The requirements for getting an unsecured business loan in Auckland of between $5K to $100K are quite minimal.
Looking for more funding? Review the eligibility requirements for our $100K-$500K company financing.
All that is needed to begin is your contact information (the name of your company, your name, email and telephone) as well as the amount you’d like to lend, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity but not before we can begin:
After we start in the process, for loans that exceed $150,000, you will also need basic financial statements.
Let’s get started.
Auckland unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
You can apply to get this Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an answer within the same day and funds may be available in just 24 hours. Traditional company loans reference an interest rate per annum together with additional fees and charges. This business loan is a loan that is priced upfront therefore you’ll know in advance the amount you will have to pay, including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used for nearly any company use, including control of cash flow business improvements, advertising to purchase inventory or new equipment, for general working capital and much more. The loan cannot be used to fund personal expenses.
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. Repayments are weekly or fortnightly in order to accommodate the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size the business needs to be operating for at least three years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan can be used to fund almost all business need, including business renovations, to purchase equipment or inventory or as general working capital and much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. This can be done by way of charge over assets, and could include registration on the PPSR or filing as a caveat.
A personal or director’s ensure is a promise to repay a loan which is general in nature rather than specifying security over an asset. The person who is signing the guarantee is personally liable in the event that the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR permits priority over personal property to be assigned in accordance with the date on which a security interest was registered.
An affidavit is an official document lodged to provide an official notice of a claim to property.
If you’re applying for larger business loans of more than $250K we may be able to provide an initial pre-approval in order to make the process. We might be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes you answering some financial health checks. This is neither an offer nor a guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you may receive may be based on different terms.
You are eligible to apply for an company loan if you
The application process is fast and easy. Complete the online form within a few minutes and a dedicated business 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 Licence) along with an NZBN/IRD that is valid and at least 6 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 IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Information on the application including credit consent twelve months of bank records, IRD statement, last 2 years finalised financial statements, in addition to interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K to $100K) we typically offer an answer within an hour, provided you submit your request during standard company time and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements we can offer a decision within one business day.
For Larger Business Loans ($100K or more) we might be able to provide you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Certain agreements have been approved within 24 hours.
The quickest method would be to ensure you apply during normal company hours. You can also permit us to use the advance bank verification to check your bank’s information online. If you upload documents from your account statements , it will take a little longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide an answer within one hour, provided you submit your request within normal business time and let us utilise the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements we can provide the decision in just an business day.
If you are applying for Larger Business Loans ($100K or more) we might be capable of offer you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Some agreements have been approved within less than 24 hours.
The most efficient method is to make sure you apply during standard business hours. Also, let us use the modern bank verification link to instantly verify your bank account information online. If you choose to upload copies of your bank statement, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a certain amount we will consider a number of variables that determine what is the well-being of the company and the level of payments your company is able to afford. The amount you receive from your loan will depend on the specifics of your business.
When you apply for a set amount, we consider a variety of aspects to determine how much we can lend you such as well-being of your company as well as the amount of repayments your business can support. The amount you receive from the loan will be determined by the particulars that are unique to your business.
If you decide to request one of our company loans, we’ll assess the risk profile the company and provide you with a tailored offer including loan amount, term and interest rates. The business loan is an upfront-priced loan therefore you will be aware in advance of the total amount due, which includes any charges, interest rates or fees.
Business loan interest rates differ based on various factors including the amount that is borrowed, what company assets the funds are used to purchase in addition to the industry that the company operates in, the long the company is in operation and what percentage of the business has enough cash flow to pay for the loan, and also the general well-being or creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll know precisely how much you’ll need to pay and at what time, from the very first day. There’s no compounding and there are no additional charges (as long as you make your payments on time).
We don’t charge an application fee. You can get a cash loan with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of your advance loan at any time.
If you do decide to take this route, please call our helpful business loans specialists. The specialists will provide you with the details of your repayment as well as an early payout amount. It will be calculated using the total of the remaining principal amount plus any accrued interest as of the date of early payout in addition to 1.5 percent of the principal balance and any fees that remain unpaid.
To make sure you do not miss due dates and also to be in line with your cash flow general, we offer repayments either weekly or daily. They will be automatically deducted from your nominated business account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as safeguard your data, is crucial and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We utilise a sophisticated banking verification system to immediately confirm your bank account information online to offer a fast response.
Asset-based borrowing is when the company owner borrows from an asset they own to secure the funds for a loan. The asset can be either an individual property, such as the family home, or an company property like a truck or piece or equipment.
The majority of banks, including the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan, your asset may be offered for sale by the lender. In essence, it is a way of securing new financing by using the value of what you already own.
For loans of up to $150,000, it is not necessary to secure assets in advance to gain access to the funds however, we do need an individual guarantee. So long as you comply with the loan terms (as specified in your loan contract document) Asset security will never be required. If you take out loans in excess of $150,000 typically, you will need an individual ensure and security that is in the form an asset charge.
