Services in Epuni
- Epuni Unsecured Business Loans
- Business Finance Epuni
- Business Lending Epuni
- Business Loans Epuni
- Epuni Small Business Finance
- Business Funding Epuni
- Working Capital Epuni
- Small Business Lending Epuni
- Short Term Business Loan Epuni
The requirements for getting an unsecured business loan in Lower Hutt of between $5K and $100K is fairly low.
Need more funds? Check out the eligibility requirements for our $100K to $500K business loan.
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 lend, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
After we start, for loans of more than $150,000 you will also need basic financial statements:
Let’s get started now.
Lower Hutt 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.
The application to the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and the money could be available in just 24 hours. Traditional company loans are based on an interest rate per annum as well as other fees and charges. Our company loan is an upfront priced loan and you’ll be aware of the total amount payable including any fees, interest or charges. Then, it is broken down into a daily or weekly installment amount.
It is a Small Business Loan can be used to fulfill almost any business purpose including the management of cash flow, business improvements, advertising to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
To be eligible for a loan in this amount the business needs to have been operating for a minimum of 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan can be used to fund almost any company use, including business renovations, purchase of inventory or new equipment or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. It’s by way of charge over assets and can include the registration of this on the PPSR or filing as a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is generally based rather than defining the security for a particular asset. The person who is signing the ensure is personally liable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including the assets or goods). The PPSR permits the priority of personal property 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 the legal claim on a property.
When you’re applying for larger company loans that is greater than $250,000 we can offer an initial pre-approval to ease the process. We could be able to get this done without a credit check and within 6 hours of the initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial health questions. It’s neither an offer nor a guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you might receive could be based on different terms.
You are eligible to apply for an company loan if you:
The application process is quick and easy. Just fill out the online application within a couple minutes, and a dedicated business loan specialist will contact you to guide you through the process.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Information about the application 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 and 12 months of bank statements, IRD statement as well as the two most recent years’ financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within one hour if you make your application in standard company timings and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your banking statement, we’ll offer a decision within 1 company day.
For Larger Business Loans ($100K to $500K) we may be able to provide you with conditional pre-approval in about 6 hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this may be quicker depending on the particular circumstances of each application. Certain transactions have received approval within just 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and permit us to use the modern bank verification to instantly check your bank’s information online. If you choose to send us documents from your account accounts, it will take a little longer.
For the Small Business Loan ($5K and up) we typically provide a response in one hour – as long as you apply during standard business time and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to upload copies of your bank statement, we’ll offer the decision in as little as 1 business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer the conditional pre-approval within about six hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this can be faster depending upon the circumstances for each application. Some deals have been approved in 24 hours.
The most efficient method is to make sure you apply during standard business hours and allow us to use the sophisticated bank verification link to verify your bank information online. If you choose to upload duplicates of your banking statements, it will take a little longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a specific amount we look at a variety of elements for determining what is the well-being of your business and the level of repayments your company can support. The amount you receive from your loan will be contingent on the particular circumstances that are unique to your business.
When you submit an application for a specific amount we look at a range of variables to assess the well-being of your company and the extent of repayments that your business can afford. The amount you receive from your loan will be contingent on the specific circumstances of your business.
If you decide to make an application for business loans with us business credit, we will assess the risk profile that you have for your company and offer an individualised proposal that includes loan amount, term and interest rates. A business loan is an upfront-priced loan therefore you will be aware of the total amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates depend on several factors like the amount of money that is borrowed, what company assets the funds will be used for and the sector the business operates in, the long the company has been running, whether the business has sufficient cash flow to fund the loan, and the general well-being as well as creditworthiness business.
There are no hidden costs with our company loans. You’ll know precisely how much it is that you be required to pay, and when, from the first day. There’s no compounding and no extra fees (as as you make your payments on time).
We don’t charge an Application Fee. You are able to apply for a loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can decide to repay all of your loan early at any time.
If you decide to pursue this option, please contact our helpful company credit experts. They’ll offer you with details on repayment and an early payment figure. This is calculated as the total of the principal balance and the accrued interest up to the time of early payout, plus 1.5% of the principal amount remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow general, we offer repayments that are either daily or weekly. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and making it clear the ways we gather data, process, exchange and protect your information, is vital and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We employ an exceptionally sophisticated banking verification system to immediately verify the bank account details online. This allows us to offer a fast response.
Asset-based borrowing is when a business owner utilises an asset they own to make the funding. The asset can be either an asset belonging to the personal, like the family home, or an company asset such as a vehicle or piece or equipment.
The vast majority of banks, not just the big banks, tend to make loans secured by assets. If you have trouble paying back the loan then your asset may be sold by the lender. In essence it is a way of securing new financing taking advantage of the value of what you already have.
For loans up to $150K it is not necessary to secure assets upfront to access the money, however we do need the personal guarantee. As long as you follow your loan obligations (as stated in your loan contract) the security of assets will never be needed. For loans over $150K typically, you will need a personal guarantee and security in the form of the charge of assets.
