The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you require more money? Check out the eligibility requirements for our $100K to $500K company loan.
All that is needed to start is your contact information (the name of your company, your name, email address and phone) and the amount you’d like to borrow, and your monthly earnings.
In the course of the process and before settlement we’ll require confirmation of your identity however, not in order to begin:
After we start, for loans of more than $150,000 you will also require the following financial statements:
Let’s get started now.
Auckland unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and the money could be in your account within 24 hours. Traditional company loans refer to an interest rate per annum plus other fees and charges. Our company loan is a cash-based loan and you’ll be aware in advance of the total amount payable including any interest, fees or charges. This is then broken down into weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost any business purpose including cash flow management, company improvements, advertising to purchase inventory, new equipment, for general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount, your company needs to be operating for a minimum of 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger company loan is a great option for almost all 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 use.
Asset security is needed to access funding over $150,000. This can be done in the form of a charge over assets, and may be registered through the PPSR or making a caveat.
A personal or director’s ensure is a promise to pay back a loan that is general in nature, rather than stipulating security over a particular asset. The person who is signing the ensure is personally accountable if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including the assets or goods). The PPSR gives priority over personal property to be assigned depending on the date that a security interest has been registered.
A caveat is a legal document filed to provide an official notice of a claim to property.
When you’re applying for the Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval that will help make the process. It is possible to apply for this without a credit verification and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial well-being questions. It is not an offer of credit or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer you receive could be subject to different conditions.
You are eligible to apply for a business loan if you;
The application process is simple and simple. Just fill out the online application within a few minutes and a dedicated business lending specialist will be in touch to guide you.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, and interim financials from the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we typically provide an answer within one hour – as long as you submit your request within quality company timings and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can provide a decision in just an business day.
For the Larger Business Loan ($100K and up) we could be likely to provide you with conditional pre-approval within about six hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be quicker based on the particular circumstances of each application. Some offers have been approved within less than 24 hours.
The fastest way can be ensure you apply during standard company hours, and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to send us the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer within an hour, provided you make your application during standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to submit copies of your bank statement, we’ll offer an answer within an business day.
For the Larger Business Loans ($100K or more) we could be likely to provide the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some transactions have received approval in less than 24 hours.
The most efficient method would be to ensure you apply during standard business hours, and permit us to use the advanced bank verification system to check your bank’s information online. If you send us copies of your bank statements it may take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a specific amount we will consider a number of variables that determine what is the health of the business as well as the amount of payments your business can support. The amount you receive from the loan will be determined by the specific circumstances of your company.
When you submit an application for a set amount, we take into consideration a variety of elements to determine your health for your company and the level of repayments that your business can afford. The total amount of your loan will be contingent on the particular circumstances of your business.
When you make an application for business loans with us company financing, we’ll assess the risk profile the company and offer an individualised offer, including the loan amount, the terms and interest rates. The business loan is an upfront cost loan which means you know in advance the total amount due, which includes any charges or interest.
Business loan interest rates depend on a variety of factors including the amount that is borrowed, what business assets the money are used to purchase in addition to the industry that the company is operating in, how long the company has been operating, in the event that the business has enough cash flow to cover the loan, as well as the general health or creditworthiness of the business.
There are no hidden costs for our company loans, and you’ll know precisely how much it is that you be required to pay, and when, right from day one. There’s not any compounding interest and the loan comes with no additional 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 costs associated with setting up and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You may choose to pay back the total amount of your loan early at any time.
If you decide to pursue this option, please contact our helpful company loan experts. The professionals will provide you with repayment details and an early payment figure. This will be calculated as the total of the principal balance and any accrued interest at the time of early payment plus 1.5 percent of the principal remaining as well as any outstanding fees.
To ensure you do not miss payments and to work with your cash flow routine, we offer repayments that are either weekly or daily. These are automatically deducted from your nominated company account.
Security of your data, and being transparent about the ways we gather, use, exchange and protect your information, is vital and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to security for our clients and security. We utilise a sophisticated bank verification system link to immediately confirm your bank account information online so we can offer quick responses.
The term "asset-based" refers to borrowing where an business owner makes use of an asset they own to make the funds for a loan. The asset could be a personal asset like the family home or it could be a business asset like a truck or piece or equipment.
The vast majority of banks, even the largest banks, are inclined to make loans secured by assets. If you are having difficulty paying back the loan, then the asset could be offered for sale by the lender. In essence it’s means of securing new financing making use of the value of what you already have.
For loans that exceed $150K, the requirement for asset security is not required prior to the loan’s access, however we do require the personal guarantee. As long as you follow the terms of your loan (as specified in your loan contract), asset security is not required. For loans over $150K generally, you can get an individual ensure and security that is in the form an asset charge.
