The requirements for obtaining an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K business loan.
All you need to begin is your contact information (the name of your company, your name, email and phone), how much you’d like to lend, and your monthly revenue.
During the process and before settlement we will need confirmation of your identity, but not before we can begin:
After we start with loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started.
Auckland unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
Apply to the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and have the funds available in just 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. This company loan is a cash-based loan and you’ll know in advance the total amount due, which includes the interest, fees and charges. This is then broken down into weekly or daily payment amount.
A Small Business Loan can be used for virtually every business use, including managing cash flows, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly depending on you cashflow.
This Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
To be eligible for a loan that is this large, your company needs to be trading for at least 3 years with an annual turnover 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 or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger business loan is a great option for almost every business need, including business renovations, purchase of inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. It is usually by taking a charge against assets, and could be registered with the PPSR or filing as a caveat.
A personal or director’s guarantee is a promise to repay credit that is general in nature rather than stating security over a particular asset. The person who signs the guarantee is personally liable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR allows 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 form of document to provide an official notice of a claim to a property.
When you’re applying for a Larger Business Loan of more than $250K we can offer a preliminary pre-approval to help ease the process. It is possible to do this without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves the answer to a series of financial well-being checks. This is not an offer of credit or guarantee of finance. Unconditional approval is subject to an assessment of your creditworthiness and any offer you receive could be based on different conditions.
You may be eligible for a business 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 be in touch to assist you.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent, 12 months of bank records, IRD statements and the last two years’ finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we usually offer an answer within an hour – as long as you make your application at standard company timings and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you decide to submit copies of your bank statements , we are able to offer a decision within just an business day.
For the Larger Business Loan ($100K to $500K) we might be in a position to offer you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Certain offers have been approved within just 24 hours.
The most effective method can be make sure you apply during normal business hours. You can also permit us to use the advanced bank verification system link to instantly verify your bank information online. If you decide to send us the copies of bank statement, it takes a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within an hour if you submit your request at standard business time and let us use the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your banking statement, we’ll provide an answer within one business day.
If you are applying for Larger Business Loans ($100K and up) we might be capable of provide you with conditional pre-approval within 6 hours. Once you have signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this can be faster depending upon the circumstances for each application. Certain offers have been approved within less than 24 hours.
The fastest method would be to make sure you apply during normal business hours. Also, allow us to use the advanced bank verification system link to confirm your bank details online. If you decide to upload the copies of bank statement, it may take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of aspects in order to assess how much we can lend you health of your company as well as the amount of repayments your company can afford. The total amount of your loan will depend on the particular circumstances for your business.
When you submit an application for a specific amount we consider a variety of variables to assess how much we can lend you such as health of your company and the extent of the repayments your company is able to afford. The amount you receive from your loan will be contingent on the particular circumstances the business.
When you make an application for one of our company credit, we will assess the risk profile of your company and provide you with a customised offer, including the loan amount, the terms and the interest rates. The business loan is an upfront priced loan therefore you will know in advance the total amount payable including any charges or interest.
Interest rates for business loans rates depend on several variables like the amount to be that is borrowed, what company assets the money will be used for, the industry the business operates in, how long the business has been running, what percentage of the business has sufficient cash flow to pay for the loan, and the general health and creditworthiness of the company.
There aren’t any hidden charges for our company loans, and you’ll know exactly how much it is that you need to pay, and when, right from the very first day. There’s no compounding and no extra fees (as long as you are able to make your payments on time).
We don’t 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 the setting up and management of the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you do decide to do this please contact our helpful business credit experts. They’ll offer you with details for repayment as well as an early payout amount. It will be calculated using the sum of the principal amount remaining and any accrued interest at the time of early payout and 1.5% of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically withdrawn from your designated company account.
The security of your personal information, as well as making it clear how we collect, use, exchange and protect your information, is of huge importance and a vital part of our relationship you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We utilise a sophisticated banking verification system to immediately verify your bank account details online. This allows us to offer an immediate response.
An asset-based loan is when a company owner utilises an asset that they own to get the funds for a loan. The asset can be a personal asset like the family home, or an business property like a truck or piece of equipment.
The vast majority of the lenders not just the largest banks, are inclined to guarantee loans against assets. If you have trouble paying back the loan, your assets could be sold by the lender. In essence it is means of securing new funding using the value of what you already own.
For loans up to $150,000 there is no requirement for asset security prior to the loan’s access but we require a personal guarantee. require the personal guarantee. If you adhere to the loan terms (as specified in your loan contract document) the security of assets will never be needed. For loans of over $150,000 generally, you can get a personal ensure and security in the form of an asset charge.
