The criteria for eligibility for an unsecured business loan in Lower Hutt of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business loans.
All that is needed to begin is your contact information (the name of your company, your name, email, phone) as well as the amount you’d like to borrow, and your monthly revenue.
Through the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
After we start with loans that exceed $150,000, you’ll require the following financial statements:
Let’s get started now.
Lower Hutt unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
Apply to this Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and have the funds in your account within 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. We offer a company loan is a pre-paid loan therefore you’ll be aware in advance of the total amount payable including the interest, fees and charges. This is then divided into a daily or weekly payment amount.
A Small Business Loan can be used for virtually any business need, such as cash flow management, business remodels and marketing to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount the business needs to have been operating for at least three years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large company loan can be used for almost all company use, including company remodeling, buying equipment or inventory, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. This can be done by taking a charge over assets and can be registered through the PPSR or making as a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is generally based rather than defining security over a particular asset. The person who is signing the ensure is personally liable in the event that the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including the assets or goods). The PPSR grants the priority of personal property assigned according to the date a security interest that is registered.
Caveats are legal document that is filed to offer the legal claim against a property.
If you’re seeking the Larger Business Loan that exceeds $250K we can offer an initial pre-approval in order to smooth out the process. We may be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves the answer to a series of financial health questions. It’s not an offer or guarantee of financing. A conditional approval is subject a full credit assessment and any offer you receive could be on different conditions.
You may apply for an business loan if you
The application process is simple and easy. Just fill out the online application within a few minutes and an experienced business credit specialist will call you to help you.
To apply for up to $100,000, you’ll require ID details (valid Driver’s License) and a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, plus interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically offer an answer within an hour if you make your application within standard company hours and you allow us to use 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 offer a decision within one business day.
If you are applying for a Larger Business Loan ($100K and up) we might be capable of offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based on the specifics of each application. Some deals have been approved in just 24 hours.
The quickest method is to make sure you apply during standard company hours. Also, permit us to use the advanced bank verification system to check your bank’s information online. If you decide to upload duplicates of your banking statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within an hour, provided you make your application in normal business hours and you allow us to use the bank verification system link to instantly verify your bank information online. If you opt to send us copies of your bank statements, we are able to provide the decision in just an business day.
For Larger Business Loans ($100K or more) we could be likely to provide you with conditional pre-approval in around 6 hours. After you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this could be shorter based on the specifics of each application. Certain deals have been approved within 24 hours.
The fastest way is to make sure you apply during standard business hours. You can also let us use the modern bank verification to instantly check your bank’s information online. If you opt to send us documents from your account statements it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a certain amount, we will consider a number of elements for determining what is the well-being of the business as well as the amount of payments your business will be able to support. The total amount of your loan will depend on the particular circumstances the business.
When you make an application for a specific amount we look at a range of aspects to determine how much we can lend you such as well-being for your company and the level of repayments that your business can afford. The total amount of the loan will be determined by the particulars of your business.
When you apply for the business loans, we will assess the risk profile the company and provide an individualised proposal that includes loan amount, term and interest rates. A company loan is a loan that is priced upfront and you’ll be aware of the total amount due, which includes any costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors such as the amount that is that is borrowed, what company assets the money are used to purchase, the industry the business operates in, how long the business has been running, how long the company has sufficient cash flow to fund the loan, and also the overall well-being and creditworthiness of the business.
There are no hidden costs with our company loans, and you’ll know exactly how much you’ll be required to pay, and when, right from day one. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We do not charge an Application Fee. You are able to request a credit loan with without any upfront costs or the obligation to take action.
The Origination Fee covers the costs associated with setting up 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 percent of the loan amount.
You can repay the entire amount of the loan early at any time.
If you do decide to pursue this option, please contact our helpful company credit professionals. They’ll provide you with the details of your repayment along with an early payout estimate. This is calculated as the sum of the remaining principal amount and the accrued interest up to the time of early payment plus 1.5% of the principal amount remaining and any outstanding fees.
To make sure that you don’t miss payments and to work with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Security of your data, and being clear about the ways we gather data, process, exchange and safeguard your data, is of huge importance and is an essential part 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 certified for our dedication to security for our clients and security. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account information online. This allows us to provide rapid response.
Asset-based borrowing is when the business owner utilises an asset they own to obtain the funding. The asset may be an asset belonging to the personal, like the family home, or it could be a company asset such as a vehicle or piece of equipment.
The majority of lenders, not just the banks with the biggest size, prefer to secure loans against an asset. If you’re struggling to pay back the loan, then the asset could be taken over by the lender. In essence, it is an opportunity to secure new financing by using the value of what you already have.
For loans that exceed $150K, the requirement for asset security is not required prior to the loan’s access However, we do require the personal guarantee. In the event that you fulfill the terms of your loan (as detailed in your loan contract document) Asset security will never be required. For loans over $150K generally there is an individual ensure and security is provided in the form of the charge of assets.
