The criteria for eligibility for an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business loan.
All that is needed to get started is your contact information (company name, your name, email address and telephone), how much you want to borrow, and your monthly earnings.
While in the process and before settlement we will require confirmation of your identity, but not for starting:
In addition, once we have started with loans of more than $150,000 you’ll need the following financial statements:
Let’s get started.
Auckland unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and have the funds available in just 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. Our business loan is a pre-paid loan so you will know ahead of time the total amount due, which includes the interest, fees and charges. This is then divided into a daily or weekly payment amount.
A Small Business Loan can be used for nearly every company need, such as cash flow management, business renovations, marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size, your business needs to be in operation for at least 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A Larger Business Loan can be used to fund almost any company use, including company renovations, to purchase new equipment or inventory or as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required to access funding over $150,000. This can be done by taking a charge against assets, which could also be registered in the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature, rather than specifying security over a particular asset. The person who signs the ensure is personally accountable if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR gives prioritisation over property that is personal to be assigned depending on the date that a registration of a security interest.
An affidavit is an official form of document to offer the legal claim to property.
If you’re seeking larger business loans that exceeds $250K we may be able to provide an initial pre-approval to make the process. We may be able to get this done without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health questions. It is not an offer or guarantee of financing. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you may receive may have different terms.
You may be eligible for an business loan if you;
The application process is fast and simple. Just fill out the online application within a few minutes and an experienced company loan specialist will be in touch to assist you.
To be eligible for up to $100,000, you’ll need identification details (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank records, IRD statement as well as the two most recent years’ financial statements, in addition to interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we can often offer an answer within an hour if you apply at quality company times and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statements , we are able to provide the decision within 1 business day.
For Larger Business Loans ($100K to $500K) we might be likely to provide you with a conditional pre-approval in around 6 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 circumstances of each application. Certain offers have been approved within the space of 24 hours.
The most efficient method can be ensure you apply during standard business hours, and allow us to use our modern bank verification link to check your bank’s information online. If you choose to send us copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within one hour, provided you submit your request within normal business times and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements, we are able to provide a decision within an business day.
For the Larger Business Loans ($100K and up) we could be in a position to offer you with conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain offers have been approved in less than 24 hours.
The quickest method can be make sure you apply during standard business hours, and allow us to use the advanced bank verification system link to confirm your bank details online. If you opt to send us duplicates of your banking statements, it may take a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a certain amount, we will consider a number of factors in order to assess how much we can lend you health that is your company and the level of payments your business can afford. The amount you receive from your loan will be contingent on the specific circumstances the company.
When you apply for a set amount, we take into consideration a variety of variables to determine the health for your company and the level of payments your company will be able to support. The amount you receive from your loan will be determined by the particular circumstances for your business.
When you apply for the business loans, we will assess the risk profile that you have for your business and offer you with a customised offer including the amount of the loan, the duration and interest rates. This company loan is an upfront-priced loan and you’ll know in advance the total amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates depend on several variables like the amount to be of money borrowed, the business assets the money will be used for and the sector the company operates in, the long the company is in operation for, what percentage of the company has sufficient cash flow to support the loan, and the general health and creditworthiness of the business.
There aren’t any hidden charges with our business loans. You’ll know exactly how much it is that you need to pay, and when, right from day one. There’s no compounding interest, and the loan comes with no additional fees (as as you make your payments on time).
We do not charge an Application Fee. You can get a cash loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay all of your loan early at any time.
If you decide to do this please talk to one of our helpful business credit specialists. We will offer you with the details of your repayment and an early payment figure. It will be calculated using the sum of the principal amount remaining and any accrued interest at the time of early payment, plus 1.5% of the remaining principal and any outstanding fees.
To make sure that you don’t miss payment dates and to align with your cash flow general, we provide payments that are either daily or weekly. These are automatically withdrawn from your designated business account.
Protecting your information, and being upfront about the ways we gather data, process, exchange and safeguard your data, is crucial and is an essential aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their privacy. We make use of an advanced bank verification system that allows you to instantly verify the bank account details online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where a business owner makes use of the assets they have to obtain the funds for a loan. The asset may be a personal asset like the family home, or a business asset such as a truck or other piece of machinery.
The majority of lenders, not just the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence, it’s means of securing additional financing taking advantage of the value of what you already have.
For loans up to $150,000 there is no requirement for asset security before you are able to access the money but we require a personal guarantee. need a personal guarantee. If you adhere to the terms of your loan (as stated in your loan contract document), asset security will never be needed. For loans that exceed $150K, generally, you are able to get the option of a personal guarantee and security is provided in the form of an asset charge.
