A Boya unsecured business loan is easy and quick to get. Apply for a loan quickly and use the money for your company.
You can expect:
The eligibility requirements for an unsecured business loan within Boya are fairly minimal.
Call Now 1300 275 411The process of applying for a business financing in Boya with us is easy and takes only about a couple of minutes, there are no long lines of paperwork or waiting in line.
Be approved and receive your money within one to two business days.
We want to assist Boya companies of all kinds, including medium, small and even solopreneurs access funding fast so they can use the loan to grow and build.
The criteria for eligibility for an unsecured business loan in Boya of between $5K to $100K are quite minimal.
Need more funds? Check out the conditions of eligibility for our $100K-$500K business loans.
The criteria for eligibility of larger Boya company loans of between $100K to $500K comprise:
Do you require a smaller amount of funding? Find out the guidelines for eligibility for our $5K to $100K Boya unsecured business loans.
A Boya unsecured loan is ideal to use for any business need. Contact us now.
Want to get started on one of these options as early as tomorrow? Get in touch with us now or apply online to get the fastest and most efficient process.
All you need to start is your contact information (company name, your name, email address and phone) as well as the amount you want to borrow, and your monthly revenue.
In the course of the process and before settlement we will need confirmation of who you are but not for starting:
Once we’ve started with loans over $150,000 you’ll also require basic financial statements:
Let’s get started.
With banks and traditional lenders tightening credit conditions and the constant stream of non-bank and alternative loan providers that are entering the market offers an excellent source for you to make use of.
Boya SME’s are now capable of accessing finance through other lenders in Boya who are focused on enabling company growth or smoothing out cash flow challenges. In the past, when private credit options (drawing equity from a house loan or credit cards, personal loans and the overdraft) could be the best alternative financing services in Boya that were around.
There’s no need to rely on using real estate to secure company loan. With an unsecured loan, business financing is easy. Instead of a term loan through banks, business finance for a small company with interest rates and loan terms that aid in cash flow are around as business loans.
There are substantial benefits associated with separating personal and company debt.
Reduce your risk, make the tax process much easier. Get started with an unsecure busines loan. Make an application today.
One big drawcard for keeping your individual and company assets separate will be the fact that your home isn’t tied to access the funds. If you’re looking for a small business loan within Boya up to $100K, asset security will not be required as long as the borrower meets their loan obligations.
Businesses are in a more advantageous long-term situation if they can demonstrate good credit/debt capacity to pay.
The separation of personal as well as business finances makes it more seamless when it comes to tax time - particularly when determining what is the tax-deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has set out requirements for evidence to be able to claim deductions on an organisation’s tax return. This is a subject that the IRD have specifically advised on.
A well-organised cash flow management system is key for the long-term viability in any company. By maintaining personal as well as business finances separate, companies can easily view, monitor and plan based on the ability to clearly assess their cash flow position.
Boya unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes online or by phone. You will receive an answer within the same day and have the funds in your account within 24 hours. Traditional business loans are based on an annual rate of interest as well as other fees and charges. We offer a company loan is a cash-based loan which means you be aware of the total amount to be paid, including any fees, charges or charges. This is then broken down into either weekly or daily installment amount.
It is a Small Business Loan can be used for almost any business purpose including cash flow management, company improvements, advertising to purchase inventory, 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 amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size, your business needs to have been operating for at least three years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large business loan is a great option for almost all company need, including company renovations, purchase of inventory or new equipment for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed for funding of more than $150,000. This can be done by way of charge against assets and can include registering this on the PPSR or registering a caveat.
A director’s or personal ensure is a promise to pay back a loan that is general in nature rather than defining security over a particular asset. The person who is signing the guarantee is personally responsible if the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including objects 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 form of document to offer notice of a legal claim to property.
When you’re applying for the Larger Business Loan that is greater than $250K, we may offer an initial pre-approval to ease the process. It is possible to make this decision without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves answering a couple of financial health checks. This is not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you receive could be subject to different terms.
You may apply for a company loan if you:
The application process is quick and simple. Simply complete the online form in just a few minutes, and an experienced business expert in lending will call you to help you.
To apply for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence), an NZBN/IRD that is valid and at least six months of bank statements.
For larger loan sizes, you’ll also require:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, in addition to interim financials from the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) We can usually provide an answer in just one hour if you submit your request at standard business time and allow us to utilise the bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements , we are able to provide the decision in as little as an business day.
For the Larger Business Loan ($100K or more) we may be capable of provide you with a conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this can be quicker based on the circumstances of each application. Some agreements have been approved within less than 24 hours.
The most efficient method is to ensure you apply during standard company hours. You can also allow us to use the advanced bank verification system link to confirm your bank details online. If you send us duplicates of your banking accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour, provided you submit your request during normal business times and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements, we will be able to provide the decision in as little as the span of one business day.
For the Larger Business Loans ($100K or more) we could be able to provide you with pre-approval conditional to your application in about six hours. After you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, this can be faster depending on the circumstances of each application. Some transactions have received approval in less than 24 hours.
The fastest method would be to ensure you apply during normal business hours. You can also permit us to use the advance bank verification link to verify your bank information online. If you send us duplicates of your banking accounts, it takes a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a specific amount we take into consideration a range of factors that determine what is the health that is your company and the extent of repayments that your company can support. The amount you receive from the loan will be determined by the particular circumstances the business.
When you make an application for a particular amount, we will consider a number of variables to assess your well-being for your company and the extent of repayments your company is able to afford. The total amount of your loan will be determined by the specific circumstances that are unique to your business.
When you make an application for one of our company financing, we’ll assess the risk profile of your business and offer you with a tailored offer, including loan amount, term and interest rates. A business loan is a loan that is priced upfront and you’ll know in advance the total amount to be paid, including any charges or interest.
Interest rates for company loans rates depend on a variety of variables like the amount to be borrowed, what business assets the money are used to purchase and the sector the business operates in, how long the business has been in operation and how long the business has sufficient cash flow to support the loan, as well as the general well-being and creditworthiness of the business.
There aren’t any hidden costs for our company loans, and you’ll know exactly how much you’ll need to pay, and when, from day one. There’s no compounding interest and no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You are able to request a credit loan no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can choose to repay the total amount of your loan at any point in time.
If you decide to pursue this option, please call our helpful company loan professionals. They will provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal amount remaining plus any accrued interest as of the date of early payout, plus 1.5% of the principal remaining and any fees that remain unpaid.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your designated business account.
Protecting your information, and knowing the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of huge importance and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system that allows you to instantly verify your bank account information online so we can offer an immediate response.
Asset-based borrowing occurs when an business owner borrows from an asset they own to make the loan. The asset may be an individual asset, such as the family home or it could be a company asset such as a truck or piece of equipment.
The majority of the lenders even the big banks, tend to make loans secured by an asset. If you’re struggling to pay back the loan then the asset might be taken over by the lender. In essence, it’s a way of securing new financing making use of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security before you are able to access the money, however we require a personal guarantee. require an individual guarantee. If you adhere to your loan obligations (as detailed in your loan contract document) Asset security is not required. For loans of over $150,000 generally, you are able to get personal guarantee and security in the form an asset charge.
Although we can’t help with an unsecure business loan in these industries, we may be able to help you by providing the secured business loan.
