The eligibility requirements for an unsecured business loan in Auckland of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K business credit.
All you need for starting is your contact details (the name of your company, your name, email, phone) as well as 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, but not before we can begin:
Once we’ve started with loans over $150,000 you’ll also require the following financial statements:
Let’s get started now.
Auckland unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an answer within the same day and the money could be on your account within 24 hours. Traditional company loans reference an annual rate of interest as well as other fees and charges. Our business loan is a pre-paid loan therefore you’ll know ahead of time the amount you will have to pay, including any interest, fees or charges. Then, it is divided into weekly or daily payment amount.
The Small Business Loan can be used for nearly every company need, such as the management of cash flow, company renovations, marketing, to purchase inventory or new equipment, 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 over a fixed term for up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large the company needs to be in operation for at least 3 years and generate an annual revenue of $700K. Your business must belong to 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 to demonstrate at minimum 12 months of business.
A Business Loan of a larger size is a great option for almost every company purpose including business remodeling, buying new equipment or inventory, as general working capital and so much more. The loan is not available for personal purposes.
Asset security is necessary for funding of more than $150,000. This is in the form of a charge over assets, which could also include registration on the PPSR or registering as a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is general in nature rather than stating security over an asset. The person who signs the guarantee is personally responsible if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR gives preference over private property granted according to the date a security interest that is registered.
An affidavit is an official document filed to offer the legal claim to property.
If you’re applying for an enterprise loan of more than $250,000, we may offer a preliminary pre-approval to help make the process. We could be able to apply for this without a credit check and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial well-being questions. It is not an offer or guarantee of financing. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you may receive may be on different conditions.
You can apply for a company loan if you;
The application process is fast and easy. Just fill out the online application in few minutes and an experienced business credit specialist will contact you to assist you.
To apply for up to $100,000 you’ll require identification details (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Application details including credit consent and 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, in addition to interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer within an hour if you submit your request in standard business time and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your bank statements , we are able to provide an answer within just 1 business day.
If you are applying for a Larger Business Loan ($100K or more) we may be able to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Some offers have been approved within less than 24 hours.
The fastest way would be to make sure you apply during standard company hours. You can also allow us to use our advanced bank verification system link to instantly confirm your bank details online. If you opt to upload documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer in just one hour if you submit your request during normal business hours and permit us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements, we’ll be able to provide a decision in as little as an business day.
For the Larger Business Loans ($100K up to $500,000) We may be likely to provide you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based upon the circumstances for each application. Certain deals have been approved in the space of 24 hours.
The fastest method would be to make sure you apply during normal business hours and allow us to use our modern bank verification link to verify your bank information online. If you opt to send us duplicates of your banking statement, it takes a bit longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of factors for determining the health of the company and the amount of payments your company will be able to support. The total amount of your loan will depend on the particular circumstances the business.
When you submit an application for a specific amount we take into consideration a variety of factors to assess how much we can lend you such as health of your business and the extent of repayments that your business can afford. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
If you decide to apply for business loans with us business loan, we’ll assess the risk profile of your business and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. This business loan is an upfront priced loan so you will know the exact amount to be paid, including any charges or interest.
Business loan interest rates depend on several factors such as the amount that is borrowed, what company assets the money will be used for and the sector the company is in, how long the company has been running and in the event that the business has sufficient cash flow to support the loan, as well as the overall well-being or financial standing of the company.
There are no hidden costs for our business loans, and you’ll know exactly how much you’ll need to pay and when, right from the day you sign up. There’s no compounding and there are no additional charges (as as long as you pay your payments in time).
We do not charge an Application Fee. You can make an application for loans with no upfront cost or the obligation to take action.
The Origination Fee covers the costs associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can choose to repay the entire amount of your loan in full at any time.
If you choose to do this please talk to one of our helpful company lending specialists. We will offer you with details on repayment along with an early payout estimate. This is calculated as the total of the remaining principal amount plus any accrued interest as of the time of early payout plus 1.5% of the principal balance plus any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we offer repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
Protecting your information, and being clear about the ways we gather data, process, exchange and protect your information, is of paramount importance and a vital part of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to protecting the security of customers and security. We employ an exceptionally sophisticated bank verification system that allows you to instantly verify your bank account information online to offer an immediate response.
Asset-based borrowing occurs when a company owner borrows from an asset that they own to obtain the loan. The asset could be an individual asset, such as the family home or a business asset such as a vehicle or piece of equipment.
The vast majority of the lenders including the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan, then the asset might be transferred to the lender. In essence it’s a way of securing new financing making use of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security prior to the loan’s access However, we require a personal guarantee. need the personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract document) Asset security is not needed. For loans that exceed $150K, generally there is the option of a personal guarantee and security in the form a charge over assets.
