The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the eligibility requirements for our $100K to $500K business loans.
All that’s needed to begin is your contact information (the name of your company, your name, email and phone), how much you want to borrow, and your monthly income.
During the process and before settlement we will require confirmation of your identity however, not in order to begin:
Additionally after we get started with loans over $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Auckland unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
Apply for the Small Business Loan in under 10 minutes by phone. You will receive an instant response and the funds could be available in just 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. This business loan is a cash-based loan so you will be aware of the total amount payable including any interest, fees or charges. This is then divided into a daily or weekly payment amount.
A Small Business Loan can be used for nearly any business use, including control of cash flow business renovations, marketing, to purchase 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 business expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
This Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To be eligible for a credit of this size, your company needs to be operating for a minimum of 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Business Loan of a larger size can be used for almost every company purpose including company improvements, purchasing equipment or inventory for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary to access funding over $150,000. It’s as a result of an charge on assets and can include the registration of this on the PPSR or filing a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is generally in nature rather than defining security over an asset. The person who is signing the guarantee is personally responsible if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be granted in accordance with the date on which a security interest has been registered.
Caveats are legal form of document to provide notice of a legal claim against a property.
If you’re applying for a Larger Business Loan of more than $250,000, we may offer an initial pre-approval to make the process. We might be able to get this done without a credit check and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial health checks. It’s in no way an offer, nor is it a guarantee of finance. A conditional approval is subject an exhaustive credit evaluation, and any offer that you may receive may have different conditions.
You can apply for a company loan if you
The application process is fast and easy. Simply complete the online form in few minutes and a dedicated company lending specialist will be in touch to help you.
To apply for up to $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.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent twelve months bank statement, an IRD statement and the last two years’ finalised financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) we can often offer an answer in just one hour – as long as you apply at quality business hours and allow us to utilise the bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statements we can provide the decision within just 1 company day.
For the Larger Business Loan ($100K or more) we could be capable of offer you with pre-approval conditional to your application in about 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain offers have been approved in less than 24 hours.
The most efficient method would be to make sure you apply during normal business hours, and permit us to use the modern bank verification to verify your bank account information online. If you decide to upload documents from your account accounts, it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within an hour – as long as you submit your request at standard business hours and let us use the bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements, we’ll be able to provide an answer in as little as one business day.
For Larger Business Loans ($100K up to $500,000) we could be able to offer you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved in less than 24 hours.
The most efficient method for you to apply is ensure you apply during normal business hours. Also, allow us to use the advance bank verification link to verify your bank account information online. If you decide to send us documents from your account accounts, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a specific amount we consider a variety of elements in order to assess your well-being of your business as well as the amount of repayments that your company can support. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
When you make an application for a certain amount, we take into consideration a variety of variables to assess your well-being that is your business and the level of repayments your company will be able to support. The total amount of your loan will be determined by the particulars of your business.
If you decide to request our company financing, we will assess the risk profile of your business and offer you with a customised offer that includes the amount of loan, the term and the interest rates. The business loan is a loan that is priced upfront so you will know the exact amount to be paid, including any charges or interest.
Business loan interest rates depend on a variety of factors such as the amount that is borrowed, what business assets the funds are used to purchase in addition to the industry that the company operates in, the long the company has been running, how long the business has sufficient cash flow to pay for the loan, as well as the overall well-being or creditworthiness of the business.
There are no hidden fees with our company loans, and you’ll know precisely how much you’ll be required to pay and when, from the first day. There’s no compounding interest and no additional fees (as long as you make your payments in time).
We don’t charge an Application Fee. You can apply for a loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of the loan in full at any time.
If you do decide to do this please call our helpful business loans professionals. They’ll offer you with details on repayment as well as an early payout amount. This will be calculated as the sum of the principal amount remaining and accrued interest to the date of early payout, plus 1.5% of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow routine, we provide payments that are either daily or weekly. They will be automatically deducted from your business account.
Protecting your information, and knowing how we collect data, process, exchange and secure your information, is crucial and an integral part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We use an advanced bank verification system link to instantly verify the bank account details online, allowing us to provide rapid response.
An asset-based loan is when the business owner uses assets they own to obtain the loan. The asset may be an individual asset, such as the family home or a company property like a truck as well as a piece of machine.
The vast majority of banks, not just the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan, the asset could be taken over by the lender. In essence, it is the process of securing new funding making use of the value of what you already own.
For loans of up to $150K, no asset security is required upfront to access the money, however we do need the personal guarantee. As long as you follow your loan commitments (as detailed in your loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150K typically, you will need a personal guarantee and security in the form of charges on assets.
