The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you need more money? Take a look at the conditions of eligibility for our $100K-$500K business loan.
All that’s required for starting is your contact details (the name of your company, your name, email address and telephone), how much you’d like to borrow as well as your monthly income.
While in the process and before settlement we’ll need confirmation of who you are, but not to get started:
Once we’ve started with loans that exceed $150,000, you will also need fundamental financial statements:
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
Apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and have the funds on your account within 24 hours. Traditional company loans are based on an annual interest rate along with other charges and fees. Our company loan is a cash-based loan therefore you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is broken down into a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost any business purpose including the management 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 size loan to aid in company growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly in order to accommodate the flow of cash.
A Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount, your business needs to be in operation 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, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A large company loan can be used for almost every business use, including company renovations, purchase of new equipment or inventory, as general working capital and much more. The loan is not available to fund personal expenses.
Asset security is required for accessing funds over $150,000. This is as a result of an charge against assets, which could also include registration through the PPSR or filing a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is generally in nature rather than stipulating security over an asset. The person who signs the guarantee is personally liable in the event that the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR grants prioritisation over property that is personal to be assigned depending on the date that a security interest has been registered.
Caveats are legal document lodged to offer an official notice of a claim against a property.
If you’re requesting larger business loans of $250K or more, we may offer a preliminary pre-approval to help ease the process. We could be able to make this decision without a credit check and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being questions. This is not an offer of credit or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be based on different conditions.
You can apply for an business loan if you;
The application process is quick and easy. Complete the online form within a few minutes and an experienced company lending specialist will call you to assist you.
To be eligible for up to $100,000, you’ll require the right identification documents (valid Driver’s License), a valid NZBN/IRD and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent and 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, as well as interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K or more) We can usually offer a response in one hour – as long as you make your application at quality business hours and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements , we are able to offer an answer in just 1 business day.
For the Larger Business Loan ($100K or more) we may be likely to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Some deals have been approved within less than 24 hours.
The fastest way would be to make sure you apply during standard business hours. Also, permit us to use the advance bank verification link to verify your bank information online. If you opt to upload documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K and up) we usually provide an answer within an hour if you make your application during standard business hours and permit us to make use of the advanced bank verification system to immediately verify your bank account 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 one business day.
For Larger Business Loans ($100K and up) We may be likely to provide you with a conditional pre-approval within six hours. Once you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval, however this can be faster depending on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The fastest way would be to ensure you apply during standard business hours and let us use the advance bank verification link to check your bank’s information online. If you opt to upload copies of your bank statement, it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a specific amount we look at a variety of variables to determine what is the health of your company as well as the amount of repayments that your business is able to afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your company.
When you make an application for a set amount, we will consider a number of aspects to determine the health for your company as well as the amount of payments your company is able to afford. The total amount of the loan will be determined by the specific circumstances of your business.
When you request business loans with us business loans, we will assess the risk profile that you have for your company and provide you with a customised offer that includes loan amount, term and interest rates. A company loan is an upfront priced loan and you’ll be aware of the total amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates vary due to factors like the amount of money that is borrowed, what business assets the money will be used for, the industry the company operates in, the long the company has been in operation, what percentage of the business has sufficient cash flow to cover the loan, and also the general health or financial standing of the business.
There are no hidden costs for our business loans, and you’ll know precisely what it is that you need to pay and at what time, from the very first day. There’s no compounding interest, and no additional fees (as long as you make your payments on time).
We don’t charge an application fee. You can request a credit loan with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of the loan at any point in time.
If you choose to pursue this option, please talk to one of our helpful company credit professionals. They’ll provide you with details on repayment along with an early payout estimate. The figure will be calculated as the total of the principal amount remaining and the accrued interest up to the time of early payout plus 1.5% of the remaining principal as well as any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow standard, we offer repayments either daily or weekly. They are automatically deducted from the nominated business account.
Making sure that your information is secure, and being transparent about how we collect, use, exchange and safeguard your data, is of paramount importance and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system link to instantly verify the bank account details online to offer quick responses.
Asset-based borrowing occurs when the business owner borrows from the assets they have to get the funding. The asset could be an asset belonging to the personal, like the family home or it could be a company asset like a truck or piece of equipment.
The majority of lenders, even the largest banks, are inclined to secure loans against an asset. If you’re struggling to pay back the loan, the asset could be transferred to the lender. In essence it is the process of securing new financing by making use of the value of what you already own.
Up to $150K in loans 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 your loan obligations (as stated in your loan contract) the security of assets will never be required. For loans over $150,000 generally, there is a personal ensure and security is provided in the form of a charge over assets.
