A West Lakes unsecured business loan is quick and easy to obtain. Apply for a loan quickly and begin using the money for your business.
What you can expect:
The eligibility requirements for an unsecured business loan within West Lakes are fairly minimal.
Call Now 1300 931 922Requesting a company financing within West Lakes with us is easy and takes just a few minutes, no mountains of paperwork or queues.
Receive approval and funds in one to two company days.
Our goal is to assist West Lakes businesses of all kinds, including medium, small and even solopreneurs 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 West Lakes of between $5K and $100K are fairly minimal.
Do you need more money? Take a look at the eligibility requirements for our $100K-$500K business financing.
The criteria for eligibility of the larger West Lakes business loans of between $100K to $500K comprise:
Are you looking for a lower amount of funding? Look over the guidelines for eligibility for our $5K-$100K West Lakes unsecured business loans.
A West Lakes unsecured loan is great for nearly any company purpose. Get in touch with us today.
Are you looking to start one of these as soon as tomorrow? Get in touch with us now or apply online to get the fastest and most efficient process.
All you need to begin is your contact information (company name, your name, email and telephone) and the amount you’d like to lend, and your monthly earnings.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
Additionally after we get started with loans of more than $150,000 you’ll require fundamental financial statements:
Let’s get started.
With traditional and bank lenders increasing their credit requirements and the constant stream of non-bank and alternative loan providers that are entering the market provides an incredible source for you to access.
West Lakes SME’s are now in a position to obtain finance via alternative lenders who service West Lakes who are focused on enabling business growth or smoothing out cash flow challenges. In the past the personal sources of credit (drawing equity from the home loan or credit cards and personal loans as well as overdrafts) was the sole alternative financing solutions in West Lakes that were available.
There is now no requirement in the present to depend on real estate to secure business loans. With an unsecured loan business funding is made simple. Instead of a term loan through the bank, business finance for an SME with interest rates and loan terms that help to manage cash flow are available as business lending options.
There are substantial benefits associated in separating personal from business debt.
Limit your exposure, make the tax process much easier. Get started with an unsecure loan for business. Get it today.
The main benefit of keeping your business and personal business assets apart can be that your home does not have to be tied to access the funds. For a modest business loan within West Lakes up to $100K, asset security will not be required as long as the borrower is able to meet their loan obligations.
Businesses will be in a favourable long-term financial position if they are able to demonstrate credit/debt capability.
Separating personal and company finances makes it significantly more straightforward in the event of tax time, especially when it comes to determining the tax deductible allocation. The IRD has outlined the requirements for evidence to be able to claim deductions on a business’s tax return. This is an area that the IRD has advised specifically on.
Effective management of cash flows is crucial to the longevity for any business. Through keeping personal and company finances separate, businesses can easily view, monitor and plan based on the ability to effectively determine their cash flow status.
West Lakes unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
You can apply to get this Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and the money could be available in just 24 hours. Traditional business loans reference an annual rate of interest along with other charges and fees. We offer a company loan is an upfront priced loan which means you know in advance the total amount due, which includes the interest, fees and charges. Then, it is broken down into weekly or daily payment amount.
It is a Small Business Loan can be used for nearly any business purpose including managing cash flows, company remodeling, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size the company needs to have been operating for a minimum of 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger business loan can be used for almost any company use, including company renovations, to purchase equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary for funding of more than $150,000. It is usually as a result of an charge against assets, and could include registering this on the PPSR or filing a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature rather than stipulating the security of a specific asset. The person who signs the guarantee is personally liable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including items or assets). The PPSR grants preference over private property granted depending on the date that a registration of a security interest.
The caveat can be described as a formal document filed to provide notice of a legal claim on a property.
If you’re requesting the Larger Business Loan of more than $250K we can offer a preliminary pre-approval to help smooth out the process. It is possible to do this without a credit check, and within six hours of your initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial well-being questions. It’s neither an offer nor a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you might receive could have different terms.
You may apply for an company loan if you:
The application process is quick and easy. Just fill out the online application in just a few minutes, and a dedicated company credit specialist will be in touch to assist you.
To be eligible for up to $100,000, you’ll require ID details (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, and interim financials for the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) we typically provide an answer within one hour, provided you submit your request during standard company time and permit us to utilise the bank verification system link to instantly verify your bank information online. If you opt to send us copies of your bank statement, we’ll offer an answer within just the span of one company day.
For the Larger Business Loan ($100K or more) we may be likely to provide the conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, it could be faster based on the specifics of each application. Some deals have been approved in just 24 hours.
The fastest way can be make sure you apply during normal company hours and allow us to use our advanced bank verification system to check your bank’s information online. If you upload documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer in just one hour – as long as you make your application in standard business times and permit us to utilise the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements we can provide a decision in just the span of one business day.
For Larger Business Loans ($100K to $500K) we may be capable of provide the conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain agreements have been approved within less than 24 hours.
The fastest method is to ensure you apply during standard business hours, and allow us to use the advance bank verification link to instantly confirm your bank details online. If you decide to upload copies of your bank accounts, it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of elements for determining how much we can lend you health of your company and the extent of repayments your business can support. The amount you receive from the loan will be determined by the specific circumstances for your company.
When you make an application for a set amount, we take into consideration a variety of aspects to assess the well-being 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 specifics that are unique to your business.
If you decide to make an application for the business loan, we will assess the risk assessment of your company and provide you with a customised proposal that includes loan amount, term and the interest rates. This company loan is an upfront cost loan and you’ll know the exact amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates vary due to factors such as the amount that is borrowed, the business assets the funds are used to purchase in addition to the industry that the business is operating in, how long the company has been in operation and in the event that the company has sufficient cash flow to support the loan, and also the overall well-being as well as creditworthiness business.
There are no hidden costs with our company loans, and you’ll know exactly how much you’ll be required to pay, and at what time, from the first day. There’s no compounding and no additional fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You can apply for a loan with without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the total amount of your loan at any point in time.
If you decide to do this please speak to our friendly company credit specialists. The experts will offer you with details for repayment and an early payment figure. This will be calculated as the total of the principal amount remaining and any accrued interest at the time of the early payout plus 1.5% of the principal amount remaining as well as any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments that are either weekly or daily. They are automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and is a crucial part of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and security. We employ an exceptionally sophisticated banking verification system to immediately confirm your bank account information online. This allows us to provide an immediate response.
An asset-based loan is when a company owner uses the assets they have to obtain the funds for a loan. The asset may be an asset belonging to the personal, like the family home, or an company asset such as a truck or piece or equipment.
The majority of the lenders not just the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence it’s an opportunity to secure new financing using the value of what you already own.
For loans of up to $150,000, it is not necessary to secure assets prior to the loan’s access, however we do require a personal guarantee. As long as you follow the loan terms (as stated in the loan contract) and you are able to meet your obligations, asset security is not required. For loans that exceed $150K, generally, you can get the option of a personal guarantee and security is provided in the form of an asset charge.
We can’t assist with an unsecure business loan in the above industries, we might be able to assist with the secured business loan.
