The requirements for getting an unsecured business loan in Lower Hutt of between $5K and $100K is fairly low.
Looking for more funding? Take a look at the conditions of eligibility for our $100K to $500K business loans.
All that’s needed to begin is your contact information (company name, your name, email, phone) and the amount you want to borrow, and your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not before we can begin:
Once we’ve started in the process, for loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Lower Hutt unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply for this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and have the funds in your account in 24 hours. Traditional company loans reference an annual interest rate along with other charges and fees. This business loan is an upfront priced loan therefore you’ll be aware of the amount you will have to pay, including any fees, interest or charges. This is then divided into a daily or weekly payment amount.
A Small Business Loan can be used to fulfill almost any company need, such as the management of cash flow, business remodels and marketing to purchase inventory or new equipment, or as general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a credit in this amount, your company needs to be operating for a minimum of 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A large company loan can be used to fund almost every business reason, such as company improvements, purchasing 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 needed for funding of more than $150,000. It is usually by taking a charge against assets and can include registration on the PPSR or filing as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature, rather than stating the security for a particular asset. The person who is signing the guarantee is personally liable if the business the borrower fails to re-pay the debt.
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 gives the priority of personal property granted depending on the date that a security interest that is registered.
The caveat can be described as a formal document lodged to provide the legal claim against a property.
If you’re requesting larger company loans that is greater than $250K we can offer an initial pre-approval that will help smooth out the process. It is possible 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 you answering a few financial health questions. It’s not an offer or guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you are offered could be subject to different terms.
You may be eligible for a business loan if you:
The application process is fast and simple. Just fill out the online application within a couple minutes, and a dedicated business loan specialist will call you to guide you through the process.
For a loan of up to $100,000, you’ll need the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent twelve months of bank records, IRD statements as well as the two most recent years’ financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K to $100K) we usually offer a response in one hour, provided you make your application at standard company time and you allow us to utilise the bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statement, we’ll provide the decision in just one business day.
For Larger Business Loans ($100K and up) we could be able to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in just 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours, and permit us to use the modern bank verification to instantly verify your bank information online. If you opt to upload duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour – provided you make your application within standard business times and allow us to use the bank verification system link to immediately verify your bank account information online. If you decide to send us copies of your bank statements we can offer the decision in as little as one business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of offer the conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some agreements have been approved in just 24 hours.
The most effective method for you to apply is make sure you apply during normal business hours, and allow us to use the advance bank verification link to instantly check your bank’s information online. If you decide to upload copies of your bank statements it may take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a certain amount, we look at a variety of elements to determine the well-being for your business and the amount of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the specific circumstances the business.
When you make an application for a certain amount, we take into consideration a variety of elements to determine how much we can lend you such as health for your business as well as the amount of payments your company can afford. The amount you receive from your loan will be contingent on the particular circumstances for your business.
When you make an application for our business credit, we will assess the risk profile the business and offer an individualised offer that includes the amount of loan, the term and interest rates. It is a company loan is an upfront-priced loan therefore you will know the exact amount payable including any charges, interest rates or fees.
Business loan interest rates differ based on various factors including the amount of money borrowed, the business assets the funds will be used for, the industry the company is in, how long the business has been operating, in the event that the company has sufficient cash flow to pay for the loan, as well as the general health or creditworthiness of the business.
There are no hidden costs for our company loans. You’ll know precisely how much you’ll need to pay, and when, 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 apply for a loan with no cost upfront or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back the total amount of your loan at any point in time.
If you do decide to do this please talk to one of our helpful company credit professionals. The specialists will offer you with repayment details and an early payment figure. It will be calculated using the total of the principal balance and accrued interest to the time of early payout plus 1.5% of the remaining principal and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align with your cash flow general, we provide repayments either daily or weekly. These are automatically withdrawn from your designated business account.
Protecting your information, and knowing how we collect the information we collect, use, share and protect your information, is of paramount importance and is an essential aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our customers and privacy. We employ an exceptionally sophisticated bank verification system to immediately confirm your bank account information online. This allows us to provide a fast response.
The term "asset-based" refers to borrowing where an company owner utilises assets they own to make the funds for a loan. The asset may be an asset belonging to the personal, like the family home or a company property like a truck or piece of equipment.
The vast majority of lenders, not just the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, then the asset could be taken over by the lender. In essence it is the process of securing new funding making use of the value of what you already own.
Up to $150,000 in loans there is no requirement for asset security before you are able to access the money, however we require a personal guarantee. require a personal guarantee. So long as you comply with the loan terms (as stipulated in your loan contract document) and you are able to meet your obligations, asset security will never be needed. If you take out loans in excess of $150,000 generally there is the option of a personal ensure and security in the form of a charge over assets.
