The requirements for obtaining an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Are you looking for additional funding? Find out the conditions of eligibility for our $100K-$500K company loan.
All that is needed to get started is your contact information (company name, your name, email or phone number), how much you’d like to borrow and your monthly earnings.
In the course of the process and before settlement we’ll require confirmation of your identity but not before we can begin:
After we start in the process, for loans over $150,000 you will also require basic financial statements.
Let’s get started.
Auckland unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
The application for the Small Business Loan in under 10 minutes on the phone. You’ll receive an answer within the same day and have the funds in your account in 24 hours. Traditional business loans refer to an interest rate per annum plus other fees and charges. Our company loan is a pre-paid loan which means you know in advance the total amount payable including the interest, fees and charges. This is then divided into weekly or daily installment amount.
The Small Business Loan can be used for virtually any business purpose including managing cash flows, business remodels and marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your company needs to be operating for at least three years and generate an annual revenue of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used to fund almost all business use, including business improvements, purchasing equipment or inventory, as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed to access funding over $150,000. This can be done by way of charge on assets, which could also include the registration of this through the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is general in nature rather than stipulating the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be granted in accordance with the date on which a security interest that is registered.
An affidavit is an official document filed to provide the public notice of a legal claim to a property.
When you’re applying for an enterprise loan that is greater than $250K we may be able to provide an initial pre-approval in order to make the process. We could be able to do this without a credit verification and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial well-being questions. This is not an offer of credit or guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer that you might receive could be on different terms.
You may apply for a business loan if you;
The process for applying is fast and simple. Simply complete the online form in few minutes and an experienced company lending specialist will call you to assist you.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details for application including credit consent twelve month bank accounts, the IRD statements Last 2 years’ finalised financial statements, and interim current financial year financials as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within an hour if you make your application at quality business time and allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you choose to send us copies of your bank statements , we will be able to provide an answer in as little as 1 business day.
For Larger Business Loans ($100K up to $500,000) we could be able to provide the conditional pre-approval 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, it could be faster based on the particular circumstances of each application. Some deals have been approved in 24 hours.
The most efficient method would be to make sure you apply during standard company hours. You can also permit us to use the advance bank verification link to instantly verify your bank information online. If you choose to send us the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer a response in one hour, provided you submit your request at standard business timings and permit us to use the bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statement, we’ll provide the decision within 1 business day.
For the Larger Business Loans ($100K to $500K) we could be able to offer the conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this can be faster depending upon the circumstances for each application. Certain agreements have been approved within 24 hours.
The most efficient method can be make sure you apply during standard business hours, and allow us to use our modern bank verification to verify your bank account information online. If you opt to send us duplicates of your banking statements it will take a little longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a certain amount, we consider a variety of aspects in order to assess how much we can lend you health of the company and the amount of the repayments your company will be able to support. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
When you submit an application for a particular amount, we will consider a number of variables to assess your health of the company and the amount of repayments that your business is able to afford. The amount you receive from your loan will be determined by the specifics the business.
When you apply for the company financing, we’ll assess the risk profile for your company and provide you with a customised offer, including loan amount, term and the interest rates. This company loan is a loan that is priced upfront which means you be aware in advance of the total amount due, which includes any charges or interest.
Interest rates for company loans rates vary due to factors like the amount of money that is borrowed, what business assets the money are used to purchase and the sector the company operates in, the long the business has been in operation for, what percentage of the business has sufficient cash flow to pay for the loan, and overall well-being or creditworthiness of the business.
There aren’t any hidden costs with our business loans, and you’ll know precisely what it is that you need to pay, and when, starting from the first day. There’s no compounding and no extra fees (as as long as you pay your payments punctually).
We do not charge an Application Fee. You can apply for a loan with no upfront cost or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay all of your loan in full at any time.
If you decide to pursue this option, please contact our helpful business credit experts. We will offer you with the details of your repayment and an early payment figure. It will be calculated using the sum of the remaining principal amount plus any accrued interest as of the date of early payout in addition to 1.5% of the principal amount remaining and any fees that remain unpaid.
To make sure that you don’t miss repayments and to fit in your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your nominated company account.
Protecting your information, and being clear about how we collect information, use it, and exchange it, as well as safeguard your data, is crucial and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We employ a highly sophisticated bank verification system that allows you to instantly verify your bank account details online so we can provide rapid response.
An asset-based loan is when a company owner makes use of an asset they own to obtain the funds for a loan. The asset may be an individual property, such as the family home, or an business asset such as a truck or piece or equipment.
The vast majority of lending institutions, not just the big banks, tend to make loans secured by assets. If you’re struggling to pay back the loan, your asset may be sold by the lender. In essence, it’s a way of securing new financing using the worth of the asset you already own.
Up to $150K in loans it is not necessary to secure assets before you can access the money but we require a personal guarantee. require an individual guarantee. So long as you comply with the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K generally, there is an individual ensure and security is provided in the form of an asset charge.
