The requirements for obtaining an unsecured business loan in Auckland of between $5K and $100K is fairly low.
Looking for more funding? Find out the conditions of eligibility for our $100K to $500K company loans.
All you need to begin is your contact details (the name of your company, your name, email, phone) along with the amount you’d like to borrow, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity, but not to get started:
Once we’ve started with loans of more than $150,000 you’ll also require fundamental financial statements:
Let’s get started now.
Auckland unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply to get your Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an instant response and the funds could be in your account within 24 hours. Traditional company loans refer to an annual interest rate plus other fees and charges. The company loan is an upfront priced loan so you will be aware in advance of the total amount due, which includes any fees, interest or charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost every business use, including the management of cash flow, company renovations, marketing for purchasing 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 loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
To qualify for a loan in this amount the company needs to have been trading for at least 3 years and have an annual turnover of at least $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used to fund almost any company purpose including company renovations, purchase of new equipment or inventory or as general working capital and so much more. The loan is not available for personal reasons.
Asset security is required for funding of more than $150,000. It is usually as a result of an charge on assets, and could include registering this on the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is generally based rather than stating the security of a specific asset. The person who is signing the ensure is personally accountable if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a registration of a security interest.
A caveat is a legal document lodged to offer notice of a legal claim against a property.
If you’re seeking larger business loans of more than $250,000, we may offer an initial pre-approval in order to ease the process. We might be able to get this done without credit checks and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial well-being checks. It’s not an offer of credit or guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you may receive may be subject to different conditions.
You are eligible to apply for an company loan if you:
The application process is quick and easy. Complete the online form within a few minutes and an experienced company expert in lending will be in touch to guide you.
To apply for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Information on 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 as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) we usually offer a response in one hour, provided you submit your request at standard company hours and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements , we are able to offer a decision within just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of provide you with a conditional pre-approval within six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The quickest method would be to make sure you apply during standard business hours, and permit us to use the advance bank verification to verify your bank account information online. If you choose to send us copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer a response in one hour, provided you submit your request within standard business hours and allow us to use the bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statement, we’ll provide a decision within the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) we might be likely to provide you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this can be faster depending on the specifics of each application. Certain deals have been approved within the space of 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours. Also, allow us to use our advance bank verification link to instantly verify your bank account information online. If you decide to send us documents from your account statements, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a specific amount we consider a variety of elements in order to assess how much we can lend you health of the company and the amount of repayments that your company is able to afford. The total amount of the loan will be determined by the particular circumstances that are unique to your business.
When you submit an application for a particular amount, we look at a range of factors to assess how much we can lend you such as well-being of the business and the amount of repayments that your company is able to afford. The total amount of your loan will be contingent on the specific circumstances of your company.
If you decide to apply for the business loan, we will assess the risk profile the business and provide you with a tailored proposal that includes the loan amount, the terms and interest rates. A company loan is a loan that is priced upfront so you will be aware of the total amount to be paid, including any charges or interest.
Business loan interest rates depend on several factors such as the amount that is that is borrowed, what business assets the funds are used to purchase and the sector the business is operating in, how long the business is in operation as well as what percentage of the business has sufficient cash flow to pay for the loan, and overall health or financial standing of the business.
There are no hidden fees with our business loans, and you’ll know exactly how much it is that you be required to pay and when, starting from the very first day. There’s no compounding interest and no additional fees (as as you make your payments in time).
We don’t charge an application fee. You are able to get a cash loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back the entire amount of the loan in full at any time.
If you decide to take this route, please call our helpful company lending professionals. We will provide you with repayment details as well as an early payout amount. This is calculated as the sum of the principal balance and the accrued interest up to the time of early payment, plus 1.5% of the remaining principal and any outstanding fees.
To ensure that you don’t miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. These are automatically withdrawn from the nominated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and secure your information, is of paramount importance and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We employ an exceptionally sophisticated bank verification system to immediately verify the bank account details online to provide a fast response.
The term "asset-based" refers to borrowing where a company owner borrows from an asset that they own to secure the funding. The asset can be a personal asset like the family home or a company asset such as a vehicle or piece of equipment.
The vast majority of banks, even the big banks, tend 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 using the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required in advance to gain access to the funds However, we require a personal guarantee. require the personal guarantee. As long as you follow your loan obligations (as stipulated in your loan contract document) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150,000 typically, you will need an individual ensure and security is provided in the form of an asset charge.
