A Lexia unsecured business loan is quick and easy to apply for. Apply for a loan quickly and use the money in your business.
You can expect:
The criteria for eligibility for an unsecured business loan within Lexia are fairly minimal.
Call Now 1300 275 411Applying for an business loan within Lexia with us is easy and takes just a few minutes, no piles of paperwork or long waits.
Approved and receive funds in one to two company days.
We aim to help Lexia businesses of all types, whether small, medium or solopreneurs access funds quickly so that they can take advantage of loans to expand and grow.
The criteria for eligibility for an unsecured business loan in Lexia of between $5K and $100K are pretty minimal.
Do you require more money? Find out the eligibility requirements for our $100K to $500K company credit.
The requirements for eligibility for larger Lexia business loans of between $100K and $500K include:
Are you looking for a lower amount of funding? Check out the eligibility requirements for our $5K to $100K Lexia unsecured company loans.
A Lexia unsecured loan is great for virtually any company need. Get in touch with us today.
Are you looking to start one of these as soon as tomorrow? Then get in touch with us today or send an application online to get the fastest and most effective process.
All that’s needed for starting is your contact information (the name of your company and your name, as well as email and phone) along with the amount you’d like to borrow and your monthly revenue.
Through the process and before settlement we will require confirmation of who you are, however, not in order to begin:
Additionally after we get started in the process, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
With traditional and bank lenders tightening their credit terms, the steady stream of non-bank and alternative loan providers that are entering the market provides a great resource for you to make use of.
Lexia SME’s are now capable of accessing finance through alternative lenders who service Lexia who are focused on facilitating company growth or smoothing cash flow issues. In the past, individual credit providers (drawing equity from a house loan, or using credit cards or personal loans, as well as loans) were the only alternative financing solutions for Lexia that were available.
There is now not a need for you to depend on the real estate market to secure company loan. With an unsecured loan, business funding is simple. Instead of a loan for a term with banks, business finance for a small company with interest rates and loan terms that aid with cash flow are around as business credit options.
There are substantial benefits associated by separating personal and company debt.
Reduce your risk, make the tax process simpler, start with an unsecured busines loan, apply today.
One big drawcard for keeping your business and personal company assets apart will be the fact that your house does not have to be tied for access to the money. For a small business loan within Lexia up to $100K an asset security agreement will not be needed as in the event that the borrower has met the loan requirements.
Businesses will be in a advantageous long-term situation if they can show good credit and debt serviceability.
Separating personal and company finances makes it significantly more straightforward with regards to tax time - especially when it comes to determining the tax-deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has set out the guidelines on the proof required to claim deductions on an organisation’s tax return. This is an area that the IRD has advised specifically on.
Effective cash flow management is crucial to the long-term survival that of any business. By keeping your personal finances and business finances separate, companies can easily view their cash flow, plan and monitor it based on the ability to clearly evaluate their cash flow situation.
Lexia unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
You can apply to get your Small Business Loan in under 10 minutes online or over the phone, receive a same day response and funds may be in your account within 24 hours. Traditional company loans have an annual interest rate together with additional fees and charges. Our company loan is a cash-based loan and you’ll be aware of the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into a daily or weekly installment amount.
The Small Business Loan can be used for almost every business use, including the management of cash flow, company renovations, marketing to purchase inventory, new equipment, for general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large the business needs to be operating for at least three years, and have an annual income of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger company loan can be used for almost all business use, including company improvements, purchasing new equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for accessing funds over $150,000. This is by taking a charge on assets, and may include registration with the PPSR or registering as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature, rather than stipulating security over a particular asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR allows priority over personal property to be granted according to the date a security interest that is registered.
Caveats are legal document lodged to provide notice of a legal claim to property.
If you’re seeking larger business loans that is greater than $250K, we may offer a preliminary pre-approval to help smooth out the process. It is possible to apply for this without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health questions. It 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 are offered could be based on different conditions.
You may apply for an business loan if you:
The application process is fast and simple. Simply complete the online form within a couple minutes, and an experienced business credit specialist will contact you to help you.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details for application including credit consent twelve months of bank records, IRD statements as well as the two most recent years’ financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we typically provide an answer within one hour if you make your application at standard company time and let us utilise the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statement, we’ll provide the decision within one business day.
For the Larger Business Loan ($100K or more) we could be able to provide you with a conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this can be quicker based upon the circumstances for each application. Certain deals have been approved within 24 hours.
The fastest way for you to apply is make sure you apply during normal company hours, and allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you choose to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K or more) we usually provide a response in one hour – provided you submit your request within normal business times and you allow us to use the bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements, we’ll be able to provide an answer in just one business day.
For the Larger Business Loans ($100K to $500K) we might be in a position to offer you with a conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Certain deals have been approved in just 24 hours.
The fastest way is to ensure you apply during standard business hours, and permit us to use the modern bank verification link to instantly verify your bank account information online. If you opt to upload duplicates of your banking statements it can take a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a certain amount, we take into consideration a range of aspects for determining what is the health of the company and the level of the repayments your company can afford. The total amount of your loan will be contingent on the specifics for your business.
When you submit an application for a specific amount we look at a range of variables to determine your health of the company and the amount of repayments that your business will be able to support. The total amount of your loan will be determined by the particulars for your company.
When you make an application for the company financing, we will assess the risk assessment of your business and provide you with a tailored offer, including the loan amount, the terms and interest rates. The business loan is an upfront priced loan therefore you will know in advance the total amount due, which includes any interest rates, fees or charges.
The interest rates on business loans rates differ based on various factors like the amount of money that is borrowed, what company assets the funds are used to purchase and the sector the company is operating in, how long the business is in operation and whether the company has sufficient cash flow to support the loan, and general health or financial standing of the business.
There are no hidden costs for our business loans, and you’ll be aware of the amount it is that you need to pay and at what time, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments in time).
We don’t charge an Application Fee. You are able to get a cash loan with without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of your loan early at any time.
If you choose to pursue this option, please call our helpful company credit experts. The professionals will offer you with repayment details along with an early payout estimate. This is calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payout in addition to 1.5 percent of the remaining principal and any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow standard, we offer repayments either weekly or daily. They are automatically deducted from your designated business account.
The security of your personal information, as well as being clear about how we collect information, use it, and exchange it, as well as ensure the security of your information is crucial and a vital part of our relationship you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system link to instantly verify the bank account details online, allowing us to offer a fast response.
The term "asset-based" refers to borrowing where an business owner uses an asset that they own to obtain a loan. The asset can be a personal asset like the family home or a company asset such as a vehicle as well as a piece of machine.
The majority of lenders, including the banks with the biggest size, prefer to secure loans against assets. If you are having difficulty paying back the loan, then your asset may be transferred to the lender. In essence it’s the process of securing new financing by taking advantage of the value of what you already have.
Up to $150,000 in loans it is not necessary to secure assets before you can access the money However, we do require the personal guarantee. In the event that you fulfill your loan commitments (as stated in your loan contract document) the security of assets will never be required. For loans over $150K typically, you will need personal guarantee and security in the form an asset charge.
We can’t assist with an unsecured business loan for those industries, we might be able assist by providing an secured business loan.
