Unsecured Business Loans Somerville NZ

By This Tomorrow You Could Have Everything You Need to Be Successful With a Somerville Business Loan

Unsecured Business Loans Somerville

A Somerville unsecured business loan is quick and simple to apply for. Request a quick approval and begin using the money in your company.

  • Are additional funds able to help your company by allowing you to work capital or in achieving the potential for growth?
  • How do you finance your company requirements?

What you can expect:

  • Simple process to apply and receive approval and the funds will be around as early as tomorrow
  • There is no option to remittances in the first four weeks
  • From $5k to $500K in loans
  • Terms from 3-36 months
  • Competitive interest rates
  • Minimal docs needed

The criteria for eligibility for an unsecured business loan for a business loan Somerville are fairly minimal.

Call Now 0800 030 430
An easy loan application process with a generous borrowing limit, minimal requirements for credit and no need to present a business plan. Do not use your personal credit card and business credit card to finance your company.
Unsecured Loans Made Simple
I am now able to make espresso for customers with the very best equipment.
Cafe Owner
I can now take vacation knowing that the Somerville company will run well.
Local Business Owner
I'm able get my tax back on time.
Small Business Owner
Business loans with interest rates and repayment conditions, and flexible repayment options that can be tailored to your business needs.
Business Lending Options
I'm now able fund the remodel of our brand fresh Somerville resturant without having draw cash from other locations.
Somerville Resturant Owner
I'm now able to hire an experienced marketer to help me increase the success of my company to the next level.
Growing Somerville Business
Business loans, in particular an unsecured business loan or line of credit to business financing need never be an difficult procedure. Business finance can be in the form in the form of small business loans at a fixed interest rates and repayment schedule that fits your company cash flow.
Business Lenders for Business Goals
Unsecured Business Loan Service Provider

Fast Approval Process

Requesting business loans in Somerville business loan in Somerville with us is simple and only takes less than a minute, with no long lines of paperwork or waiting in line.

Approved and receive cash within one to two company days.

Helping Business Owners Looking for an Unsecured Loan

People Choose Us Because We Get Results

We aim to help Somerville businesses of all types, whether small, medium or solopreneurs to access funds quickly so that they can take advantage of loans to build and expand their business.

  • It starts with an easy online application or phone call
  • Flexible repayment terms that can be tailored to your business
  • Fast funding within a day or two
  • A team wanting for you as well as your business to be successful
Simple eligibility checklist

Small Business Loan Eligibility Criteria

The requirements for getting an unsecured business loan in Somerville of between $5K and $100K are pretty minimal.

  • A minimum of six months in business
  • A minimum of $6,000 in revenue per month
  • You must be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Drivers Licence or Passport for identification proof
  • You should have a New Zealand bank as your primary account for trading
  • Bank statements from the previous six months

Are you looking for additional funding? Find out the eligibility requirements for our $100K to $500K company loan.

Here's How Other People Have Benefited

Examples of Business Loans

An interior designer saw an opportunity to grow their company and required working capital to finance this expansion. With a monthly revenue of $300K they borrowed $250K in 24 months. Turnaround time for them was just 2 days and all they needed for them to provide is 12 months' worth of Bank statements IRD confirmation, as well as trust deed.
Interior Designer
A business coach wanted to invest in an health and cosmetics company. With a little over 12K in revenue per month the company was able to borrow $24K over 24 months. This only required 12 months of bank statements and was done in only 8 hours.
Business Coach
The proprietor of a small grocery store that earned $70K per 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 turnaround time was only 6 hours from the time of application until receiving the money.
Grocery Store Small Business Loan
Acquiring a pizza shop and 2 liquor stores 6-12 months earlier, the new owners were seeking more funds. The overall revenue was $500K per month and they could have borrowed $300K, split out as $100K for each store, with the option of 24- and 36 month terms. There was no security on the owners' homes was required.
Owner of a Pizza Store & 2 Liquor Stores
With the busy Christmas time coming up, a store selling clothing required additional working capital to buy more stock and also benefit from discounts offered by suppliers. They took out a loan of $20K over a period of 12 months with no asset security required and had the funds in less than 24 hours.
Clothing Store
Simple eligibility checklist

Larger Somerville Business Loan Eligibility Criteria

The criteria for eligibility for loans from larger Somerville business loans of between $100K and $500K include:

  • A minimum of 3 years of business
  • A minimum of $700K annually in revenue
  • You must be a New Zealand based company with an New Zealand Business Number (NZBN)
  • Drivers Licence or Passport for evidence of identity
  • You should have an account with a New Zealand bank as your primary account for trading
  • Bank statements from the past six months
  • Some financial statements like Profit & Loss and Aged Accounts Payable and Receivable

Do you require a smaller amount of funds? Look over the eligibility requirements for our $5K to $100K Somerville unsecured business loans.

Business Lending for a Cash Injection

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

A Somerville unsecured loan is perfect to use for every business purpose. Contact us now.

  • Renovate or expand a commercial premises
  • Grow the team during busy periods
  • Increase stock levels to meet the demand
  • Create a new site or boost your marketing
  • Put money into the latest equipment, tools or new technologies
  • Buy extra stock to meet seasonal demand
  • Manage cash flow fluctuations
  • Plus lots more …

Do you want to start working on one of these projects as soon as tomorrow? Get in touch with us today or send an application online to get the fastest and most efficient process.

Quick application checklist

What do you need to apply

All that’s required to start is your contact information (company name and your name, as well as email and phone) and the amount you’d like to lend, and your monthly earnings.

While in the process and before settlement we will need confirmation of your identity, but not for starting:

  • Idenfication information (valid Driver’s License)
  • Business information including trading times as well as ownership information and NZBN (New Zealand Business Number)

After we start with loans over $150,000 you’ll also require basic financial statements.

  • Profit & Loss statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

Here's How Others Have Benefited

Examples of Business Loans

A plumber who has had business for three years and has 80K in monthly sales was looking for additional funding. They took out $153K on a 36 month term. All that was required were 12 months' worth of statements and confirmation of their status with IRD. The procedure was completed within just a few hours and the plumber got their extra working capital in ther account within a short time.
Plumber
When they purchased a pizza store and two liquor stores 6-12 months earlier the new owners needed additional funds. The combined revenue was over $500K per month . The owners were able to borrow $300K, split out as $100K per store on the option of 24- and 36 months. No security over the owner's homes was needed.
Owner of a Pizza Store & 2 Liquor Stores
A company coach was looking to invest in a well-being and cosmetics company. With just under $12K in monthly revenues they borrowed $24K in 24 months. This only required twelve months worth of statement and was completed in less than 8 hours.
Business Coach
An interior designer had noticed an opportunity to grow their company and needed working capital to finance this expansion. With monthly revenue of $300K they borrowed $250K over 24 months. Their turnaround time was only 2 days, and all they had for them to present was 12 months of bank statement, IRD confirmation, and trust deed.
Interior Designer
The owner of a small grocery store making $70K a month borrowed $76K over a 24-month term , without making any repayments for the first 4 weeks. The loan required 12 months of bank statements. The time to turn around was just six hours from the moment you applied to receiving the money.
Grocery Store Small Business Loan

Unsecured Business Loan Somerville NZ 2014

The lending landscape has changed

With banks and traditional lenders increasing their credit requirements as well as the continuous stream of alternative and non-bank loan providers that are entering the market provides a great resource for you to access.

Somerville SME’s are now able to access finance through alternate lenders servicing Somerville who are focused on facilitating company growth or smoothing out problems with cash flow. In the past, private credit options (drawing equity from the home loan, or by using credit cards, personal loans and overdrafts) provided the most viable alternative funding solutions for Somerville that were around.

There is now no need to depend on real estate to secure business credit. With an unsecured loan business financing is now easy. Instead of a loan for a term with a bank, business finance for a small business with interest rates and loan terms that can help with cash flow is around as business loan options.

 

 

High level summary

Separate personal and business debt

There are many benefits with separating personal and business debt.

  • Your home, or other investments, aren’t tethered in order to access funds
  • This business stands in better position to create its own, solid credit history
  • It’s substantially more seamless at tax time
  • Businesses can easily view, monitor and plan based on being able to easily determine their cash flow position

Reduce your risk, make tax time easier, get started with an unsecure business loan, apply today.

For those who like the detail

Separate personal and business debt

Risk

One major benefit of keeping your business and personal company assets separate is that your home does not have to be tied to the funds. If you’re looking for a small business loan in Somerville up to $100K, asset security will not be needed as long as the borrower fulfills their loan obligations.

Credit history

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

Tax

The separation of personal as well as company finances makes it more seamless with regards to tax time, particularly when determining what is the tax-deductible amount. The IRD has set out rules on the evidence required to claim deductions on an individual’s tax return. This is a subject that the IRD has specifically advised on.

Cash flow

A well-organised cash flow management system is crucial to the long-term success that of any business. By keeping your personal finances and company finances distinct, businesses can easily view how they are performing, monitor and plan on their ability to accurately assess their cash flow position.

Business business loans, interest rates and repayment terms and flexible repayment options to suit you business requirements.
Business Lending Options
A straightforward loan application process with a huge limit on borrowing, no requirements for credit, and no requirement to create a business plan. Stop using your personal credit card or business credit cards to finance your business.
Unsecured Loans Made Simple
I'm now able employ an experienced marketer to help me increase the success of my business to the next stage of business growth.
Growing Business
I'm able get my tax back on time.
Small Business Owner
I'm now able to finance the renovation of our fresh Somerville resturant without having to borrow cash from other restaurants.
Somerville Resturant Owner
Business loans, in particular an unsecured business loan or line of credit for business funding require have no difficult process. Business finance is in the form in the form of small business loans at an interest rates and repayment schedule that fits the needs of your company cash flow.
Business Lenders for Business Goals
I'm now able to prepare the coffee I serve my clients using the very best equipment.
Cafe Owner
I am now able to take an extended vacation knowing that it is safe knowing that Somerville company will run smoothly.
Local Business Owner
FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Details of The Somerville Small Business Loans

Let me know what you think of the Somerville Small Business Loans

Somerville unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.

What makes the Unsecured Loan different from a traditional company loan?

It is possible to apply for the Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and have the funds in your account within 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. We offer a business loan is a pre-paid loan therefore you’ll know in advance the total amount due, which includes any fees, charges or charges. Then, it is broken down into weekly or daily payment amount.

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

A Small Business Loan can be used to fulfill almost every business purpose including managing cash flows, company renovations, marketing to purchase inventory, new equipment, for general working capital and much more. The loan cannot be used for personal use.

About Larger Somerville Business Loans

What is the Larger Somerville Business Loan?

The Larger Business Loan is a larger loan size to support business 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 situation.

How’s the Origination Fee calculated?

It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.

Can I get the Larger Business Loan?

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

How can the funding be utilised?

A larger business loan can be used for almost every company need, including company renovations, to purchase inventory or new equipment for general working capital, and much more. The loan cannot be used for personal use.

Is the Larger Business Loan a secured loan?

Asset security is required to access funding over $150,000. This can be done in the form of a charge on assets, which could also be registered with the PPSR or registering a caveat.

A personal or director’s guarantee is a promise to pay back a loan that is generally based rather than defining the security for a particular asset. The person who is signing the ensure is personally liable in the event that the company borrower is unable to make the repayment.

The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR gives preference over private property granted according to the date a registration of a security interest.

Caveats are legal document that is filed to offer an official notice of a claim to property.

What is a pre-approval minus Credit Check?

If you’re applying for the Larger Business Loan of $250K or more, we may offer an initial pre-approval to make the process. We might be able to make this decision without a credit verification and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial well-being checks. It is neither an offer nor a guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you are offered could have different conditions.

Application process

Are I eligible for funding?

You can apply for an business loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are over the age of 18 and have a New Zealand company (with a valid NZBN/IRD)
  • you must demonstrate at minimum 6 months of business (for the unsecured loan $5K – $100K) or three years of trading (for the Larger Business Loan $100K or $500K)

How do I apply?

The process for applying is fast and easy. Just complete the online application within a couple minutes, and an experienced company lending specialist will contact you to guide you through the process.

To apply for up to $100,000, you’ll need ID details (valid Driver’s License), 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 also require:

$100K to $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Application details including credit consent as well as 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables reports.

What speed will I be able to get an answer?

For an unsecured loan ($5K to $100K) we can often provide an answer within an hour if you apply at standard company time and allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statement, we’ll provide a decision in as little as an business day.

For the Larger Business Loan ($100K up to $500,000) we could be likely to offer you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Some agreements have been approved in the space of 24 hours.

The most efficient method can be ensure you apply during standard company hours, and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload the copies of bank accounts, it may take a bit longer.

How fast will I get the cash?

For the Small Business Loan ($5K or more) we usually offer a response in one hour – provided you submit your request in normal business hours and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements we can provide a decision in just one business day.

For the Larger Business Loans ($100K or more) We may be able to provide you with pre-approval conditional to your application within 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain deals have been approved in the space of 24 hours.

The fastest way would be to make sure you apply during standard business hours. You can also permit us to use the advance bank verification to verify your bank account information online. If you decide to send us copies of your bank accounts, it may take a bit longer.

How much can I borrow?

We offer the loan amount between $5,000 and $500,000. When you submit an application for a certain amount, we consider a variety of factors for determining the well-being that is your business and the amount of the repayments your business is able to afford. The total amount of your loan will be contingent on the specific circumstances that are unique to your company.

When you submit an application for a certain amount, we will consider a number of variables to determine how much we can lend you such as health that is your company and the amount of repayments your business can afford. The amount you receive from your loan will be contingent on the particulars the company.

Fees & repayments

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

When you request the company loans, we’ll assess the risk profile the company and offer you with a customised offer including the loan amount, the terms and the interest rates. This company loan is a loan that is priced upfront so you will know the exact amount you will have to pay, including interest rates, fees or charges.

What is the basis for the rate I am charged?

The interest rates on company loans rates depend on several factors such as the amount that is that is borrowed, what business assets the funds are used to purchase in addition to the industry that the company operates in, how long the company has been in operation as well as whether the business has sufficient cash flow to support the loan, as well as the general health or creditworthiness of the business.

What are the charges?

There aren’t any hidden costs with our company loans, and you’ll know exactly how much it is that you need to pay, and when, starting from the first day. There’s no compounding and no extra fees (as long as you are able to make your payments on time).

We don’t charge an application fee. You can get a cash loan absolutely no upfront cost and no obligation to proceed.

The Origination Fee includes the expenses associated with establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.

Can I pay out the loan in advance?

You can choose to repay the total amount of your loan at any point in time.

If you do decide to take this route, please call our helpful business credit specialists. They’ll provide you with details on repayment as well as an early payout amount. The figure will be calculated as the total of the principal amount remaining plus any accrued interest as of the time of early payment in addition to 1.5 percent of the remaining principal plus any outstanding fees.

How do you make repayments work?

To ensure you do not miss due dates and also to be in line with your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your designated business account.

Security & privacy

Will my data be secure?

Making sure that your information is secure, and being clear about the ways we gather data, process, exchange and ensure the security of your information is of huge importance and is an essential part of our relationship with you.

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

Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We utilise a sophisticated banking verification system to instantly confirm your bank account information online so we can offer an immediate response.

About business loans

What exactly is an asset-based loan (a secured loan)?

Asset-based borrowing occurs when the business owner utilises assets they own to make the loan. The asset could be an individual asset, such as the family home, or a business asset like a truck as well as a piece of machine.

The majority of banks, including the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan then your assets could be taken over by the lender. In essence, it is an opportunity to secure additional financing making use of the value of what you already have.

Should I require security to secure an business loan?

For loans of up to $150K, the requirement for asset security is not required in advance to gain access to the funds, however we do need the personal guarantee. So long as you comply with the loan terms (as detailed in the loan contract), asset security will never be required. For loans of over $150K generally, you are able to get an individual guarantee and security is provided in the form of charges on assets.

Industries we currently aren't able to help with

  • Adult related industries
  • Auction websites and auction houses
  • Debt collection companies & debt purchasers
  • Direct marketers such as fundraising, telemarketing, mail order, direct-mail etc.
  • Financial lenders or institutions
  • {Firearm businesses
  • Foreign currency exchange services
  • Customs clearing houses and freight forwarding
  • Anything gambling related
  • Not-for-profit organisations, charities, churches etc
  • Panel beaters & smash repairers
  • Pawnbrokers or pawn shops
  • Property development
  • Investment business, shares and stockbrokers
  • Tattoo studios
  • Ridesharing and taxi services
  • Entertainment sales and ticket resellers
  • Vehicle towing services
  • Secondhand automotive companies
  • Automotive glass tintingfirms
  • Car dismantlers

While we aren’t able to help with an unsecured business loan in those industries, we might be able to assist by providing secured business loan.

Fast Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

Apply Now

Apply Now

Contact Us

Contact Us

Contact Us

Fill out the form below or Call Now
0800 030 430