A Days Bay unsecured business loan is easy and quick to obtain. Approve your loan in a matter of minutes and use the money to grow your company.
What you can expect:
The criteria for eligibility for an unsecured business loan within Days Bay are fairly minimal.
Call Now 0800 004 520Applying for the company credit within Days Bay with us is simple and only takes about a couple of minutes, there are no piles of paperwork or long waits.
Receive approval and funds within 1 – 2 company days.
We are aiming to assist Days Bay companies of all kinds, from small to medium-sized solopreneurs to access quick funding so that they can use the loan to build and expand their business.
The eligibility requirements for an unsecured business loan in Days Bay of between $5K and $100K are pretty minimal.
Looking for more funding? Review the guidelines for eligibility for our $100K to $500K business loan.
The requirements for eligibility of loans from larger Days Bay business loans of between $100K and $500K are:
Are you looking for a lower amount of money? Take a look at the eligibility requirements for our $5K to $100K Days Bay unsecured business loans.
A Days Bay unsecured loan is perfect for nearly every company use. Contact us now.
Want to get started on one of these options as early as tomorrow? Then get in touch with us or send your application online to get the fastest and most efficient process.
All that’s needed for starting is your contact information (company name, your name, email and phone) as well as the amount you want to borrow, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
In addition, once we have started in the process, for loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started.
With traditional and bank lenders restricting credit, the steady stream of non-bank and alternative loan providers that are entering the market offers an excellent source for you to make use of.
Days Bay SME’s are now in a position to obtain finance via other lenders in Days Bay who are focused on facilitating business growth or smoothing out problems with cash flow. In the past private credit options (drawing equity from a house loan, or by using credit cards in addition to personal loans and credit cards) was the sole alternative financing solutions within Days Bay that were available.
There is now there is no need for you to rely on using real estate to secure company credit. With an unsecured loan, business financing is easy. Instead of a term loan with the bank, business finance for an SME with interest rates and loan terms that can help in cash flow are available as business loans.
There are many benefits with separating personal and company debt.
Reduce your risk, make tax time easier, get started with an unsecured busines loan, apply today.
One big drawcard for keeping your personal and company assets separate will be the fact that your house isn’t necessarily tied up to allow access to the funds. If you’re looking for a small business loan within Days Bay up to $100K asset security won’t be needed as in the event that the borrower has met their loan obligations.
Companies will be in a favourable long-term financial position if they can show good credit and debt capability.
Separating personal and company finances makes it much more seamless in the event of tax time - particularly when determining what is the tax deductible allocation. The IRD has outlined the rules on the evidence required in order to deduct deductions from an individual’s tax return. This is a subject that the IRD have specifically advised on.
Effective cash flow management is crucial to the long-term success for any company. By keeping personal and business finances distinct, companies can easily view the situation, track and plan based on the ability to effectively assess their cash flow position.
Days Bay unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
The application to the Small Business Loan in under 10 minutes over the phone, receive an immediate response, and funds may be on your account within 24 hours. Traditional business loans have an interest rate per annum plus other fees and charges. This company loan is a cash-based loan so you will know in advance the total amount due, which includes any fees, interest or charges. Then, it is broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost every company need, such as the management of cash flow, company improvements, advertising to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the loan amount.
To be eligible for a loan that is this large, your company needs to have been in operation for at least 3 years, and have an annual income of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger company loan can be used to fund almost every company reason, such as business remodeling, buying inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. It is usually in the form of a charge on assets, which could also be registered on the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature, rather than stating the security of a specific asset. The person who is signing the ensure is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR gives preference over private property granted according to the date a security interest that is registered.
Caveats are legal form of document to offer notice of a legal claim to property.
When you’re applying for the Larger Business Loan of more than $250,000, we may offer an initial pre-approval to ease the process. We could be able to do this without a credit verification and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being questions. It is not an offer or guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer that you may receive may be subject to different terms.
You are eligible to apply for an company loan if you
The process for applying is fast and easy. Just complete the online application in few minutes and an experienced company lending specialist will be in touch to assist you.
For a loan of up to $100,000, you’ll need identification details (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also 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 to $500K: Details of the application, including credit consent, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within an hour if you make your application during standard business times and allow us to use the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements , we are able to provide a decision in as little as 1 company day.
For the Larger Business Loan ($100K to $500K) we might be likely to offer you with conditional pre-approval within 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some agreements have been approved in the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard company hours and allow us to use the modern bank verification link to verify your bank account information online. If you opt to upload the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer within an hour – provided you submit your request within standard business times and allow us to use the bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements we can offer the decision in just an business day.
If you are applying for Larger Business Loans ($100K or more) we may be in a position to offer you with pre-approval conditional to your application in around 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based on the specifics of each application. Certain offers have been approved in less than 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours, and permit us to use the advance bank verification link to confirm your bank details online. If you choose to upload copies of your bank statements it takes a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a specific amount we will consider a number of aspects in order to assess what is the health for your company as well as the amount of payments your business can afford. The amount you receive from the loan will be determined by the specifics of your company.
When you apply for a specific amount we will consider a number of factors to assess your health that is your business and the level of repayments your business can afford. The amount you receive from your loan will be contingent on the specifics of your business.
When you request the company loans, we will assess the risk profile the company and provide you with a tailored offer, including the amount of the loan, the duration and the interest rates. This business loan is an upfront cost loan which means you know in advance the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates vary due to factors like the amount of money of money borrowed, the business assets the money are used to purchase as well as the field the business operates in, the long the company has been running as well as what percentage of the business has sufficient cash flow to fund the loan, and also the general well-being and creditworthiness of the business.
There aren’t any hidden charges with our business loans, and you’ll know exactly how much you be required to pay and at what time, from day one. There’s not any compounding interest and no extra fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You can request a credit loan absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the costs associated in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can decide to repay the entire amount of the loan at any point in time.
If you are deciding to take this route, please call our helpful company loans experts. They’ll provide you with repayment details as well as an early payout amount. The figure will be calculated as the total of the remaining principal amount and accrued interest to the date of early payout, plus 1.5 percent of the principal amount remaining as well as any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your designated business account.
Protecting your information, and being clear about how we collect, use, exchange and secure your information, is crucial and a vital part of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to customer security and privacy. We utilise a sophisticated banking verification system to instantly verify the bank account details online so we can provide a fast response.
Asset-based borrowing is when an company owner borrows from assets they own to get the funding. The asset can be either an individual property, such as the family home or it could be a company property like a truck or piece of equipment.
The vast majority of banks, including the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan, then the asset might be sold by the lender. In essence it’s means of securing new financing by using the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required upfront to access the money however, we do need the personal guarantee. So long as you comply with your loan obligations (as detailed in your loan contract document) the security of assets will never be needed. For loans that exceed $150,000, generally, you are able to get personal guarantee and security in the form of an asset charge.
While we aren’t able to help with an unsecured business loan in these types of industries, we may be able to assist you by providing a secured business loan.
