The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K company loan.
All you need for starting is your contact details (the name of your company, your name, email or phone number) as well as the amount you’d like to lend, and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are, however, not in order to begin:
After we start, for loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started.
Auckland unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
Apply to get the Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the money could be on your account within 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. The business loan is a loan that is priced upfront which means you know ahead of time the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost any business reason, such as cash flow management, company remodels and marketing, to purchase inventory or new equipment, as general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to be in operation for at least 3 years and have an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger company loan can be used for nearly all company use, including company improvements, purchasing new equipment or inventory, as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s by taking a charge against assets, which could also include the registration of this in the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a promise to repay credit that is general in nature, rather than stating the security of a specific asset. The person who is signing the guarantee is personally accountable if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date a registration of a security interest.
Caveats are legal document filed to provide notice of a legal claim to a property.
If you’re seeking the Larger Business Loan that is greater than $250,000 it’s possible to offer a preliminary pre-approval to help simplify the process. We could be able to do this without credit checks and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial well-being questions. This is not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you might receive could be based on different conditions.
You can apply for an business loan if you
The application process is quick and simple. Complete the online form within a few minutes and an experienced company expert in lending will contact you to assist you.
To apply for up to $100,000, you’ll need identification details (valid Driver’s License) and an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Information on the application including credit consent and 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, as well as interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically provide an answer in just one hour – as long as you make your application at quality company timings and you allow us to utilise the bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your bank statements , we will be able to provide a decision within just the span of one company day.
For the Larger Business Loan ($100K and up) we could be likely to offer you with conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Certain offers have been approved within 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours, and allow us to use our advanced bank verification system link to instantly 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 up to $100,000) we can often offer an answer within an hour – provided you apply at standard business time and permit us to use the bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can provide a decision in just one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be capable of provide you with pre-approval conditional to your application within about six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way would be to ensure you apply during normal business hours and permit us to use the sophisticated bank verification to instantly confirm your bank details online. If you choose to upload copies of your bank statement, it will take a little longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount, we look at a variety of factors that determine the health of your company and the extent of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances the business.
When you apply for a specific amount we look at a range of factors to determine your well-being of the company and the amount of repayments your company is able to afford. The amount you receive from your loan will be contingent on the specifics that are unique to your company.
If you decide to make an application for business loans with us business financing, we will assess the risk assessment of your company and offer you with a customised proposal that includes loan amount, term and interest rates. This company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount to be paid, including any interest rates, fees or charges.
Interest rates for business loans rates depend on several factors such as the amount that is of money borrowed, the business assets the funds are used to purchase as well as the field the company operates in, how long the business has been operating, in the event that the business has enough cash flow to pay for the loan, and the general health as well as creditworthiness business.
There are no hidden costs for our company loans, and you’ll know precisely how much you’ll be required to pay and when, starting from the day you sign up. There’s no compounding interest, and there are no additional charges (as long as you make your payments punctually).
We do not charge an Application Fee. You are able to make an application for loans with absolutely no upfront cost and no commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. You are only charged 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 repay all of your loan in full at any time.
If you choose to do this please call our helpful company lending specialists. The experts will provide you with details for repayment along with an early payout estimate. The figure will be calculated as the total of the principal remaining and any accrued interest at the time of early payout, plus 1.5 percent of the remaining principal and any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow standard, we offer repayments either weekly or daily. These are automatically deducted from your business account.
Protecting your information, and being clear about the ways we gather the information we collect, use, share and safeguard your data, is vital and an integral part of our relationship you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We use an advanced bank verification system to immediately verify your bank account information online to offer quick responses.
An asset-based loan is when an business owner utilises an asset that they own to get the funding. The asset could be a personal asset like the family home or it could be a business asset such as a vehicle or piece of equipment.
The vast majority of the lenders even the largest banks, are inclined to make loans secured by an asset. If you have trouble paying back the loan then your asset may be transferred to the lender. In essence, it is an opportunity to secure new financing by using the worth of the asset you already own.
For loans that exceed $150K, the requirement for asset security is not required in advance to gain access to the funds However, we do need the personal guarantee. In the event that you fulfill your loan commitments (as specified in the loan contract), asset security is not needed. For loans over $150,000 generally there is an individual guarantee and security that is in the form a charge over assets.
