The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Need more funds? Find out the guidelines for eligibility for our $100K to $500K business credit.
All you need to begin is your contact details (the name of your company, your name, email or phone number) and the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we’ll require confirmation of your identity, but not to get started:
Once we’ve started in the process, for loans of more than $150,000 you will also need basic financial statements:
Let’s get started now.
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, which are either daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes over the phone, receive an immediate response, and the money could be on your account within 24 hours. Traditional business loans have an annual interest rate plus other fees and charges. We offer a company loan is a pre-paid loan so you will be aware of the amount you will have to pay, including the interest, fees and charges. This is then divided into a daily or weekly repayment figure.
A Small Business Loan can be used to fulfill almost every business reason, such as control of cash flow company improvements, advertising to purchase inventory, 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 amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
To be eligible for a credit in this amount the company needs to be operating for at least three years with an annual turnover of $700,000. 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 demonstrate at the least 12 months of operating.
A larger business loan is a great option for almost any business purpose including business improvements, purchasing equipment or inventory as well as for general working capital, and much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. This is in the form of a charge over assets and can include the registration of this with the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally in nature rather than specifying security over an asset. The person signing the guarantee is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR allows priority over personal property to be assigned according to the date a security interest has been registered.
An affidavit is an official form of document to offer an official notice of a claim to property.
If you’re seeking a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval that will help make the process. We may be able to make this decision without a credit check, and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves answering a couple of financial health checks. It’s not an offer or guarantee of financing. Unconditional approval is subject to an extensive credit evaluation and any offer you may receive may have different conditions.
You may be eligible for a business loan if you:
The application process is simple and easy. Simply complete the online form in just a few minutes, and a dedicated company credit specialist will contact you to assist you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s License), an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Details for application including credit consent twelve months of bank records, IRD statements and the last two years’ finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we typically provide an answer within one hour – as long as you make your application during standard company hours and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements , we’ll be able to offer a decision within just the span of one business day.
For Larger Business Loans ($100K or more) we could be capable of provide you with a conditional pre-approval in about six hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval, however this can be quicker based on the particular circumstances of each application. Certain agreements have been approved within just 24 hours.
The quickest method for you to apply is ensure you apply during normal company hours. Also, permit us to use the advanced bank verification system to instantly verify your bank account information online. If you opt to upload documents from your account statements , it can take a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within one hour if you make your application in standard business timings and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements, we’ll be able to offer the decision in as little as an business day.
For Larger Business Loans ($100K and up) we could be in a position to offer you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based on the circumstances of each application. Some deals have been approved in less than 24 hours.
The most effective method for you to apply is ensure you apply during normal business hours. You can also allow us to use our advance bank verification to verify your bank account information online. If you upload documents from your account statements it can take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a particular amount, we take into consideration a range of variables for determining the well-being of your company as well as the amount of the repayments your business is able to afford. The total amount of your loan will be contingent on the particular circumstances the business.
When you submit an application for a set amount, we take into consideration a variety of aspects to assess your well-being for your company and the extent of repayments your company can support. The amount you receive from your loan will be contingent on the particulars for your business.
If you decide to make an application for one of our business credit, we’ll assess the risk assessment the company and provide an individualised proposal that includes the loan amount, the terms and interest rates. This company loan is an upfront cost loan and you’ll know the exact amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates depend on several factors including the amount borrowed, the business assets the funds are used to purchase and the sector the company operates in, the long the business has been in operation as well as how long the company has sufficient cash flow to pay for the loan, and the overall well-being or creditworthiness of the business.
There are no hidden costs with our company loans. You’ll know precisely how much you need to pay, and when, right from day one. There’s no compounding and there are no additional charges (as as you make your payments in time).
We do not charge an Application Fee. You are able to apply for a loan with no cost upfront or commitment to apply.
The Origination Fee covers the costs associated in establishing and managing 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 can decide to repay the entire amount of your loan at any point in time.
If you are deciding to take this route, please contact our helpful business loans specialists. They will provide you with details for repayment along with an early payout estimate. The figure will be calculated as the total of the principal balance and any accrued interest at the time of the early payout and 1.5 percent of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we provide repayments either daily or weekly. They are automatically deducted from the nominated company account.
Security of your data, and being clear about the ways we gather the information we collect, use, share and safeguard your data, is vital and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and security. We use an advanced bank verification system link to instantly verify the bank account details online, allowing us to provide an immediate response.
An asset-based loan is when a company owner utilises the assets they have to make the loan. The asset can be either an individual asset, such as the family home, or an company property like a truck as well as a piece of machine.
The majority of banks, even the major banks, prefer to secure 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’s a way of securing new financing by taking advantage of the value of what you already have.
For loans of up to $150,000, no asset security is required prior to the loan’s access but we require a personal guarantee. require the personal guarantee. So long as you comply with the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security is not required. If you take out loans in excess of $150K typically, you will need an individual ensure and security is provided in the form of the charge of assets.
