The requirements for obtaining an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you need more money? Find out the eligibility requirements for our $100K-$500K business credit.
All that’s needed to get started is your contact details (company name, your name, email, phone) and 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 who you are, but not before we can begin:
Once we’ve started in the process, for loans over $150,000 you’ll also need basic financial statements:
Let’s get started.
Auckland unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the money could be on your account within 24 hours. Traditional company loans have an annual interest rate together with additional fees and charges. This company loan is a cash-based loan therefore you’ll be aware in advance of the total amount payable including the interest, fees and charges. This is then broken down into a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost any business need, such as the management of cash flow, business improvements, advertising for purchasing inventory or new equipment, as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly, depending on your cash flow.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan in this amount the company needs to be operating for a minimum of 3 years with an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A Larger Business Loan is a great option for almost all business need, including business renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan is not available for personal use.
Asset security is needed for accessing funds over $150,000. This is as a result of an charge on assets, and may include registering this on the PPSR or filing a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature, rather than defining the security for a particular asset. The person who signs the guarantee is personally responsible if the company borrower is unable to pay back 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 which are registered with respect to personal property (including the assets or goods). The PPSR allows priority over personal property to be granted according to the date a security interest that is registered.
A caveat is a legal document filed to provide the legal claim against a property.
If you’re requesting the Larger Business Loan that exceeds $250,000 it is possible to offer an initial pre-approval in order to simplify the process. We may be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health checks. It’s not an offer or guarantee of finance. The approval of a conditional loan is subject to a full credit assessment and any offer that you receive could be based on different terms.
You can apply for an company loan if you
The process for applying is fast and easy. Just fill out the online application within a few minutes and an experienced company credit specialist will be in touch to help you.
To apply for up $100,000, you’ll require ID details (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K – $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent twelve months of bank statements, IRD statement as well as the two most recent years’ financial statements, and interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) We can usually offer a response in one hour, provided you apply during standard company timings and let us use the advanced bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements we can provide the decision within just the span of one company day.
For Larger Business Loans ($100K to $500K) we might be able to provide you with conditional pre-approval in about six hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending on the particular circumstances of each application. Some deals have been approved in just 24 hours.
The quickest method can be ensure you apply during standard business hours, and let us use the advanced bank verification system to confirm your bank details online. If you opt to send us duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour – provided you make your application during normal business hours and let us use the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your bank statement, we’ll offer a decision in just one business day.
For the Larger Business Loans ($100K and up) we might be likely to provide you with a conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain deals have been approved in 24 hours.
The quickest method would be to ensure you apply during standard business hours, and allow us to use the advance bank verification to verify your bank account information online. If you decide to send us documents from your account accounts, it may take a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a particular amount, we will consider a number of aspects for determining what is the well-being of the company and the level of payments your company can support. The amount you receive from the loan will be determined by the specific circumstances for your business.
If you apply for a set amount, we take into consideration a variety of elements to assess the well-being for your company and the extent of payments your business is able to afford. The total amount of your loan will be determined by the specific circumstances of your business.
When you request one of our business credit, we’ll assess the risk profile for your business and offer an individualised offer that includes loan amount, term and the interest rates. The company loan is an upfront priced loan and you’ll know the exact amount you will have to pay, including charges or interest.
Interest rates for business loans rates depend on a variety of variables like the amount to be of money borrowed, the company assets the money will be used for, the industry the business operates in, the long the company has been operating for, whether the company has sufficient cash flow to support the loan, and the overall health and creditworthiness of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you be required to pay and when, starting from the day you sign up. There’s no compounding and no additional fees (as as long as you pay your payments in time).
We don’t charge an application fee. You can make an application for loans without any upfront costs or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of your loan early at any time.
If you choose to pursue this option, please contact our helpful company loan professionals. The professionals will offer you with details on repayment and an early payout figure. This will be calculated as the total of the remaining principal amount and any accrued interest at the time of the early payout, plus 1.5 percent of the principal remaining and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we provide payments that are either daily or weekly. These are automatically deducted from your nominated company account.
The security of your personal information, as well as being upfront about how we collect information, use it, and exchange it, as well as secure your information, is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We use an advanced banking verification system to instantly verify the bank account details online. This allows us to provide an immediate response.
An asset-based loan is when the company owner borrows from an asset they own to get the loan. The asset may be an individual property, such as the family home or an company asset such as a truck or piece of equipment.
The vast majority of banks, even the major banks, prefer to make loans secured by an asset. If you are having difficulty paying back the loan, then your asset may be offered for sale by the lender. In essence it’s the process of securing new funding using the worth of the asset you already have.
For loans that exceed $150,000, there is no requirement for asset security in advance to gain access to the funds, however we do require an individual guarantee. As long as you follow the terms of your loan (as detailed in your loan contract) and you are able to meet your obligations, asset security will never be needed. If you take out loans in excess of $150,000 generally, there is an individual guarantee and security in the form of the charge of assets.
