The requirements for obtaining an unsecured business loan in Lower Hutt of between $5K to $100K are quite minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K company financing.
All you need to begin is your contact details (company name, your name, email and telephone) along with the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of your identity but not to get started:
In addition, once we have started, for loans greater than $150,000 you will also require basic financial statements:
Let’s get started.
Lower Hutt unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
Apply to the Small Business Loan in under 10 minutes online or on the phone. You’ll receive a same day response and the funds could be on your account within 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. The company loan is an upfront priced loan and you’ll be aware of the total amount payable including the interest, fees and charges. This is then broken down into either weekly or daily repayment figure.
A Small Business Loan can be used for virtually every company use, including control of cash flow company remodels and marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly depending on your situation.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the loan amount.
To be eligible for a credit in this amount, your company needs to have been in operation for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large company loan can be used for nearly all company use, including business renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is required for accessing funds over $150,000. This can be done by taking a charge over assets, and may be registered on the PPSR or making a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is generally in nature rather than stipulating security over a particular asset. The person who is signing the ensure is personally liable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are that are registered for personal property (including the assets or goods). The PPSR permits the priority of personal property granted according to the date the security interest was registered.
An affidavit is an official document that is filed to provide the legal claim to property.
If you’re seeking an enterprise loan of more than $250K, we may offer an initial pre-approval to smooth out the process. We could be able to apply for this without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial well-being questions. It’s in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to an extensive credit evaluation and any offer that you receive could be on different conditions.
You can apply for a company loan if you:
The process for applying is fast and simple. Complete the online form within a few minutes and an experienced business expert in lending will contact you to guide you through the process.
For a loan of up to $100,000, you’ll need ID details (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent twelve months of bank records, IRD statement and the last two years’ finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K to $100K) we can often provide an answer in just one hour, provided you make your application at standard business times and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements , we’ll be able to provide an answer in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Certain deals have been approved in 24 hours.
The fastest way would be to ensure you apply during normal business hours, and permit us to use the advance bank verification link to instantly confirm your bank details online. If you upload copies of your bank statements , it can take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer within one hour – provided you apply during standard business time and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to send us copies of your bank statements we can provide a decision in just the span of one business day.
For the Larger Business Loans ($100K and up) We may be able to offer you with pre-approval conditional to your application within about six hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain deals have been approved in the space of 24 hours.
The quickest method would be to make sure you apply during normal business hours. Also, permit us to use the sophisticated bank verification link to confirm your bank details online. If you decide to send us copies of your bank statement, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a particular amount, we look at a variety of elements that determine the health of your company and the amount of the repayments your company is able to afford. The total amount of your loan will be contingent on the specifics for your business.
When you apply for a particular amount, we will consider a number of aspects to assess the well-being of the business and the extent of repayments your company is able to afford. The amount you receive from your loan will be contingent on the particular circumstances of your company.
When you make an application for our company loans, we’ll assess the risk profile that you have for your company and offer you with a tailored offer including the loan amount, the terms and interest rates. The company loan is a loan that is priced upfront so you will know the exact amount due, which includes any costs, fees, or interest rates.
Interest rates for business loans rates vary due to factors such as the amount that is borrowed, what business assets the funds will be used for, the industry the business is in, how long the business has been running as well as how long the company has enough cash flow to pay for the loan, and the overall well-being as well as creditworthiness company.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you’ll be required to pay and when, starting from the very first day. There’s no compounding interest, and no additional fees (as as long as you pay your payments on time).
We do not charge an Application Fee. You are able to make an application for loans absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back all of your loan early at any time.
If you do decide to pursue this option, please speak to our friendly company loans professionals. They will offer you with the details of your repayment and an early payout figure. This is calculated as the total of the principal remaining and the accrued interest up to the time of early payment and 1.5% of the principal amount remaining plus any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your nominated business account.
Making sure that your information is secure, and making it clear the ways we gather information, use it, and exchange it, as well as secure your information, is vital and is an essential part of our relationship you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We employ an exceptionally sophisticated banking verification system to instantly verify your bank account details online, allowing us to provide quick responses.
The term "asset-based" refers to borrowing where a business owner utilises an asset that they own to get a loan. The asset can be either a personal asset like the family home or an company asset such as a vehicle or other piece of machinery.
The majority of the lenders including the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan, your assets could be transferred to the lender. In essence, it is means of securing new financing taking advantage of the value of what you already own.
For loans up to $150K there is no requirement for asset security in advance to gain access to the funds, however we require a personal guarantee. need an individual guarantee. If you adhere to your loan commitments (as stated in the loan contract) the security of assets is not required. If you take out loans in excess of $150K generally, you can get a personal ensure and security in the form of the charge of assets.
