The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you need more money? Review the conditions of eligibility for our $100K-$500K company loan.
All that’s needed to get started is your contact details (the name of your company, your name, email, phone) along with the amount you’d like to lend, and your monthly income.
While in the process and before settlement we will require confirmation of your identity but not before we can begin:
After we start when it comes to loans greater than $150,000 you will also require fundamental financial statements:
Let’s get started now.
Auckland unsecured loans offers amounts of 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.
Apply to the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an answer within the same day and the money could be in your account within 24 hours. Traditional business loans reference an annual interest rate along with other charges and fees. Our business loan is a loan that is priced upfront so you will know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into either weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost any company use, including cash flow management, company renovations, marketing for purchasing inventory or new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate the flow of cash.
A Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount, your business needs to have been in operation for at least 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large business loan can be used for nearly all business use, including business improvements, purchasing new equipment or inventory as well as for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary to access funding over $150,000. It is usually in the form of a charge over assets, and may include the registration of this through the PPSR or filing a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is general in nature rather than specifying the security of a specific asset. The person who is signing the guarantee is personally liable if the company the borrower fails to pay back 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 granted to individuals who own personal property (including items or assets). The PPSR permits preference over private property granted according to the date the security interest has been registered.
An affidavit is an official document filed to provide the legal claim against a property.
If you’re seeking the Larger Business Loan that is greater than $250,000, we may offer a preliminary pre-approval to help make the process. We may be able to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is made based on an initial evaluation that involves the answer to a series of financial health checks. It is neither an offer nor a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer you might receive could be based on different conditions.
You are eligible to apply for a business loan if you:
The application process is quick and easy. Complete the online form in just a few minutes, and an experienced company lending specialist will be in touch to guide you through the process.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License) as well as an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent twelve months of bank records, IRD statement Last 2 years’ finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we usually offer an answer in just one hour if you submit your request in quality business hours and permit us to utilise the bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements , we will be able to offer the decision within an business day.
For the Larger Business Loan ($100K and up) we might be capable of offer the conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this can be quicker based upon the circumstances for each application. Certain agreements have been approved in less than 24 hours.
The fastest way would be to make sure you apply during standard business hours and allow us to use the advance bank verification to instantly verify your bank account information online. If you choose to send us duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K or more) we can often offer an answer within one hour – provided you submit your request during standard business times and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your bank statements, we will be able to provide a decision within 1 business day.
For Larger Business Loans ($100K and up) we might be capable of offer you with a conditional pre-approval within six hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Some deals have been approved within just 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours, and allow us to use the advance bank verification link to check your bank’s information online. If you decide to send us copies of your bank statements it can take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a particular amount, we look at a variety of factors for determining the well-being that is your business and the level of repayments your company will be able to support. The amount you receive from your loan will depend on the specifics that are unique to your company.
If you apply for a particular amount, we look at a range of factors to determine your well-being of your company and the extent of repayments that your business can support. The total amount of your loan will be contingent on the particular circumstances the business.
If you decide to make an application for the business loans, we will assess the risk assessment of your company and provide you with a tailored proposal that includes the loan amount, the terms and the interest rates. A company loan is a loan that is priced upfront so you will be aware of the total amount payable including any charges or interest.
The interest rates on company loans rates depend on several factors including the amount borrowed, what business assets the money will be used for as well as the field the business operates in, how long the company is in operation for, in the event that the company has enough cash flow to fund the loan, and also the general well-being and creditworthiness of the company.
There are no hidden fees for our business loans. You’ll know exactly how much you need to pay, and when, right from the first day. There’s no compounding and there are no additional charges (as long as you make your payments in time).
We don’t charge an application fee. You can apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee is the cost associated with the setting up and management of 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 loan amount.
You can choose to repay the entire amount of your loan in full at any time.
If you choose to do this please talk to one of our helpful company lending specialists. They will offer you with details for repayment along with an early payout estimate. This is calculated as the total of the principal balance plus any accrued interest as of the date of early payout plus 1.5% of the principal remaining as well as any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your nominated company account.
Making sure that your information is secure, and making it clear how we collect the information we collect, use, share and protect your information, is of paramount importance and a vital part of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and security. We utilise a sophisticated bank verification system link to instantly verify your bank account details online, allowing us to provide a fast response.
Asset-based borrowing occurs when the company owner uses the assets they have to secure a loan. The asset could be an individual property, such as the family home or a company asset like a truck or piece or equipment.
The vast majority of lending institutions, even the major banks, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be offered for sale by the lender. In essence it is the process of securing new financing making use of the value of what you already have.
Up to $150,000 in loans it is not necessary to secure assets prior to the loan’s access However, we do need the personal guarantee. If you adhere to your loan commitments (as stipulated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150,000 generally there is personal ensure and security in the form charges on assets.
