A Lexia unsecured business loan is quick and easy to apply for. Get a quick apporval and use the money to grow your company.
What to expect:
The eligibility requirements for an unsecured business loan within Lexia are fairly minimal.
Call Now 1300 275 411Requesting a company loan within Lexia with us is easy and takes just about a couple of minutes, there are no piles of paperwork or long waits.
Receive approval and funds within 1 – 2 business days.
We want to assist Lexia businesses of all sorts small, medium even entrepreneurs to obtain money quickly, so that they can make use of the loan to expand and grow.
The eligibility requirements for an unsecured business loan in Lexia of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company loan.
The criteria to be eligible in loans from larger Lexia company loans of between $100K and $500K include:
Do you require a smaller amount of funds? Take a look at the eligibility requirements for our $5K to $100K Lexia unsecured business loans.
A Lexia unsecured loan is great for nearly any company use. Get in touch with us today.
Want to get started on one of these projects as soon as tomorrow? Get in touch with us or send your application online to apply the fastest, most convenient way.
All you need for starting is your contact information (company name, your name, email or phone number) as well as the amount you’d like to borrow, and your monthly earnings.
Through the process and before settlement we will need confirmation of who you are, but not for starting:
Once we’ve started in the process, for loans of more than $150,000 you’ll also need basic financial statements.
Let’s get started now.
With banks and traditional lenders restricting credit The steady flow of alternative and non-bank loan providers entering the market provides a great resource for you to make use of.
Lexia SME’s are now being able to get finance from alternative lenders who service Lexia who are focused on facilitating company growth or smoothing the cash flow problems. In the past, when personal credit sources (drawing equity from the house loan, or using credit cards and personal loans as well as overdrafts) were the only alternative financing solutions within Lexia that were available.
There is now there is no need to rely on the real estate market to secure business loans. With an unsecured loan, business funding is simple. Instead of a traditional term loan from the bank, business finance for an SME with interest rates and loan terms that help with cash flow are available as business credit options.
There are numerous benefits with the separation of personal and company debt.
Lower your risks, make tax time more simple, apply for an unsecured busines loan. Make an application today.
One of the main benefits of keeping your personal and business assets separate will be the fact that your home isn’t required to be tied to access the funds. For a modest business loan within Lexia up to $100K an asset security agreement will not be needed as long as the borrower is able to meet their loan obligations.
Companies are in a favourable long-term position if they can demonstrate good credit/debt serviceability.
Separating personal and company financial accounts makes it more seamless when it comes to tax time - particularly when determining what is the tax-deductible amount. Particularly when determining what is the tax deductible allocation. IRD has set out guidelines on the proof required in order to deduct deductions from an individual’s tax return. This is an area that the IRD have specifically advised on.
A well-organised cash flow management system is crucial to the long-term success in any business. Through keeping personal and company finances distinct, businesses can easily view how they are performing, monitor and plan on the ability to effectively determine their cash flow status.
Lexia unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
It is imaginable to apply to get your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and the funds could be in your account within 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. The company loan is an upfront priced loan and you’ll be aware in advance of the total amount to be paid, including any interest, fees or charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used for almost every company purpose including cash flow management, company remodels and marketing to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To be eligible for a loan that is this large, your business needs to be trading for at least 3 years, and have an annual income of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Business Loan of a larger size is a great option for almost every company reason, such as company 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 necessary to obtain funding above $150,000. This can be done in the form of a charge against assets and can be registered in the PPSR or the registration of a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is general in nature, rather than defining the security for a particular asset. The person who signs the guarantee is personally liable in the event that the business borrower is unable to re-pay 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 the assets or goods). The PPSR grants preference over private property assigned in accordance with the date on which a security interest has been registered.
Caveats are legal document filed to provide the public notice of a legal claim to property.
When you’re applying for the Larger Business Loan that is greater than $250,000 it’s possible to offer a preliminary pre-approval to help make the process. We might be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves answering a couple of financial health checks. It’s in no way an offer, nor is it a guarantee of finance. Unconditional approval is subject to an extensive credit evaluation and any offer you receive could be on different terms.
You may apply for an business loan if you:
The application process is simple and simple. Simply complete the online form within a couple minutes, and a dedicated company credit specialist will call you to guide you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent and 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) We can usually offer a response in one hour – as long as you make your application in quality business time and you allow 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 provide an answer in as little as the span of one business day.
For Larger Business Loans ($100K and up) we may be in a position to offer you with conditional pre-approval in around 6 hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Some offers have been approved in 24 hours.
The quickest method can be ensure you apply during standard company hours. You can also allow us to use the advance bank verification link to check your bank’s information online. If you decide to upload copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within an hour if you submit your request within standard business timings 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 bank statements, we’ll be able to provide a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be able to offer the conditional pre-approval in around six hours. Once you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain deals have been approved within 24 hours.
The fastest method would be to ensure you apply during normal business hours and allow us to use our modern bank verification to verify your bank information online. If you upload the copies of bank statements, it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a particular amount, we look at a variety of aspects in order to assess your well-being of the business and the extent of payments your company is able to afford. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
When you submit an application for a set amount, we take into consideration a variety of factors to determine how much we can lend you such as well-being that is your business and the level of repayments that your business can support. The total amount of your loan will depend on the specific circumstances of your business.
If you decide to make an application for our business loan, we’ll assess the risk profile the business and offer an individualised offer including the amount of the loan, the duration and interest rates. It is a company loan is a loan that is priced upfront which means you be aware of the total amount to be paid, including any charges or interest.
Interest rates for company loans rates differ based on various variables like the amount to be borrowed, the business assets the funds are used to purchase and the sector the business operates in, the long the company has been in operation for, in the event that the business has enough cash flow to fund the loan, and also the overall health or creditworthiness of the company.
There aren’t any hidden costs with our business loans. You’ll know precisely what you be required to pay, and when, starting from the first day. There’s not any compounding interest and no additional fees (as long as you make your payments in time).
We don’t charge an application fee. You can make an application for loans absolutely no upfront cost and no any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the entire amount of the loan at any point in time.
If you choose to pursue this option, please contact our helpful business credit experts. The specialists will provide you with details on repayment and an early payout figure. This is calculated as the sum of the principal remaining and the accrued interest up to the date of early payout and 1.5% of the principal remaining plus any outstanding fees.
To make sure that you don’t miss payment dates and to align your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to security for our clients and security. We utilise a sophisticated bank verification system link to immediately verify the bank account details online to offer a fast response.
Asset-based borrowing is when a company owner utilises an asset that they own to get the funds for a loan. The asset may be an asset belonging to the personal, like the family home or an business asset like a truck as well as a piece of machine.
The majority of banks, including the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan, then your assets could be taken over by the lender. In essence it’s an opportunity to secure new funding taking advantage of the value of what you already have.
For loans that exceed $150,000, the requirement for asset security is not required upfront to access the money but we do need a personal guarantee. In the event that you fulfill the terms of your loan (as specified in the loan contract) the security of assets will never be needed. If you take out loans in excess of $150K typically, you will need personal ensure and security in the form of charges on assets.
Although we can’t help with an unsecure business loan in these types of industries, we may be able to help you with the secured business loan.
