The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Do you need more money? Take a look at the guidelines for eligibility for our $100K to $500K company financing.
All that’s needed to start is your contact information (company name and your name, as well as email and telephone) as well as the amount you’d like to borrow as well as your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not to get started:
Once we’ve started, for loans that exceed $150,000, you will also require the following financial statements:
Let’s get started.
Auckland unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply to the Small Business Loan in under 10 minutes online or on the phone. You’ll receive a same day response and funds may be in your account in 24 hours. Traditional company loans are based on an annual rate of interest along with other charges and fees. This company loan is a cash-based loan therefore you’ll be aware in advance of the total amount to be paid, including the interest, fees and charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for almost any business purpose including control of cash flow business improvements, advertising to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
A Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.
To be eligible for a credit in this amount the business needs to have been in operation for at least 3 years, and have an annual income of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan can be used to fund almost any business use, including business remodeling, buying inventory or new equipment for general working capital and much more. The loan is not available for personal purposes.
Asset security is necessary to obtain funding above $150,000. It’s by taking a charge over assets and can be registered through the PPSR or the registration of a caveat.
A personal or director’s ensure is a promise to repay a loan which is generally in nature rather than specifying the security of a specific asset. The person signing the guarantee is personally responsible if the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
Caveats are legal document that is filed to offer the public notice of a legal claim to property.
If you’re applying for a Larger Business Loan that is greater than $250K, we may offer an initial pre-approval that will help simplify the process. We may be able to make this decision without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial well-being checks. It’s neither an offer nor a guarantee of finance. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you are offered could have different terms.
You can apply for an business loan if you
The application process is fast and simple. Just fill out the online application in few minutes and an experienced company loan specialist will contact you to assist you.
To apply for up $100,000, you’ll require the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank records, IRD statement, last 2 years finalised financial statements, as well as interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour if you submit your request within standard business times and permit us to make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statements we can provide an answer in as little as one business day.
If you are applying for a Larger Business Loan ($100K and up) we could be likely to offer you with a conditional pre-approval in about six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Certain transactions have received approval in 24 hours.
The most effective method for you to apply is make sure you apply during normal business hours. Also, let us use the advance bank verification link to verify your bank account information online. If you opt to upload copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within an hour – provided you make your application in standard business times and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements, we are able to provide an answer within an business day.
For Larger Business Loans ($100K up to $500,000) We may be able to offer the conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Certain offers have been approved in just 24 hours.
The fastest way is to make sure you apply during normal business hours, and permit us to use the sophisticated bank verification link to confirm your bank details online. If you decide to send us documents from your account statement, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of elements for determining your health of your business and the amount of repayments that your company will be able to support. The total amount of the loan will be determined by the specifics of your business.
When you submit an application for a specific amount we look at a range of factors to assess the health that is your business and the extent of the repayments your company can afford. The amount you receive from your loan will be contingent on the specifics that are unique to your business.
If you decide to request one of our company loan, we’ll assess the risk assessment of your company and offer you with a tailored offer, including the loan amount, the terms and the interest rates. A company loan is an upfront cost loan so you will know the exact amount you will have to pay, including costs, fees, or interest rates.
Interest rates for business loans rates vary due to factors including the amount that is borrowed, what company assets the money will be used for in addition to the industry that the company operates in, how long the business has been running, what percentage of the company has sufficient cash flow to fund the loan, and also the overall well-being or financial standing of the business.
There aren’t any hidden costs for our business loans, and you’ll know exactly how much you need to pay and when, right from the first day. There’s no compounding interest, and there are no additional charges (as as long as you pay your payments in time).
We do not 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 setting up and managing the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of your loan at any point in time.
If you decide to take this route, please call our helpful business lending specialists. They’ll provide you with the details of your repayment and an early payment figure. This will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payment plus 1.5 percent of the remaining principal and any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your business account.
Security of your data, and being transparent about the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of huge importance and is a crucial aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We employ a highly sophisticated bank verification system to immediately verify the bank account details online to offer a fast response.
The term "asset-based" refers to borrowing where the company owner borrows from an asset they own to obtain a loan. The asset can be either an individual property, such as the family home, or it could be a business asset such as a truck or piece or equipment.
The vast majority of lenders, even the major banks, prefer to guarantee loans against an asset. If you’re having trouble paying back the loan, then the asset could be sold by the lender. In essence it’s an opportunity to secure new funding making use of the value of what you already own.
For loans of up to $150K, the requirement for asset security is not required before you are able to access the money However, we require a personal guarantee. require the personal guarantee. If you adhere to the loan terms (as detailed in your loan contract document) Asset security will never be required. For loans of over $150,000 generally there is personal guarantee and security that is in the form an asset charge.
