The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Do you require more money? Take a look at the conditions of eligibility for our $100K-$500K company financing.
All that’s needed to get started is your contact details (company name, your name, email address and phone), how much you’d like to lend, and your monthly income.
While in the process and before settlement we’ll need confirmation of who you are but not to get started:
Additionally after we get started, for loans that exceed $150,000, you’ll also require the following financial statements:
Let’s get started.
Auckland unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
Apply to this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and have the funds available in just 24 hours. Traditional company loans reference an annual rate of interest plus other fees and charges. Our company loan is a loan that is priced upfront and you’ll know ahead of time the total amount payable including any fees, charges or charges. This is then broken down into either weekly or daily repayment figure.
A Small Business Loan can be used to fulfill almost any business purpose including managing cash flows, business renovations, marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan in this amount the company needs to have been operating for at least three years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger company loan can be used for almost any company purpose including company renovations, purchase of new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. This is by taking a charge over assets, and may include the registration of this on the PPSR or registering as a caveat.
A personal or director’s ensure is a promise to pay back a loan that is generally in nature rather than stipulating security over an asset. The person who signs the guarantee is personally liable in the event that the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including items or assets). The PPSR allows the priority of personal property assigned according to the date the security interest that is registered.
A caveat is a legal form of document to provide the public notice of a legal claim to property.
If you’re requesting the Larger Business Loan that exceeds $250,000, we may offer an initial pre-approval to make the process. We might be able to get this done without a credit check and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering a few financial health checks. This is not an offer or guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you may receive may be on different conditions.
You can apply for a company loan if you
The application process is simple and simple. Simply complete the online form within a few minutes and a dedicated company loan specialist will contact you to guide you.
To be eligible for up to $100,000, you’ll require identification details (valid Driver’s Licence), an active NZBN/IRD, and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Application details including credit consent as well as 12 months of bank records, IRD statement and the last two years’ finalised financial statements, in addition to interim current financial year financials, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour, provided you apply at standard company hours and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statements , we’ll be able to provide the decision in just one business day.
For the Larger Business Loan ($100K and up) we may be likely to offer you with conditional pre-approval within about 6 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 upon the circumstances for each application. Some deals have been approved within less than 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard company hours, and allow us to use our advance bank verification link to instantly verify your bank account information online. If you opt to upload documents from your account statements , it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer within one hour, provided you apply during normal business times and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you decide to submit copies of your bank statement, we’ll offer a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we may be in a position to offer you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Certain transactions have received approval within less than 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours. You can also let us use the sophisticated bank verification to verify your bank information online. If you decide to send us duplicates of your banking statements it may take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of variables for determining how much we can lend you health for your company and the level of repayments your company will be able to support. The total amount of your loan will be contingent on the specific circumstances that are unique to your business.
If you apply for a particular amount, we consider a variety of aspects to assess the well-being of your business and the level of the repayments your business is able to afford. The total amount of your loan will be contingent on the specific circumstances the business.
If you decide to apply for the company financing, we will assess the risk profile the business and provide you with a tailored offer, including the loan amount, the terms and interest rates. This business loan is a loan that is priced upfront therefore you will know the exact amount to be paid, including any costs, fees, or interest rates.
The interest rates on business loans rates differ based on various factors like the amount of money borrowed, what business assets the funds are used to purchase in addition to the industry that the business operates in, the long the business has been running and whether the business has sufficient cash flow to fund the loan, and the overall health as well as creditworthiness company.
There are no hidden fees with our business loans, and you’ll know precisely how much it is that you be required to pay, and when, right from the day you sign up. There’s no compounding interest, and there are no additional charges (as long as you are able to make your payments punctually).
We don’t charge an application fee. You are able to get a cash loan with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back the entire amount of the loan early at any time.
If you decide to do this please call our helpful business loan professionals. We will offer you with the details of your repayment and an early payout figure. This is calculated as the total of the principal remaining and accrued interest to the time of early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
To make sure that you don’t miss repayments and to fit in your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your business account.
Making sure that your information is secure, and making it clear how we collect, use, exchange and ensure the security of your information is of paramount importance and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to customer security and security. We use an advanced bank verification system to instantly verify your bank account information online, allowing us to offer quick responses.
The term "asset-based" refers to borrowing where a business owner uses the assets they have to secure the funds for a loan. The asset may be an individual property, such as the family home, or an company asset such as a vehicle or piece of equipment.
The vast majority of the lenders not just the largest banks, are inclined to guarantee loans against assets. If you’re struggling to pay back the loan, then your assets could be taken over by the lender. In essence, it’s means of securing additional financing taking advantage of the value of what you already have.
For loans up to $150K it is not necessary to secure assets before you can access the money However, we do require an individual guarantee. So long as you comply with your loan obligations (as detailed in your loan contract) the security of assets will never be needed. For loans over $150,000 generally, there is an individual ensure and security in the form of the charge of assets.
