The criteria for eligibility for an unsecured business loan in Lower Hutt of between $5K and $100K are pretty minimal.
Looking for more funding? Review the conditions of eligibility for our $100K-$500K business financing.
All you need for starting is your contact details (the name of your company, your name, email address or phone number) along with the amount you’d like to lend, and your monthly earnings.
In the course of the process and before settlement we will require confirmation of your identity however, not in order to begin:
Once we’ve started with loans of more than $150,000 you will also need basic financial statements:
Let’s get started.
Lower Hutt unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and the funds could be in your account in 24 hours. Traditional company loans are based on an annual rate of interest as well as other fees and charges. Our business loan is a cash-based loan so you will know ahead of time the total amount payable including the interest, fees and charges. This is then broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost every company purpose including the management of cash flow, business remodeling, marketing, to purchase inventory or new equipment, to fund 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 company growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
To be eligible for a credit in this amount the company needs to be in operation for at least 3 years and generate an annual revenue of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost all company use, including business remodeling, buying new equipment or inventory as well as for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It’s as a result of an charge against assets, and could include registration through the PPSR or filing as a caveat.
A personal or director’s ensure is a promise to pay back a loan that is generally based rather than specifying security over a particular asset. The person who is signing the guarantee is personally liable if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including items or assets). The PPSR gives priority over personal property to be assigned according to the date a security interest has been registered.
An affidavit is an official document that is filed to provide an official notice of a claim to a property.
If you’re seeking an enterprise loan of $250,000 or more we may be able to provide a preliminary pre-approval to help ease the process. We could be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial health questions. This is not an offer or guarantee of funds. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you receive could be subject to different conditions.
You are eligible to apply for an business loan if you;
The application process is quick and easy. Complete the online form in just a few minutes, and an experienced company loan specialist will be in touch to help you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details for application including credit consent twelve months bank statement, an IRD statement as well as the two most recent years’ financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually offer a response in one hour, provided you apply during standard company times and you allow us to utilise the bank verification system link to instantly verify your bank information online. If you decide to submit copies of your bank statements , we are able to offer the decision in just 1 company day.
For the Larger Business Loan ($100K and up) we might be in a position to offer you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Certain offers have been approved within less than 24 hours.
The quickest method is to make sure you apply during normal company hours, and allow us to use our advance bank verification to confirm your bank details online. If you opt to send us copies of your bank statements , it will take a little longer.
For the Small Business Loan ($5K or more) we typically offer an answer within an hour, provided you apply within standard business hours and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we will be able to offer an answer within 1 business day.
For Larger Business Loans ($100K to $500K) we could be in a position to provide you with a conditional pre-approval in about six hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be faster depending upon the circumstances for each application. Some offers have been approved in less than 24 hours.
The quickest method is to make sure you apply during normal business hours and allow us to use the modern bank verification to instantly verify your bank information online. If you send us duplicates of your banking statements, it will take a little longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of variables in order to assess what is the well-being for your company and the level of repayments your business can afford. The total amount of the loan will be determined by the specific circumstances of your company.
When you apply for a set amount, we take into consideration a variety of aspects to determine the well-being that is your company and the amount of repayments your business can afford. The amount you receive from your loan will depend on the specifics for your company.
When you request the business credit, we’ll assess the risk assessment of your business and offer you with a tailored offer, including loan amount, term and the interest rates. The company loan is an upfront priced loan which means you be aware of the total amount you will have to pay, including charges or interest.
Interest rates for business loans rates depend on several factors including the amount borrowed, the business assets the money are used to purchase, the industry the business is in, how long the business has been running as well as whether the business has enough cash flow to support the loan, and overall well-being or creditworthiness of the company.
There are no hidden fees with our company loans. You’ll know precisely how much you need to pay and when, right from the very first day. There’s no compounding interest, and there are no additional charges (as long as you make your payments on time).
We don’t charge an application fee. You can apply for a loan with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back all of your loan early at any time.
If you decide to take this route, please talk to one of our helpful business lending specialists. They’ll provide you with details for repayment along with an early payout estimate. The figure will be calculated as the sum of the principal balance and any accrued interest at the time of early payout in addition to 1.5% of the principal balance and any fees that remain unpaid.
To make sure that you don’t 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 the nominated company account.
Protecting your information, and making it clear the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of huge importance and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We employ a highly sophisticated banking verification system to immediately verify your bank account details online, allowing us to offer a fast response.
The term "asset-based" refers to borrowing where a business owner uses an asset they own to get the funding. The asset may be an asset belonging to the personal, like the family home, or a company asset such as a vehicle or other piece of machinery.
The vast majority of the lenders not just the big banks, tend to secure loans against assets. If you’re struggling to pay back the loan, the asset might be taken over by the lender. In essence, it is a way of securing new financing by taking advantage of the value of what you already own.
For loans up to $150K the requirement for asset security is not required prior to the loan’s access However, we do require the personal guarantee. If you adhere to the loan terms (as specified in your loan contract), asset security is not needed. For loans of over $150K generally, you can get personal guarantee and security that is in the form a charge over assets.
