The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the eligibility requirements for our $100K-$500K company loans.
All you need for starting is your contact details (company name, your name, email or phone number) and the amount you’d like to borrow and your monthly revenue.
While in the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
Once we’ve started in the process, for loans over $150,000 you’ll need fundamental financial statements:
Let’s get started.
Auckland unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
Apply to get the Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and the money could be in your account within 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. Our company loan is a pre-paid loan therefore you’ll be aware of the total amount payable including any interest, fees or charges. Then, it is broken down into either weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost every company reason, such as the management of cash flow, business improvements, advertising to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the loan amount.
To be eligible for a loan of this size the company needs to be in operation for at least 3 years and generate an annual revenue of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Larger Business Loan is a great option for almost all business need, including company renovations, to purchase equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary for accessing funds over $150,000. It’s as a result of an charge on assets, and could include the registration of this through the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is generally based rather than stipulating the security for a particular asset. The person signing the ensure is personally accountable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR grants preference over private property granted in accordance with the date on which a security interest was registered.
The caveat can be described as a formal document lodged to provide the public notice of a legal claim on a property.
If you’re applying for a Larger Business Loan that is greater than $250K we may be able to provide an initial pre-approval in order to ease the process. We may be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial well-being questions. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you receive could have different terms.
You can apply for a business loan if you
The application process is fast and simple. Complete the online form within a few minutes and an experienced business lending specialist will contact you to help you.
To apply for up $100,000 you’ll need identification details (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent and 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) we typically offer an answer within an hour if you make your application within quality business time and let us use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statements we can provide the decision within the span of one company day.
For the Larger Business Loan ($100K and up) we may be likely to offer the conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Some offers have been approved within 24 hours.
The quickest method would be to ensure you apply during normal company hours and permit us to use the advanced bank verification system to instantly check your bank’s information online. If you decide to upload documents from your account statements it will take a little longer.
For the Small Business Loan ($5K or more) we typically provide an answer within one hour, provided you make your application during standard business hours and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements, we are able to provide the decision within the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we might be able to provide you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Some deals have been approved in the space of 24 hours.
The fastest method is to ensure you apply during normal business hours. You can also allow us to use our modern bank verification link to instantly verify your bank account information online. If you send us the copies of bank accounts, it takes a bit longer.
We provide loans that range from $5,000 and $500,000. If you apply for a certain amount we take into consideration a range of elements that determine your well-being of the business and the level of repayments your company is able to afford. The amount you receive from your loan will depend on the specifics the business.
When you apply for a particular amount, we consider a variety of aspects to assess how much we can lend you such as well-being of your company and the level of repayments your business is able to afford. The amount you receive from your loan will depend on the particulars that are unique to your business.
If you decide to request the business loans, we will assess the risk profile for your company and provide you with a customised offer, including the amount of the loan, the duration and interest rates. The business loan is an upfront priced loan which means you know in advance the total amount payable including any charges or interest.
Business loan interest rates vary due to factors such as the amount that is that is borrowed, what business assets the money will be used for in addition to the industry that the business operates in, how long the company has been operating for, how long the company has sufficient cash flow to support the loan, and the general well-being or financial standing of the business.
There are no hidden fees with our company loans, and you’ll know exactly how much you’ll need to pay, and when, starting from the day you sign up. There’s no compounding and no extra fees (as long as you make your payments on time).
We don’t charge an Application Fee. You can make an application for loans with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You can repay the total amount of your loan in full at any time.
If you choose to take this route, please talk to one of our helpful company credit experts. The experts will offer you with repayment details and an early payout figure. This will be calculated as the sum of the remaining principal amount and any accrued interest at the time of early payout, plus 1.5 percent of the principal remaining as well as any outstanding fees.
To make sure you do not miss due dates and also to be in line with your cash flow routine, we offer repayments either weekly or daily. These are automatically deducted from your nominated company account.
Protecting your information, and being upfront about how we collect, use, exchange and safeguard your data, is vital and is a crucial part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We make use of an advanced bank verification system to instantly verify the bank account details online, allowing us to offer an immediate response.
Asset-based borrowing is when a company owner utilises an asset that they own to secure the funding. The asset can be either an asset belonging to the personal, like the family home or an business asset such as a truck or other piece of machinery.
The vast majority of the lenders even the big banks, tend to secure loans against 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 additional financing using the worth of the asset you already have.
For loans that exceed $150K, no asset security is required upfront to access the money, however we do need a personal guarantee. If you adhere to your loan obligations (as stated in your loan contract document) the security of assets will never be needed. For loans of over $150,000 generally, there is personal guarantee and security in the form a charge over assets.
