The criteria for eligibility for an unsecured business loan in Auckland of between $5K and $100K are fairly minimal.
Do you require more money? Review the guidelines for eligibility for our $100K-$500K company financing.
All that’s needed to get started is your contact details (the name of your company, your name, email and phone) and the amount you want to borrow, and your monthly earnings.
During the process and before settlement we will require confirmation of who you are, but not to get started:
Additionally after we get started in the process, for loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started now.
Auckland unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and funds may be available in just 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. This company loan is an upfront priced loan and you’ll be aware of the total amount payable including any fees, interest or charges. This is then divided into weekly or daily repayment figure.
A Small Business Loan can be used to fulfill almost any business purpose including managing cash flows, company remodeling, 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 business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly depending on you cashflow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
In order to be eligible for a loan that is this large the business needs to have been in operation for at least 3 years with an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A large business loan can be used for almost any company use, including company remodeling, buying inventory or new equipment or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is necessary for funding of more than $150,000. This is by way of charge against assets, and may include registering this through the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally based rather than specifying the security for a particular asset. The person signing the guarantee is personally responsible if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including the assets or goods). The PPSR grants priority over personal property to be granted in accordance with the date on which a security interest has been registered.
An affidavit is an official document filed to provide the legal claim to a property.
When you’re applying for an enterprise loan of more than $250,000 we may be able to provide an initial pre-approval that will help ease the process. We might be able to apply for this without a credit check and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial health checks. It is not an offer of credit or guarantee of credit. A conditional approval is subject a full credit assessment and any offer you may receive may be subject to different conditions.
You can apply for an company loan if you:
The application process is fast and simple. Complete the online form within a couple minutes, and a dedicated business loan specialist will call you to guide you through the process.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent twelve month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer within one hour – as long as you apply at quality company hours and let us use the advanced bank verification system link to immediately verify your bank account information online. If you want to submit copies of your bank statement, we’ll provide the decision in as little as the span of one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be capable of offer the conditional pre-approval within six hours. After you’ve signed your pre-approval document, you will need to wait 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 just 24 hours.
The quickest way to apply is to make sure you apply during normal company hours. You can also allow us to use the advance bank verification to instantly check your bank’s information online. If you decide to send us documents from your account statements , it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer a response in one hour – provided you submit your request during standard business hours and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you choose to submit copies of your bank statements we can provide an answer in as little as one business day.
For Larger Business Loans ($100K to $500K) we may be able to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The most effective method for you to apply is ensure you apply during normal business hours. Also, let us use the advanced bank verification system link to instantly verify your bank information online. If you opt to send us duplicates of your banking statement, it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of factors in order to assess what is the health of the business as well as the amount of repayments your business is able to afford. The amount you receive from your loan will depend on the particular circumstances for your company.
When you make an application for a particular amount, we take into consideration a variety of aspects to determine how much we can lend you such as health that is your company and the level of the repayments your company can afford. The total amount of your loan will be determined by the particular circumstances the business.
When you make an application for the company loan, we will assess the risk assessment the company and offer you with a customised proposal that includes loan amount, term and interest rates. A company loan is an upfront priced loan therefore you will be aware of the total amount to be paid, including any charges or interest.
Interest rates for business loans rates vary due to variables like the amount to be of money borrowed, the business assets the money are used to purchase, the industry the business is in, how long the company has been in operation as well as how long the company has enough cash flow to support the loan, and the general health or financial standing of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you’ll be required to pay and when, right from the first day. There’s no compounding and no additional fees (as long as you make your payments in time).
We do not charge an Application Fee. You can apply for a loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can repay the entire amount of your loan in full at any time.
If you decide to take this route, please call our helpful company lending experts. The experts will provide you with the details of your repayment and an early payment figure. It will be calculated using the total of the principal balance and any accrued interest at the time of the early payout and 1.5% of the remaining principal and any fees that remain unpaid.
To make sure you do not miss payments and to work your cash flow schedule, we provide repayments either daily or weekly. They will be automatically deducted from your nominated company account.
Protecting your information, and being transparent about how we collect data, process, exchange and ensure the security of your information is of paramount importance and a vital element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system that allows you to instantly confirm your bank account information online, allowing us to provide quick responses.
Asset-based borrowing is when an company owner borrows from an asset they own to get a loan. The asset may be an individual property, such as the family home or an business asset such as a vehicle or piece or equipment.
The majority of the lenders not just the major banks, prefer to guarantee loans against assets. If you’re having trouble paying back the loan, the asset could be transferred to the lender. In essence, it’s the process of securing new funding using the value of what you already have.
For loans that exceed $150K, it is not necessary to secure assets before you can access the money, however we do require a personal guarantee. As long as you follow the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security will never be required. For loans of over $150K typically, you will need personal guarantee and security that is in the form a charge over assets.
