The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K to $500K company loan.
All that is needed to start is your contact information (the name of your company, your name, email, phone) along with the amount you’d like to borrow and your monthly income.
While in the process and before settlement we will need confirmation of your identity but not to get started:
In addition, once we have started when it comes to loans over $150,000 you will also need the following financial statements:
Let’s get started.
Auckland unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
You can apply to get your Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and have the funds available in just 24 hours. Traditional business loans are based on an annual rate of interest as well as other fees and charges. Our business loan is a loan that is priced upfront and you’ll know in advance the total amount due, which includes any interest, fees or charges. Then, it is broken down into either a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for nearly any business reason, such as cash flow management, company renovations, marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan in this amount, your company needs to have been trading for at least 3 years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large company loan can be used to fund almost every company purpose including company renovations, purchase of new equipment or inventory as well as for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This can be done as a result of an charge against assets and can include the registration of this in the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is general in nature rather than stipulating security over an asset. The person signing the guarantee is personally liable in the event that the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR permits priority over personal property to be granted according to the date the registration of a security interest.
A caveat is a legal document filed to offer an official notice of a claim on a property.
If you’re requesting an enterprise loan of $250K or more we can offer a preliminary pre-approval to help smooth out the process. We could be able to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is neither an offer nor a guarantee of credit. Acceptance without condition is subject to an extensive credit evaluation and any offer that you are offered could be on different terms.
You can apply for an company loan if you
The process for applying is fast and easy. Complete the online form within a couple minutes, and an experienced company credit specialist will contact you to help you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Information on the application including credit consent, 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) We can usually offer a response in one hour if you apply within standard company times and let us utilise the bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your banking statements we can provide the decision within just one company day.
For the Larger Business Loan ($100K and up) we may be likely to offer you with pre-approval conditional to your application in about six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some offers have been approved within just 24 hours.
The quickest method can be make sure you apply during normal business hours and let us use the advance bank verification to instantly verify your bank information online. If you decide to send us duplicates of your banking statements it may take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer within an hour, provided you make your application within standard business hours and let us make use of the advanced bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your banking statements, we’ll be able to offer the decision within the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we could be capable of provide you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest method is to ensure you apply during standard business hours and allow us to use the advance bank verification link to instantly check your bank’s information online. If you choose to upload documents from your account statement, it may take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we consider a variety of variables in order to assess how much we can lend you health of your company and the amount of the repayments your business is able to afford. The amount you receive from the loan will be determined by the specific circumstances the business.
When you apply for a set amount, we look at a range of variables to determine how much we can lend you such as health for your business and the extent of repayments your business can support. The amount you receive from the loan will be determined by the specific circumstances the company.
When you apply for business loans with us company financing, we will assess the risk profile that you have for your company and provide you with a customised offer, including the amount of the loan, the duration and interest rates. This company loan is an upfront cost loan therefore you will know the exact amount to be paid, including any charges or interest.
Business loan interest rates differ based on various factors including the amount borrowed, the company assets the money are used to purchase in addition to the industry that the business operates in, the long the business has been operating for, what percentage of the business has enough cash flow to cover the loan, and also the general health or creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know precisely what you’ll 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 make your payments in time).
We do not charge an application fee. You are able to apply for a loan with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay the entire amount of the loan early at any time.
If you decide to take this route, please talk to one of our helpful business loan professionals. They’ll provide you with repayment details and an early payment figure. This is calculated as the sum of the principal amount remaining plus any accrued interest as of the date of early payout plus 1.5% of the remaining principal and any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your designated company account.
Protecting your information, and being upfront about the ways we gather information, use it, and exchange it, as well as secure your information, is vital and is a crucial aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our dedication to security for our clients and security. We utilise a sophisticated bank verification system to immediately verify your bank account information online so we can provide a fast response.
An asset-based loan is when the company owner uses an asset they own to get the loan. The asset may be an asset belonging to the personal, like the family home or it could be a company asset such as a vehicle or other piece of machinery.
The vast majority of lending institutions, not just the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan, then the asset might be taken over by the lender. In essence it’s the process of securing additional financing using the value of what you already have.
For loans of up to $150K, no asset security is required prior to the loan’s access however, we do require an individual guarantee. As long as you follow the loan terms (as stated in the loan contract) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150,000 generally, you are able to get an individual guarantee and security in the form charges on assets.
