The requirements for obtaining an unsecured business loan in Lower Hutt of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Take a look at the conditions of eligibility for our $100K to $500K company loan.
All that’s required for starting is your contact information (company name and your name, as well as email and telephone) as well as the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we will need confirmation of your identity but not before we can begin:
Once we’ve started with loans over $150,000 you’ll also need basic financial statements:
Let’s get started now.
Lower Hutt unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and have the funds available in just 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. Our business loan is a pre-paid loan which means you know ahead of time the amount you will have to pay, including any interest, fees or charges. Then, it is divided into a daily or weekly amount to be paid back.
A Small Business Loan can be used for virtually every business need, such as control of cash flow business remodels and marketing to purchase inventory or new equipment, or as 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 company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are either weekly or fortnightly depending on your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount the company needs to have been trading for at least 3 years and have an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used to fund almost all business use, including company renovations, purchase of new equipment or inventory or as general working capital and much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. This can be done by way of charge against assets, which could also include registration through the PPSR or the registration of as a caveat.
A director’s or personal ensure is a commitment to pay off a credit line that is general in nature, rather than specifying security over an asset. The person who is signing the guarantee is personally liable if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR permits priority over personal property to be assigned according to the date the security interest has been registered.
An affidavit is an official document that is filed to offer an official notice of a claim on a property.
If you’re requesting the Larger Business Loan of more than $250K it’s possible to offer an initial pre-approval that will help make the process. We could be able to make this decision without a credit check, and within six hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial health checks. It’s neither an offer nor a guarantee of finance. A conditional approval is subject a full credit assessment and any offer you are offered could be subject to different terms.
You can apply for an business loan if you
The application process is quick and easy. Just complete the online application in just a few minutes, and an experienced business credit specialist will call you to help you.
To be eligible for up to $100,000, you’ll require identification details (valid Driver’s License), an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent and 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K up to $100,000) We can usually offer a response in one hour – as long as you submit your request within standard company times and permit us to use the advanced bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements , we will be able to offer a decision in as little as one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be capable of provide you with conditional pre-approval in around six hours. Once you have signed the pre-approval document, you will require to wait about 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The fastest way for you to apply is ensure you apply during normal company hours. You can also allow us to use our advance bank verification to instantly verify your bank information online. If you send us documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within one hour – as long as you submit your request in normal business times and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statements, we will be able to provide an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we could be in a position to provide you with a conditional pre-approval within six hours. Once you’ve signed your pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this can be faster depending on the circumstances of each application. Certain offers have been approved within the space of 24 hours.
The quickest method can be ensure you apply during standard business hours and let us use the advanced bank verification system to confirm your bank details online. If you choose to upload the copies of bank statements, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a particular amount, we consider a variety of variables in order to assess how much we can lend you well-being for your business and the amount of the repayments your company can afford. The total amount of your loan will depend on the particular circumstances that are unique to your company.
When you submit an application for a particular amount, we will consider a number of aspects to assess how much we can lend you such as well-being for your company as well as the amount of the repayments your company can afford. The amount you receive from your loan will be contingent on the specifics the business.
If you decide to apply for the business loan, we will assess the risk assessment that you have for your business and provide an individualised offer, including loan amount, term and interest rates. It is a company loan is an upfront-priced loan which means you be aware of the total amount due, which includes any costs, fees, or interest rates.
The interest rates on business loans rates depend on several factors such as the amount that is that is borrowed, what company assets the money are used to purchase in addition to the industry that the company is in, how long the company has been in operation as well as what percentage of the business has enough cash flow to fund the loan, as well as the overall health and creditworthiness of the business.
There are no hidden costs with our company loans. You’ll be aware of the amount you be required to pay and when, from the first day. There’s no compounding interest, and there are no additional charges (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to request a credit loan absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay all of your loan in full at any time.
If you do decide to do this please contact our helpful business credit specialists. We will provide you with details for repayment and an early payment figure. The figure will be calculated as the sum of the principal amount remaining and accrued interest to the date of early payout and 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow cycle we provide repayments either weekly or daily. These are automatically withdrawn from your company account.
The security of your personal information, as well as being upfront about the ways we gather, use, exchange and protect your information, is of paramount importance and is a crucial element of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to security for our clients and privacy. We make use of an advanced bank verification system that allows you to immediately verify your bank account information online, allowing us to offer rapid response.
An asset-based loan is when a company owner uses the assets they have to get a loan. The asset may be an individual property, such as the family home or it could be a company property like a truck or other piece of machinery.
The vast majority of the lenders including the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be sold by the lender. In essence it is an opportunity to secure new funding making use of the value of what you already have.
For loans that exceed $150,000, it is not necessary to secure assets in advance to gain access to the funds However, we do require the personal guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract), asset security is not needed. If you take out loans in excess of $150,000 typically, you will need an individual ensure and security in the form of the charge of assets.
