Unsecured Business Loans Bombay NZ

Today, You'll Be Getting Ready For Success WithThe Help Of a Bombay Business Loan

Unsecured Business Loans Bombay

A Bombay unsecured business loan is simple and quick to obtain. Apply for a loan quickly and use the money in your company.

  • Do you think that additional funds could help your business with working capital or for the potential for growth?
  • What is the financing strategy you are using to fund your company needs?

What to expect:

  • Easy to apply and get approved and funds as soon as tomorrow
  • There is no option to remittances in the first four weeks
  • Borrow from $5k to $500K
  • Terms from three to thirty-six months
  • Competitive rates of interest prices
  • Minimal docs required

The eligibility requirements for an unsecured business loan for a company loan Bombay are fairly minimal.

Call Now 0800 004 520
I can now take an extended vacation knowing that it is safe knowing that Bombay company will run well.
Local Business Owner
Business credit rates and repayment conditions, and flexible repayment options that can be tailored to what your company needs.
Business Lending Options
I can now hire a marketer to boost my business to the next stage.
Growing Bombay Business
I'm able to get my tax back in order.
Small Business Owner
Business loans, specifically one that is an unsecured business loan or line of credit to business financing require to not become a tense procedure. Finance for a business in the shape of small business loans at a fixed interest rate cost, and with a repayment term which is compatible with your business budget.
Business Lenders for Business Goals
I can now fund the construction of our new Bombay resturant without having draw cash from other ones.
Bombay Resturant Owner
I am now able to make the coffee I serve my clients using the very best equipment.
Cafe Owner
A simple loan application process with a generous borrowing limit, minimal requirements for credit, and no need to present a business plan. Don't use your personal credit card or company credit cards to finance your company.
Unsecured Loans Made Simple
Unsecured Business Loan Service Provider

Fast Approval Process

The process of applying for business loans in Bombay business loans in Bombay with us is easy and takes just some minutes, without long lines of paperwork or waiting in line.

Be approved and receive your funds within one to two business days.

Helping Business Owners Looking for an Unsecured Loan

People Choose Us Because We Get Results

We aim to help Bombay businesses of all types, whether small, medium or solopreneurs access funds quickly so that they can utilise the loan to grow and build.

  • It begins with an easy online application or a phone call
  • Flexible repayment terms to suit your business
  • Fast and quick funding within a single day or two
  • A team wanting to see you succeed as well as you company to succeed
Simple eligibility checklist

Small Business Loan Eligibility Criteria

The criteria for eligibility for an unsecured business loan in Bombay of between $5K and $100K are fairly minimal.

  • At least 6 months in business
  • At least $6,000 in income per month
  • Be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or
  • Driver’s License to serve as proof of identity
  • You should have a New Zealand bank as your principal trading account
  • Bank statements from the last six months

Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K business loan.

Here's How Others Have Benefited

Examples of Business Loans

A restaurant owner wanted to open a second location and needed money to fund the remodel. Their bank was not willing to help. The average monthly income for them was $50K and they were able borrow $66K over the course of 24 months. It took only 8 hours to get access to the funds.
Restaurant Owner
A business coach was looking to invest in the well-being as well as beauty business. With just under twelve thousand dollars in monthly income, they borrowed $24K over 24 months. The loan required 12 months of bank statement and was done in only 8 hours.
Business Coach
A plumber who's had business for three years and has the monthly revenue of $80K was looking for more funding. They took out $153K on the course of 36 months. All that was required were 12 months' worth of statement and confirmation from the IRD. The process was completed within a day and the plumber had their extra working capital in their account in a matter of hours.
Plumber
A gym that had been going for nearly 3 years, was planning to expand and required additional equipment. With a monthly income of $37K, they borrowed $72K over a 24- month period. No security was required for the loan and it was settled within only 24 hours.
Gym
With the busy Christmas season nearing, a clothing store required additional working capital to purchase more inventory and benefit from a supplier discount. They took out a loan of $20K over a period of 12 months with no security of assets required. They received the funds in less than 24 hours.
Clothing Store
Simple eligibility checklist

Larger Bombay Business Loan Eligibility Criteria

The criteria to be eligible to be eligible for larger Bombay company loans of between $100K and $500K consist of:

  • Minimum of 3 years trading in business
  • At least $700K in annual revenue
  • Be a New Zealand based company with an New Zealand Business Number (NZBN)
  • Drivers Licence or Passport for identification proof
  • Have a New Zealand bank as your principal trading account
  • Bank statements for the last 6 months
  • Certain financial statements include Profit & Loss and the Aged Accounts Payable and Receivable

You are looking for a lesser amount of funding? Look over the guidelines for eligibility for our $5K-$100K Bombay unsecured company loans.

Business Lending for a Cash Injection

What do you want to use the business loan in Bombay for?

A Bombay unsecured loan is ideal for virtually any company purpose. Contact us now.

  • Remodel or expand commercial properties
  • Grow the team during busy times
  • Boost stock quantities to keep up with demand
  • Create a new site or boost your marketing
  • Make sure you invest in the latest equipment, tools or the latest technology
  • Purchase additional stock to meet seasonal demand
  • Control cash flow fluctuations
  • Plus lots more …

Do you want to start working on one of these as soon as tomorrow? Get in touch with us or send your application online to apply the fastest, most convenient way.

Quick application checklist

What do you need to apply

All that is needed to begin is your contact information (the name of your company and your name, as well as email, phone) along with the amount you’d like to borrow, and your monthly income.

While in the process and before settlement we will need confirmation of your identity, but not for starting:

  • Information on Idenfication (valid Driver’s License)
  • Details of the business including time of trading, ownership details and NZBN (New Zealand Business Number)

Additionally after we get started when it comes to loans over $150,000 you will also require the following financial statements:

  • Profit & Loss statement
  • Aged payables
  • Aged receivables

Let’s get started.

 

Here's How Others Have Benefited

Examples of Business Loans

The busy Christmas season was nearing, a clothing store needed additional working capital to purchase more stock and take advantage of discounts offered by suppliers. They borrowed $20K over 12 months, with no security of assets required. They received the money in just 24 hours.
Clothing Store
After purchasing a pizza place as well as two liquor stores 6-12 months prior, the new owners were looking for additional funds. The combined revenue was over 500K per month. They were able to borrow $300K. This was then split as $100K for each store, with a mix of 24 and 36 month terms. No security over the owner's homes was required.
Owner of a Pizza Store & 2 Liquor Stores
A designer for interiors had seen an opportunity to expand their business and needed working capital in order to finance this expansion. With a monthly revenue of $300K they borrowed $250K over the course of 24 months. Their turnaround time was only two days and all they had to present is 12 months' worth of Bank statements, IRD confirmation, and their trust deed.
Interior Designer
A company coach was looking to invest in a well-being and beauty business. With just under $12K in monthly revenue the business was able to borrow $24K over 24 months. This only required the submission of 12 months' bank statement and was done in 8 hours.
Business Coach
A plumber who's been in business for three years and has monthly sales of $80K was in need of more funds. They were able to borrow $153K over a 36 month term. All they needed was 12 months of bank statements as well as confirmation of the status with IRD. The process was completed in less than just a few hours and the plumber received their additional working capital in their account shortly thereafter.
Plumber

Unsecured Business Loan Bombay NZ 2675

The lending landscape has changed

With traditional and bank lenders increasing their credit requirements as well as the continuous stream of non-bank and alternative loan providers entering the market offers an incredible source to take advantage of.

Bombay SME’s are now able to access finance through alternate lenders servicing Bombay who are focused on facilitating business growth or smoothing out cash flow issues. In the past, personal credit sources (drawing equity from the house loan, or by using credit cards or personal loans, as well as the overdraft) provided the most viable alternative financing solutions in Bombay that were available.

There’s an end to the need in the present to rely on using real estate to secure company credit. With an unsecured loan, business financing is now easy. Instead of a term loan with banks, business finance for a small business with interest rates and loan terms that can help to manage cash flow are available as business lending options.

 

 

High level summary

Separate personal and business debt

There are substantial benefits associated in separating personal from business debt.

  • Your home or other investment properties, aren’t held in order to access funds
  • This business is in a better position to create its own, clear credit history
  • It’s significantly more straightforward when it comes to tax time
  • Businesses are able to easily review the situation, track and plan based on their ability to clearly assess their cash flow position

Reduce your risk, make the tax process much easier. Get started with an unsecured busines loan. Apply today.

For those who like the detail

Separate personal and business debt

Risk

One major benefit of keeping your private and company assets apart will be the fact that your house isn’t required to be tied to the funds. In the case of a business loan in Bombay up to $100K the security of assets won’t be required so long as the borrower is able to meet the loan requirements.

Credit history

Companies are in a favourable long-term financial position if they can show good credit and debt ability to service.

Tax

The separation of personal as well as company finances makes it significantly more straightforward in the event of tax time - particularly when identifying what is the tax-deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has laid out requirements for evidence to be able to claim deductions on a company’s tax return. This is an area the IRD have specifically advised on.

Cash flow

Effective management of cash flows is crucial to the long-term viability for any business. Through maintaining personal as well as company finance separate, businesses can easily view the situation, track and plan based on the ability to effectively assess their cash flow position.

I'm able to get my tax back on track.
Small Business Owner
I am now able to take time off knowing that my Bombay company will run well.
Local Business Owner
I'm now able hire a marketer to increase the success of my company to the next stage of business growth.
Growing Business
I am now able to fund the remodel of our brand fresh Bombay resturant without having to pull cash from the other resturants.
Bombay Resturant Owner
A straightforward loan application process that comes with a high limit on borrowing, no requirements for credit, and there is no requirement to present a business plan. Do not use your personal credit card and company credit cards as a way to finance your business.
Unsecured Loans Made Simple
Business credit rates and repayment terms and flexible repayment options that can be tailored to what your business needs.
Business Lending Options
Business loans, in particular those that are unsecured business loan or line of credit to business financing require never be an tense process. Finance for a company in the shape of small business loans at an interest rate and repayment schedule that will suit your business liquidity.
Business Lenders for Business Goals
I am now able to make espresso for customers using the best equipment.
Cafe Owner
FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Details of The Bombay Small Business Loans

Tell me what you think of the Bombay Small Business Loans

Bombay unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.

How is what makes the Unsecured Loan different from an traditional business loan?

The application to get this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the money could be available in just 24 hours. Traditional business loans reference an annual rate of interest plus other fees and charges. This business loan is a loan that is priced upfront which means you know in advance the amount you will have to pay, including the interest, fees and charges. This is then broken down into weekly or daily repayment figure.

What could the Small Business Loan be used for?

A Small Business Loan can be used for nearly any company need, such as cash flow management, business remodeling, marketing to purchase inventory, new equipment, or as general working capital and so much more. The loan is not available to fund personal expenses.

About Larger Bombay Business Loans

What is the Larger Bombay Business Loan?

The Larger Business Loan is a larger size loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your situation.

How is the Origination Fee determined?

This Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.

Am I eligible for the Larger Business Loan?

To qualify for a loan that is this large, your company needs to have been in operation for at least 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.

How can the funding be used for?

A Larger Business Loan can be used to fund almost every business reason, such as company renovations, to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal purposes.

Is the Larger Business Loan one that requires security?

Asset security is required to obtain funding above $150,000. It’s as a result of an charge on assets, which could also include the registration of this in the PPSR or the registration of a caveat.

A personal or director’s guarantee is a commitment to repay credit that is generally based rather than stating security over a particular asset. The person signing the guarantee is personally accountable if the business borrower is unable to repay the debt.

The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR gives the priority of personal property assigned according to the date a registration of a security interest.

A caveat is a legal document filed to provide notice of a legal claim against a property.

What is a pre-approval minus Credit Check?

When you’re applying for larger company loans of more than $250,000 we may be able to provide an initial pre-approval to simplify the process. We might be able to make this decision without credit checks and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial well-being checks. It is not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to an extensive credit evaluation and any offer that you might receive could have different conditions.

Application process

Do I qualify for funds?

You can apply for a business loan if you

  • are a New Zealand Citizen (or Permanent Resident)
  • are 18 years or older, have a New Zealand business (with a valid NZBN/IRD)
  • you must prove at least 6 months of business (for for the unsecured loan $5K – $100K) or three years of trade (for the Larger Business Loan $100K - $500K)

How do I apply?

The application process is quick and simple. Just fill out the online application within a couple minutes, and a dedicated company loan specialist will call you to assist you.

For a loan of up to $100,000, you’ll require proof of identity (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months of bank statements.

For larger loan sizes, you’ll need:

$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables summary.

What speed will I be able to get an answer?

For an unsecured loan ($5K to $100K) we usually provide a response in one hour if you submit your request during standard company time and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements , we are able to offer the decision within just one business day.

If you are applying for a Larger Business Loan ($100K up to $500,000) we could be likely to offer the conditional pre-approval in around six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the specifics of each application. Some transactions have received approval within 24 hours.

The quickest method would be to make sure you apply during standard business hours. Also, permit us to use the modern bank verification to instantly verify your bank information online. If you decide to send us the copies of bank statement, it can take a bit longer.

What is the time frame to receive the money?

For the Small Business Loan ($5K to $100K) we typically provide an answer in just one hour, provided you make your application at normal business timings and permit us to use the bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statement, we’ll offer an answer in as little as an business day.

If you are applying for Larger Business Loans ($100K up to $500,000) We may be likely to provide you with pre-approval conditional to your application within about 6 hours. Once you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Some offers have been approved within just 24 hours.

The most efficient method would be to make sure you apply during standard business hours. You can also allow us to use the modern bank verification to confirm your bank details online. If you send us duplicates of your banking statements, it can take a bit longer.

What’s the minimum amount I can borrow?

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 elements for determining the health for your company and the amount of repayments your company can afford. The amount you receive from your loan will be contingent on the specific circumstances of your company.

When you make an application for a specific amount we consider a variety of elements to assess how much we can lend you such as well-being of the business and the extent of the repayments your business can support. The total amount of your loan will be determined by the specific circumstances the business.

Fees & repayments

How much do you charge for an business loan?

If you decide to request our company loan, we’ll assess the risk profile for your business and offer an individualised offer that includes the amount of the loan, the duration and interest rates. It is a business loan is an upfront-priced loan so you will know in advance the total amount payable including any costs, fees, or interest rates.

What is the basis for the rate I pay?

Interest rates for company loans rates differ based on various variables like the amount to be borrowed, the business assets the funds will be used for in addition to the industry that the business is operating in, how long the business has been in operation as well as whether the business has sufficient cash flow to support the loan, and overall health or creditworthiness of the company.

What are the charges?

There are no hidden costs for our business loans. You’ll know precisely what you need to pay, and at what time, from day one. There’s not any compounding interest and no extra fees (as as you make your payments on time).

We don’t charge an Application Fee. You can request a credit loan with no upfront cost or obligation to proceed.

The Origination Fee is the cost associated with the setting up and management of 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.

Can I pay off the loan early?

You can repay the entire amount of the loan early at any time.

If you do decide to take this route, please speak to our friendly company lending professionals. We will offer you with repayment details along with an early payout estimate. This is calculated as the total of the principal amount remaining and accrued interest to the time of early payment, plus 1.5 percent of the principal amount remaining as well as any outstanding fees.

What is the process for repayments?

To make sure you do not miss repayments and to fit in your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your designated business account.

Security & privacy

Will my information be protected?

Making sure that your information is secure, and being transparent about the ways we gather the information we collect, use, share and secure your information, is vital and a vital part of our relationship you.

Is it safe to link my bank account to the platform?

Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to customer security and security. We use an advanced banking verification system to immediately confirm your bank account information online so we can offer rapid response.

About business loans

What exactly is an asset-based loan (a secured loan)?

An asset-based loan is when the business owner uses an asset that they own to secure the funds for a loan. The asset can be either an individual property, such as the family home or a company asset such as a vehicle or piece of equipment.

The majority of banks, not just the banks with the biggest size, prefer to secure loans against an asset. If you have trouble paying back the loan, then your asset may be taken over by the lender. In essence, it is means of securing new funding using the value of what you already own.

Should I require security to secure a business loan?

For loans that exceed $150,000, the requirement for asset security is not required upfront to access the money however, we do require a personal guarantee. As long as you follow the loan terms (as stipulated in your loan contract document) the security of assets is not needed. For loans of over $150,000 generally, there is an individual guarantee and security is provided in the form of an asset charge.

Industries we currently aren't able to help with

  • Adult related industries
  • Auction websites & auction houses
  • Debt purchasers or debt collection companies
  • Direct marketers including mail order, fundraising, telemarketing, direct-mail etc
  • Finance lenders and institutions
  • {Firearm businesses
  • Foreign currency exchange services
  • Freight forwarding and customs clearing houses
  • Anything gambling related
  • Not-for-profit organisations, charities, churches etc
  • Smash repairers or panel beaters
  • Pawn shops or pawnbrokers
  • Property development
  • Investment business, shares & stockbrokers
  • Tattoo palours
  • Ride sharing & taxi services
  • Ticket resellers & entertainment sales
  • Towing services
  • Secondhand car dealers
  • Automotive glass tintingfirms
  • Vehicle wrecking yards

Although we cannot assist with an unsecure business loan for the above industries, we might be able to assist you by providing a secured business loan.

Unsecured Business Lending NZ Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

Apply Now

Apply Now

Contact Us

Contact Us

Contact Us

Fill out the form below or Call Now
0800 004 520