years or older, own a New Zealand company (with a valid NZBN/IRD)
  • can demonstrate at least 6 months worth of trade (for the unsecured loan $5K – $100K) or three years of trade (for the Larger Business Loan $100K or $500K)

How do I apply?

The application process is quick and simple. Just complete the online application within a couple minutes, and a dedicated business credit specialist will be in touch to help you.

To apply for up $100,000 you’ll require identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months worth of bank statements.

For larger loan sizes, you’ll require:

$100K-$250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim financial statements for the current year including Aged Payables, Aged Receivables reports.

What speed will I be able to get an answer?

For an unsecured loan ($5K and up) we usually provide a response in one hour if you apply at quality company timings and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your banking statements , we will be able to offer a decision within the span of one business day.

For the Larger Business Loan ($100K and up) we may be likely to provide you with conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain transactions have received approval in 24 hours.

The most efficient method can be ensure you apply during standard company hours. You can also let us use the modern bank verification link to verify your bank account information online. If you decide to send us copies of your bank accounts, it can take a bit longer.

How quickly will I receive the funds?

For the Small Business Loan ($5K and up) we usually offer an answer in just one hour if you apply within standard business timings and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statement, we’ll offer a decision within an business day.

If you are applying for Larger Business Loans ($100K and up) We may be in a position to provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this could be shorter based upon the circumstances for each application. Certain transactions have received approval in less than 24 hours.

The fastest way would be to make sure you apply during standard business hours. You can also allow us to use the advance bank verification link to confirm your bank details online. If you choose to send us documents from your account statement, it can take a bit longer.

How much can I borrow?

We offer the loan amount between $5,000 and $500,000. If you apply for a specific amount we consider a variety of elements in order to assess your well-being of your business and the level of repayments that your company is able to afford. The amount you receive from your loan will be contingent on the specifics for your business.

If you apply for a certain amount, we will consider a number of elements to assess your health of your business and the level of payments your business can afford. The amount you receive from your loan will depend on the particular circumstances for your company.

Fees & repayments

How much do you charge for an business loan?

When you make an application for business loans with us company loan, we will assess the risk profile that you have for your business and offer you with a customised offer including the amount of loan, the term and the interest rates. A business loan is an upfront-priced loan therefore you will be aware of the total amount payable including any charges, interest rates or fees.

What determines the amount I will be charged?

Business loan interest rates vary due to factors such as the amount that is of money borrowed, the business assets the money will be used for in addition to the industry that the company is in, how long the business has been in operation and what percentage of the company has sufficient cash flow to cover the loan, and the general health as well as creditworthiness business.

What are the charges?

There aren’t any hidden charges for our company loans, and you’ll know exactly how much it is that you need to pay and when, right from the very first day. There’s not any compounding interest and the loan comes with no additional fees (as as long as you pay your payments punctually).

We don’t charge an Application Fee. You can make an application for loans with with no upfront cost or the obligation to take action.

The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.

Can I pay out the loan early?

You can choose to repay all of your loan early at any time.

If you choose to take this route, please talk to one of our helpful company credit professionals. We will provide you with details on repayment as well as an early payout amount. This will be calculated as the total of the principal remaining plus any accrued interest as of the time of early payout in addition to 1.5% of the principal remaining and any fees that remain unpaid.

How do you make repayments work?

In order to help you avoid missing due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. They will be automatically deducted from your nominated business account.

Security & privacy

Will my information be secure?

The security of your personal information, as well as making it clear how we collect the information we collect, use, share and secure your information, is of paramount importance and is an essential element of our relationship with you.

Is it safe to link my bank account to the platform?

Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to customer security and security. We utilise a sophisticated bank verification system that allows you to instantly verify the bank account details online, allowing us to provide quick responses.

About business loans

How do you define asset-based lending (a secured loan)?

An asset-based loan is when a company owner utilises an asset that they own to obtain the funds for a loan. The asset could be a personal asset like the family home or an business property like a truck or other piece of machinery.

The majority of lenders, including the major banks, prefer to secure loans against 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 financing by taking advantage of the value of what you already have.

Do I need security to secure an business loan?

For loans that exceed $150,000, there is no requirement for asset security in advance to gain access to the funds but we do require a personal guarantee. As long as you follow your loan commitments (as detailed in your loan contract) Asset security will never be needed. For loans of over $150,000 generally, there is an individual ensure and security that is in the form charges on assets.

Industries we currently aren't able to help with

  • Adult related industries
  • Auction houses and auction websites
  • Debt purchasers or debt collection agencies
  • Direct marketing including mail order, fundraising, telemarketing, direct-mail etc.
  • Financial institutions and lenders
  • {Firearm dealers
  • Foreign currency exchange offerings
  • Freight forwarding and customs clearing houses
  • Business involved with gambling
  • Non-profit organisations such as charities and churches etc.
  • Panel beaters & smash repairers
  • Pawn shops and pawnbrokers
  • Property developers
  • Stockbrokers, shares &invesment businesses
  • Tattoo palours
  • Ride sharing & taxi services
  • Ticket resellers & entertainment sales
  • Tow truck services
  • Secondhand car dealerships
  • Car glass tintingservices
  • Car wrecking yards

We can’t assist with an unsecured business loan in those industries, we might be able to assist you with a secured business loan.

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Unsecured Business Loans

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1300 931 496