The requirements for obtaining an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you need more money? Check out the eligibility requirements for our $100K to $500K business loans.
All you need to start is your contact details (the name of your company, your name, email or phone number) as well as the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
Once we’ve started in the process, for loans greater than $150,000 you’ll need the following financial statements:
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and the money could be in your account in 24 hours. Traditional business loans have an interest rate per annum together with additional fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into weekly or daily payment amount.
It is a Small Business Loan can be used for virtually any company purpose including the management of cash flow, company improvements, advertising for purchasing inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To be eligible for a credit that is this large, your company 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 prove at minimum 12 months of continuous trading.
A large business loan is a great option for almost any company purpose including business renovations, to purchase equipment or inventory, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. This is by taking a charge on assets, and could be registered through the PPSR or making a caveat.
A personal or director’s ensure is a commitment to repay credit that is general in nature rather than stipulating security over a particular asset. The person who is signing the ensure is personally liable in the event that the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR permits priority over personal property to be granted according to the date a security interest that is registered.
Caveats are legal document that is filed to provide the legal claim to property.
When you’re applying for larger business loans of $250K or more, we may offer an initial pre-approval that will help ease the process. We may be able to do this without a credit check, and within six hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial health checks. This is not an offer or guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer that you receive could be subject to different terms.
You may be eligible for a company loan if you;
The application process is quick and simple. Just fill out the online application within a few minutes and an experienced business credit specialist will contact you to help you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) and an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) We can usually provide an answer within one hour if you make your application at quality business timings and let us make use of the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements we can provide the decision in just one business day.
For the Larger Business Loan ($100K and up) we could be capable of provide you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved within the space of 24 hours.
The quickest method is to ensure you apply during normal company hours, and allow us to use our modern bank verification to verify your bank account information online. If you choose to send us documents from your account statements it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide a response in one hour if you make your application in normal business hours and allow us to use the bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements, we are able to provide the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K or more) we might be capable of offer you with pre-approval conditional to your application within about 6 hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some transactions have received approval within just 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and allow us to use the modern bank verification to verify your bank account information online. If you choose to upload the copies of bank statements, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a particular amount, we take into consideration a range of variables in order to assess how much we can lend you well-being of your business and the level of the repayments your business can afford. The amount you receive from your loan will be contingent on the specific circumstances the business.
When you make an application for a particular amount, we look at a range of variables to determine your health that is your business and the extent of repayments your business is able to afford. The total amount of the loan will be determined by the particulars that are unique to your company.
If you decide to request the business loan, we will assess the risk assessment for your business and provide an individualised offer that includes the amount of the loan, the duration and interest rates. It is a company loan is an upfront priced loan and you’ll know the exact amount payable including any charges, interest rates or fees.
Business loan interest rates depend on several factors such as the amount that is of money borrowed, the business assets the money will be used for and the sector the company is in, how long the business is in operation, what percentage of the company has sufficient cash flow to support the loan, and the overall health or financial standing of the company.
There are no hidden fees with our company loans, and you’ll know exactly how much you need to pay and when, starting from the very first day. There’s no compounding interest, and no additional fees (as as long as you pay your payments in time).
We don’t charge an application fee. You can apply for a loan with no upfront cost or commitment to apply.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You may choose to pay back the entire amount of your advance loan at any time.
If you decide to take this route, please contact our helpful business credit experts. They’ll provide you with details on repayment along with an early payout estimate. It will be calculated using the sum of the principal balance and accrued interest to the time of early payout and 1.5 percent of the principal balance and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align your cash flow schedule, we provide repayments either daily or weekly. These are automatically deducted from the nominated company account.
The security of your personal information, as well as making it clear the ways we gather, use, exchange and secure your information, is crucial and is an essential element of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We utilise a sophisticated banking verification system to instantly confirm your bank account information online, allowing us to offer rapid response.
The term "asset-based" refers to borrowing where an company owner borrows from an asset they own to get a loan. The asset could be a personal asset like the family home or it could be a business asset such as a truck or piece of equipment.
The majority of lenders, even the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan, your assets could be taken over by the lender. In essence it’s a way of securing new funding using the worth of the asset you already own.
Up to $150K in loans no asset security is required in advance to gain access to the funds, however we require a personal guarantee. require the personal guarantee. If you adhere to your loan obligations (as stated in the loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150,000 generally, you are able to get an individual guarantee and security is provided in the form of a charge over assets.
