The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Need more funds? Review the eligibility requirements for our $100K to $500K business loan.
All that is needed to start is your contact details (the name of your company, your name, email address, phone) as well as the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will require confirmation of your identity but not to get started:
Once we’ve started with loans greater than $150,000 you’ll require fundamental financial statements:
Let’s get started now.
Auckland unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
You can apply for the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an instant response and the funds could be in your account within 24 hours. Traditional business loans have an interest rate per annum along with other charges and fees. We offer a business loan is an upfront priced loan therefore you’ll be aware in advance of the amount you will have to pay, including any fees, interest or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for almost every business reason, such as the management of cash flow, business renovations, marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.
To be eligible for a loan of this size the business needs to have been trading for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost any business reason, such as company renovations, to purchase equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary for accessing funds over $150,000. It’s as a result of an charge against assets, and could be registered on the PPSR or filing a caveat.
A personal or director’s ensure is a commitment to repay a loan which is general in nature rather than stipulating security over an asset. The person who signs the ensure is personally accountable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including the assets or goods). The PPSR permits priority over personal property to be assigned according to the date the security interest has been registered.
An affidavit is an official document lodged to offer the public notice of a legal claim to a property.
If you’re applying for the Larger Business Loan that is greater than $250,000 it is possible to offer a preliminary pre-approval to help make the process. We may be able to get this done without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial well-being questions. It is not an offer or guarantee of credit. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you receive could be subject to different terms.
You may apply for a business loan if you:
The application process is fast and easy. Just fill out the online application within a few minutes and a dedicated business expert in lending will contact you to guide you through the process.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
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 loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, in addition to interim current financial year financials as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K or more) we typically offer a response in one hour if you apply at standard business timings and let us utilise the bank verification system to instantly verify your bank details online. If you want to submit copies of your bank statements , we will be able to offer the decision in as little as one business day.
For the Larger Business Loan ($100K or more) we might be able to provide you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this can be quicker based upon the circumstances for each application. Certain transactions have received approval within the space of 24 hours.
The quickest method would be to ensure you apply during standard business hours. Also, allow us to use the modern bank verification to check your bank’s information online. If you upload copies of your bank accounts, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer in just one hour if you submit your request at standard business time and you allow us to use the bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements, we are able to provide a decision within an business day.
For Larger Business Loans ($100K up to $500,000) we might be able to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in 24 hours.
The most effective method is to make sure you apply during normal business hours. Also, allow us to use the sophisticated bank verification to verify your bank account information online. If you choose to upload documents from your account statement, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a certain amount we will consider a number of aspects for determining the health of your company and the amount of repayments your business will be able to support. The amount you receive from your loan will depend on the specific circumstances the business.
If you apply for a set amount, we take into consideration a variety of aspects to determine the well-being of your company as well as the amount of the repayments your company can afford. The amount you receive from your loan will be determined by the particulars of your business.
If you decide to make an application for the company loans, we will assess the risk profile that you have for your company and offer you with a customised offer, including loan amount, term and interest rates. It is a business loan is an upfront cost loan therefore you will know in advance the total amount to be paid, including any charges or interest.
Business loan interest rates depend on several factors such as the amount that is borrowed, the business assets the funds will be used for, the industry the business operates in, how long the company has been in operation, how long the company has sufficient cash flow to cover the loan, and overall health and creditworthiness of the company.
There are no hidden costs with our company loans, and you’ll know exactly how much you’ll be required to pay, and at what time, from the day you sign up. There’s no compounding interest, and no additional fees (as as you make your payments in time).
We do not charge an application fee. You can get a cash loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the total amount of your loan early at any time.
If you decide to pursue this option, please call our helpful business loans professionals. We will provide you with details on repayment as well as an early payout amount. It will be calculated using the sum of the principal balance and the accrued interest up to the time of early payout plus 1.5% of the principal balance plus any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from the nominated business account.
Security of your data, and knowing how we collect information, use it, and exchange it, as well as ensure the security of your information is vital and a vital part of our relationship you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We make use of an advanced bank verification system link to immediately verify the bank account details online. This allows us to offer a fast response.
Asset-based borrowing occurs when the business owner makes use of an asset that they own to make the funding. The asset can be either an individual asset, such as the family home or an business asset such as a truck or other piece of machinery.
The majority of lending institutions, even the banks with the biggest size, prefer to secure loans against an asset. If you are having difficulty paying back the loan, then the asset could be taken over by the lender. In essence it’s an opportunity to secure new funding making use of the value of what you already have.
Up to $150K in loans there is no requirement for asset security in advance to gain access to the funds but we do require an individual guarantee. As long as you follow your loan commitments (as stated in your loan contract document), asset security is not required. If you take out loans in excess of $150,000 generally there is personal guarantee and security in the form a charge over assets.
