The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K company credit.
All that’s required for starting is your contact information (company name, your name, email address and phone), how much you’d like to borrow as well as your monthly income.
In the course of the process and before settlement we will require confirmation of your identity, but not before we can begin:
After we start in the process, for loans that exceed $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 ranging from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and funds may be in your account within 24 hours. Traditional company loans are based on an interest rate per annum together with additional fees and charges. The company loan is a loan that is priced upfront which means you know ahead of time the total amount to be paid, including the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost every business use, including managing cash flows, business remodels and marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To qualify for a loan in this amount the business needs to be in operation for at least 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used to fund almost any business reason, such as company improvements, purchasing equipment or inventory, as general working capital and so much more. The loan is not available for personal purposes.
Asset security is necessary to access funding over $150,000. This can be done as a result of an charge over assets, which could also include registration through the PPSR or filing as a caveat.
A personal or director’s ensure is a commitment to repay a loan which is generally based rather than stating the security of a specific asset. The person signing the ensure is personally accountable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR gives preference over private property granted according to the date the security interest that is registered.
Caveats are legal document that is filed to offer notice of a legal claim on a property.
If you’re applying for an enterprise loan of more than $250,000 we may be able to provide a preliminary pre-approval to help make the process. We might be able to apply for this without a credit verification and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial health checks. It’s not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you might receive could be based on different terms.
You can apply for a business loan if you:
The process for applying is fast and simple. Just complete the online application within a few minutes and an experienced business loan specialist will be in touch to guide you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Information on the application including credit consent as well as 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) We can usually offer an answer within an hour – as long as you apply within standard business times and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statement, we’ll provide the decision within 1 business day.
For Larger Business Loans ($100K and up) we might be in a position to provide the conditional pre-approval in about 6 hours. Once you have signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some agreements have been approved in just 24 hours.
The quickest way to apply would be to ensure you apply during normal business hours, and let us use the advance bank verification to instantly confirm your bank details online. If you choose to send us copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide a response in one hour – provided you submit your request at normal business hours and let us utilise the advanced bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements, we’ll be able to provide the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we might be able to provide the conditional pre-approval within six hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be faster depending on the specifics of each application. Some transactions have received approval within 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours. Also, allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you choose to send us copies of your bank statements, it may take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a certain amount we take into consideration a range of variables to determine how much we can lend you health for your company as well as the amount of the repayments your company can afford. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
If you apply for a particular amount, we will consider a number of factors to determine how much we can lend you such as health of the business and the extent of repayments that your business is able to afford. The amount you receive from the loan will be determined by the particulars for your business.
If you decide to make an application for the business financing, we will assess the risk assessment of your company and provide 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 which means you be aware of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for business loans rates differ based on various factors such as the amount that is borrowed, the business assets the funds are used to purchase as well as the field the company is in, how long the business has been in operation and what percentage of the business has sufficient cash flow to support the loan, as well as the overall health or financial standing of the company.
There aren’t any hidden costs for our company loans. You’ll be aware of the amount you’ll need to pay and when, from day one. There’s no compounding interest, and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You can apply for a loan no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay the entire amount of your loan in full at any time.
If you decide to take this route, please speak to our friendly company loans specialists. The specialists will offer you with the details of your repayment and an early payment figure. It will be calculated using the sum of the remaining principal amount plus any accrued interest as of the time of early payment, plus 1.5% of the principal remaining plus any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments that are either weekly or daily. They will be automatically deducted from your company account.
The security of your personal information, as well as making it clear the ways we gather data, process, exchange and safeguard your data, is crucial and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We make use of an advanced banking verification system to instantly verify your bank account information online, allowing us to offer rapid response.
The term "asset-based" refers to borrowing where a company owner utilises the assets they have to secure the loan. The asset can be an individual asset, such as the family home, or it could be a business property like a truck or piece of equipment.
The majority of banks, not just the big banks, tend to guarantee loans against assets. If you’re struggling to pay back the loan then your assets could be sold by the lender. In essence it is means of securing new funding using the worth of the asset you already have.
For loans up to $150K no asset security is required upfront to access the money However, we do require an individual guarantee. As long as you follow your loan commitments (as specified in your loan contract) the security of assets is not required. For loans of over $150K typically, you will need an individual ensure and security is provided in the form of the charge of assets.
