The eligibility requirements for an unsecured business loan in Lower Hutt of between $5K and $100K are pretty minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K business financing.
All that’s needed to start is your contact information (the name of your company, your name, email, phone) and the amount you want to borrow, and your monthly income.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
In addition, once we have started, for loans that exceed $150,000, you’ll require fundamental financial statements:
Let’s get started now.
Lower Hutt unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes online or over the phone, receive an instant response and have the funds in your account in 24 hours. Traditional company loans refer to an interest rate per annum as well as other fees and charges. Our company loan is an upfront priced loan therefore you’ll be aware of the total amount payable including any interest, fees or charges. This is then broken down into either weekly or daily amount to be paid back.
It is a Small Business Loan can be used for nearly any business purpose including control of cash flow company remodels and marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount the business needs to be trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan is a great option for almost any company reason, such as company remodeling, buying inventory or new equipment or as general working capital, and much more. The loan is not available for personal use.
Asset security is required for accessing funds over $150,000. This is as a result of an charge on assets, which could also include registration with the PPSR or registering as a caveat.
A director’s or personal ensure is a guarantee to pay back a loan that is generally based rather than stating security over an asset. The person who signs the ensure is personally responsible if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR allows priority over personal property to be granted according to the date a security interest that is registered.
An affidavit is an official document filed to provide the public notice of a legal claim on a property.
If you’re seeking an enterprise loan of $250,000 or more we may be able to provide an initial pre-approval that will help smooth out the process. It is possible to get this done without a credit check and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial health checks. It is in no way an offer, nor is it a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you receive could be based on different terms.
You can apply for a business loan if you
The process for applying is fast and simple. Just complete the online application within a few minutes and a dedicated business expert in lending will be in touch to guide you.
For a loan of up to $100,000, you’ll need the right identification documents (valid Driver’s License) as well as a valid NZBN/IRD as well as at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Information on the application including credit consent as well as 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we typically offer an answer within an hour, provided you make your application at quality business times and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements , we will be able to provide a decision within just one business day.
For the Larger Business Loan ($100K and up) we may be likely to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved within 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours, and allow us to use the advanced bank verification system link to check your bank’s information online. If you upload copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within one hour – as long as you apply during standard business time and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your banking statements, we will be able to offer the decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we could be in a position to provide the conditional pre-approval within about six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this can be faster depending on the particular circumstances of each application. Some transactions have received approval within the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you opt to upload the copies of bank statements, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of factors for determining what is the well-being of your business and the extent of payments your business can afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your company.
When you submit an application for a particular amount, we consider a variety of factors to assess how much we can lend you such as health that is your business as well as the amount of payments your business can support. The amount you receive from the loan will be determined by the specific circumstances of your business.
If you decide to request our business loan, we will assess the risk assessment of your company and provide an individualised offer that includes the amount of the loan, the duration and the interest rates. This company loan is an upfront-priced loan so you will be aware in advance of the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on a variety of factors including the amount of money borrowed, the company assets the funds will be used for and the sector the business operates in, the long the company has been running as well as what percentage of the business has sufficient cash flow to pay for the loan, and overall well-being or creditworthiness of the company.
There aren’t any hidden costs for our company loans. You’ll know precisely how much you be required to pay and at what time, from the day you sign up. There’s no compounding interest, and no extra fees (as long as you are able to make your payments punctually).
We do not charge an application fee. You can apply for a loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of 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 loan.
You can decide to repay the entire amount of your loan early at any time.
If you choose to pursue this option, please talk to one of our helpful business lending specialists. They’ll offer you with details for repayment and an early payment figure. This is calculated as the sum of the principal amount remaining plus any accrued interest as of the time of early payment plus 1.5% of the principal amount remaining and any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your designated company account.
Security of your data, and knowing the ways we gather the information we collect, use, share and safeguard your data, is crucial and is an essential aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to customer security and security. We use an advanced bank verification system that allows you to immediately verify the bank account details online so we can provide rapid response.
Asset-based borrowing is when the company owner borrows from an asset they own to get the funding. The asset can be an individual asset, such as the family home, or an company property like a truck or piece or equipment.
The vast majority of lending institutions, even the major banks, prefer to guarantee loans against an asset. If you’re having trouble paying back the loan, the asset could be offered for sale by the lender. In essence it is the process of securing new financing using the worth of the asset you already own.
For loans up to $150,000 there is no requirement for asset security in advance to gain access to the funds however, we do require the personal guarantee. As long as you follow your loan commitments (as specified in your loan contract document) Asset security will never be required. For loans of over $150K generally, there is a personal ensure and security that is in the form charges on assets.
