A St Lucia unsecured business loan is quick and easy in applying for. Approve your loan in a matter of minutes and use the money in your company.
You can expect:
The eligibility requirements for an unsecured business loan to be made in St Lucia are fairly minimal.
Call Now 1300 931 895Making an application for the business loan for business in St Lucia with us is easy and takes only some minutes, without piles of paperwork or long waits.
Get approved and receive your funds within 1 – 2 business days.
Our goal is to assist St Lucia companies of all sorts small, medium even entrepreneurs to obtain funds quickly so that they can use the loan to grow and build.
The requirements for getting an unsecured business loan in St Lucia of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K-$500K company loan.
The criteria for eligibility to be eligible for the larger St Lucia business loans of between $100K and $500K are:
Do you require a smaller amount of capital? Check out the conditions for eligibility for our $5K to $100K St Lucia unsecured business loans.
A St Lucia unsecured loan is great for nearly any business use. Call us now.
Want to get started on one of these as soon as tomorrow? Get in touch with us now or apply online for the quickjest fasted way.
All that’s required to get started is your contact details (the name of your company, your name, email and phone), how much you’d like to lend, and your monthly revenue.
In the course of the process and before settlement we’ll require confirmation of who you are, but not before we can begin:
Once we’ve started in the process, for loans that exceed $150,000, you’ll also require the following financial statements:
Let’s get started now.
In the wake of traditional lenders and banks restricting credit as well as the continuous stream of non-bank and alternative loan providers entering the market offers a great resource for you to make use of.
St Lucia SME’s are now capable of accessing finance through alternative lenders that service St Lucia who are focused on facilitating business growth or smoothing cash flow challenges. In the past private credit options (drawing equity from a house loan, or using credit cards or personal loans, as well as credit cards) was the sole alternative funding services within St Lucia that were available.
There’s not a need to rely on the real estate market to secure company loans. With an unsecured loan, business financing is now easy. Instead of a traditional term loan from the bank, business finance for an SME with interest rates and loan terms that help with cash flow are available as business credit options.
There are many advantages associated by separating personal and business debt.
Lower your risks, make the tax process easier, get started with an unsecure busines loan, apply today.
One big drawcard for keeping your individual and business assets separate will be the fact that your home isn’t required to be tied to access the funds. In the case of a business loan within St Lucia up to $100K asset security won’t be required so long as the borrower meets the loan requirements.
Companies will be in a advantageous long-term situation if they can demonstrate good credit/debt serviceability.
The separation of personal as well as company finances makes it significantly more straightforward in the event of tax time - particularly when identifying what is the tax deductible allocation. The IRD has laid out guidelines for the documentation required in order to deduct deductions from the tax return of a company. This is an area where the IRD has specifically advised on.
Effective cash flow management is crucial to the long-term survival that of any company. By keeping your personal finances and company finances distinct, businesses can easily view the situation, track and plan based on the ability to effectively evaluate their cash flow situation.
St Lucia unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply for this Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and the funds could be available in just 24 hours. Traditional business loans refer to an interest rate per annum as well as other fees and charges. Our company loan is a loan that is priced upfront and you’ll know in advance the total amount due, which includes 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 every company purpose including cash flow management, business remodeling, marketing, to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are either weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
To be eligible for a credit of this size, your business needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan can be used for almost every business use, including business remodeling, buying inventory or new equipment, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge on assets, and may be registered through the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally in nature rather than specifying security over an asset. The person who is signing the guarantee is personally accountable if the company the borrower fails to pay back 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 items or assets). The PPSR grants prioritisation over property that is personal to be assigned according to the date the registration of a security interest.
The caveat can be described as a formal document that is filed to provide an official notice of a claim against a property.
If you’re seeking a Larger Business Loan that is greater than $250,000 it’s possible to offer an initial pre-approval to make 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 is based upon a preliminary assessment which includes answering a couple of financial health questions. It’s not an offer or guarantee of finance. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you are offered could be based on different conditions.
You are eligible to apply for a company loan if you
The application process is quick and simple. Simply complete the online form in few minutes and an experienced company lending specialist will be in touch to guide you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, 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 twelve months of bank records, IRD statement, last 2 years finalised financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer within an hour – as long as you make your application in standard company hours and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll provide a decision within just one business day.
For Larger Business Loans ($100K or more) we may be capable of provide the conditional pre-approval within six hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Some agreements have been approved in 24 hours.
The quickest way to apply would be to make sure you apply during standard business hours and allow us to use the advanced bank verification system link to instantly confirm your bank details online. If you opt to upload the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer within one hour if you make your application at normal business times and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statements, we’ll be able to provide an answer within an business day.
For Larger Business Loans ($100K and up) we could be capable of provide you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Some offers have been approved in 24 hours.
The most efficient method would be to ensure you apply during normal business hours. Also, allow us to use our advance bank verification to confirm your bank details online. If you upload documents from your account accounts, it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a particular amount, we consider a variety of elements that determine your health that is your company and the extent of repayments that your business can support. The total amount of your loan will be contingent on the particular circumstances for your company.
When you apply for a certain amount, we will consider a number of factors to determine how much we can lend you such as health that is your business and the level of repayments that your business is able to afford. The amount you receive from your loan will depend on the particular circumstances for your business.
If you decide to request the business loans, we will assess the risk assessment for your business and provide an individualised offer that includes the amount of loan, the term and interest rates. This company loan is a loan that is priced upfront therefore you will know the exact amount due, which includes any interest rates, fees or charges.
Interest rates for business loans rates depend on several factors like the amount of money that is borrowed, what business assets the funds will be used for as well as the field the business operates in, how long the company has been in operation, how long the business has sufficient cash flow to fund the loan, and overall well-being or creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know precisely how much you need to pay and at what time, from day one. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You can make an application for loans with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can choose to repay the entire amount of the loan at any point in time.
If you choose to do this please contact our helpful business credit specialists. The professionals will provide you with repayment details as well as an early payout amount. This is calculated as the total of the remaining principal amount and accrued interest to the time of the early payout and 1.5 percent of the remaining principal as well as any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either weekly or daily. They will be automatically deducted from the nominated company account.
Security of your data, and being upfront about the ways we gather, use, exchange and protect your information, is crucial and a vital part of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We employ a highly sophisticated bank verification system link to immediately verify the bank account details online, allowing us to offer a fast response.
Asset-based borrowing is when the company owner utilises an asset that they own to obtain the funds for a loan. The asset could be an individual property, such as the family home, or a business asset such as a truck as well as a piece of machine.
The majority of the lenders including the largest banks, are inclined to make loans secured by an asset. If you have trouble paying back the loan, then the asset could be transferred to the lender. In essence it’s the process of securing new financing by using the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not required before you can access the money however, we require a personal guarantee. need an individual guarantee. If you adhere to the terms of your loan (as stated in the loan contract) Asset security will never be needed. For loans of over $150,000 typically, you will need an individual guarantee and security in the form charges on assets.
Although we cannot assist with an unsecured business loan in the above industries, we might be able to help you with the secured business loan.
