The requirements for obtaining 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 to $500K business financing.
All you need for starting is your contact details (company name, your name, email and phone), how much you’d like to borrow and your monthly revenue.
In the course of the process and before settlement we will need confirmation of who you are, but not before we can begin:
After we start in the process, for loans over $150,000 you will also need basic financial statements.
Let’s get started.
Auckland unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
You can apply to get the Small Business Loan in under 10 minutes on the internet or over the phone, receive a same day response and the money could be available in just 24 hours. Traditional business loans reference an interest rate per annum together with additional fees and charges. Our business loan is an upfront priced loan and you’ll be aware in advance of the total amount to be paid, including the interest, fees and charges. This is then broken down into either weekly or daily installment amount.
A Small Business Loan can be used for almost any business need, such as the management of cash flow, company remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
To be eligible for a credit that is this large the company needs to have been operating for a minimum of 3 years and generate an annual revenue of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large company loan is a great option for almost every company need, including business remodeling, buying inventory or new equipment as well as for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. This can be done by way of charge on assets and can include registration in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is general in nature, rather than stipulating the security of a specific asset. The person who signs the ensure is personally liable in the event that the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR allows preference over private property assigned according to the date the security interest has been registered.
A caveat is a legal form of document to provide notice of a legal claim on a property.
If you’re requesting a Larger Business Loan that exceeds $250,000 we can offer an initial pre-approval in order to smooth out the process. We may be able to do this without a credit check, and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial well-being checks. This is in no way an offer, nor is it a guarantee of finance. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you may receive may be based on different conditions.
You may apply for an company loan if you;
The application process is fast and simple. Just fill out the online application in just a few minutes, and a dedicated business loan specialist will be in touch to assist you.
To apply for up $100,000, you’ll require ID details (valid Driver’s License) as well as a valid NZBN/IRD and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically provide an answer in just one hour, provided you submit your request within standard business timings and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements we can offer a decision in just the span of one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we could be in a position to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval, however this can be quicker based on the specifics of each application. Some agreements have been approved in 24 hours.
The quickest way to apply for you to apply is ensure you apply during standard business hours, and permit us to use the advanced bank verification system link to check your bank’s information online. If you opt to upload the copies of bank statements , it takes a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour – as long as you submit your request at normal business time and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statements, we will be able to offer the decision within one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be likely to offer the conditional pre-approval in about 6 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 agreements have been approved in just 24 hours.
The quickest method is to make sure you apply during normal business hours, and allow us to use our modern bank verification to instantly confirm your bank details online. If you upload documents from your account statements it takes a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of factors that determine the health of the company as well as the amount of repayments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances of your company.
When you make an application for a specific amount we consider a variety of factors to determine the well-being of your company and the amount of repayments your business can support. The amount you receive from your loan will be contingent on the particulars that are unique to your business.
If you decide to request our business loan, we’ll assess the risk profile for your business and provide an individualised offer that includes loan amount, term and the interest rates. It is a company loan is an upfront-priced loan and you’ll be aware in advance of the total amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates differ based on various variables like the amount to be that is borrowed, what company assets the funds will be used for as well as the field the business is operating in, how long the business has been running and whether the business has enough cash flow to cover the loan, and also the general health as well as creditworthiness business.
There are no hidden costs for our business loans. You’ll know precisely how much you need to pay, and when, starting from day one. There’s no compounding interest, and no extra fees (as long as you are able to make your payments in time).
We do not charge an application fee. You can request a credit loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the entire amount of your loan early at any time.
If you do decide to pursue this option, please talk to one of our helpful company lending specialists. They will provide you with the details of your repayment and an early payout figure. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payout in addition to 1.5% of the principal amount remaining and any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow schedule, we offer repayments that are either daily or weekly. They are automatically deducted from your company account.
The security of your personal information, as well as knowing the ways we gather the information we collect, use, share and ensure the security of your information is crucial and a vital element of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We utilise a sophisticated bank verification system that allows you to immediately confirm your bank account information online to provide rapid response.
Asset-based borrowing is when an business owner utilises the assets they have to make the funding. The asset may be an asset belonging to the personal, like the family home or a company asset such as a vehicle or piece or equipment.
The vast majority of the lenders even the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan, then the asset could be sold by the lender. In essence it is a way of securing new financing by making use of the value of what you already own.
For loans up to $150,000 no asset security is required before you can access the money however, we do need an individual guarantee. If you adhere to the terms of your loan (as stipulated in your loan contract) the security of assets will never be needed. For loans that exceed $150K, generally, you can get the option of a personal guarantee and security in the form of a charge over assets.
