A West Harbour unsecured business loan is easy and quick to obtain. Approve your loan in a matter of minutes and start using the funds for your business.
What you can expect:
The conditions for eligibility for an unsecured business loan to be made in West Harbour are fairly minimal.
Call Now 0800 510 024Applying for the business financing within West Harbour with us is easy and takes only less than a minute, with no long lines of paperwork or waiting in line.
Receive approval and funds within 1 – 2 business days.
We are aiming to assist West Harbour companies of all types, whether small, medium or solopreneurs access funding fast so they can use the loan to expand and grow.
The eligibility requirements for an unsecured business loan in West Harbour of between $5K and $100K is fairly low.
Do you need more money? Review the eligibility requirements for our $100K-$500K business loans.
The criteria to be eligible to be eligible for the larger West Harbour company loans of between $100K and $500K include:
Are you looking for a lower amount of funding? Find out the conditions for eligibility for our $5K-$100K West Harbour unsecured company loans.
A West Harbour unsecured loan is perfect for nearly any business need. Get in touch with us today.
Want to get started on one of these as soon as tomorrow? Then get in touch with us or apply online now to get the fastest and most efficient process.
All that’s required for starting is your contact information (the name of your company and your name, as well as email and telephone) as well as the amount you’d like to lend, as well as your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity but not before we can begin:
After we start, for loans that exceed $150,000, you’ll also require fundamental financial statements:
Let’s get started now.
In the wake of traditional lenders and banks tightening their credit terms as well as the continuous stream of alternative and non-bank loan providers that are entering the market offers the perfect source to access.
West Harbour SME’s are now able to access finance through alternate lenders servicing West Harbour who are focused on enabling business expansion or smoothing cash flow challenges. In the past, when personal credit sources (drawing equity from the house loan, or by using credit cards, personal loans and the overdraft) provided the most viable alternative funding solutions for West Harbour that were available.
There is now there is no need of having to rely on the real estate market to secure company loans. With an unsecured loan, business funding is simple. Instead of a traditional term loan from a bank, business finance for an SME with interest rates and loan terms that aid in cash flow are available as business lending options.
There are many advantages associated by separating personal and company debt.
Lower your risks, make your tax time simpler, start with an unsecured busines loan. Make an application today.
One big drawcard for keeping your personal and business assets separate will be the fact that your house isn’t required to be tied to the funds. For a small business loan in West Harbour up to $100K asset security won’t be needed as long as the borrower fulfills the loan requirements.
Businesses are in a more advantageous long-term situation if they can show good credit and debt ability to service.
It is crucial to separate personal from business finances makes it much more seamless with regards to tax time, particularly when determining what is the tax-deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has laid out requirements for evidence to claim deductions on a company’s tax return. This is an area where the IRD have specifically advised on.
Effective cash flow management is vital to the long-term survival in any business. Through keeping the personal financial and company finances separate, businesses can easily view their cash flow, plan and monitor it based on the ability to effectively assess their cash flow position.
West Harbour unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
It is possible to apply for the Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and funds may be in your account in 24 hours. Traditional company loans refer to an annual interest rate together with additional fees and charges. The company loan is a pre-paid loan so you will know in advance the amount you will have to pay, including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used for almost any business use, including managing cash flows, company remodels and marketing to purchase inventory or new equipment, as general working capital and much more. The loan is not available for personal purposes.
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 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan of this size the company needs to have been in operation for at least 3 years, and have an annual income of $700K. You must 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 of proving at minimum 12 months of business.
A large business loan can be used to fund almost all business use, including company renovations, to purchase new equipment or inventory as well as for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This can be done in the form of a charge on assets and can include the registration of this in the PPSR or filing as a caveat.
A director’s or personal ensure is a commitment to repay a loan which is generally based rather than stating the security for a particular asset. The person signing the guarantee is personally liable in the event that the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR gives priority over personal property to be assigned according to the date the security interest was registered.
An affidavit is an official document that is filed to provide notice of a legal claim against a property.
If you’re seeking a Larger Business Loan that exceeds $250K we may be able to provide a preliminary pre-approval to help ease the process. We could be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes the answer to a series of financial well-being questions. It is neither an offer nor a guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer that you receive could have different conditions.
You can apply for a company loan if you:
The application process is quick and simple. Just complete the online application in just a few minutes, and a dedicated company lending specialist will call you to guide you.
To apply for up to $100,000, you’ll need ID details (valid Driver’s License) along with an active NZBN/IRD, and at least six months of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Details for application including credit consent and 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, as well as interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we typically provide an answer within one hour, provided you submit your request during standard company hours and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your banking statements , we will be able to offer a decision in as little as an business day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to provide you with a conditional pre-approval within about 6 hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved within less than 24 hours.
The quickest method is to ensure you apply during standard company hours, and permit us to use the modern bank verification to check your bank’s information online. If you decide to upload documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within one hour, provided you submit your request in standard business time and let us use the bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statements, we are able to provide the decision in as little as an business day.
For the Larger Business Loans ($100K to $500K) we might be likely to offer you with a conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval within less than 24 hours.
The quickest method would be to ensure you apply during standard business hours. Also, allow us to use our advanced bank verification system to instantly verify your bank information online. If you upload duplicates of your banking statements it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount we take into consideration a range of aspects for determining the well-being that is your business and the level of repayments your business can support. The amount you receive from your loan will depend on the specific circumstances that are unique to your business.
When you make an application for a set amount, we will consider a number of aspects to determine the health of your business and the extent of payments your company is able to afford. The total amount of the loan will be determined by the specifics of your business.
If you decide to make an application for our company credit, we will assess the risk assessment for your company and provide an individualised proposal that includes loan amount, term and the interest rates. This company loan is an upfront cost loan and you’ll know the exact amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates vary due to factors such as the amount that is of money borrowed, the company assets the money will be used for in addition to the industry that the business operates in, how long the business has been running for, in the event that the business has enough cash flow to pay for the loan, and overall health or financial standing of the company.
There aren’t any hidden costs for our business loans, and you’ll know exactly how much you’ll be required to pay and when, right from the day you sign up. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We don’t charge an Application Fee. You are able to request a credit loan without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved with establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of your loan early at any time.
If you choose to pursue this option, please talk to one of our helpful business loan professionals. They’ll offer you with repayment details along with an early payout estimate. This is calculated as 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 balance and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow schedule, we provide payments that are either weekly or daily. They will be automatically deducted from your nominated company account.
Making sure that your information is secure, and knowing how we collect, use, exchange and protect your information, is vital and an integral 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 qualified for our dedication to the security of our clients as well as their security. We make use of an advanced bank verification system to instantly verify your bank account information online. This allows us to provide rapid response.
Asset-based borrowing occurs when the company owner makes use of an asset they own to obtain the funds for a loan. The asset can be a personal asset like the family home, or it could be a company asset like a truck or piece or equipment.
The majority of the lenders not just the largest banks, are inclined to guarantee loans against assets. If you have trouble paying back the loan, the asset might be taken over by the lender. In essence it is a way of securing additional financing using the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required before you are able to access the money However, we do require a personal guarantee. If you adhere to the loan terms (as detailed in your loan contract) Asset security is not required. For loans that exceed $150K, typically, you will need personal ensure and security in the form of a charge over assets.
Although we cannot assist with an unsecured business loan for the above industries, we might be able to assist with an secured business loan.
