The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Need more funds? Review the guidelines for eligibility for our $100K to $500K business credit.
All you need to start is your contact details (company name, your name, email and phone) as well as the amount you want to borrow, and your monthly earnings.
While in the process and before settlement we will require confirmation of your identity but not to get started:
Once we’ve started, for loans greater than $150,000 you’ll also require the following financial statements:
Let’s get started.
Auckland unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and have the funds available in just 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. This company loan is an upfront priced loan therefore you’ll be aware of the amount you will have to pay, including the interest, fees and charges. This is then broken down into weekly or daily payment amount.
The Small Business Loan can be used for almost every business use, including cash flow management, business renovations, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term that can last up to 36 months. The repayments are made weekly or fortnightly depending on your situation.
A Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
To be eligible for a credit that is this large the company needs to be operating for at least three years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan can be used to fund almost every business need, including business remodeling, buying equipment or inventory as well as for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is necessary to access funding over $150,000. It’s by taking a charge over assets, and could be registered in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to repay a loan which is generally in nature rather than specifying the security for a particular asset. The person who signs the guarantee is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR allows preference over private property assigned depending on the date that a security interest was registered.
A caveat is a legal document filed to offer notice of a legal claim to property.
If you’re requesting larger company loans that exceeds $250,000 we may be able to provide an initial pre-approval to make the process. We may be able to apply for this without a credit check and within six hours of your initial application. This pre-approval is based on an initial assessment that includes the answer to a series of financial health checks. It is not an offer or guarantee of finance. A conditional approval is subject a full credit assessment and any offer that you may receive may be on different terms.
You can apply for an company loan if you:
The process for applying is fast and easy. Simply complete the online form in just a few minutes, and an experienced company credit specialist will call you to help you.
To be eligible for up to $100,000 you’ll need identification details (valid Driver’s License), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent and 12 months of bank statements, IRD statements, last 2 years finalised financial statements, and interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) We can usually offer an answer within an hour if you apply during standard company times and allow us to utilise the bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements , we’ll be able to offer a decision in just one business day.
For Larger Business Loans ($100K and up) we may be in a position to provide you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some offers have been approved in less than 24 hours.
The most effective method can be ensure you apply during standard business hours. Also, allow us to use the modern bank verification to verify your bank information online. If you opt to send us duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within an hour if you submit your request at normal business times and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can offer a decision in as little as the span of one business day.
For Larger Business Loans ($100K to $500K) we might be in a position to provide the conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this can be faster depending upon the circumstances for each application. Some offers have been approved within the space of 24 hours.
The most efficient method is to ensure you apply during standard business hours and allow us to use the sophisticated bank verification to verify your bank account information online. If you send us duplicates of your banking accounts, it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a certain amount we look at a variety of aspects in order to assess how much we can lend you health for your business and the extent of repayments that your company is able to afford. The total amount of the loan will be determined by the particular circumstances for your business.
When you apply for a particular amount, we consider a variety of factors to determine how much we can lend you such as health for your company and the amount of the repayments your company can afford. The total amount of the loan will be determined by the specifics the company.
When you request one of our business financing, we’ll assess the risk profile that you have for your business and provide an individualised offer including the amount of loan, the term and the interest rates. The business loan is an upfront priced loan so you will be aware of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for company loans rates depend on several factors including the amount borrowed, the company assets the funds will be used for in addition to the industry that the business operates in, the long the business has been operating, whether the business has enough cash flow to support the loan, and general health and creditworthiness of the business.
There are no hidden fees with our company loans, and you’ll know precisely what you’ll need to pay, and when, from the first day. There’s not any compounding interest and no extra fees (as as long as you pay your payments punctually).
We do not charge an Application Fee. You are able to get a cash loan with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a 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 the entire amount of the loan at any point in time.
If you decide to do this please speak to our friendly company lending specialists. They’ll provide you with repayment details as well as an early payout amount. This is calculated as the total of the remaining principal amount and any accrued interest at the time of early payout plus 1.5% of the remaining principal and any fees that remain unpaid.
To ensure you do not miss payments and to work your cash flow cycle we provide payments that are either weekly or daily. They will be automatically deducted from your nominated business account.
Security of your data, and being clear about the ways we gather, use, exchange and protect your information, is crucial and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to security for our customers and security. We utilise a sophisticated bank verification system to instantly verify your bank account details online so we can provide a fast response.
The term "asset-based" refers to borrowing where a business owner uses assets they own to make a loan. The asset could be an individual property, such as the family home or it could be a business asset like a truck or piece of equipment.
The vast majority of banks, even the major banks, 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 means of securing new financing taking advantage of the value of what you already own.
For loans of up to $150K, it is not necessary to secure assets prior to the loan’s access, however we require a personal guarantee. need an individual guarantee. As long as you follow the terms of your loan (as stated in the loan contract) the security of assets is not required. For loans over $150,000 generally, you are able to get an individual ensure and security in the form the charge of assets.
