The criteria for eligibility for an unsecured business loan in Lower Hutt of between $5K and $100K is fairly low.
Looking for more funding? Take a look at the conditions of eligibility for our $100K to $500K business financing.
All that is needed to begin is your contact information (company name, your name, email address and telephone) and the amount you’d like to lend, and your monthly income.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
Once we’ve started when it comes to loans over $150,000 you’ll also need basic financial statements:
Let’s get started now.
Lower Hutt unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes over the phone, receive an instant response and the money could be in your account in 24 hours. Traditional business loans reference an interest rate per annum together with additional fees and charges. We offer a business loan is a pre-paid loan and you’ll know in advance the total amount payable including any fees, charges or charges. Then, it is broken down into either a daily or weekly payment amount.
The Small Business Loan can be used for nearly any business need, such as control of cash flow business remodels and marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 with a term fixed 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 percent of the loan amount.
To qualify for a loan that is this large the business needs to have been in operation for at least 3 years and have an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used to fund almost every business use, including business remodeling, buying equipment or inventory or as general working capital and much more. The loan is not available for personal purposes.
Asset security is necessary to obtain funding above $150,000. This can be done in the form of a charge against assets and can be registered on the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature rather than stating the security of a specific asset. The person signing the guarantee is personally responsible if the business 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 reflects security interests that are registered for personal property (including the assets or goods). The PPSR permits priority over personal property to be granted depending on the date that a security interest was registered.
Caveats are legal document filed to offer notice of a legal claim on a property.
When you’re applying for an enterprise loan of $250K or more we may be able to provide an initial pre-approval in order to ease the process. We may be able to apply for this without a credit check and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial well-being questions. This is neither an offer nor a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer you may receive may have different terms.
You are eligible to apply for an company loan if you
The application process is simple and easy. Simply complete the online form in just a few minutes, and a dedicated company lending specialist will call you to help you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License) along with a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer within one hour if you make your application at quality business hours and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statements , we’ll be able to offer a decision within one business day.
For Larger Business Loans ($100K and up) we might be able to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be quicker based on the particular circumstances of each application. Certain transactions have received approval in just 24 hours.
The most efficient method is to make sure you apply during standard company hours. Also, permit us to use the advanced bank verification system link to verify your bank information online. If you upload documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide a response in one hour if you apply at normal business hours and you allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements we can provide the decision in as little as one business day.
For the Larger Business Loans ($100K and up) we could be likely to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, it could be faster based on the specifics of each application. Some offers have been approved within less than 24 hours.
The quickest method is to ensure you apply during normal business hours. Also, allow us to use our modern bank verification link to verify your bank account information online. If you opt to send us documents from your account statements it may take a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a specific amount we look at a variety of variables for determining the health for your company and the level of the repayments your business will be able to support. The amount you receive from your loan will depend on the specific circumstances of your business.
If you apply for a specific amount we look at a range of factors to assess the health of the business and the amount of repayments your business will be able to support. The total amount of your loan will depend on the specifics that are unique to your company.
When you request our company loans, we will assess the risk assessment the company and provide you with a customised offer including the amount of the loan, the duration and the interest rates. A business loan is an upfront priced loan therefore you will know the exact amount to be paid, including any interest rates, fees or charges.
Business loan interest rates differ based on various variables like the amount to be borrowed, what company assets the funds will be used for and the sector the business is operating in, how long the company has been in operation, whether the company has enough cash flow to cover the loan, as well as the overall well-being and creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll know exactly how much you be required to pay and when, right from the first day. There’s no compounding interest, and no extra fees (as as you make your payments punctually).
We don’t charge an application fee. You can request a credit loan with with no upfront cost or commitment to apply.
The Origination Fee is the cost associated in 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 percent of the amount of the loan.
You can decide to repay the total amount of your loan at any point in time.
If you do decide to do this please speak to our friendly business credit specialists. The professionals will offer you with the details of your repayment as well as an early payout amount. This will be calculated as the total of the principal amount remaining and the accrued interest up to the time of the early payout in addition to 1.5 percent of the principal balance as well as any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow routine, we offer repayments either daily or weekly. These are automatically deducted from your designated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and safeguard your data, is of paramount importance and is a crucial element of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where a business owner uses an asset that they own to make the funding. The asset can be either a personal asset like the family home, or an business asset such as a truck or other piece of machinery.
The majority of banks, including the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan, the asset might be offered for sale by the lender. In essence, it is a way of securing new financing by taking advantage of the value of what you already own.
For loans up to $150K it is not necessary to secure assets upfront to access the money but we require a personal guarantee. require an individual guarantee. In the event that you fulfill your loan obligations (as stated in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans of over $150,000 generally, you can get personal guarantee and security in the form charges on assets.
