The criteria for eligibility for an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Need more funds? Find out the eligibility requirements for our $100K to $500K company loans.
All that’s needed for starting is your contact information (the name of your company and your name, as well as email, phone) along with the amount you’d like to borrow, and your monthly earnings.
While in the process and before settlement we’ll require confirmation of who you are however, not in order to begin:
Additionally after we get started with loans that exceed $150,000, you’ll also require 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.
The application for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an instant response and funds may be on your account within 24 hours. Traditional business loans are based on an interest rate per annum together with additional fees and charges. The company loan is a pre-paid loan which means you know in advance the total amount payable including any fees, interest or charges. Then, it is broken down into weekly or daily amount to be paid back.
The Small Business Loan can be used for almost every company need, such as managing cash flows, business improvements, advertising for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size the business needs to have been in operation for at least 3 years with an annual turnover of at least $700,000. The applicant must also 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 prove at minimum 12 months of continuous trading.
A large business loan can be used to fund almost any company need, including company improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary for funding of more than $150,000. It is usually as a result of an charge over assets and can include registering this in the PPSR or registering as a caveat.
A personal or director’s guarantee is a promise to repay credit that is general in nature, rather than stipulating the security of a specific asset. The person signing the guarantee is personally liable in the event that the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR gives preference over private property granted according to the date a security interest has been registered.
A caveat is a legal document lodged to provide notice of a legal claim against a property.
If you’re seeking the Larger Business Loan of $250,000 or more, we may offer an initial pre-approval that will help smooth out the process. We might be able to get this done without a credit check, and within six hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering some financial well-being checks. It is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to a full credit assessment and any offer you receive could have different terms.
You are eligible to apply for an business loan if you
The application process is fast and simple. Complete the online form in just a few minutes, and an experienced business lending specialist will contact you to guide you through the process.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s License) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide an answer within an hour, provided you apply during quality business times and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements , we are able to provide the decision in as little as the span of one business day.
For Larger Business Loans ($100K up to $500,000) we might be capable of provide you with conditional pre-approval in about 6 hours. After you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain offers have been approved within 24 hours.
The quickest method is to make sure you apply during standard business hours, and allow us to use our modern bank verification to check your bank’s information online. If you opt to upload copies of your bank statements , it will take a little longer.
For the Small Business Loan ($5K and up) we typically offer a response in one hour, provided you submit your request within normal business timings and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements, we are able to offer an answer within one business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of provide you with pre-approval conditional to your application within 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 faster depending upon the circumstances for each application. Certain offers have been approved in less than 24 hours.
The fastest way can be ensure you apply during standard business hours, and permit us to use the modern bank verification link to check your bank’s information online. If you decide to upload documents from your account statement, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a certain amount, we look at a variety of elements for determining the well-being of your business and the amount of the repayments your business is able to afford. The total amount of your loan will depend on the specifics the business.
When you submit an application for a set amount, we look at a range of variables to assess your well-being that is your company and the amount of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances of your company.
If you decide to make an application for one of our company loans, we’ll assess the risk assessment the company and provide you with a tailored proposal that includes loan amount, term and interest rates. It is a company loan is an upfront cost loan and you’ll be aware in advance of the total amount payable including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of variables like the amount to be borrowed, what company assets the money will be used for as well as the field the business is operating in, how long the business has been operating for, in the event that the business has enough cash flow to pay for the loan, and also the general health and creditworthiness of the company.
There are no hidden fees with our company loans. You’ll know exactly how much it is that you need to pay, and when, from the day you sign up. There’s no compounding interest and no extra fees (as long as you make your payments in time).
We don’t charge an Application Fee. You can get a cash loan with no cost upfront or commitment to apply.
The Origination Fee covers the costs associated with setting up and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can decide to repay the entire amount of your loan at any point in time.
If you decide to pursue this option, please talk to one of our helpful company lending professionals. They will offer you with details on repayment and an early payment figure. This is calculated as the total of the remaining principal amount and any accrued interest at the date of early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
To ensure you do not miss payments and to work with your cash flow routine, we provide repayments either weekly or daily. They will be automatically deducted from the nominated company account.
Security of your data, and making it clear the ways we gather, use, exchange and safeguard your data, is vital and is a crucial part of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and privacy. We utilise a sophisticated bank verification system to immediately verify the bank account details online to offer a fast response.
The term "asset-based" refers to borrowing where a business owner uses an asset that they own to make a loan. The asset can be an asset belonging to the personal, like the family home, or it could be a company asset such as a truck or piece or equipment.
The vast majority of the lenders even the largest banks, are inclined to make loans secured by assets. If you’re struggling to pay back the loan, then your asset may be offered for sale by the lender. In essence, it’s means of securing additional financing using the worth of the asset you already have.
For loans up to $150K no asset security is required before you can access the money but we require a personal guarantee. need an individual guarantee. If you adhere to your loan commitments (as detailed in your loan contract document), asset security will never be required. For loans that exceed $150K, generally there is an individual guarantee and security in the form of a charge over assets.
