The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Looking for more funding? Review the eligibility requirements for our $100K-$500K company loan.
All that is needed to begin is your contact details (company name, your name, email and phone) along with the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we’ll need confirmation of your identity but not for starting:
Additionally after we get started when it comes to loans of more than $150,000 you will also require basic financial statements:
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
You can apply to get this Small Business Loan in under 10 minutes over the phone, receive an immediate response, and the money could be in your account in 24 hours. Traditional company loans are based on an annual interest rate plus other fees and charges. This company loan is a pre-paid loan so you will know ahead of time the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used for nearly any company use, including managing cash flows, business remodels and marketing to purchase inventory or new equipment, for general working capital and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large the company needs to be in operation for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (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 company reason, such as company remodeling, buying new equipment or inventory as well as for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. This can be done by taking a charge against assets, which could also include registering this on the PPSR or registering a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally in nature rather than stipulating the security of a specific asset. The person who is signing the guarantee is personally liable if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including objects or assets). The PPSR permits the priority of personal property granted depending on the date that a security interest has been registered.
An affidavit is an official document filed to offer the public notice of a legal claim to a property.
If you’re requesting the Larger Business Loan of $250K or more we can offer an initial pre-approval to make the process. It is possible to make this decision without a credit check, and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health questions. It’s not an offer of credit or guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer you may receive may be subject to different conditions.
You can apply for an company loan if you
The application process is fast and simple. Simply complete the online form in few minutes and a dedicated company loan specialist will call you to help you.
To apply for up $100,000 you’ll require proof of identity (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent, 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K to $100K) We can usually offer an answer within an hour, provided you apply in standard business hours and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your banking statement, we’ll provide an answer in just an business day.
If you are applying for a Larger Business Loan ($100K or more) we might be in a position to provide you with conditional pre-approval within about 6 hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain offers have been approved in less than 24 hours.
The most effective method is to make sure you apply during standard company hours. You can also allow us to use our advance bank verification link to instantly verify your bank account information online. If you upload copies of your bank statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within an hour, provided you make your application at normal business time and let us use the bank verification system link to instantly verify your bank information online. If you decide to upload copies of your banking statements, we are able to provide the decision in as little as one business day.
For Larger Business Loans ($100K to $500K) we may be likely to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be faster depending upon the circumstances for each application. Certain transactions have received approval within 24 hours.
The most effective method is to ensure you apply during normal business hours and let us use the advance bank verification link to verify your bank account information online. If you opt to upload the copies of bank statement, it will take a little longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a particular amount, we look at a variety of aspects in order to assess your health of your business and the extent of repayments that your business is able to afford. The amount you receive from your loan will be contingent on the specifics for your company.
When you apply for a set amount, we will consider a number of variables to determine the health of your business and the amount of repayments that your business can support. The amount you receive from your loan will be determined by the particular circumstances that are unique to your business.
If you decide to make an application for the company credit, we will assess the risk assessment for your business and offer you with a customised offer, including the loan amount, the terms and the interest rates. It is a business loan is a loan that is priced upfront so you will know in advance the total amount payable including any charges or interest.
The interest rates on business loans rates depend on a variety of factors including the amount that is borrowed, what company assets the money are used to purchase in addition to the industry that the company is in, how long the business has been operating and whether the business has enough cash flow to support the loan, and overall well-being or creditworthiness of the business.
There aren’t any hidden charges for our business loans, and you’ll know precisely how much you need to pay and at what time, from the first day. There’s no compounding interest and no additional fees (as long as you make your payments punctually).
We do not charge an application fee. You can make an application for loans without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. The only way to pay this fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can choose to repay the total amount of your loan in full at any time.
If you do decide to take this route, please contact our helpful business lending professionals. We will offer you with details on repayment and an early payout figure. The figure will be calculated as the total of the remaining principal amount plus any accrued interest as of the date of early payout, plus 1.5 percent of the principal amount remaining and any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we provide repayments either daily or weekly. These are automatically withdrawn from your nominated company account.
Security of your data, and knowing how we collect data, process, exchange and protect your information, is vital and is an essential element of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We utilise a sophisticated bank verification system that allows you to immediately confirm your bank account information online so we can offer a fast response.
An asset-based loan is when an business owner uses the assets they have to secure the funding. The asset may be a personal asset like the family home, or it could be a business asset such as a truck or other piece of machinery.
The majority of lenders, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan then your asset may be taken over by the lender. In essence it is an opportunity to secure new funding taking advantage of the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not required in advance to gain access to the funds however, we do need a personal guarantee. If you adhere to the loan terms (as detailed in your loan contract document) the security of assets is not needed. For loans over $150,000 generally, there is an individual ensure and security in the form of an asset charge.
