The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K company loans.
All that is needed to get started is your contact details (the name of your company, your name, email address and telephone) along with the amount you’d like to lend, and your monthly revenue.
In the course of the process and before settlement we will need confirmation of your identity, but not before we can begin:
Once we’ve started in the process, for loans over $150,000 you’ll also need the following financial statements:
Let’s get started.
Auckland unsecured loans offers 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.
Apply to get your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an instant response and funds may be in your account within 24 hours. Traditional company loans have an interest rate per annum as well as other fees and charges. This company loan is a loan that is priced upfront and you’ll be aware of the total amount to be paid, including any interest, fees or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used to fulfill almost any business need, such as managing cash flows, business remodels and marketing to purchase inventory or new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
A 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 loan in this amount, your business needs to have been in operation for at least 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, 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 nearly any business purpose including business renovations, to purchase equipment or inventory, as general working capital, and much more. The loan is not available for personal use.
Asset security is required to obtain funding above $150,000. It’s by taking a charge over assets, and could include registering this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is general in nature, rather than specifying the security of a specific asset. The person signing the ensure is personally liable in the event that the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR permits preference over private property assigned in accordance with the date on which a security interest has been registered.
Caveats are legal document that is filed to provide the legal claim to a property.
When you’re applying for the Larger Business Loan that exceeds $250K, we may offer an initial pre-approval that will help simplify the process. We might be able to make this decision without a credit verification and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering some financial health checks. It’s in no way an offer, nor is it a guarantee of funds. A conditional approval is subject a full credit assessment and any offer you might receive could be on different terms.
You may apply for an company loan if you
The process for applying is fast and simple. Simply complete the online form within a couple minutes, and an experienced company expert in lending will contact you to assist you.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent and 12 months bank statement, an IRD statements, last 2 years finalised financial statements, as well as interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) We can usually provide a response in one hour – as long as you make your application during quality company hours and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements , we will be able to offer an answer within 1 business day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be in a position to offer the conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Certain deals have been approved within just 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours and allow us to use our modern bank verification link to instantly confirm your bank details online. If you send us copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer in just one hour – provided you make your application at normal business times and let us use the advanced bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statements, we will be able to offer a decision in just one business day.
For Larger Business Loans ($100K to $500K) we might be capable of offer you with conditional pre-approval within 6 hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however this can be faster depending upon the circumstances for each application. Some transactions have received approval within 24 hours.
The most efficient method is to make sure you apply during normal business hours. Also, allow us to use our modern bank verification to check your bank’s information online. If you decide to send us duplicates of your banking accounts, it may take a bit longer.
We provide loans ranging from $5,000 to $500,000. When you submit an application for a specific amount we consider a variety of aspects to determine how much we can lend you well-being of the business and the level of repayments that your company will be able to support. The total amount of your loan will depend on the specific circumstances for your company.
When you make an application for a set amount, we will consider a number of factors to assess how much we can lend you such as well-being for your company and the level of repayments that your company will be able to support. The total amount of your loan will be contingent on the specific circumstances of your company.
If you decide to request one of our business loan, we will assess the risk profile for your company and provide an individualised proposal that includes the amount of loan, the term and the interest rates. The business loan is an upfront cost loan which means you 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 such as the amount that is borrowed, the company assets the money are used to purchase and the sector the company operates in, how long the business has been operating, in the event that the company has enough cash flow to support the loan, and the general well-being or financial standing of the business.
There are no hidden fees for our business loans. You’ll be aware of the amount you’ll be required to pay, and when, starting from the first day. There’s not any compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We do not charge an application fee. You are able to get a cash loan no cost upfront or obligation to proceed.
The Origination Fee is the cost associated with setting up and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can choose to repay the total amount of your loan in full at any time.
If you decide to take this route, please talk to one of our helpful company loan specialists. They will offer you with repayment details as well as an early payout amount. This is calculated as the sum of the remaining principal amount and accrued interest to the time of early payment in addition to 1.5 percent of the principal balance as well as any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow routine, we provide payments that are either daily or weekly. These are automatically deducted from the nominated company account.
Security of your data, and knowing how we collect, use, exchange and protect your information, is crucial and is an essential element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We use an advanced banking verification system to immediately verify your bank account details online, allowing us to offer a fast response.
An asset-based loan is when an business owner borrows from an asset that they own to make the loan. The asset may be an individual property, such as the family home or an company asset such as a vehicle or piece of equipment.
The vast majority of banks, including the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan then your assets could be sold by the lender. In essence it is the process of securing new financing by taking advantage of the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets in advance to gain access to the funds However, we do need the personal guarantee. So long as you comply with your loan commitments (as stated in your loan contract document) Asset security will never be required. For loans of over $150K generally, there is personal guarantee and security that is in the form an asset charge.
