The requirements for obtaining an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Are you looking for additional funding? Review the conditions of eligibility for our $100K-$500K company loan.
All that’s needed to get started is your contact details (company name, your name, email and phone), how much you’d like to borrow and your monthly revenue.
Through the process and before settlement we’ll need confirmation of who you are, but not for starting:
Once we’ve started in the process, for loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started.
Auckland unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes by phone. You will receive an immediate response, and have the funds available in just 24 hours. Traditional company loans refer to an interest rate per annum as well as other fees and charges. This business loan is a loan that is priced upfront so you will know ahead of time the total amount to be paid, including any interest, fees or charges. Then, it is divided into a daily or weekly installment amount.
A Small Business Loan can be used for nearly any business use, including control of cash flow business remodeling, marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans are between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
This 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 the business needs to have been trading for at least 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used for nearly every company purpose including company renovations, purchase of inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
Asset security is necessary to access funding over $150,000. This can be done as a result of an charge on assets, and may include registering this through the PPSR or filing a caveat.
A director’s or personal ensure is a promise to repay credit that is general in nature rather than stipulating security over a particular asset. The person who is signing the guarantee is personally responsible if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR permits the priority of personal property assigned in accordance with the date on which a security interest was registered.
The caveat can be described as a formal document lodged to offer notice of a legal claim on a property.
When you’re applying for the Larger Business Loan that exceeds $250K we can offer an initial pre-approval that will help smooth out the process. We could be able to make this decision without a credit check and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial well-being questions. This is in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you receive could be subject to different terms.
You can apply for a company loan if you;
The process for applying is fast and simple. Simply complete the online form within a couple minutes, and a dedicated company credit specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll require the right identification documents (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Information on the application including credit consent and 12 months of bank statements, 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 make your application within standard company hours and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements , we’ll be able to offer the decision within just 1 business day.
For Larger Business Loans ($100K or more) we may be able to provide the conditional pre-approval within 6 hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain agreements have been approved in just 24 hours.
The quickest way to apply would be to ensure you apply during normal business hours. Also, allow us to use the advance bank verification to check your bank’s information online. If you choose to upload copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within an hour – provided you submit your request at standard business time and permit us to use the bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statement, we’ll provide an answer in just the span of one business day.
For Larger Business Loans ($100K to $500K) we may be able to offer you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Certain transactions have received approval in less than 24 hours.
The quickest method can be ensure you apply during standard business hours, and allow us to use our advanced bank verification system link to confirm your bank details online. If you choose to send us documents from your account statement, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a specific amount we look at a variety of elements in order to assess what is the health for your company and the amount of the repayments your company can support. The total amount of the loan will be determined by the specific circumstances the company.
When you apply for a specific amount we consider a variety of elements to determine how much we can lend you such as health of the business as well as the amount of repayments your business is able to afford. The amount you receive from your loan will be contingent on the specific circumstances for your company.
When you apply for business loans with us company credit, we will assess the risk assessment for your company and offer an individualised offer that includes loan amount, term and the interest rates. It is a company loan is an upfront-priced loan which means you be aware of the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for company loans rates differ based on various factors such as the amount that is borrowed, what business assets the money will be used for, the industry the company is in, how long the business has been in operation, whether the company has enough cash flow to pay for the loan, and also the overall health and creditworthiness of the company.
There are no hidden costs for our business loans. You’ll know precisely how much you need to pay, and when, starting from day one. There’s not any compounding interest and no extra fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with without any upfront costs or commitment to apply.
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. The Origination Fee for us is 2.5 percentage of the loan amount.
You can repay all of your loan in full at any time.
If you are deciding to pursue this option, please speak to our friendly business loan specialists. They will provide you with the details of your repayment and an early payment figure. This is calculated as the sum of the principal balance and the accrued interest up to the date of early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
To make sure you do not miss payments and to work with your cash flow standard, we offer repayments either weekly or daily. These are automatically withdrawn from your nominated business account.
Security of your data, and making it clear how we collect, use, exchange and ensure the security of your information is crucial and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their privacy. We use an advanced bank verification system link to immediately verify your bank account information online to offer rapid response.
Asset-based borrowing is when the company owner uses assets they own to obtain the funds for a loan. The asset can be either an individual property, such as the family home or it could be a business asset such as a truck or piece or equipment.
The majority of the lenders not just the banks with the biggest size, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, the asset could be offered for sale by the lender. In essence it’s the process of securing new financing using the value of what you already have.
For loans that exceed $150,000, no asset security is required upfront to access the money however, we require a personal guarantee. require the personal guarantee. If you adhere to your loan commitments (as stated in your loan contract document), asset security is not required. For loans over $150,000 generally there is an individual guarantee and security that is in the form an asset charge.
