The requirements for obtaining an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Review the guidelines for eligibility for our $100K to $500K business credit.
All that’s required for starting is your contact details (company name, your name, email address and telephone) as well as the amount you’d like to borrow, and your monthly revenue.
Through the process and before settlement we will require confirmation of your identity, but not to get started:
Once we’ve started with loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started.
Auckland unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
It is possible to apply to the Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and have the funds in your account within 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. The company loan is a loan that is priced upfront and you’ll be aware in advance of the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used for virtually every business use, including control of cash flow company improvements, advertising to purchase inventory or new equipment, for general working capital and so much more. The loan is not available 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 with a term fixed up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a loan of this size the company needs to be in operation for at least 3 years and generate an annual revenue of $700K. It is necessary to 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 to prove at minimum 12 months of business.
A Business Loan of a larger size can be used for almost all company need, including company improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan is not available for personal use.
Asset security is required for funding of more than $150,000. It is usually in the form of a charge over assets, and could include registration in the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is generally based rather than specifying security over a particular asset. The person signing the guarantee is personally liable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a security interest has been registered.
A caveat is a legal document filed to provide the legal claim against a property.
If you’re applying for a Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval that will help ease the process. It is possible to make this decision without credit checks and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering some financial health checks. It’s neither an offer nor a guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer you may receive may have different conditions.
You are eligible to apply for an business loan if you:
The application process is simple and simple. Just fill out the online application within a couple minutes, and a dedicated business credit specialist will call you to guide you.
To apply for up to $100,000 you’ll need ID details (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent, 12 months of bank records, IRD statements and the last two years’ finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually provide a response in one hour if you submit your request at standard business time and let us use the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your banking statements we can offer the decision within one business day.
For the Larger Business Loan ($100K or more) we could be able to offer you with conditional pre-approval within six hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The most effective method for you to apply is make sure you apply during normal company hours and allow us to use the advance bank verification link to verify your bank account information online. If you send us the copies of bank statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer in just one hour if you submit your request in standard business time and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statements, we are able to provide an answer within one business day.
If you are applying for Larger Business Loans ($100K or more) we could be likely to provide you with a conditional pre-approval within about six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Some transactions have received approval within just 24 hours.
The fastest method would be to ensure you apply during normal business hours, and allow us to use our advanced bank verification system link to instantly check your bank’s information online. If you send us copies of your bank statements it can take a bit longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of aspects in order to assess what is the health for your business and the extent of repayments that your company is able to afford. The amount you receive from the loan will be determined by the specifics the business.
When you submit an application for a certain amount, we look at a range of elements to determine how much we can lend you such as health of your business and the extent of payments your company can support. The total amount of your loan will be contingent on the particulars for your business.
If you decide to apply for business loans with us company credit, we’ll assess the risk assessment the company and provide you with a customised offer that includes the amount of the loan, the duration and interest rates. The business loan is a loan that is priced upfront and you’ll know the exact amount payable including any charges or interest.
Business loan interest rates depend on a variety of factors such as the amount that is borrowed, the company assets the funds are used to purchase and the sector the business operates in, how long the business has been running and what percentage of the company has sufficient cash flow to cover the loan, as well as the overall health and creditworthiness of the business.
There are no hidden costs with our company loans, and you’ll be aware of the amount it is that you need to pay and when, from the first day. There’s not any compounding interest and there are no additional charges (as as long as you pay your payments on time).
We do not charge an Application Fee. You are able to request a credit loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can choose to repay the entire amount of your loan at any point in time.
If you are deciding to pursue this option, please talk to one of our helpful business loans professionals. We will provide you with repayment details and an early payout figure. This will be calculated as the total of the principal amount remaining and any accrued interest at the time of early payment plus 1.5% of the remaining principal and any outstanding fees.
To make sure that you don’t miss payments and to work your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your nominated company account.
Making sure that your information is secure, and being clear about how we collect, use, exchange and protect your information, is vital and is an essential aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to security for our clients and security. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify the bank account details online to provide a fast response.
The term "asset-based" refers to borrowing where an company owner makes use of the assets they have to get the funds for a loan. The asset can be either an individual asset, such as the family home or a business asset such as a vehicle or piece of equipment.
The majority of lending institutions, including the major banks, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then the asset could be taken over by the lender. In essence, it’s an opportunity to secure new funding using the value of what you already have.
For loans that exceed $150K, the requirement for asset security is not required before you are able to access the money, however we do need the personal guarantee. As long as you follow your loan commitments (as specified in your loan contract document) Asset security is not required. For loans of over $150K generally, you can get personal guarantee and security in the form of an asset charge.
