Unsecured Business Loans Korokoro NZ

By This Tomorrow You Could Be All Set For Success WithThe Help Of a Korokoro Business Loan

Unsecured Business Loans Korokoro

A Korokoro unsecured business loan is easy and quick to obtain. Apply for a loan quickly and use the money to grow your business.

  • Do you think that additional funds could help your company by allowing you to work capital or in achieving an opportunity to grow?
  • How are you financing your business requirements?

You can expect:

  • Simple process to apply to be approved and receive the funds will be available as early as tomorrow
  • There is no option to remittances in the initial four weeks
  • From $5k to $500K in loans
  • Terms ranging from three to thirty-six months
  • Competitive interest prices
  • Minimal docs needed

The eligibility requirements for an unsecured business loan to be made in Korokoro are fairly minimal.

Call Now 0800 030 430
Simple loan application procedure with a generous borrowing limit, minimal credit criteria and no requirement to provide a business plan. You no longer need to use your personal credit card or business credit card to fund your business.
Unsecured Loans Made Simple
I can now make the coffee I serve my clients with the best equipment.
Cafe Owner
I am now able to take an extended vacation knowing that my Korokoro company will run well.
Local Business Owner
I'm able get my tax back in order.
Small Business Owner
Business credit rates and repayment terms, as well as flexible repayment options to meet the needs of your business needs.
Business Lending Options
I am now able to fund the remodel of our brand modern Korokoro resturant without having to take cash from other resturants.
Korokoro Resturant Owner
I'm now able to hire an experienced marketer to help me help me take my business to the next level.
Growing Korokoro Business
Business loans, particularly an unsecured unsecured business loan or line of credit to business financing need have no stressful process. Business finance in the form of small business loans at a fixed interest rate and repayment schedule that will suit your company financial needs.
Business Lenders for Business Goals
Unsecured Business Loan Service Provider

Fast Approval Process

Making an application for the business financing in Korokoro with us is easy and takes just some minutes, without long lines of paperwork or waiting in line.

Be approved and receive your money within 1-2 company days.

Helping Business Owners Looking for an Unsecured Loan

People Choose Us Because We Get Results

We aim to help Korokoro companies of all types, whether small, medium or solopreneurs to access funding fast so they can make use of the loan to build and expand their business.

  • It begins with an easy online application or by phone
  • Flexible repayment terms that can be tailored to your business
  • Quick funding in a day or two days
  • A team that wants to see you succeed as well as you company to succeed
Simple eligibility checklist

Small Business Loan Eligibility Criteria

The criteria for eligibility for an unsecured business loan in Korokoro of between $5K and $100K is fairly low.

  • A minimum of six months in business
  • At least $6,000 revenue per month
  • Be a New Zealand based business with a New Zealand Business Number (NZBN)
  • Passport or Driver’s Licence for proof of identity
  • Make sure you have an account with a New Zealand bank as your main trading account
  • Bank statements for the last six months

Do you require more money? Take a look at the eligibility requirements for our $100K to $500K business credit.

Here's How Others Have Benefited

Examples of Business Loans

A designer for interiors had seen an opportunity to grow their business and required working capital to finance this expansion. With monthly revenue of $300K they borrowed $250K over the course of 24 months. Their turnaround time was only 2 days, and all they needed for them to present was 12 months of bank statement, IRD confirmation, and trust deed.
Interior Designer
A company coach was seeking to invest in the well-being as well as beauty business. With just under $12K in monthly revenue the company borrowed $24K over 24 months. The loan required twelve months worth of statements and was completed in less than 8 hours.
Business Coach
The owner of a small grocery store doing $70K a month borrowed $76K over a 24 month term , without making any repayments during the initial 4 weeks. This was contingent on 12 months of bank statements. Turnaround time was just 6 hours from submitting the application to receiving the funds.
Grocery Store Small Business Loan
Acquiring a pizza store and two liquor stores 6-12 months earlier the new owners were seeking additional cash. The combined revenue was over $500k per month. They could borrow $300K, split out as $100K for each store, with an option of both 24 and 36 month terms. No security over the owner's houses was needed.
Owner of a Pizza Store & 2 Liquor Stores
With the busy Christmas season coming up, a store selling clothing needed additional working capital to buy more inventory and benefit from a supplier discount. They took out a loan of $20K over a period of 12 months without security of assets required. They received the funds in 24 hours.
Clothing Store
Simple eligibility checklist

Larger Korokoro Business Loan Eligibility Criteria

The criteria to be eligible of loans from larger Korokoro company loans of between $100K and $500K consist of:

  • A minimum of 3 years of business
  • A minimum of $700K annually in income
  • You must be a New Zealand based company with an New Zealand Business Number (NZBN)
  • Passport or
  • Driver’s License to serve as identification proof
  • You should have an account at a New Zealand bank as your principal trading account
  • Bank statements for the last six months
  • Certain financial statements, such as Profit & Loss and Aged Accounts Payable and Receivable

Are you looking for a lower amount of capital? Look over the conditions for eligibility for our $5K-$100K Korokoro unsecured business loans.

Business Lending for a Cash Injection

What do you want to use the business loan in Korokoro for?

A Korokoro unsecured loan is great for nearly every company purpose. Talk to us today.

  • Renovate or expand a commercial premises
  • Staff expansion for busy periods
  • Increase stock levels to meet the demand
  • Make a brand new website or enhance your marketing
  • Put money into new tools, equipment or technology
  • Purchase additional stock to meet seasonal demand
  • Manage cash flow fluctuations
  • And many more …

Do you want to begin one of these projects as soon as tomorrow? Then get in touch with us today or send an application online to apply the fastest, most convenient way.

Quick application checklist

What do you need to apply

All that’s required to get started is your contact details (the name of your company, your name, email and telephone) as well as the amount you want to borrow, and your monthly income.

While in the process and before settlement we’ll need confirmation of who you are however, not in order to begin:

  • Idenfication information (valid Driver’s License)
  • Business details including trading time, ownership details , and NZBN (New Zealand Business Number)

Additionally after we get started in the process, for loans over $150,000 you’ll also need fundamental financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started.

 

Here's How Others Have Benefited

Examples of Business Loans

A plumber who has worked in the business for three years with $80K in monthly sales was looking for more funding. They were able to borrow $153K over 36 months. All they needed to be provided was 12 month bank statement and confirmation from the IRD. The procedure was completed within a day and the plumber had their extra working capital in their account soon afterward.
Plumber
After purchasing a pizza place and two liquor stores 6-12 months earlier the new owners were looking for more funds. The overall revenue was $500K per month and they were able to obtain $300K and split it into $100K for each store, with a mix of 24 and 36 months. No security over the owners homes was needed.
Owner of a Pizza Store & 2 Liquor Stores
A company coach was seeking to invest in the health and cosmetics company. With just over twelve thousand dollars in monthly income the company borrowed $24K over 24 months. This only required the submission of 12 months' bank statements and was done in only 8 hours.
Business Coach
An interior designer saw an opportunity to grow their company and needed working capital in order to finance this expansion. With monthly revenue of $300K they took out a loan of $250K for 24 months. The turnaround time was only two days and all they needed to provide the required documents were twelve months' bank statements, IRD confirmation, and trust deed.
Interior Designer
The proprietor of a small grocery store doing $70K a month borrowed $76K over a 24-month term , without making any repayments for the first four weeks. This required 12 months of bank statements. The turn around time was 6 hours from the moment you applied to receiving the money.
Grocery Store Small Business Loan

Unsecured Business Loan Korokoro NZ 5012

The lending landscape has changed

With traditional lenders and banks tightening their credit terms, the steady stream of alternative and non-bank loan providers that are entering the market provides a great resource for you to tap into.

Korokoro SME’s are now able to access finance through other lenders in Korokoro who are focused on enabling business growth or smoothing out cash flow issues. The past was when individual credit providers (drawing equity from the home loan, or by using credit cards in addition to personal loans and the overdraft) were the only alternative financing services available in Korokoro that were available.

There’s there is no requirement to depend on real estate to secure business loan. With an unsecured loan, business financing is now easy. Instead of a traditional term loan from banks, business finance for an SME with interest rates and loan terms that can help with cash flow are around as business loans.

 

 

High level summary

Separate personal and business debt

There are numerous benefits by separating personal and company debt.

  • Your home or other investmentsaren’t tied to allow access to funds
  • It is the company has a much better position to create its own, solid credit history
  • It’s substantially more straightforward when it comes to tax time
  • Companies can quickly view the situation, track and plan based on being able to clearly assess their cash flow position

Lower your risks, make your tax time more simple, apply for an unsecure busines loan, apply today.

For those who like the detail

Separate personal and business debt

Risk

One big drawcard for keeping your personal and business assets apart is that your house isn’t necessarily tied up for access to the money. If you’re looking for a small business loan within Korokoro up to $100K the security of assets won’t be required as long as the borrower fulfills their loan obligations.

Credit history

Companies are in a favourable long-term position if they have a good credit or debt ability to service.

Tax

Separating personal and company finances makes it more straightforward when it comes to tax time, particularly when identifying what is the tax-deductible amount. The IRD has outlined the guidelines on the proof required to claim deductions on an individual’s tax return. This is an area where the IRD have specifically advised on.

Cash flow

Effective cash flow management is crucial to the long-term survival for any business. Through keeping personal and company finances separate, companies can easily view their cash flow, plan and monitor it based on the ability to clearly examine their cash flow.

Business loan interest rates and repayment conditions, and flexible repayment options to fit what your company needs.
Business Lending Options
A seamless loan application process with a large amount of borrowing capacity, a low credit criteria and no requirement to create a business plan. Don't use your personal credit card or company credit cards as a way to fund your business.
Unsecured Loans Made Simple
I'm now able employ a marketer to take my company to the next stage of business growth.
Growing Business
I'm able to get my tax back on track.
Small Business Owner
I'm now able fund the renovation of our modern Korokoro resturant without having to take cash from other resturants.
Korokoro Resturant Owner
Business loans, especially an unsecured business loan or line of credit for business financing need to not become a tense process. Business finance can be in the form in the form of small business loans at an interest rate cost, and with a repayment schedule that will suit the needs of your business cash flow.
Business Lenders for Business Goals
I'm now able make espresso for clients with the best equipment.
Cafe Owner
I'm now able take time off knowing that I am confident that my Korokoro company will run smoothly.
Local Business Owner
FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Information About The Korokoro Small Business Loans

Tell me how you are able to avail the Korokoro Small Business Loans

Korokoro unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.

What is the Unsecured Loan different from an traditional business loan?

Apply to your Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the funds could be available in just 24 hours. Traditional business loans have an annual interest rate along with other charges and fees. The company loan is an upfront priced loan which means you know ahead of time the total amount due, which includes the interest, fees and charges. This is then broken down into either weekly or daily amount to be paid back.

What could you use the Small Business Loan be used for?

A Small Business Loan can be used for almost every business reason, such as control of cash flow business remodeling, marketing to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used to fund personal expenses.

About larger Korokoro Business Loans

What is the Larger Korokoro Business Loan?

The Larger Business Loan is a larger size loan to aid in company expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly depending on your situation.

How is the Origination Fee determined?

It is crucial to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.

Am I eligible for the Larger Business Loan?

In order to be eligible for a loan in this amount the company needs to have been trading for at least 3 years, and have an annual income of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.

How can the funding be used for?

A large company loan can be used to fund almost any company use, including company renovations, purchase of new equipment or inventory for general working capital and much more. The loan is not available for personal purposes.

Is the Larger Business Loan a secured loan?

Asset security is required to obtain funding above $150,000. It is usually as a result of an charge against assets, and could include the registration of this with the PPSR or registering as a caveat.

A director’s or personal ensure is a promise to pay off a credit line that is generally based rather than specifying 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 an online central register operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including items or assets). The PPSR allows priority over personal property to be assigned depending on the date that a security interest has been registered.

Caveats are legal document lodged to offer an official notice of a claim on a property.

What is a pre-approval that does not require Credit Check?

If you’re requesting a Larger Business Loan of more than $250K it’s possible to offer an initial pre-approval in order to make the process. We may be able to make this decision without a credit check and within six hours of your initial application. The pre-approval is based upon an initial assessment that includes the answer to a series of financial well-being questions. It is neither an offer nor a guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you may receive may have different terms.

The application process

Are I eligible for funding?

You can apply for a company loan if you;

  • are a New Zealand Citizen (or Permanent Resident)
  • are at least 18 years old, own a New Zealand business (with a valid NZBN/IRD)
  • must show at least six months of trading (for for the unsecured loan $5K – $100K) or 3 years of trading (for the Larger Business Loan $100K up to $500K)

How do I apply?

The application process is quick and easy. Complete the online form in just a few minutes, and a dedicated company lending specialist will be in touch to guide you through the process.

To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months worth of bank statements.

If you’re looking for loans with larger sizes, you’ll require:

$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details of 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 from the current financial year such as age-related payables and aged Receivables summary.

What speed will I be able to get a decision?

For an unsecured loan ($5K up to $100,000) we can often offer an answer within an hour, provided you make your application at quality company timings and allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statement, we’ll provide an answer in just one company day.

For the Larger Business Loan ($100K to $500K) we might be in a position to offer you with conditional pre-approval within about six hours. After you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.

The fastest way would be to ensure you apply during standard business hours and allow us to use the advance bank verification link to check your bank’s information online. If you choose to send us the copies of bank statements , it can take a bit longer.

How soon will I receive the cash?

For the Small Business Loan ($5K up to $100,000) we can often provide an answer within one hour – as long as you make your application at standard business time and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements, we are able to offer an answer in just one business day.

If you are applying for Larger Business Loans ($100K or more) we may be capable of offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending upon the circumstances for each application. Some deals have been approved in less than 24 hours.

The most effective method is to ensure you apply during standard business hours. Also, allow us to use our modern bank verification to check your bank’s information online. If you upload duplicates of your banking accounts, it can take a bit longer.

How much can I borrow?

We provide loans ranging from $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of aspects in order to assess what is the well-being of your company and the amount of payments your company can afford. The total amount of your loan will be contingent on the specifics that are unique to your business.

If you apply for a set amount, we will consider a number of variables to determine the well-being of your business as well as the amount of repayments your company is able to afford. The total amount of your loan will be determined by the specifics for your business.

Fees & repayments

How much do you charge for the cost of a business loan?

When you request our business loans, we will assess the risk profile the company and provide you with a customised proposal that includes the amount of loan, the term and interest rates. It is a business loan is an upfront cost loan and you’ll be aware in advance of the total amount to be paid, including any costs, fees, or interest rates.

What determines the amount I’m charged?

Business loan interest rates depend on a variety of factors including the amount that is borrowed, what business assets the money will be used for as well as the field the company is in, how long the business is in operation, what percentage of the company has sufficient cash flow to pay for the loan, as well as the overall well-being or creditworthiness of the company.

What are the charges?

There aren’t any hidden charges for our company loans. You’ll know precisely how much you need to pay, and when, right from the very first day. There’s no compounding interest, and there are no additional charges (as as long as you pay your payments in time).

We don’t charge an Application Fee. You are able to apply for a loan absolutely no upfront cost and no obligation to proceed.

The Origination Fee covers the costs associated with establishing and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the loan amount.

Can I pay off the loan earlier?

You may choose to pay back the entire amount of your loan at any point in time.

If you do decide to take this route, please call our helpful company loans specialists. They’ll offer you with details on repayment and an early payment figure. It will be calculated using the sum of the principal amount remaining plus any accrued interest as of the time of the early payout and 1.5% of the principal balance and any outstanding fees.

How do repayments work?

To ensure you do not miss repayments and to fit in your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from your business account.

Security & privacy

Will my information be secure?

Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as protect your information, is vital and a vital aspect of our relationship with you.

Is it safe to link my bank account to the platform?

Yes. We make use of industry-standard encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to customer security and privacy. We use an advanced banking verification system to instantly verify your bank account details online. This allows us to offer a fast response.

About business loans

What is asset-based borrowing (a secured loan)?

An asset-based loan is when an business owner borrows from an asset they own to get a loan. The asset may be an individual asset, such as the family home, or a company asset such as a vehicle as well as a piece of machine.

The majority of banks, even the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan, the asset could be offered for sale by the lender. In essence it’s the process of securing new funding using the worth of the asset you already own.

Should I need security for a business loan?

For loans up to $150,000 no asset security is required upfront to access the money however, we require a personal guarantee. require the personal guarantee. As long as you follow your loan obligations (as stipulated in your loan contract), asset security is not required. For loans that exceed $150,000, generally, there is a personal guarantee and security in the form charges on assets.

Industries we currently aren't able to help with

  • Anything adult industry related
  • Auction houses & auction websites
  • Debt collection firms & debt purchasers
  • Direct marketers such as fundraising, telemarketing, mail order, direct-mail etc
  • Financial institutions and lenders
  • {Firearm dealers
  • Foreign currency exchange services
  • Customs clearing houses & freight forwarding
  • Business involved with gambling
  • Not-for-profit organisations such as charities and churches etc
  • Smash repairers & panel beaters
  • Pawnbrokers or pawn shops
  • Property developers
  • Stockbrokers, shares orinvesment businesses
  • Tattoo studios
  • Ride-sharing or taxi services
  • Ticket resellers or entertainment sales
  • Vehicle towing services
  • Used automotive dealers
  • Car glass tintingservices
  • Automotive wrecking yards

Although we can’t help with an unsecured business loan in the above industries, we might be able to assist by providing a secured business loan.

Fast Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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0800 030 430