The criteria for eligibility for an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Looking for more funding? Review the eligibility requirements for our $100K to $500K business loan.
All that is needed to start is your contact details (the name of your company, your name, email and telephone), how much you’d like to lend, and your monthly earnings.
Through the process and before settlement we’ll require confirmation of who you are but not before we can begin:
Once we’ve started, for loans over $150,000 you’ll require basic financial statements:
Let’s get started.
Auckland unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments, which are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes over the phone, receive an immediate response, and the funds could be in your account within 24 hours. Traditional business loans are based on an annual interest rate as well as other fees and charges. This company loan is a pre-paid loan therefore you’ll know in advance the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into weekly or daily installment amount.
A Small Business Loan can be used to fulfill almost every company purpose including control of cash flow company remodeling, marketing, to purchase inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan that is this large, your company needs to have been operating for at least three years and generate an annual revenue of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have 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 can be used for nearly all business reason, such as business renovations, to purchase equipment or inventory for general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is required to access funding over $150,000. This is in the form of a charge against assets, and may be registered on the PPSR or filing a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than stating security over a particular asset. The person who is signing the guarantee is personally liable in the event that the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including objects or assets). The PPSR gives preference over private property granted according to the date the security interest was registered.
Caveats are legal document that is filed to offer an official notice of a claim to a property.
If you’re seeking an enterprise loan of more than $250,000 we may be able to provide an initial pre-approval in order to simplify the process. We might be able to get this done without a credit check and within six hours of your initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health checks. It is not an offer or guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you may receive may be subject to different conditions.
You are eligible to apply for an business loan if you
The process for applying is fast and simple. Simply complete the online form within a few minutes and an experienced business lending specialist will be in touch to guide you through the process.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K-$250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Details for application including credit consent as well as 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, as well as interim current financial year financials such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within an hour, provided you apply at quality business hours and permit us to use the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements we can provide an answer in as little as the span of one business day.
For the Larger Business Loan ($100K to $500K) we could be capable of provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this can be quicker based on the circumstances of each application. Some agreements have been approved within 24 hours.
The quickest method for you to apply is make sure you apply during standard company hours and let us use the advance bank verification link to instantly confirm your bank details online. If you decide to send us duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour if you apply in normal business timings and let us utilise the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements we can offer a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) we might be able to provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Some agreements have been approved within less than 24 hours.
The quickest method would be to ensure you apply during standard business hours. You can also let us use the advance bank verification to instantly verify your bank account information online. If you opt to upload duplicates of your banking statements, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount we will consider a number of factors for determining the well-being of the business and the amount of the repayments your business can support. The amount you receive from your loan will depend on the particular circumstances for your business.
When you apply for a particular amount, we will consider a number of variables to assess your well-being for your business and the level of repayments your business will be able to support. The total amount of your loan will depend on the specific circumstances that are unique to your company.
If you decide to make an application for our business financing, we will assess the risk profile for your business and provide you with a customised proposal that includes the amount of loan, the term and interest rates. A business loan is an upfront cost loan therefore you will be aware of the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on several factors including the amount borrowed, what business assets the funds will be used for, the industry the business operates in, the long the company has been running, in the event that the business has sufficient cash flow to pay for the loan, as well as the general well-being or creditworthiness of the company.
There are no hidden costs for our business loans, and you’ll know exactly how much it is that you be required to pay and when, right from the first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments in time).
We do not charge an application fee. You can request a credit loan with no upfront cost or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for 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 total amount of your loan at any point in time.
If you are deciding to pursue this option, please contact our helpful company loan professionals. We will offer you with repayment details as well as an early payout amount. This is calculated as the total of the principal remaining and accrued interest to the time of early payout, plus 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically withdrawn from your company account.
Making sure that your information is secure, and being upfront about the ways we gather the information we collect, use, share and protect your information, is vital and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We use an advanced bank verification system to instantly verify your bank account details online to provide a fast response.
Asset-based borrowing is when a business owner utilises assets they own to get a loan. The asset can be either an individual property, such as the family home, or a business asset like a truck or piece of equipment.
The majority of the lenders even the major banks, prefer to secure loans against assets. If you have trouble paying back the loan, then your asset may be transferred to the lender. In essence it is a way of securing new funding using the value of what you already have.
For loans up to $150K the requirement for asset security is not required before you are able to access the money but we require a personal guarantee. need a personal guarantee. In the event that you fulfill the loan terms (as specified in your loan contract document) Asset security is not required. For loans of over $150,000 generally, there is the option of a personal guarantee and security in the form of a charge over assets.
