The requirements for obtaining an unsecured business loan in Lower Hutt of between $5K and $100K are fairly minimal.
Do you need more money? Review the conditions of eligibility for our $100K-$500K company loan.
All that is needed to get started is your contact information (the name of your company, your name, email and telephone), how much you’d like to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of who you are but not for starting:
Once we’ve started in the process, for loans over $150,000 you will also need basic financial statements.
Let’s get started.
Lower Hutt unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the money could be in your account within 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. Our company loan is a pre-paid loan therefore you’ll know ahead of time the total amount payable including any fees, charges or charges. This is then divided into weekly or daily amount to be paid back.
A Small Business Loan can be used for virtually every business reason, such as cash flow management, company remodeling, marketing to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help company expansion 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 your situation.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To qualify for a loan in this amount the company needs to be operating for at least three years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan can be used to fund almost all company use, including company remodeling, buying inventory or new equipment for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary for funding of more than $150,000. It’s by way of charge against assets, and may include the registration of this on the PPSR or filing as a caveat.
A personal or director’s ensure is a commitment to repay a loan which is general in nature, rather than stipulating security over an asset. The person who is signing the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR gives priority over personal property to be granted according to the date a registration of a security interest.
An affidavit is an official document lodged to offer an official notice of a claim to property.
If you’re seeking an enterprise loan that is greater than $250,000 we may be able to provide an initial pre-approval to make the process. We might be able to make this decision without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial health questions. It’s in no way an offer, nor is it a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you receive could be subject to different terms.
You are eligible to apply for a business loan if you;
The application process is fast and easy. Simply complete the online form within a few minutes and a dedicated company lending specialist will contact you to guide you.
To apply for up $100,000 you’ll require identification details (valid Driver’s License) as well as a valid NZBN/IRD as well as at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent twelve months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim financials from the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually offer a response in one hour, provided you apply during quality business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your banking statements , we’ll be able to provide an answer within just 1 business day.
For the Larger Business Loan ($100K or more) we could be capable of offer you with a conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some transactions have received approval in just 24 hours.
The quickest method would be to make sure you apply during standard business hours, and allow us to use our advance bank verification to check your bank’s information online. If you opt to upload the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within one hour, provided you submit your request during normal business hours and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your banking statement, we’ll offer the decision within an business day.
For the Larger Business Loans ($100K or more) we might be in a position to provide you with conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some transactions have received approval in less than 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours. Also, 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 may take a bit longer.
We provide loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of elements in order to assess the health for your company and the extent of payments your company can afford. The amount you receive from your loan will be contingent on the particular circumstances that are unique to your company.
When you submit an application for a set amount, we look at a range of aspects to determine your well-being of your company and the extent of repayments your business can afford. The amount you receive from your loan will be determined by the particular circumstances that are unique to your company.
When you request the business credit, we’ll assess the risk profile of your company and offer you with a customised offer including the loan amount, the terms and the interest rates. This business loan is an upfront cost loan therefore you will be aware in advance of the total amount you will have to pay, including charges or interest.
Interest rates for business loans rates depend on several factors such as the amount that is that is borrowed, what business assets the money are used to purchase, the industry the business is in, how long the business has been operating and whether the business has sufficient cash flow to fund the loan, and also the general health and creditworthiness of the company.
There aren’t any hidden costs for our company loans. You’ll know precisely how much you’ll need to pay, and when, starting from the very first day. There’s no compounding interest and no extra fees (as as long as you pay your payments on time).
We don’t charge an Application Fee. You can request a credit loan with with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay all of your advance loan at any time.
If you do decide to pursue this option, please speak to our friendly business loan professionals. They’ll offer you with the details of your repayment and an early payment figure. This is calculated as the total of the remaining principal amount plus any accrued interest as of the time of early payout in addition to 1.5 percent of the principal balance and any fees that remain unpaid.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from your company account.
Security of your data, and knowing how we collect information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their privacy. We employ a highly sophisticated bank verification system to immediately verify the bank account details online so we can provide quick responses.
Asset-based borrowing is when a business owner utilises the assets they have to make the funding. The asset can be either an individual property, such as the family home, or an business asset like a truck or piece of equipment.
The vast majority of the lenders not just the big banks, tend to make loans secured by assets. If you’re struggling to pay back the loan, your assets could be transferred to the lender. In essence, it is an opportunity to secure new financing using the value of what you already have.
For loans of up to $150K, no asset security is required before you are able to access the money However, we do require a personal guarantee. In the event that you fulfill your loan obligations (as stipulated in the loan contract) and you are able to meet your obligations, asset security is not required. If you take out loans in excess of $150,000 typically, you will need an individual guarantee and security in the form a charge over assets.
