Services in Tawa
- Tawa Unsecured Business Loans
- Business Finance Tawa
- Tawa Business Lending
- Business Loans Tawa
- Tawa Small Business Finance
- Tawa Business Funding
- Tawa Working Capital
- Tawa Small Business Lending
- Tawa Short Term Business Loan
The requirements for getting an unsecured business loan in Wellington of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K company credit.
All that’s needed to start is your contact information (company name, your name, email address and telephone) along with the amount you’d like to borrow, and your monthly revenue.
During the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
Once we’ve started in the process, for loans that exceed $150,000, you’ll also require the following financial statements:
Let’s get started.
Wellington unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
Apply to get the Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and the money could be in your account in 24 hours. Traditional business loans have an annual rate of interest plus other fees and charges. Our business loan is an upfront priced loan therefore you’ll know ahead of time the total amount to be paid, including any interest, fees or charges. This is then divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used to fulfill almost every business purpose including cash flow management, business remodeling, marketing to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
To qualify for a loan of this size the company needs to have been operating for at least three years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large company loan can be used for almost any company purpose including 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 needed to obtain funding above $150,000. This can be done by taking a charge against assets and can be registered on the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally in nature rather than stating security over a particular asset. The person who is signing the guarantee is personally liable if the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including objects or assets). The PPSR gives preference over private property granted according to the date a security interest was registered.
An affidavit is an official document filed to offer notice of a legal claim to a property.
If you’re applying for larger company loans of more than $250,000 we can offer an initial pre-approval in order to make the process. It is possible to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial well-being questions. This is in no way an offer, nor is it a guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you might receive could be on different conditions.
You may apply for a company loan if you;
The application process is simple and easy. Complete the online form within a couple minutes, and an experienced business expert in lending will be in touch to guide you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s Licence) and a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $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: Information on the application including credit consent and 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, plus interim financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) We can usually offer a response in one hour, provided you make your application within standard business times and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statement, we’ll offer a decision in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K and up) we may be in a position to provide the conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be quicker based upon the circumstances for each application. Some offers have been approved in the space of 24 hours.
The quickest way to apply is to ensure you apply during standard company hours and allow us to use our advanced bank verification system to instantly confirm your bank details online. If you upload copies of your bank statement, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer in just one hour, provided you submit your request during standard business hours and permit us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements we can offer a decision in just 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be in a position to offer the conditional pre-approval in about 6 hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this may be quicker depending on the particular circumstances of each application. Some transactions have received approval within 24 hours.
The quickest method would be to make sure you apply during normal business hours, and allow us to use our advance bank verification link to verify your bank information online. If you send us duplicates of your banking statement, it can take a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a specific amount we will consider a number of variables for determining what is the health of the business and the extent of the repayments your company will be able to support. The total amount of your loan will be contingent on the particular circumstances for your company.
If you apply for a set amount, we consider a variety of variables to determine how much we can lend you such as well-being that is your company and the level of repayments your company can afford. The amount you receive from your loan will be determined by the specifics of your business.
When you apply for the business financing, we will assess the risk assessment that you have for your company and offer an individualised offer including loan amount, term and the interest rates. This company loan is an upfront cost loan therefore you will know in advance the total amount to be paid, including any interest rates, fees or charges.
Interest rates for company loans rates vary due to factors like the amount of money of money borrowed, the company assets the money will be used for, the industry the business is operating in, how long the company has been in operation as well as whether the business has enough cash flow to fund the loan, and also the overall health as well as creditworthiness business.
There are no hidden costs for our business loans. You’ll know exactly how much you’ll need to pay, and at what time, from day one. There’s no compounding interest and there are no additional charges (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You are able to apply for a loan with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the entire amount of your loan early at any time.
If you are deciding to take this route, please speak to our friendly company loan professionals. We will provide you with details on repayment along with an early payout estimate. This will be calculated as the sum of the principal amount remaining and any accrued interest at the time of early payment in addition to 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow schedule, we offer repayments either daily or weekly. They are automatically deducted from your designated business account.
The security of your personal information, as well as knowing how we collect the information we collect, use, share and ensure the security of your information is crucial and is a crucial part of our relationship you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account information online, allowing us to offer rapid response.
Asset-based borrowing occurs when the company owner makes use of the assets they have to get the loan. The asset can be an asset belonging to the personal, like the family home or it could be a company asset like a truck as well as a piece of machine.
The majority of lenders, even the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan then your asset may be offered for sale by the lender. In essence, it is the process of securing new financing using the worth of the asset you already own.
For loans up to $150,000 no asset security is required before you can access the money, however we do need the personal guarantee. If you adhere to your loan commitments (as detailed in the loan contract) Asset security will never be needed. For loans of over $150,000 typically, you will need the option of a personal guarantee and security in the form charges on assets.
