The eligibility requirements for an unsecured business loan in Wellington of between $5K and $100K are pretty minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K business financing.
All that’s needed to begin is your contact details (the name of your company, your name, email or phone number), how much you’d like to borrow as well as your monthly income.
During the process and before settlement we’ll need confirmation of who you are but not to get started:
Additionally after we get started, for loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started.
Wellington unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and the money could be in your account in 24 hours. Traditional company loans have an annual interest rate along with other charges and fees. Our business loan is an upfront priced loan which means you know in advance the total amount due, which includes the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for nearly every company reason, such as managing cash flows, business remodeling, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly, depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount the business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger company loan is a great option for almost all business need, including company improvements, purchasing equipment or inventory or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required to access funding over $150,000. This is in the form of a charge on assets, which could also include registering this with the PPSR or filing as a caveat.
A director’s or personal ensure is a guarantee to pay off a credit line that is generally in nature rather than stipulating the security of a specific asset. The person who is signing the ensure is personally liable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR allows priority over personal property to be assigned in accordance with the date on which a security interest that is registered.
Caveats are legal document that is filed to provide the public notice of a legal claim on a property.
If you’re seeking a Larger Business Loan of more than $250K we can offer an initial pre-approval that will help smooth out the process. It is possible to make this decision without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves you answering some financial well-being checks. It is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you receive could be subject to different terms.
You can apply for a business loan if you
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated company loan specialist will contact you to assist you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent as well as 12 months of bank statements, IRD statements, last 2 years finalised financial statements, in addition to interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually provide an answer in just one hour if you submit your request in quality company hours and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statements , we are able to offer a decision in just 1 company day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be likely to provide you with pre-approval conditional to your application in around 6 hours. Once you have signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some offers have been approved within less than 24 hours.
The most efficient method can be make sure you apply during normal company hours, and permit us to use the advance bank verification to instantly confirm your bank details online. If you choose to send us documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour – as long as you make your application in standard business timings and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statements, we’ll be able to offer an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be capable of offer you with conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Some offers have been approved in just 24 hours.
The fastest way is to ensure you apply during normal business hours, and let us use the advanced bank verification system to instantly check your bank’s information online. If you decide to send us copies of your bank statement, it can take a bit longer.
We provide loans that range from $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of variables for determining how much we can lend you well-being for your company as well as the amount of the repayments your business will be able to support. The total amount of your loan will depend on the specifics that are unique to your company.
When you submit an application for a specific amount we look at a range of factors to determine the well-being of your business and the extent of payments your business can afford. The amount you receive from your loan will be determined by the specific circumstances that are unique to your business.
When you make an application for one of our company loan, we’ll assess the risk profile the business and provide you with a tailored offer including the amount of loan, the term and interest rates. It is a company loan is an upfront priced loan and you’ll be aware in advance of the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for company loans rates depend on a variety of factors including the amount borrowed, the business assets the money are used to purchase as well as the field the business is operating in, how long the company has been in operation and whether the business has sufficient cash flow to fund the loan, and also the general health or creditworthiness of the business.
There are no hidden costs with our business loans. You’ll know precisely how much you’ll need to pay, and when, right from day one. There’s not any compounding interest and no extra fees (as as long as you pay your payments on time).
We don’t charge an application fee. You can apply for a loan with with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay all of your advance loan at any time.
If you do decide to do this please talk to one of our helpful company credit specialists. The experts will offer you with repayment details and an early payout figure. This is calculated as the total of the principal balance and any accrued interest at the time of early payout, plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure you do not miss payments and to work with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from your company account.
Security of your data, and making it clear how we collect data, process, exchange and secure your information, is of paramount importance and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We utilise a sophisticated bank verification system link to immediately confirm your bank account information online to provide an immediate response.
The term "asset-based" refers to borrowing where a business owner utilises the assets they have to get the funds for a loan. The asset may 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 vast 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 your assets could be taken over by the lender. In essence, it’s an opportunity to secure new funding using the value of what you already own.
For loans of up to $150,000, there is no requirement for asset security upfront to access the money however, we require a personal guarantee. need an individual guarantee. In the event that you fulfill the loan terms (as specified in your loan contract document) the security of assets will never be needed. If you take out loans in excess of $150,000 generally, there is the option of a personal guarantee and security that is in the form charges on assets.
