The requirements for obtaining an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Do you require more money? Check out the conditions of eligibility for our $100K-$500K business financing.
All you need to begin is your contact information (company name, your name, email and phone) and the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will need confirmation of your identity, but not to get started:
Once we’ve started in the process, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
Auckland unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply for this Small Business Loan in under 10 minutes online or on the phone. You’ll receive a same day response and the funds could be in your account in 24 hours. Traditional business loans refer to an annual rate of interest together with additional fees and charges. We offer a business loan is a pre-paid loan which means you know in advance the amount you will have to pay, including any interest, fees or charges. This is then divided into a daily or weekly repayment figure.
A Small Business Loan can be used to fulfill almost every company use, including cash flow management, company renovations, marketing for purchasing inventory or new equipment, to fund 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. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
To be eligible for a loan in this amount the company needs to be trading for at least 3 years and have an annual turnover of $700,000. Your business must belong to 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 to demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used for nearly any company use, including company improvements, purchasing new equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It is usually as a result of an charge on assets, which could also include the registration of this with the PPSR or filing as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally based rather than stating security over an asset. The person signing the guarantee is personally liable in the event that the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR permits priority over personal property to be granted depending on the date that a security interest has been registered.
Caveats are legal document filed to offer an official notice of a claim on a property.
If you’re requesting an enterprise loan of more than $250K we can offer an initial pre-approval that will help simplify the process. We might be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial well-being questions. This is not an offer of credit or guarantee of finance. The approval of a conditional loan is subject to an extensive credit evaluation and any offer that you receive could be subject to different conditions.
You are eligible to apply for an business loan if you
The application process is fast and simple. Just fill out the online application within a couple minutes, and an experienced company credit specialist will contact you to guide you.
To apply for up $100,000, you’ll require the right identification documents (valid Driver’s License) along with a valid NZBN/IRD as well as at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K-$250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent, 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, as well as interim current financial year financials such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we usually offer an answer within one hour – as long as you submit your request within quality business hours and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements , we will be able to offer a decision in just the span of one business day.
For the Larger Business Loan ($100K to $500K) we might be likely to offer you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Some agreements have been approved within 24 hours.
The quickest method is to make sure you apply during standard company hours. You can also permit us to use the modern bank verification to instantly verify your bank information online. If you opt to send us duplicates of your banking statement, it takes a bit longer.
For the Small Business Loan ($5K and up) we typically provide a response in one hour – provided you submit your request during normal business time and let us utilise the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your banking statements we can offer the decision in as little as 1 business day.
For the Larger Business Loans ($100K or more) we might be capable of provide you with a conditional pre-approval within about six hours. Once you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be faster depending on the specifics of each application. Certain offers have been approved in the space of 24 hours.
The fastest method would be to make sure you apply during normal business hours. You can also allow us to use the modern bank verification link to confirm your bank details online. If you choose to send us the copies of bank statements it takes a bit longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of variables that determine what is the health that is your business and the level of the repayments your business is able to afford. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
When you submit an application for a set amount, we take into consideration a variety of aspects to assess the well-being of the business as well as the amount of payments your company will be able to support. The total amount of your loan will be contingent on the particulars of your business.
When you make an application for our business financing, we’ll assess the risk profile that you have for your company and provide you with a customised proposal that includes the amount of the loan, the duration and interest rates. This company loan is an upfront cost loan and you’ll be aware in advance of the total amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates depend on a variety of factors including the amount borrowed, the company assets the money are used to purchase and the sector the business is operating in, how long the company has been in operation and how long the company has enough cash flow to pay for the loan, and the general health as well as creditworthiness business.
There are no hidden costs with our business loans, and you’ll know exactly how much you’ll be required to pay and when, from the day you sign up. There’s no compounding and no extra fees (as long as you make your payments punctually).
We do not charge an Application Fee. You are able to request a credit loan with no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay all of your loan in full at any time.
If you choose to take this route, please talk to one of our helpful company loan professionals. The experts will offer you with details on repayment as well as an early payout amount. It will be calculated using the sum of the principal balance plus any accrued interest as of the time of early payment and 1.5% of the principal amount remaining as well as any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we provide repayments either daily or weekly. These are automatically deducted from your nominated company account.
Protecting your information, and being transparent about how we collect, use, exchange and ensure the security of your information is of huge importance and a vital part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We utilise a sophisticated banking verification system to instantly verify your bank account details online, allowing us to offer rapid response.
An asset-based loan is when the business owner utilises the assets they have to get a loan. The asset can be a personal asset like the family home, or a business asset such as a truck or piece of equipment.
The vast majority of lending institutions, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be sold by the lender. In essence it’s means of securing new financing by using the worth of the asset you already own.
For loans up to $150,000 the requirement for asset security is not required before you can access the money, however we do need the personal guarantee. In the event that you fulfill the loan terms (as detailed in your loan contract document) the security of assets will never be required. If you take out loans in excess of $150,000 generally, there is the option of a personal guarantee and security in the form a charge over assets.
