The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Looking for more funding? Review the eligibility requirements for our $100K-$500K business loan.
All that’s needed to begin is your contact information (the name of your company and your name, as well as email and telephone) as well as the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will need confirmation of your identity but not for starting:
Once we’ve started, for loans greater than $150,000 you’ll also require the following financial statements:
Let’s get started now.
Auckland unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
The application to get the Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and funds may be on your account within 24 hours. Traditional company loans reference an annual interest rate along with other charges and fees. Our business loan is a cash-based loan so you will know ahead of time the total amount payable including the interest, fees and charges. This is then broken down into weekly or daily payment amount.
It is a Small Business Loan can be used for almost every company purpose including the management of cash flow, business renovations, marketing to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
To qualify for a loan of this size the business needs to have been trading for at least 3 years with an annual turnover of $700,000. The applicant must also be 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 to demonstrate at the least 12 months of operating.
A larger business loan can be used for nearly all company reason, such as company renovations, purchase of new equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. It’s by taking a charge against assets, which could also be registered with the PPSR or registering a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is general in nature, rather than specifying security over an asset. The person signing the ensure is personally liable in the event that the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including the assets or goods). The PPSR permits prioritisation over property that is personal to be granted according to the date the security interest has been registered.
The caveat can be described as a formal document lodged to provide the public notice of a legal claim to a property.
If you’re seeking a Larger Business Loan of $250,000 or more we can offer an initial pre-approval in order to smooth out the process. We could be able to make this decision without credit checks and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial health checks. It is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you may receive may have different conditions.
You are eligible to apply for an business loan if you:
The process for applying is fast and simple. Just complete the online application within a couple minutes, and a dedicated business expert in lending will contact you 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) and a valid NZBN/IRD and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, in addition to interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually provide an answer within an hour, provided you apply at standard company timings and allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your bank statements , we are able to provide an answer within an business day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be quicker based on the specifics of each application. Some offers have been approved within the space of 24 hours.
The fastest way can be make sure you apply during normal business hours. You can also permit us to use the advanced bank verification system to instantly verify your bank information online. If you upload duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) We can usually provide a response in one hour, provided you submit your request within standard business timings and allow us to use 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 just an business day.
If you are applying for Larger Business Loans ($100K and up) We may be capable of provide you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however it could be faster based on the circumstances of each application. Certain offers have been approved in 24 hours.
The fastest method for you to apply is make sure you apply during normal business hours. Also, let us use the modern bank verification to instantly check your bank’s information online. If you choose to upload duplicates of your banking statements it will take a little longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a certain amount we consider a variety of aspects to determine your well-being for your business and the level of repayments that your business can support. The total amount of the loan will be determined by the specific circumstances of your business.
When you apply for a specific amount we consider a variety of aspects to assess how much we can lend you such as well-being that is your business as well as the amount of the repayments your company can afford. The amount you receive from your loan will depend on the specific circumstances for your business.
When you request our company credit, we’ll assess the risk profile that you have for your company and offer you with a tailored offer, including the loan amount, the terms and the interest rates. The business loan is an upfront cost loan and you’ll know the exact amount due, which includes any charges or interest.
The interest rates on company loans rates depend on several factors such as the amount that is borrowed, what business assets the money will be used for and the sector the business is operating in, how long the business has been in operation for, what percentage of the company has enough cash flow to fund the loan, and general well-being and creditworthiness of the company.
There are no hidden fees for our company loans, and you’ll know precisely what you need to pay, and at what time, from the very first day. There’s no compounding and no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You can apply for a loan absolutely no upfront cost and no commitment to apply.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay the entire amount of the loan in full at any time.
If you choose to do this please speak to our friendly business loan specialists. The specialists will provide you with details for repayment and an early payout figure. This will be calculated as the total of the remaining principal amount and the accrued interest up to the time of the early payout plus 1.5 percent of the principal balance and any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow cycle we offer repayments either daily or weekly. They are automatically deducted from your designated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and protect your information, is of paramount importance and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system link to instantly verify your bank account details online so we can provide a fast response.
The term "asset-based" refers to borrowing where a company owner borrows from assets they own to make the funds for a loan. The asset can be an individual property, such as the family home or a business asset such as a vehicle or piece or equipment.
The majority of the lenders including the big banks, tend to make loans secured by an asset. If you’re having 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 $150,000, there is no requirement for asset security before you are able to access the money but we do require a personal guarantee. As long as you follow the terms of your loan (as stipulated in the loan contract) Asset security will never be required. If you take out loans in excess of $150,000 generally there is an individual ensure and security in the form an asset charge.
