The criteria for eligibility for an unsecured business loan in Lower Hutt of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K-$500K business loan.
All that’s needed for starting is your contact details (the name of your company and your name, as well as email and telephone), how much you’d like to borrow and your monthly income.
During the process and before settlement we will need confirmation of your identity, however, not in order to begin:
Once we’ve started in the process, for loans that exceed $150,000, you will also require fundamental financial statements:
Let’s get started.
Lower Hutt unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and the funds could be on your account within 24 hours. Traditional business loans refer to an annual rate of interest as well as other fees and charges. This company loan is a pre-paid loan so you will be aware in advance of the total amount due, which includes any fees, interest or charges. Then, it is broken down into a daily or weekly payment amount.
It is a Small Business Loan can be used for almost any business need, such as managing cash flows, company remodels and marketing, to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
To qualify for a loan in this amount the business needs to have been trading for at least 3 years and have an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used to fund almost any company use, including business improvements, purchasing inventory or new equipment as well as for general working capital and much more. The loan is not available for personal purposes.
Asset security is needed to access funding over $150,000. It’s by taking a charge on assets, and could be registered on the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature, rather than defining the security of a specific asset. The person who is signing the guarantee is personally liable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR grants preference over private property granted according to the date the security interest that is registered.
Caveats are legal document filed to provide the public notice of a legal claim to property.
If you’re requesting larger company loans that exceeds $250,000 we can offer an initial pre-approval to simplify the process. We might be able to get this done without a credit verification and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes the answer to a series of financial health questions. It is not an offer or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you may receive may be subject to different terms.
You are eligible to apply for an company loan if you
The process for applying is fast and simple. Just fill out the online application in few minutes and a dedicated business lending specialist will contact you to guide you.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Application details including credit consent, 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, and interim current financial year financials including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) we usually provide an answer within one hour – as long as you apply at quality business timings and permit us to use the advanced bank verification system to instantly verify your bank information online. If you decide to send us copies of your bank statements we can offer a decision within just an business day.
For Larger Business Loans ($100K and up) we might be in a position to offer you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, it could be faster based on the circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The fastest way is to ensure you apply during normal business hours and allow us to use the modern bank verification to verify your bank account information online. If you send us documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K or more) we usually offer a response in one hour if you apply within standard business timings and let us utilise the advanced bank verification system to instantly verify your bank information online. If you decide to send us copies of your bank statements, we will be able to offer the decision in as little as the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we may be likely to offer you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved within 24 hours.
The quickest method would be to make sure you apply during standard business hours. Also, allow us to use the modern bank verification link to instantly check your bank’s information online. If you opt to upload duplicates of your banking statements it will take a little longer.
We offer loans that range from $5,000 and $500,000. If you apply for a certain amount, we consider a variety of aspects to determine your well-being of your company and the level of the repayments your business can afford. The total amount of the loan will be determined by the specific circumstances for your business.
When you submit an application for a particular amount, we look at a range of variables to determine the well-being that is your company and the amount of repayments that your company will be able to support. The total amount of your loan will depend on the particular circumstances for your company.
When you request our business loan, we will assess the risk assessment that you have for your business and offer an individualised offer that includes the amount of loan, the term and the interest rates. It is a company loan is an upfront-priced loan which means you be aware of the total amount to be paid, including any charges, interest rates or fees.
Business loan interest rates depend on several factors such as the amount that is borrowed, the business assets the funds will be used for, the industry the company operates in, how long the business has been in operation and in the event that the business has sufficient cash flow to support the loan, and the overall well-being and creditworthiness of the business.
There aren’t any hidden costs for our company loans, and you’ll know exactly how much you need to pay, and at what time, from day one. There’s no compounding interest, and no extra fees (as long as you are able to make your payments punctually).
We do not charge an application fee. You can request a credit loan with with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay the total amount of your advance loan at any time.
If you do decide to take this route, please talk to one of our helpful company credit professionals. They’ll offer you with the details of your repayment along with an early payout estimate. It will be calculated using the sum of the remaining principal amount and the accrued interest up to the time of early payment plus 1.5 percent of the principal amount remaining and any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically deducted from the nominated business account.
The security of your personal information, as well as being clear about the ways we gather, use, exchange and protect your information, is of huge importance and is a crucial part of our relationship you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We employ a highly sophisticated bank verification system to instantly verify your bank account details online to offer a fast response.
The term "asset-based" refers to borrowing where an business owner uses an asset that they own to get a loan. The asset could be a personal asset like the family home or it could be a company property like a truck or piece or equipment.
The vast majority of banks, even the major banks, prefer to secure loans against assets. If you have trouble paying back the loan, then your assets could be offered for sale by the lender. In essence, it’s an opportunity to secure new financing by taking advantage of the value of what you already own.
For loans of up to $150,000, no asset security is required in advance to gain access to the funds however, we require a personal guarantee. require a personal guarantee. So long as you comply with your loan commitments (as detailed in your loan contract document) Asset security will never be needed. For loans of over $150,000 generally there is the option of a personal ensure and security is provided in the form of charges on assets.
