A Koongamia unsecured business loan is simple and quick in applying for. Approve your loan in a matter of minutes and use the money in your company.
What to expect:
The eligibility requirements for an unsecured business loan to be made in Koongamia are fairly minimal.
Call Now 1300 275 411Applying for an company loan in Koongamia with us is simple and only takes a few minutes, no mountains of paperwork or queues.
Be approved and receive your cash within 1-2 company days.
We want to assist Koongamia businesses of all kinds, from small to medium-sized solopreneurs access money quickly, so that they can make use of the loan to expand and grow.
The criteria for eligibility for an unsecured business loan in Koongamia of between $5K and $100K is fairly low.
Need more funds? Take a look at the eligibility requirements for our $100K to $500K business loan.
The criteria to be eligible in the larger Koongamia business loans of between $100K and $500K consist of:
Are you looking for a lower amount of money? Look over the guidelines for eligibility for our $5K to $100K Koongamia unsecured business loans.
A Koongamia unsecured loan is great for almost every company use. Talk to us today.
Are you looking to start one of these idea as quickly as tomorrow? Contact us or apply online now for the quickjest fasted way.
All you need to start is your contact details (the name of your company, your name, email address and phone) as well as the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are but not before we can begin:
Once we’ve started in the process, for loans greater than $150,000 you’ll need basic financial statements.
Let’s get started now.
In the wake of traditional lenders and banks tightening credit conditions and the constant stream of alternative and non-bank loan providers that are entering the market offers the perfect source to take advantage of.
Koongamia SME’s are now being able to get finance from alternate lenders servicing Koongamia who are focused on facilitating business growth or smoothing out cash flow issues. In the past, personal credit sources (drawing equity from the home loan, or by using credit cards, personal loans and loans) provided the most viable alternative funding solutions in Koongamia that were around.
There’s not a requirement in the present to rely on the real estate market to secure company loan. With an unsecured loan, business funding is made simple. Instead of a loan for a term with the bank, business finance for an SME with interest rates and loan terms that can help to manage cash flow are around as business credit options.
There are many benefits by separating personal and company debt.
Lower your risks, make tax time simpler, start with an unsecured busines loan. Make an application today.
One big drawcard for keeping your individual and business assets apart is that your home isn’t necessarily tied up to access the funds. For a modest business loan in Koongamia up to $100K, asset security will not be needed as long as the borrower meets the loan requirements.
Businesses will be in a favourable long-term position if they can demonstrate good credit/debt serviceability.
The separation of personal as well as company finances makes it much more seamless with regards to tax time - particularly when determining the tax deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has outlined the guidelines on the proof required to claim deductions on an organisation’s tax return. This is an area that the IRD has specifically advised on.
Effective management of cash flows is crucial to the long-term survival of any company. Through keeping your personal finances and business finances separate, companies can easily view how they are performing, monitor and plan on the ability to effectively assess their cash flow position.
Koongamia unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
Apply to this Small Business Loan in under 10 minutes online or by phone. You will receive a same day response and the money could be in your account in 24 hours. Traditional company loans reference an interest rate per annum together with additional fees and charges. We offer a company loan is an upfront priced loan so you will be aware in advance of the total amount to be paid, including any interest, fees or charges. Then, it is divided into a daily or weekly payment amount.
The Small Business Loan can be used for almost any company use, including control of cash flow business remodels and marketing 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 size of loan that can be used to fund company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly to work with your situation.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your company needs to have been in operation for at least 3 years, and have an annual income of at least $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 of proving at the least 12 months of operating.
A larger company loan can be used to fund almost any company purpose including business renovations, to purchase new equipment or inventory, as general working capital, and much more. The loan is not available for personal use.
Asset security is needed to obtain funding above $150,000. This can be done by way of charge against assets, and could include the registration of this on the PPSR or making as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is general in nature rather than stating the security for a particular asset. The person who is signing the guarantee is personally liable in the event that the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be granted according to the date the security interest that is registered.
Caveats are legal document lodged to provide an official notice of a claim to a property.
If you’re requesting larger company loans that exceeds $250K it is possible to offer an initial pre-approval in order to smooth out the process. We may be able to do this without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health checks. It’s not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer you receive could be subject to different terms.
You can apply for an business loan if you:
The application process is quick and simple. Complete the online form within a couple minutes, and an experienced business credit specialist will call you to assist you.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details for application including credit consent twelve months of bank statements, IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within an hour, provided you submit your request in standard company time and let us make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements , we are able to offer an answer within just the span of one business day.
If you are applying for a Larger Business Loan ($100K or more) we might be likely to provide you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Some agreements have been approved in 24 hours.
The fastest way would be to ensure you apply during normal company hours. Also, allow us to use the modern bank verification link to verify your bank information online. If you choose to send us duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide an answer within an hour, provided you apply in standard business time and let us use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements we can provide a decision within 1 business day.
For Larger Business Loans ($100K or more) we could be able to provide the conditional pre-approval in about six hours. Once you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Certain agreements have been approved within the space of 24 hours.
The fastest method for you to apply is make sure you apply during normal business hours. You can also allow us to use the advanced bank verification system to instantly confirm your bank details online. If you choose to upload the copies of bank statement, it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we take into consideration a range of aspects to determine how much we can lend you health of your business as well as the amount of repayments your business is able to afford. The total amount of your loan will depend on the specific circumstances for your company.
When you apply for a specific amount we take into consideration a variety of aspects to assess how much we can lend you such as health that is your company and the level of repayments that your business can support. The amount you receive from your loan will be determined by the specific circumstances for your business.
If you decide to make an application for business loans with us company loan, we’ll assess the risk assessment of your business and offer you with a customised proposal that includes the amount of loan, the term and the interest rates. It is a company loan is a loan that is priced upfront therefore you will be aware of the total amount to be paid, including any charges or interest.
The interest rates on company loans rates differ based on various variables like the amount to be of money borrowed, the business assets the money are used to purchase and the sector the company is in, how long the company has been in operation and in the event that the business has enough cash flow to cover the loan, and also the general well-being or creditworthiness of the company.
There are no hidden fees for our company loans, and you’ll know exactly how much it is that you need to pay, and when, right from the day you sign up. There’s no compounding and the loan comes with no additional fees (as as you make your payments on time).
We do not charge an application fee. You are able to make an application for loans no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You may choose to pay back the entire amount of the loan in full at any time.
If you decide to do this please contact our helpful company lending experts. They will offer you with the details of your repayment and an early payout figure. This is calculated as the total of the remaining principal amount plus any accrued interest as of the time of early payment and 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line your cash flow cycle we offer repayments either weekly or daily. They will be automatically deducted from the nominated company account.
Making sure that your information is secure, and being clear about how we collect, use, exchange and protect 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 financial and other data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We make use of an advanced bank verification system that allows you to immediately confirm your bank account information online to provide a fast response.
The term "asset-based" refers to borrowing where an company owner borrows from an asset that they own to secure the loan. The asset can be an individual property, such as the family home or an business property like a truck as well as a piece of machine.
The vast majority of the lenders not just the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan, your assets could be sold by the lender. In essence, it is an opportunity to secure new financing taking advantage of the value of what you already own.
For loans up to $150K it is not necessary to secure assets prior to the loan’s access however, we do need an individual guarantee. If you adhere to your loan obligations (as detailed in your loan contract), asset security is not required. If you take out loans in excess of $150,000 generally there is personal ensure and security is provided in the form of charges on assets.
We can’t assist with an unsecure business loan for the above industries, we might be able to assist with an secured business loan.
