The requirements for getting an unsecured business loan in Upper Hutt of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Take a look at the guidelines for eligibility for our $100K-$500K company loans.
All that is needed to start is your contact information (company name, your name, email or phone number) as well as the amount you want 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:
Additionally after we get started in the process, for loans of more than $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Upper Hutt unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
The application to your Small Business Loan in under 10 minutes by phone. You will receive an instant response and the money could be available in just 24 hours. Traditional business loans are based on an annual rate of interest as well as other fees and charges. Our business loan is a cash-based loan therefore you’ll know ahead of time the total amount to be paid, including any fees, interest or charges. This is then divided into weekly or daily repayment figure.
A Small Business Loan can be used for virtually any company purpose including control of cash flow business remodeling, marketing for purchasing inventory or new equipment, or as 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 business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on the flow of cash.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size, your company needs to have been trading for at least 3 years and have an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A large company loan can be used for almost all business use, including business renovations, purchase of equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary to access funding over $150,000. This can be done by taking a charge over assets, and could include registering this in the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is generally in nature rather than specifying security over an asset. The person who is signing the guarantee is personally accountable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR allows the priority of personal property assigned in accordance with the date on which a security interest has been registered.
A caveat is a legal form of document to provide notice of a legal claim on a property.
When you’re applying for larger business loans that exceeds $250,000 it is possible to offer a preliminary pre-approval to help ease 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 process is based on a preliminary assessment which includes you answering a few financial health questions. It’s not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you are offered could be based on different conditions.
You can apply for an company loan if you:
The application process is quick and easy. Simply complete the online form in just a few minutes, and an experienced business expert in lending will be in touch to guide you.
To apply for up $100,000 you’ll need ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Information on the application including credit consent and 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, as well as interim current financial year financials as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) We can usually provide an answer within one hour, provided you apply in quality company times and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements we can provide an answer in as little as the span of one company day.
For Larger Business Loans ($100K and up) we may be in a position to provide you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval, however it could be faster based on the specifics of each application. Some offers have been approved in just 24 hours.
The fastest way would be to make sure you apply during normal company hours and allow us to use the modern bank verification to instantly confirm your bank details online. If you opt to upload copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K and up) we typically offer an answer within one hour – provided you apply within normal business times and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we’ll be able to provide an answer in as little as an business day.
For the Larger Business Loans ($100K and up) we could be in a position to offer the conditional pre-approval within 6 hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however this can be faster depending upon the circumstances for each application. Certain deals have been approved in just 24 hours.
The fastest method is to make sure you apply during standard business hours, and allow us to use our sophisticated bank verification link to instantly verify your bank information online. If you upload the copies of bank statements it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a particular amount, we will consider a number of elements to determine what is the well-being of your company and the extent of the repayments your company will be able to support. The total amount of your loan will depend on the specifics of your business.
If you apply for a certain amount, we take into consideration a variety of aspects to determine your health for your business and the amount of the repayments your business can support. The total amount of the loan will be determined by the particular circumstances that are unique to your business.
If you decide to request one of our company loan, we will assess the risk assessment the company and provide you with a tailored offer, including loan amount, term and the interest rates. This business loan is an upfront cost loan so you will be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for business loans rates differ based on various variables like the amount to be borrowed, the business assets the funds are used to purchase and the sector the company is in, how long the business is in operation for, how long the business has enough cash flow to fund the loan, and also the general health as well as creditworthiness company.
There are no hidden fees for our company loans. You’ll know exactly how much it is that you need to pay, and when, from the first day. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an Application Fee. You can get a cash loan without any upfront costs or obligation to proceed.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay all of your loan early at any time.
If you do decide to pursue this option, please call our helpful company lending specialists. The specialists will offer you with details on repayment and an early payment figure. This will be calculated as the sum of the principal remaining and accrued interest to the time of early payment and 1.5% of the remaining principal and any outstanding fees.
To help you avoid missing due dates and also to be in line your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from your nominated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and secure your information, is crucial and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to protecting the security of clients and privacy. We make use of an advanced bank verification system that allows you to immediately verify your bank account information online so we can offer a fast response.
Asset-based borrowing is when an business owner borrows from the assets they have to secure the funds for a loan. The asset may be an asset belonging to the personal, like the family home or a business property like a truck or piece or equipment.
The vast majority of banks, not just the big banks, tend to secure loans against assets. If you’re struggling to pay back the loan, then the asset could be taken over by the lender. In essence it’s the process of securing new financing using the worth of the asset you already have.
For loans of up to $150K, it is not necessary to secure assets in advance to gain access to the funds, however we do need an individual guarantee. So long as you comply with the terms of your loan (as specified in your loan contract) Asset security is not required. For loans over $150,000 generally, there is a personal guarantee and security in the form of a charge over assets.
