The requirements for obtaining an unsecured business loan in Lower Hutt of between $5K and $100K is fairly low.
Need more funds? Review the conditions of eligibility for our $100K to $500K company loans.
All that’s required to get started is your contact information (company name, your name, email and telephone) along with the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will need confirmation of your identity but not before we can begin:
In addition, once we have started, for loans of more than $150,000 you will also need basic financial statements:
Let’s get started now.
Lower Hutt unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes by phone. You will receive an instant response and the funds could be in your account in 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. We offer a company loan is a pre-paid loan therefore you’ll be aware in advance of the total amount to be paid, including any fees, interest or charges. Then, it is broken down into a daily or weekly repayment figure.
A Small Business Loan can be used to fulfill almost any business use, including cash flow management, company improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans are between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To qualify for a loan in this amount, your company needs to have been operating for at least three years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly any business need, including business remodeling, buying new equipment or inventory or as general working capital, and much more. The loan is not available for personal use.
Asset security is necessary to obtain funding above $150,000. This can be done in the form of a charge over assets, and could include the registration of this with the PPSR or registering as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is general in nature rather than specifying security over a particular asset. The person who signs the ensure is personally responsible if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR permits preference over private property granted according to the date the security interest that is registered.
Caveats are legal document lodged to offer an official notice of a claim to property.
If you’re applying for larger business loans that exceeds $250K it is possible to offer an initial pre-approval in order to ease the process. We could be able to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial well-being questions. It’s in no way an offer, nor is it a guarantee of financing. Unconditional approval is subject to an extensive credit evaluation and any offer that you might receive could be based on different conditions.
You are eligible to apply for a company loan if you:
The application process is fast and simple. Just fill out the online application within a couple minutes, and an experienced company expert in lending will call you to guide you.
To apply for up to $100,000, you’ll need identification details (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 need:
$100K to $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, as well as interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we can often offer a response in one hour if you submit your request during standard business timings and let us use the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements , we’ll be able to offer the decision within 1 company day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some deals have been approved within 24 hours.
The fastest way would be to ensure you apply during normal company hours, and allow us to use our advanced bank verification system to instantly confirm your bank details online. If you opt to upload copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer within one hour – provided you make your application within normal business time and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statement, we’ll provide an answer in as little as 1 business day.
For the Larger Business Loans ($100K and up) we might be in a position to provide the conditional pre-approval in about six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some deals have been approved in the space of 24 hours.
The fastest way would be to make sure you apply during standard business hours, and allow us to use the modern bank verification to instantly confirm your bank details online. If you upload documents from your account statements, it may take a bit longer.
We provide loans ranging from $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of factors to determine the health for your company and the amount of repayments your company will be able to support. The amount you receive from your loan will be contingent on the specifics of your business.
If you apply for a specific amount we will consider a number of factors to determine how much we can lend you such as health of your company and the extent of repayments your business can support. The total amount of the loan will be determined by the specific circumstances the business.
When you make an application for the business loan, we will assess the risk profile that you have for your business and provide you with a customised offer, including loan amount, term and interest rates. The company loan is an upfront cost loan which means you be aware of the total amount due, which includes any charges, interest rates or fees.
Business loan interest rates vary due to factors such as the amount that is that is borrowed, what business assets the funds are used to purchase, the industry the company operates in, how long the business is in operation, in the event that the company has sufficient cash flow to support the loan, and general health as well as creditworthiness company.
There are no hidden fees for our company loans. You’ll know precisely how much it is that you need to pay, and when, from day one. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments on time).
We do not charge an application fee. You can make an application for loans with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can choose to repay all of your loan in full at any time.
If you do decide to do this please speak to our friendly company lending specialists. We will provide you with details on repayment as well as an early payout amount. This will be calculated as the sum of the principal amount remaining plus any accrued interest as of the time of the early payout in addition to 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To ensure that you don’t miss payments and to work with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your nominated company account.
Security of your data, and being clear about how we collect the information we collect, use, share and secure your information, is of huge importance and is an essential element of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to security for our customers and security. We employ an exceptionally sophisticated bank verification system to immediately confirm your bank account information online. This allows us to offer a fast response.
Asset-based borrowing occurs when the business owner utilises an asset they own to obtain the funds for a loan. The asset may be an asset belonging to the personal, like the family home, or a business asset such as a truck as well as a piece of machine.
The majority of lenders, including the banks with the biggest size, prefer to make loans secured by an asset. If you have trouble paying back the loan then the asset could be transferred to the lender. In essence, it is means of securing new financing using the worth of the asset you already have.
Up to $150,000 in loans the requirement for asset security is not required upfront to access the money however, we do require the personal guarantee. If you adhere to your loan obligations (as detailed in your loan contract document), asset security is not required. For loans of over $150,000 generally there is personal ensure and security that is in the form an asset charge.
