The criteria for eligibility for an unsecured business loan in Lower Hutt of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K company loans.
All that’s needed to start is your contact details (company name, your name, email and phone), how much you’d like to borrow, as well as your monthly income.
While in the process and before settlement we will require confirmation of your identity, but not before we can begin:
Additionally after we get started, for loans over $150,000 you’ll also require basic financial statements:
Let’s get started.
Lower Hutt unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and the funds could be in your account within 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. Our business loan is a loan that is priced upfront and you’ll know in advance the total amount to be paid, including any fees, interest or charges. This is then broken down into weekly or daily payment amount.
It is a Small Business Loan can be used for virtually every business need, such as managing cash flows, business remodels and marketing to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To be eligible for a loan of this size the company needs to have been in operation for at least 3 years, and have an annual income of at least $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Business Loan of a larger size is a great option for almost every company reason, such as company renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It is usually in the form of a charge over assets, and could include registering this in the PPSR or making as a caveat.
A personal or director’s ensure is a guarantee to pay off a credit line that is generally in nature rather than defining security over a particular asset. The person signing the ensure is personally accountable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR allows the priority of personal property granted in accordance with the date on which a registration of a security interest.
An affidavit is an official document that is filed to offer the public notice of a legal claim to a property.
If you’re applying for a Larger Business Loan of more than $250K, we may offer an initial pre-approval in order to make the process. We may be able to apply for this without a credit check, and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being checks. It is not an offer or guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer that you receive could have different conditions.
You can apply for a business loan if you:
The application process is fast and simple. Complete the online form in few minutes and a dedicated business credit specialist will call you to help you.
For a loan of up to $100,000 you’ll need identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Application details including credit consent, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K up to $100,000) we typically offer an answer within an hour, provided you apply in quality company timings and let us make use of 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’ll be able to provide a decision in just the span of one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be able to offer you with conditional pre-approval within six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be quicker based on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours. You can also allow us to use our advanced bank verification system to instantly verify your bank information online. If you opt to upload duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer in just one hour – as long as you submit your request during standard business time and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can offer a decision in as little as the span of one business day.
For Larger Business Loans ($100K up to $500,000) we could be likely to offer you with conditional pre-approval within about six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain agreements have been approved in the space of 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours. You can also let us use the modern bank verification to verify your bank account information online. If you opt to upload the copies of bank accounts, it may take a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a specific amount we will consider a number of elements in order to assess your health of your company and the level of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your business.
When you make an application for a certain amount, we consider a variety of variables to assess the health that is your company and the extent of payments your company will be able to support. The total amount of your loan will be contingent on the specific circumstances that are unique to your business.
When you make an application for the business financing, we’ll assess the risk profile that you have for your company and provide you with a customised offer, including the amount of the loan, the duration and interest rates. A business loan is a loan that is priced upfront which means you be aware of the total amount due, which includes any interest rates, fees or charges.
The interest rates on business loans rates differ based on various factors like the amount of money that is borrowed, what company assets the funds are used to purchase as well as the field the business is in, how long the business is in operation and in the event that the company has enough cash flow to fund the loan, as well as the overall health as well as creditworthiness company.
There are no hidden fees with our business loans, and you’ll know precisely what you be required 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 on time).
We don’t charge an application fee. You can make an application for loans with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the total amount of your loan at any point in time.
If you are deciding to do this please speak to our friendly company loans professionals. They’ll provide you with details for repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and accrued interest to the date of early payout in addition to 1.5 percent of the principal balance as well as any outstanding fees.
To ensure that you don’t miss repayments and to fit in your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from the nominated company account.
Making sure that your information is secure, and knowing the ways we gather information, use it, and exchange it, as well as protect your information, is vital and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and security. We make use of an advanced bank verification system link to immediately verify your bank account details online so we can offer a fast response.
Asset-based borrowing occurs when an company owner uses an asset they own to obtain the loan. The asset may be an individual asset, such as the family home, or it could be a business asset like a truck or piece or equipment.
The vast majority of lenders, including the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan, the asset could be transferred to the lender. In essence, it’s an opportunity to secure new financing by using the value of what you already own.
For loans up to $150,000 the requirement for asset security is not required in advance to gain access to the funds however, we require a personal guarantee. require an individual guarantee. As long as you follow the loan terms (as stated in your loan contract document), asset security is not needed. For loans over $150,000 typically, you will need personal ensure and security in the form of the charge of assets.
