Unsecured Business Loans Korokoro NZ

Today, You'll Be On The Right Track To Success WithThe Help Of a Korokoro Business Loan

Unsecured Business Loans Korokoro

A Korokoro unsecured business loan is quick and easy to get. Get a quick apporval and begin using the money for your business.

  • Are additional funds able to help your company in working capital, or in achieving the opportunity for growth?
  • How do you finance your business needs?

What to expect:

  • Simple process to apply to be approved and receive cash as quickly as tomorrow
  • Optionally no reayments in the initial 4 weeks
  • Amount of loan from $5k up to $500K
  • Terms from 3 to 36 months
  • Competitive rates of interest prices
  • Minimal documentation

The criteria for eligibility for an unsecured business loan within Korokoro are fairly minimal.

I'm now able to hire an professional marketer to boost my company to the next level.
Growing Korokoro Business
I'm now able fund the fitout of our fresh Korokoro resturant without having to pull cash from the other locations.
Korokoro Resturant Owner
Business loans, in particular an unsecured business loan or line of credit for business funding require never be an difficult procedure. Business finance in the form of small business loans that have an interest rate cost, and with a repayment period which is compatible with your business budget.
Business Lenders for Business Goals
I can get my tax back to keep me on track.
Small Business Owner
I'm now able to go on time off knowing that it is safe knowing that Korokoro company will run well.
Local Business Owner
I can now make the coffee I serve my customers with the very best equipment.
Cafe Owner
Business loan interest rates and repayment terms and flexible repayment options to suit you business needs.
Business Lending Options
A simple loan application process with a large borrowing limit, minimal requirements for credit and no need to create a business plan. Stop using your personal credit card or business credit cards in order to finance your company.
Unsecured Loans Made Simple
Unsecured Business Loan Service Provider

Fast Approval Process

Applying for a company credit within Korokoro with us is simple and only takes some minutes, without lengthy forms or lines.

Approved and receive funds within 1-2 business days.

Helping Business Owners Looking for an Unsecured Loan

People Choose Us Because We Get Results

We want to assist Korokoro businesses of all kinds, including medium, small and even soloprenuers to get access to quick funding so that they can take advantage of loans to expand and develop.

  • It begins with an easy online application or phone call
  • Flexible terms for repayment to fit your company
  • Fast and prompt funding within a single day or two days
  • We want you and your company to be successful
Simple eligibility checklist

Small Business Loan Eligibility Criteria

The requirements for obtaining an unsecured business loan in Korokoro of between $5K and $100K are fairly minimal.

  • The minimum period of 6 months for which you must be in business
  • At least $6,000 revenue per month
  • You must be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or Driver’s License for identification proof
  • Make sure you have a New Zealand bank as your principal account for trading
  • Bank statements from the last six months

Need more funds? Find out the guidelines for eligibility for our $100K to $500K business loan.

Here's How Other People Have Benefited

Examples of Business Loans

A gym that was going for nearly 3 years decided to increase its size and required additional equipment. With monthly revenue of $37K they borrowed $72K over a month period. The loan was not secured and the loan was ready within only 24 hours.
Gym
A restaurant owner wanted to open another restaurant and needed money to fund the renovation. The bank was not willing to help. Their typical monthly earnings was $50K, and they were able borrow $66K over the course of 24 months. Turnaround was only 8 hours.
Restaurant Owner
A business coach was seeking to invest in an well-being as well as beauty company. With a little over 12K in revenue per month the business was able to borrow $24K over 24 months. This required the submission of 12 months' bank statements and was completed in just 8 hours.
Business Coach
The owner of a modest supermarket that was making $70K a month borrowed $76K over a 24 month term with no repayments during the initial 4 weeks. This required 12 months of bank statements. The time to turn around was just six hours from application to getting the funds.
Grocery Store Small Business Loan
When they purchased a pizza place and two liquor stores six to 12 months earlier, the new owners were seeking more funds. The revenue total was greater than $500K per month . The owners were able to borrow $300K. This was then split as $100K per store on two different 24 and 36 months. There was no security on the owners' houses was needed.
Owner of a Pizza Store & 2 Liquor Stores
Simple eligibility checklist

Larger Korokoro Business Loan Eligibility Criteria

The criteria for eligibility in loans from larger Korokoro business loans of between $100K and $500K are:

  • A minimum of 3 years of business
  • A minimum of $700K annually in revenue
  • You must be a New Zealand based business with an New Zealand Business Number (NZBN)
  • Passport or Driver’s License for evidence of identity
  • Make sure you have an account with a New Zealand bank as your principal trading account
  • Bank statements from the last 6 months
  • Some financial statements such and Profit & Loss and the Aged Accounts Payable and Receivable

Looking for a smaller amount of money? Look over the guidelines for eligibility for our $5K to $100K Korokoro unsecured business loans.

Business Lending for a Cash Injection

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

A Korokoro unsecured loan is great for virtually any company reason. Contact us now.

  • Renovate or expand commercial properties
  • Hire more staff for busy times
  • Increase stock levels to meet the demand
  • Make a brand new website or boost your marketing
  • Make sure you invest in new tools, equipment or new technologies
  • Purchase extra stock to cover the seasonal demand
  • Control cash flow fluctuations
  • Plus lots more …

Want to get started on one of these as soon as tomorrow? So, contact us now or apply online for the quickjest fasted way.

Quick application checklist

What do you need to apply

All that is needed for starting is your contact details (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 earnings.

In the course of the process and before settlement we will need confirmation of your identity but not before we can begin:

  • Idenfication information (valid Driver’s License)
  • Business information including trading times owner details, trading time, as well as NZBN (New Zealand Business Number)

Once we’ve started when it comes to loans that exceed $150,000, you’ll require basic financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started.

 

Apply Now







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    Here's How Others Have Benefited

    Examples of Business Loans

    A restaurant owner wanted to open a second establishment and needed money to fund the remodel. Their bank was not interested in helping. Their typical monthly earnings was $50K, and they borrowed $66K over 24 months. It took only 8 hours to get access to the funds.
    Restaurant Owner
    A company coach wanted to invest in the health and cosmetics business. With a little over twelve thousand dollars in monthly income the company borrowed $24K over 24 months. The loan was based on 12-month bank statements and was done in 8 hours.
    Business Coach
    A designer for interiors had seen an opportunity to grow their company and needed working capital to finance this growth. With monthly revenue of $300K they borrowed $250K over the course of 24 months. The turnaround time was only two days and all they had to present the required documents were twelve months' bank statement along with IRD confirmation and their trust deed.
    Interior Designer
    The owner of a small grocery store making $70K a month borrowed $76K over a 24-month term , without making any repayments for the first 4 weeks. This had a requirement of 12 months' bank statements. The turnaround time was only 6 hours from the moment you applied to receiving the funds.
    Grocery Store Small Business Loan
    Following the purchase of a pizza store and 2 liquor stores six to to 12 months ago, the new owners were seeking more funds. The total revenue of the two stores was more than 500K per month. They could borrow $300K. This was then split as $100K per store on an option of both 24 and 36 months. No security over the owner's houses was required.
    Owner of a Pizza Store & 2 Liquor Stores

    The lending landscape has changed

    In the wake of traditional lenders and banks tightening their credit terms and the constant stream of alternative and non-bank loan providers entering the market offers the perfect source to make use of.

    Korokoro SME’s are now able to access finance through other lenders in Korokoro who are focused on enabling business growth or smoothing cash flow issues. In the past, when individual credit providers (drawing equity from a house loan or credit cards, personal loans and the overdraft) could be the best alternative financing solutions in Korokoro that were around.

    There is now no need for you to depend on the real estate market to secure business loans. With an unsecured loan business financing is now easy. Instead of a term loan through the bank, business finance for a small business with interest rates and loan terms that aid in cash flow are available as business loans.

     

     

    High level summary

    Separate personal and business debt

    There are numerous benefits in separating personal from business debt.

    • Your home, or other investmentsaren’t tied for access to funds
    • The company will be in better place to develop its own, clear credit history
    • It is much more seamless for tax time
    • Businesses can easily assess their cash flow, monitor and plan based on being able to easily assess their cash flow position

    Limit your exposure, make the tax process simpler, start with an unsecure business loan. Get it today.

    For those who like the detail

    Separate personal and business debt

    Risk

    The main benefit of keeping your personal and business 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 within Korokoro up to $100K an asset security agreement will not be required as long as the borrower is able to meet their loan obligations.

    Credit history

    Businesses are in a more stable long-term position when they can demonstrate good credit/debt capability.

    Tax

    The separation of personal as well as business finances makes it much more seamless in the event of tax time - especially when it comes to determining the tax deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has set out the guidelines on the proof required for claiming deductions on a company’s tax return. This is an area the IRD has specifically advised on.

    Cash flow

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

    A simple loan application process with a large borrowing limit, minimal requirements for credit and there is no requirement to submit a business plan. Do not use your personal credit card and company credit cards in order to fund your business.
    Unsecured Loans Made Simple
    I can get my tax back in order.
    Small Business Owner
    I can now hire an experienced marketer to help me help me take my company to the next stage of business growth.
    Growing Business
    I am now able to take a holiday knowing it is safe knowing that Korokoro business will run effortlessly.
    Local Business Owner
    Business loans, in particular an unsecured unsecured business loan or line of credit to business financing need have no difficult procedure. Finance for a company in the shape in the form of small business loans with an interest rate and repayment term that is suitable for your business cash flow.
    Business Lenders for Business Goals
    Business loan interest rates and repayment terms as well as flexible repayment options to suit what your business needs.
    Business Lending Options
    I'm now able to finance the renovation of our new Korokoro resturant without having to take cash from other locations.
    Korokoro Resturant Owner
    I'm now able to prepare beverages for customers with the very best equipment.
    Cafe Owner
    FAQ: business lending & business loans for business owners

    Business Loans Frequently Ask Questions

    Information About The Korokoro Small Business Loans

    Let me know what you think of the Korokoro Small Business Loans

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

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

    You can apply to get your Small Business Loan in under 10 minutes on the internet or by phone. You will receive an instant response and funds may be in your account in 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. This company loan is a pre-paid loan so you will be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then broken down into either a daily or weekly amount to be paid back.

    What can you use the Small Business Loan be used for?

    The Small Business Loan can be used for nearly any company purpose including cash flow management, company improvements, advertising, to purchase inventory or new equipment, or as general working capital and so much more. The loan cannot be used for personal use.

    Concerning Larger Korokoro Business Loans

    What is the Larger Korokoro Business Loan?

    The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term that can last up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.

    How is the Origination Fee calculated?

    This Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.

    Am I eligible for the Larger Business Loan?

    To qualify for a loan of this size, your company needs to be trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.

    How can the funds be utilised?

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

    Is the Larger Business Loan one that is secured?

    Asset security is needed for accessing funds over $150,000. This is in the form of a charge against assets and can include registering this in the PPSR or making as a caveat.

    A director’s or personal guarantee is a guarantee to repay credit that is generally based rather than stipulating security over a particular asset. The person who signs the guarantee is personally responsible if the business the borrower fails to pay back the debt.

    The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted in accordance with the date on which a security interest has been registered.

    An affidavit is an official document that is filed to offer the public notice of a legal claim to property.

    What is a pre-approval minus Credit Check?

    If you’re seeking larger company loans of $250,000 or more we may be able to provide a preliminary pre-approval to help smooth out the process. We might be able to do this without a credit check and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health questions. It is neither an offer nor a guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer you might receive could be on different conditions.

    The application process

    Do I have the right to receive funds?

    You are eligible to apply for a company loan if you;

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

    How do I apply?

    The application process is simple and simple. Just fill out the online application in few minutes and an experienced company lending specialist will call you to help you.

    To apply for up $100,000, you’ll need ID 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 need:

    $100K-$250K: Details of 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 and 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, plus interim current financial year financials such as age-related payables and aged Receivables Summary.

    How quickly will I receive an answer?

    For an unsecured loan ($5K or more) We can usually offer a response in one hour if you make your application at quality business timings and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements , we’ll be able to offer an answer within one business day.

    For the Larger Business Loan ($100K up to $500,000) we may be in a position to provide you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain agreements have been approved within just 24 hours.

    The quickest way to apply can be make sure you apply during normal company hours. Also, let us use the advanced bank verification system to instantly verify your bank account information online. If you decide to send us documents from your account statements , it may take a bit longer.

    How soon will I receive the funds?

    For the Small Business Loan ($5K to $100K) We can usually offer an answer in just one hour – as long as you make your application in normal business timings and let us use the bank verification system link to immediately verify your bank account information online. If you decide to send us copies of your bank statements, we are able to offer the decision in just an business day.

    If you are applying for Larger Business Loans ($100K up to $500,000) we may be likely to offer you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be faster depending upon the circumstances for each application. Certain offers have been approved within less than 24 hours.

    The quickest method can be ensure you apply during normal business hours. Also, let us use the modern bank verification to verify your bank account information online. If you decide to upload copies of your bank statements it can take a bit longer.

    How much can I borrow?

    We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount we will consider a number of variables that determine how much we can lend you well-being of the company as well as the amount of repayments that your company can support. The total amount of your loan will depend on the specifics the business.

    If you apply for a set amount, we consider a variety of aspects to determine your well-being for your business as well as the amount of repayments your business will be able to support. The amount you receive from the loan will be determined by the specific circumstances of your company.

    Fees & repayments

    How much do you charge for the cost of a company loan?

    When you make an application for our business financing, we’ll assess the risk assessment of your company and provide you with a customised offer including the loan amount, the terms and interest rates. A business loan is an upfront cost loan and you’ll be aware of the total amount to be paid, including any charges, interest rates or fees.

    What is the basis for the rate I will be charged?

    The interest rates on company loans rates depend on several variables like the amount to be that is borrowed, what business assets the money are used to purchase in addition to the industry that the business operates in, how long the company has been running as well as in the event that the business has enough cash flow to pay for the loan, and also the general health or financial standing of the company.

    What are the fees?

    There are no hidden fees for our company loans. You’ll know exactly how much you’ll need to pay, and when, right from the very first day. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments punctually).

    We don’t charge an Application Fee. You can apply for a loan absolutely no upfront cost and no obligation to proceed.

    The Origination Fee covers the costs associated in establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.

    Can I pay off the loan earlier?

    You may choose to pay back all of your loan early at any time.

    If you do decide to pursue this option, please talk to one of our helpful business credit specialists. We will offer you with details for repayment along with an early payout estimate. The figure will be calculated as the total of the principal amount remaining and the accrued interest up to the time of early payment and 1.5 percent of the principal remaining and any outstanding fees.

    What is the process for repayments?

    To help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from your nominated business account.

    Security & privacy

    Will my information be secure?

    The security of your personal information, as well as being clear about how we collect information, use it, and exchange it, as well as safeguard your data, is of paramount importance and an integral part of our relationship you.

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

    Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system to instantly verify your bank account information online to provide a fast response.

    About business loans

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

    Asset-based borrowing occurs when an business owner makes use of the assets they have to obtain the funds for a loan. The asset may be a personal asset like the family home, or an business asset such as a vehicle or piece or equipment.

    The majority of lending institutions, including the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan then your assets could be offered for sale by the lender. In essence it’s means of securing new funding using the worth of the asset you already own.

    Do I require security for a company loan?

    For loans that exceed $150K, there is no requirement for asset security prior to the loan’s access however, we do need an individual guarantee. So long as you comply with your loan obligations (as stipulated in the loan contract) Asset security is not required. For loans that exceed $150K, typically, you will need the option of a personal guarantee and security in the form charges on assets.

    Industries we currently aren't able to help with

    • Adult related industries
    • Auction websites and auction houses
    • Debt collection firms & debt purchasers
    • Direct marketing including telemarketing, fundraising, mail order, direct-mail etc
    • Finance institutions and lenders
    • {Firearm related businesses
    • Foreign currency exchange solutions
    • Customs clearing houses & freight forwarding
    • Anything gambling related
    • Non-profit organisationsincluding charities, churches etc.
    • Smash repairers & panel beaters
    • Pawn shops & pawnbrokers
    • Property developers
    • Investment business, shares & stockbrokers
    • Tattoo studios
    • Ridesharing & taxi services
    • Ticket resellers & entertainment sales
    • Towing services
    • Secondhand automotive dealerships
    • Car glass tintingcompanies
    • Vehicle dismantlers

    We can’t assist with an unsecure business loan in these types of industries, we may be able assist by providing an secured business loan.

    NZ Business Loan Brokers Services

    Unsecured Business Loans

    Unsecured Business Loans

    Eligibility Requirements

    Eligibility Requirements

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    Apply Now

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    Contact Us

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    0800 102 591






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