The eligibility requirements for an unsecured business loan in Wellington of between $5K to $100K are quite minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K to $500K company loans.
All that is needed to start is your contact details (the name of your company, your name, email or phone number) and the amount you’d like to lend, and your monthly earnings.
While in the process and before settlement we’ll require confirmation of your identity, but not for starting:
Once we’ve started when it comes to loans over $150,000 you’ll require the following financial statements:
Let’s get started.
Wellington unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
The application for your Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and have the funds on your account within 24 hours. Traditional business loans have an interest rate per annum together with additional fees and charges. We offer a company loan is an upfront priced loan therefore you’ll be aware in advance of the total amount due, which includes 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 business use, including cash flow management, business remodeling, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range between $100,000 and $500,000 for a fixed period of with a maximum of 36 months. The repayments are made 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 be eligible for a loan that is this large the company needs to be trading for at least 3 years, and have an annual income 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 of proving at minimum 12 months of business.
A Larger Business Loan is a great option for almost every business use, including business improvements, purchasing inventory or new equipment or as general working capital, and much more. The loan is not available for personal use.
Asset security is necessary for funding of more than $150,000. This can be done in the form of a charge over assets, and may include registration through the PPSR or filing a caveat.
A personal or director’s guarantee is a commitment to repay credit that is general in nature, rather than stating the security for a particular asset. The person who is signing the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR permits preference over private property assigned depending on the date that a security interest that is registered.
An affidavit is an official form of document to offer notice of a legal claim to a property.
If you’re seeking a Larger Business Loan of $250K or more, we may offer an initial pre-approval to ease the process. We may be able to make this decision without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial well-being checks. This is not an offer or guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer you might receive could be on different terms.
You may apply for a business loan if you:
The application process is quick and easy. Just fill out the online application in just a few minutes, and an experienced business loan specialist will be in touch to help you.
To apply for up $100,000 you’ll need ID details (valid Driver’s License), a valid NZBN/IRD and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually provide a response in one hour – as long as you make your application at quality business time and let us utilise the advanced bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statements , we are able to offer a decision in as little as one company day.
For Larger Business Loans ($100K and up) we might be able to provide you with conditional pre-approval in about six hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be quicker based on the specifics of each application. Certain agreements have been approved within just 24 hours.
The most efficient method for you to apply is make sure you apply during normal company hours. You can also allow us to use our advanced bank verification system to check your bank’s information online. If you decide to send us copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K or more) we can often provide an answer in just one hour – as long as you submit your request in standard business times and 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 bank statement, we’ll offer the decision within one business day.
If you are applying for Larger Business Loans ($100K to $500K) we might be likely to provide you with conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this can be faster depending upon the circumstances for each application. Some agreements have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours, and allow us to use the advanced bank verification system link to check your bank’s information online. If you opt to send us the copies of bank statements, it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a certain amount, we take into consideration a range of aspects in order to assess your health that is your company and the level of repayments your company can afford. The amount you receive from the loan will be determined by the specifics that are unique to your business.
When you make an application for a specific amount we look at a range of factors to determine your health of your business and the level of payments your company can afford. The total amount of your loan will be determined by the particulars the company.
When you apply for our business loan, we will assess the risk assessment the business and offer you with a customised offer that includes the amount of loan, the term and interest rates. This company loan is an upfront cost loan therefore you will be aware of the total amount due, which includes any costs, fees, or interest rates.
Interest rates for business loans rates differ based on various factors like the amount of money of money borrowed, the business assets the money will be used for as well as the field the company operates in, how long the business has been running and 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 business loans, and you’ll know precisely how much it is that you need to pay and at what time, from day one. There’s no compounding and no additional fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You are able to request a credit loan with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back all of your loan early at any time.
If you do decide to do this please contact our helpful company credit professionals. We will provide you with details on repayment along with an early payout estimate. It will be calculated using the total of the principal remaining plus any accrued interest as of the time of early payout, plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To help you avoid missing payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. They are automatically deducted from your designated business account.
The security of your personal information, as well as being clear about the ways we gather data, process, exchange and protect your information, is of huge importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system to instantly verify your bank account information online. This allows us to offer rapid response.
Asset-based borrowing is when the company owner utilises the assets they have to obtain the loan. The asset can be an asset belonging to the personal, like the family home, or an business property like a truck or other piece of machinery.
The vast majority of the lenders not just the major banks, prefer to guarantee loans against an asset. If you have trouble paying back the loan, then the asset might be sold by the lender. In essence it is an opportunity to secure new financing using the worth of the asset you already have.
Up to $150,000 in loans it is not necessary to secure assets before you are able to access the money However, we do require an individual guarantee. So long as you comply with the terms of your loan (as stipulated in your loan contract document) and you are able to meet your obligations, asset security will never be needed. For loans of over $150,000 generally, you are able to get personal guarantee and security that is in the form charges on assets.
