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Melbourne Unsecured Business Loans
Providing Specialist Business Finance

Services in Junction Village

  • Unsecured Business Loan Junction Village
  • Junction Village Business Finance
  • Junction Village Business Lending
  • Business Loan Junction Village
  • Junction Village Small Business Finance
  • Junction Village Business Funding
  • Working Capital Junction Village
  • Small Business Lending Junction Village
  • Junction Village Short Term Business Loan

Business Finance Junction Village Melbourne 3977 VIC

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The criteria for eligibility for an unsecured business loan in Melbourne of between $5K to $100K are quite minimal.

  • A minimum of six months in business
  • At least $6,000 revenue per month
  • You must be a New Zealand based business with a New Zealand Business Number (NZBN)
  • Passport or
  • Driver’s License to serve as identification proof
  • Make sure you have a New Zealand bank as your main trading account
  • Bank statements from the past 6 months

Do you need more money? Check out the conditions of eligibility for our $100K-$500K company loans.

Quick application checklist

What do you need to apply

All that’s needed for starting is your contact details (the name of your company, your name, email, phone) along with the amount you’d like to borrow, and your monthly income.

During the process and before settlement we will require confirmation of who you are however, not in order to begin:

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

After we start in the process, for loans greater than $150,000 you’ll also need fundamental financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

More about the Melbourne Small Business Loans

Tell me what you think of the Melbourne Small Business Loans

Melbourne unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.

What makes the Unsecured Loan different from an ordinary business loan?

The application for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and the money could be on your account within 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. We offer a company loan is a loan that is priced upfront so you will be aware of the amount you will have to pay, including any fees, charges or charges. This is then 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 almost every company use, including the management of cash flow, company renovations, marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal purposes.

About Larger Melbourne Business Loans

What is the Larger Melbourne Business Loan?

The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are either weekly or fortnightly depending on your cash flow.

How is the Origination Fee calculated?

This Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.

Can I get the Larger Business Loan?

To be eligible for a credit in this amount, your business needs to have been trading for at least 3 years and have an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.

How can the funding be utilised?

A large company loan can be used for almost all company need, including company renovations, purchase of new equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal use.

Is the Larger Business Loan one that is secured?

Asset security is required to access funding over $150,000. It is usually as a result of an charge over assets, and may be registered on the PPSR or the registration of as a caveat.

A personal or director’s ensure is a commitment to repay a loan which is general in nature rather than stipulating the security of a specific asset. The person signing the guarantee is personally responsible if the company borrower is unable to pay back the debt.

The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been that are registered for personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted according to the date the security interest has been registered.

The caveat can be described as a formal document filed to provide notice of a legal claim on a property.

What is a pre-approval minus Credit Check?

If you’re requesting larger business loans that is greater than $250K, we may offer an initial pre-approval that will help smooth out the process. We may be able to apply for this without a credit verification and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering some financial health questions. This is not an offer of credit or guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer you may receive may have different conditions.

Application process

Are I eligible for funding?

You may apply for a business loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are over 18 years, have a New Zealand business (with a valid NZBN/IRD)
  • you must prove at least 6 months worth of trade (for you to qualify for unsecured loan $5K – $100K) or 3 years of trading (for the Larger Business Loan $100K up to $500K)

How do I apply?

The application process is fast and easy. Just complete the online application within a couple minutes, and a dedicated company loan specialist will contact you to help you.

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

For larger loan sizes, you’ll also need:

$100K – $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Information on the application including credit consent, 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.

How quickly will I receive a decision?

For an unsecured loan ($5K and up) we can often provide an answer within an hour if you apply within standard company times and you allow us to utilise 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 offer a decision within just 1 business day.

For the Larger Business Loan ($100K or more) we may be capable of offer the conditional pre-approval in about six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain agreements have been approved in less than 24 hours.

The fastest way is to make sure you apply during standard company hours, and allow us to use the modern bank verification link to confirm your bank details online. If you decide to send us copies of your bank statement, it can take a bit longer.

How soon will I receive the funds?

For the Small Business Loan ($5K and up) We can usually offer an answer within one hour if you submit your request in normal business hours and allow us to use the bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your bank statements, we will be able to offer the decision in as little as 1 business day.

If you are applying for Larger Business Loans ($100K and up) We may be likely to offer you with pre-approval conditional to your application in about six hours. Once you’ve signed your pre-approval document, you will need to wait around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Certain offers have been approved in the space of 24 hours.

The fastest way can be ensure you apply during normal business hours. You can also allow us to use our advance bank verification to verify your bank information online. If you decide to upload the copies of bank statements, it takes a bit longer.

How much can I borrow?

We provide loans that range from $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of aspects for determining what is the health of the company and the level of repayments your company will be able to support. The amount you receive from your loan will be contingent on the particular circumstances the business.

When you apply for a certain amount, we look at a range of elements to determine how much we can lend you such as health of your business and the amount of payments your company can support. The amount you receive from your loan will depend on the specific circumstances the company.

Fees & repayments

How do you charge for the cost of a business loan?

If you decide to apply for one of our company loan, we’ll assess the risk profile of your business and offer an individualised offer including the amount of the loan, the duration and interest rates. This company loan is an upfront cost loan so you will know the exact amount payable including any costs, fees, or interest rates.

What is the factor that determines the price I’m charged?

The interest rates on business loans rates differ based on various variables like the amount to be that is borrowed, what company assets the funds are used to purchase in addition to the industry that the company operates in, the long the company is in operation and whether the company has sufficient cash flow to pay for the loan, as well as the overall well-being and creditworthiness of the company.

What are the costs?

There are no hidden fees for our business loans, and you’ll know precisely how much it is that you need to pay, and at what time, from day one. There’s no compounding interest and no extra fees (as long as you are able to make your payments in time).

We do not charge an Application Fee. You can request a credit loan with absolutely no upfront cost and no any obligation to sign up.

The Origination Fee covers the expenses involved with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.

Can I pay off the loan in advance?

You can choose to repay the entire amount of your loan at any point in time.

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

What are the repayment methods?

In order to help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically withdrawn from your company account.

Security & privacy

Will my information be secure?

Protecting your information, and being clear about the ways we gather information, use it, and exchange it, as well as secure your information, is of paramount importance and a vital aspect of our relationship with you.

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

Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to customer security and security. We employ a highly sophisticated bank verification system that allows you to immediately verify the bank account details online so we can provide quick responses.

About business loans

What is asset-based borrowing (a secured loan)?

The term "asset-based" refers to borrowing where a business owner utilises assets they own to secure a loan. The asset may be an individual property, such as the family home, or it could be a company asset such as a truck or piece or equipment.

The majority of lending institutions, even the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, then your asset may be taken over by the lender. In essence it is the process of securing new funding using the worth of the asset you already own.

Should I need security for an company loan?

For loans up to $150K the requirement for asset security is not required in advance to gain access to the funds however, we require a personal guarantee. need a personal guarantee. In the event that you fulfill the loan terms (as detailed in your loan contract document) Asset security will never be required. For loans of over $150K typically, you will need an individual guarantee and security is provided in the form of an asset charge.

Melbourne Unsecured Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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1300 931 496