The criteria for eligibility for an unsecured business loan in Wellington of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K to $500K company financing.
All you need for starting is your contact details (the name of your company, your name, email address and telephone) along with the amount you’d like to borrow, as well as your monthly income.
Through the process and before settlement we will require confirmation of who you are, but not before we can begin:
Once we’ve started with loans over $150,000 you will also require fundamental financial statements:
Let’s get started now.
Wellington unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
The application to the Small Business Loan in under 10 minutes over the phone, receive an immediate response, and the funds could be on your account within 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. This business loan is an upfront priced loan so you will be aware of the total amount to be paid, including any fees, charges or charges. Then, it is broken down into either a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually any company purpose including the management of cash flow, business remodeling, marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
To be eligible for a loan of this size the company needs to be trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger business loan is a great option for almost all business reason, such as company renovations, to purchase inventory or new equipment or as general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary to obtain funding above $150,000. This is as a result of an charge against assets, and may include registration in the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature rather than stipulating security over an asset. The person signing the guarantee is personally liable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR permits prioritisation over property that is personal to be granted according to the date a security interest that is registered.
An affidavit is an official document lodged to offer notice of a legal claim to a property.
If you’re requesting the Larger Business Loan that exceeds $250K we may be able to provide an initial pre-approval in order to smooth out the process. We may be able to make this decision without a credit verification and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial health questions. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you may receive may be based on different conditions.
You may apply for a company loan if you;
The application process is fast and easy. Complete the online form in few minutes and a dedicated company credit specialist will be in touch to assist you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent and 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) we usually offer an answer in just one hour if you make your application at standard company timings and permit us to use the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements , we’ll be able to provide a decision in as little as one company day.
For Larger Business Loans ($100K to $500K) we could be likely to provide the conditional pre-approval in about 6 hours. Once 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 particular circumstances of each application. Some transactions have received approval in less than 24 hours.
The quickest way to apply can be make sure you apply during normal business hours. You can also allow us to use the modern bank verification to instantly check your bank’s information online. If you upload the copies of bank statement, it will take a little longer.
For the Small Business Loan ($5K and up) we typically offer an answer within one hour if you make your application during standard business timings and let us use the bank verification system link to instantly verify your bank details online. If you choose to send us copies of your bank statements, we are able to offer the decision in as little as an business day.
For Larger Business Loans ($100K or more) We may be able to provide you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain offers have been approved within less than 24 hours.
The fastest method can be make sure you apply during standard business hours. You can also allow us to use the sophisticated bank verification link to instantly verify your bank information online. If you decide 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 make an application for a certain amount we take into consideration a range of aspects to determine what is the well-being for your business and the level of repayments that your company is able to afford. The total amount of your loan will depend on the specifics of your company.
If you apply for a set amount, we consider a variety of factors to determine how much we can lend you such as well-being for your business and the amount of the repayments your company can support. The total amount of your loan will be determined by the particulars for your company.
When you request the company credit, we will assess the risk profile that you have for your business and provide you with a tailored offer that includes the loan amount, the terms and the interest rates. This business loan is an upfront priced loan therefore you will know the exact amount due, which includes any interest rates, fees or charges.
Business loan interest rates vary due to factors including the amount borrowed, the company assets the funds will be used for in addition to the industry that the business operates in, how long the company has been operating, in the event that the business has sufficient cash flow to fund the loan, as well as the general well-being as well as creditworthiness business.
There are no hidden fees for our business loans. You’ll know precisely what you’ll be required to pay, and when, from the first day. There’s no compounding and no extra fees (as long as you are able to make your payments on time).
We don’t charge an Application Fee. You are able to get a cash loan with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated with setting up and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back the entire amount of the loan in full at any time.
If you decide to take this route, please talk to one of our helpful business credit experts. We will provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal amount remaining and any accrued interest at the date of early payout in addition to 1.5% of the remaining principal as well as any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow schedule, we offer repayments either weekly or daily. They are automatically deducted from your business account.
Security of your data, and knowing the ways we gather data, process, exchange and protect your information, is of paramount importance and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We use an advanced bank verification system to instantly verify your bank account information online so we can offer a fast response.
Asset-based borrowing is when the business owner uses assets they own to get a loan. The asset could be an asset belonging to the personal, like the family home, or an business asset like a truck or piece of equipment.
The majority of banks, even the largest banks, are inclined to guarantee loans against an asset. If you’re struggling to pay back the loan, then the asset could be taken over by the lender. In essence it is the process of securing new financing by making use of the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required in advance to gain access to the funds, however we require a personal guarantee. require the personal guarantee. As long as you follow the loan terms (as stated in your loan contract) Asset security is not needed. For loans that exceed $150K, generally there is a personal ensure and security in the form of an asset charge.
