The criteria for eligibility for an unsecured business loan in Lower Hutt of between $5K and $100K are pretty minimal.
Need more funds? Review the guidelines for eligibility for our $100K to $500K company loan.
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 will need confirmation of who you are but not for starting:
Additionally after we get started, for loans that exceed $150,000, you will also need the following financial statements:
Let’s get started.
Lower Hutt unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes on the internet or over the phone, receive a same day response and the money could be on your account within 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. We offer a company loan is an upfront priced loan therefore you’ll know ahead of time the total amount to be paid, including any fees, charges or charges. This is then broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually any business need, such as managing cash flows, business remodeling, 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 loan size to support company growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To be eligible for a credit of this size the company needs to be operating for a minimum of 3 years and generate an annual revenue of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used for almost every business reason, such as company renovations, purchase of new equipment or inventory as well as for general working capital and so much more. The loan is not available for personal reasons.
Asset security is required for funding of more than $150,000. It is usually in the form of a charge against assets and can include registration in the PPSR or making a caveat.
A personal or director’s ensure is a promise to pay back a loan that is general in nature rather than stating security over an asset. The person signing the ensure is personally liable if the company creditor is unable 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 records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a security interest was registered.
The caveat can be described as a formal document lodged to provide notice of a legal claim to a property.
If you’re seeking larger business loans of $250,000 or more we can offer a preliminary pre-approval to help simplify the process. We could be able to do this without a credit verification and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health checks. This is neither an offer nor a guarantee of credit. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you may receive may be based on different conditions.
You can apply for an company loan if you:
The application process is simple and easy. Just fill out the online application within a few minutes and a dedicated company lending specialist will be in touch to guide you through the process.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Information on the application including credit consent and 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually offer a response in one hour if you submit your request in standard business time and let us utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statement, we’ll offer the decision within just the span of one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we could be able to provide you with pre-approval conditional to your application in about 6 hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval, however it could be faster based on the specifics of each application. Some transactions have received approval within less than 24 hours.
The quickest way to apply is to make sure you apply during normal company hours and permit us to use the advance bank verification to instantly check your bank’s information online. If you decide to send us the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within an hour, provided you submit your request in normal business hours and allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statement, we’ll provide an answer in as little as the span of one business day.
For Larger Business Loans ($100K and up) We may be likely to provide the conditional pre-approval within about six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved in less than 24 hours.
The fastest method is to make sure you apply during normal business hours, and let us use the sophisticated bank verification link to instantly verify your bank information online. If you upload the copies of bank accounts, it may take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of elements that determine what is the health of your business as well as the amount of repayments that your business can support. The amount you receive from your loan will depend on the specifics of your company.
When you apply for a specific amount we look at a range of aspects to assess your health of your business and the level of payments your business will be able to support. The total amount of your loan will depend on the specific circumstances for your business.
When you make an application for one of our company financing, we’ll assess the risk profile of your company and offer an individualised offer, including loan amount, term and interest rates. It is a business loan is a loan that is priced upfront so you will know the exact amount due, which includes any charges or interest.
Business loan interest rates vary due to factors including the amount borrowed, what business assets the funds will be used for, the industry the company is in, how long the company has been in operation, what percentage of the business has enough cash flow to support the loan, as well as the overall health and creditworthiness 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, right from the first day. There’s no compounding interest, and no additional fees (as long as you make your payments in time).
We do not charge an application fee. You can apply for a loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee is the cost associated with setting up and managing 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 loan amount.
You may choose to pay back the entire amount of your loan in full at any time.
If you choose to take this route, please talk to one of our helpful business lending experts. We will offer you with details for repayment and an early payout figure. The figure will be calculated as the total of the principal balance plus any accrued interest as of the time of the early payout in addition to 1.5 percent of the principal balance and any fees that remain unpaid.
In order to help you avoid missing payments and to work with your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from the nominated business account.
The security of your personal information, as well as making it clear the ways we gather, use, exchange and safeguard your data, is of paramount importance and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We utilise a sophisticated bank verification system that allows you to immediately verify the bank account details online, allowing us to provide an immediate response.
Asset-based borrowing occurs when a company owner borrows from an asset they own to get the funding. The asset could be an individual property, such as the family home or an company asset such as a truck or piece or equipment.
The vast majority of lenders, including the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence it is a way of securing new funding taking advantage of the value of what you already have.
For loans of up to $150K, no asset security is required before you are able to access the money but we do need an individual guarantee. So long as you comply with your loan obligations (as specified in the loan contract) the security of assets is not required. For loans over $150K typically, you will need a personal ensure and security that is in the form a charge over assets.
