The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K business financing.
All that is needed to get started is your contact information (the name of your company, your name, email, phone) as well as the amount you’d like to borrow, and your monthly revenue.
During the process and before settlement we’ll need confirmation of your identity, but not for starting:
Once we’ve started, for loans of more than $150,000 you’ll need basic financial statements:
Let’s get started now.
Auckland unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply to get your Small Business Loan in under 10 minutes online or by phone. You will receive a same day response and have the funds available in just 24 hours. Traditional business loans reference an annual interest rate together with additional fees and charges. We offer a company loan is an upfront priced loan and you’ll be aware of the total amount to be paid, including the interest, fees and charges. Then, it is broken down into weekly or daily payment amount.
The Small Business Loan can be used for nearly any company use, including managing cash flows, business renovations, marketing to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. The repayments are made weekly or fortnightly depending on the flow of cash.
The Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a credit of this size, your company needs to have been operating for a minimum of 3 years and have an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Larger Business Loan is a great option for almost all business use, including business renovations, purchase of new equipment or inventory, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is required to obtain funding above $150,000. It’s in the form of a charge against assets and can include registration through the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature, rather than defining the security of a specific asset. The person who is signing the guarantee is personally liable in the event that 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 lists security interests that are that are registered for personal property (including goods or assets). The PPSR allows the priority of personal property granted according to the date the registration of a security interest.
The caveat can be described as a formal document that is filed to offer the public notice of a legal claim to a property.
If you’re applying for the Larger Business Loan of $250,000 or more, we may offer a preliminary pre-approval to help simplify the process. We could be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes the answer to a series of financial well-being checks. This is not an offer of credit or guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could have different terms.
You may apply for an business loan if you:
The application process is fast and easy. Complete the online form within a few minutes and a dedicated company loan specialist will call you to guide you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$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 of bank records, IRD statement and the last two years’ finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K or more) we usually provide an answer within an hour – as long as you make your application within quality business hours and permit us to utilise the bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statement, we’ll provide an answer in as little as 1 business day.
For the Larger Business Loan ($100K up to $500,000) we could be capable of provide you with pre-approval conditional to your application in about 6 hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within the space of 24 hours.
The most efficient method is to ensure you apply during standard company hours and let us use the advanced bank verification system to instantly check your bank’s information online. If you decide to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within an hour if you apply in standard business time and let us make use of the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll offer a decision within one business day.
If you are applying for Larger Business Loans ($100K and up) We may be capable of provide the conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this can be faster depending upon the circumstances for each application. Some transactions have received approval within the space of 24 hours.
The most efficient method can be make sure you apply during normal business hours. You can also allow us to use the modern bank verification link to check your bank’s information online. If you upload copies of your bank accounts, it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of factors to determine the health that is your company and the extent of repayments that your business is able to afford. The total amount of your loan will be contingent on the specific circumstances that are unique to your company.
If you apply for a set amount, we take into consideration a variety of aspects to determine the health that is your business and the amount of the repayments your business will be able to support. The total amount of your loan will be contingent on the specifics of your business.
When you make an application for one of our company loan, we’ll assess the risk assessment of your business and offer you with a customised proposal that includes the loan amount, the terms and interest rates. This business loan is a loan that is priced upfront and you’ll be aware of the total amount due, which includes any costs, fees, or interest rates.
Business loan interest rates differ based on various factors including the amount that is borrowed, what company assets the funds are used to purchase, the industry the business operates in, how long the business is in operation, how long the company has sufficient cash flow to cover the loan, and also the general well-being or financial standing of the business.
There are no hidden fees with our company loans, and you’ll be aware of the amount it is that you need to pay, and when, starting from day one. There’s no compounding interest and no extra fees (as as you make your payments punctually).
We don’t charge an Application Fee. You can request a credit loan with without any upfront costs or any obligation to sign up.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can choose to repay the entire amount of the loan in full at any time.
If you do decide to pursue this option, please contact our helpful company credit professionals. We will offer you with the details of your repayment as well as an early payout amount. This is calculated as the total of the principal remaining and accrued interest to the time of the early payout plus 1.5 percent of the principal balance plus any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow schedule, we provide repayments either weekly or daily. These are automatically withdrawn from your business account.
Making sure that your information is secure, and being clear about how we collect information, use it, and exchange it, as well as safeguard your data, is vital and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to security for our clients and security. We make use of an advanced banking verification system to immediately confirm your bank account information online, allowing us to offer an immediate response.
An asset-based loan is when an company owner borrows from an asset they own to get the funds for a loan. The asset can be an individual property, such as the family home, or a business property like a truck or piece or equipment.
The vast majority of lenders, even the big banks, tend to guarantee loans against an asset. If you have trouble paying back the loan then the asset might be sold by the lender. In essence it is the process of securing new financing by making use of the value of what you already own.
For loans up to $150K the requirement for asset security is not required before you are able to access the money however, we require a personal guarantee. require the personal guarantee. As long as you follow your loan commitments (as specified in the loan contract) the security of assets is not needed. For loans that exceed $150K, generally, you are able to get the option of a personal guarantee and security in the form an asset charge.
