The requirements for getting an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you need more money? Find out the guidelines for eligibility for our $100K-$500K business loan.
All that’s needed to get started is your contact details (company name, your name, email address and telephone), how much you want to borrow, and your monthly revenue.
Through the process and before settlement we will require confirmation of who you are but not before we can begin:
Additionally after we get started, for loans of more than $150,000 you’ll require basic financial statements:
Let’s get started.
Auckland unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and funds may be in your account in 24 hours. Traditional business loans refer to an annual interest rate as well as other fees and charges. Our business loan is an upfront priced loan therefore you’ll be aware in advance of the total amount due, which includes any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
It is a Small Business Loan can be used for almost every business use, including the management of cash flow, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan of this size the company needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. Your company must belong to 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 continuous trading.
A larger business loan can be used for nearly any business purpose including business renovations, to purchase new equipment or inventory as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary to access funding over $150,000. This is in the form of a charge against assets, which could also include the registration of this with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is generally based rather than defining security over a particular asset. The person signing the ensure is personally liable if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR allows priority over personal property to be granted according to the date the security interest that is registered.
An affidavit is an official form of document to offer the public notice of a legal claim against a property.
If you’re requesting larger company loans of $250K or more we may be able to provide an initial pre-approval to smooth out the process. It is possible to get this done without a credit verification and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes the answer to a series of financial health checks. It is in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you may receive may be based on different terms.
You are eligible to apply for an business loan if you
The application process is fast and easy. Just fill out the online application within a couple minutes, and a dedicated company credit specialist will call you to help you.
To be eligible for up to $100,000, you’ll require proof of identity (valid Driver’s License) and an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent and 12 months of bank records, IRD statements as well as the two most recent years’ financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour if you make your application within standard business time and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll offer the decision in just one company day.
For Larger Business Loans ($100K or more) we might be likely to provide the conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Certain agreements have been approved in 24 hours.
The fastest way is to make sure you apply during normal company hours. You can also allow us to use the advanced bank verification system link to confirm your bank details online. If you opt to send us the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer within one hour, provided you apply at standard business time and allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statement, we’ll provide an answer in just 1 business day.
If you are applying for Larger Business Loans ($100K or more) We may be able to provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The fastest method would be to ensure you apply during standard business hours and let us use the advanced bank verification system link to confirm your bank details online. If you decide to send us copies of your bank statements, it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount we look at a variety of elements in order to assess what is the health for your company and the amount of payments your company is able to afford. The total amount of your loan will be contingent on the particular circumstances of your company.
When you make an application for a specific amount we look at a range of elements to assess how much we can lend you such as well-being of your business and the level of payments your business is able to afford. The amount you receive from the loan will be determined by the specifics of your company.
If you decide to make an application for one of our business loan, we’ll assess the risk profile that you have for your business and offer you with a tailored offer, including the loan amount, the terms and interest rates. A company loan is an upfront cost loan so you will know the exact amount payable including any charges, interest rates or fees.
Interest rates for company loans rates differ based on various variables like the amount to be borrowed, what business assets the money will be used for as well as the field the company is in, how long the business has been running for, whether the company has sufficient cash flow to pay for the loan, as well as the overall health as well as creditworthiness company.
There aren’t any hidden charges for our business loans, and you’ll know precisely what it is that you need to pay and when, starting from the first day. There’s no compounding and there are no additional charges (as as you make your payments on time).
We do not charge an application fee. You are able to request a credit loan with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with 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 percentage of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you choose to do this please talk to one of our helpful company loan specialists. They will provide you with details for repayment and an early payment figure. It will be calculated using the sum of the principal remaining and any accrued interest at the date of early payout and 1.5% of the principal remaining and any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and being upfront about how we collect the information we collect, use, share and ensure the security of your information is of huge importance and a vital part of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We employ an exceptionally sophisticated bank verification system to immediately verify your bank account information online to offer rapid response.
The term "asset-based" refers to borrowing where the company owner makes use of the assets they have to obtain the funds for a loan. The asset could be an individual asset, such as the family home or it could be a company asset like a truck as well as a piece of machine.
The majority of lenders, not just the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan then the asset might be sold by the lender. In essence, it is means of securing new financing taking advantage of the value of what you already have.
For loans of up to $150,000, the requirement for asset security is not required upfront to access the money however, we require a personal guarantee. need a personal guarantee. So long as you comply with your loan commitments (as detailed in your loan contract), asset security is not needed. If you take out loans in excess of $150K generally there is personal guarantee and security in the form a charge over assets.
