The eligibility requirements for an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Looking for more funding? Take a look at the eligibility requirements for our $100K-$500K company credit.
All you need for starting is your contact details (company name, your name, email, phone) along with the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we’ll need confirmation of your identity, but not to get started:
Once we’ve started, for loans greater than $150,000 you’ll also require basic financial statements:
Let’s get started.
Auckland unsecured loans provides 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.
Apply to the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an instant response and funds may be available in just 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. This company loan is an upfront priced loan therefore you’ll be aware of the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost every business reason, such as managing cash flows, company remodeling, marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are scheduled weekly or fortnightly depending on your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your business needs to have been trading for at least 3 years and generate an annual revenue of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger business loan can be used for almost any business need, including company remodeling, buying new equipment or inventory for general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary to obtain funding above $150,000. It is usually by way of charge over assets, which could also include registration with the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than defining security over an asset. The person who is signing the ensure is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including items or assets). The PPSR allows the priority of personal property assigned depending on the date that a security interest has been registered.
Caveats are legal form of document to offer notice of a legal claim on a property.
If you’re applying for an enterprise loan that is greater than $250K we may be able to provide an initial pre-approval in order to make the process. We may be able to do this without a credit check and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves the answer to a series of financial well-being questions. This is not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you receive could be on different conditions.
You can apply for an company loan if you:
The application process is quick and simple. Just complete the online application in just a few minutes, and a dedicated company lending specialist will contact you to help you.
To be eligible for up to $100,000, you’ll require ID details (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent, 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour if you apply during quality company hours and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements , we will be able to provide a decision within one business day.
If you are applying for a Larger Business Loan ($100K or more) we could be capable of offer the conditional pre-approval in around six hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some offers have been approved in just 24 hours.
The quickest way to apply can be ensure you apply during standard company hours and allow us to use our modern bank verification link to instantly verify your bank account information online. If you decide to send us copies of your bank statements , it can take a bit longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer in just one hour – as long as you apply during standard business times and you allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statement, we’ll provide a decision in just an business day.
If you are applying for Larger Business Loans ($100K and up) we might be able to provide you with conditional pre-approval within about six hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Some transactions have received approval in just 24 hours.
The fastest method can be ensure you apply during normal business hours. You can also let us use the advance bank verification to instantly confirm your bank details online. If you send us copies of your bank accounts, it takes a bit longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of aspects in order to assess what is the well-being that is your company and the level of payments your company can afford. The amount you receive from your loan will be contingent on the specific circumstances for your company.
If you apply for a certain amount, we will consider a number of variables to assess the well-being of the business and the amount of the repayments your company is able to afford. The total amount of your loan will depend on the specific circumstances the company.
If you decide to apply for business loans with us company credit, we will assess the risk profile that you have for your business and provide an individualised offer including the amount of loan, the term and the interest rates. The company loan is an upfront priced loan so you will know in advance the total amount you will have to pay, including charges or interest.
The interest rates on business loans rates vary due to factors including the amount that is borrowed, what business assets the funds will be used for and the sector the company is operating in, how long the company has been in operation, in the event that the company has enough cash flow to support the loan, as well as the overall well-being as well as creditworthiness company.
There are no hidden costs for our company loans. You’ll be aware of the amount you be required to pay, and when, from the day you sign up. There’s no compounding interest, and no extra fees (as as you make your payments on time).
We don’t charge an Application Fee. You are able to request a credit loan with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated with the setting up and management of the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back the total amount of your advance loan at any time.
If you decide to take this route, please talk to one of our helpful business credit specialists. They will provide you with repayment details as well as an early payout amount. It will be calculated using the total of the principal remaining plus any accrued interest as of the time of the early payout, plus 1.5% of the principal balance and any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and being clear about how we collect the information we collect, use, share and secure your information, is of paramount importance and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to security for our clients and privacy. We use an advanced bank verification system to immediately verify the bank account details online so we can offer quick responses.
Asset-based borrowing is when the company owner makes use of an asset they own to obtain the funding. The asset may be an asset belonging to the personal, like the family home, or an company asset like a truck or piece or equipment.
The majority of the lenders even the banks with the biggest size, prefer to guarantee loans against assets. If you are having difficulty paying back the loan then your assets could be taken over by the lender. In essence it is a way of securing additional financing using the value of what you already own.
For loans of up to $150,000, the requirement for asset security is not required in advance to gain access to the funds but we do require the personal guarantee. As long as you follow your loan commitments (as stated in your loan contract document) Asset security is not needed. If you take out loans in excess of $150K generally, there is the option of a personal ensure and security in the form a charge over assets.
