A Two Rocks unsecured business loan is quick and simple to apply for. Apply for a loan quickly and begin using the money for your company.
What you can expect:
The criteria for eligibility for an unsecured business loan for a business loan Two Rocks are fairly minimal.
Call Now 1300 275 411The process of applying for a company credit in Two Rocks with us is easy and takes only a few minutes, no mountains of paperwork or queues.
Approved and receive cash within 1 to 2 business days.
We are aiming to assist Two Rocks businesses of all kinds, from small to medium-sized soloprenuers to get access to money quickly, so that they can use the loan to grow and build.
The requirements for obtaining an unsecured business loan in Two Rocks of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the conditions of eligibility for our $100K-$500K business loans.
The criteria for eligibility for loans from larger Two Rocks company loans of between $100K and $500K include:
You are looking for a lesser amount of funds? Find out the eligibility requirements for our $5K-$100K Two Rocks unsecured company loans.
A Two Rocks unsecured loan is perfect for nearly every company need. Talk to us today.
Are you looking to start one of these projects as soon as tomorrow? Contact us now or apply online for the quickjest fasted way.
All that’s required to start is your contact details (the name of your company, your name, email address or phone number) along with the amount you want to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of who you are but not for starting:
Additionally after we get started with loans greater than $150,000 you will also need fundamental financial statements:
Let’s get started.
With banks and traditional lenders restricting credit and the constant stream of non-bank and alternative loan providers entering the market provides a great resource to take advantage of.
Two Rocks SME’s are now in a position to obtain finance via alternative lenders that service Two Rocks who are focused on facilitating business expansion or smoothing cash flow issues. In the past, individual credit providers (drawing equity from the home loan or credit cards, personal loans and the overdraft) was the sole alternative financing solutions within Two Rocks that were around.
There’s no need in the present to rely on real estate to secure business lending. With an unsecured loan, business financing is easy. Instead of a term loan with banks, business finance for a small company with interest rates and loan terms that help with cash flow is around as business loans.
There are many benefits with the separation of personal and company debt.
Limit your exposure, and make tax times much easier. Get started with an unsecured busines loan. Get it today.
One big drawcard for keeping your personal and company assets separate will be the fact that your house isn’t necessarily tied up to the funds. For a modest business loan within Two Rocks up to $100K, asset security will not be required so in the event that the borrower has met their loan obligations.
Businesses are in a more advantageous long-term situation if they are able to demonstrate credit/debt ability to service.
The separation of personal as well as company financial accounts makes it more straightforward when it comes to tax time - particularly when determining what is the tax-deductible allocation. The IRD has set out guidelines for the documentation required to be able to claim deductions on a business’s tax return. This is a subject that the IRD has specifically advised on.
A well-organised cash flow management system is essential to the long-term success of any business. Through keeping personal and company finances distinct, companies can easily view the situation, track and plan based on their ability to easily assess their cash flow position.
Two Rocks unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments which can be made daily or weekly.
It is imaginable to apply to get the Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and have the funds available in just 24 hours. Traditional company loans refer to an annual rate of interest together with additional fees and charges. The business loan is a pre-paid loan and you’ll know ahead of time the total amount payable including the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for almost any business use, including control of cash flow business improvements, advertising to purchase inventory, 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 loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit that is this large, your company needs to have been trading for at least 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large company loan is a great option for almost every business use, including business improvements, purchasing new equipment or inventory, as general working capital and much more. The loan is not available for personal purposes.
Asset security is needed to obtain funding above $150,000. This can be done in the form of a charge over assets and can include registering this in the PPSR or registering as a caveat.
A director’s or personal ensure is a promise to pay back a loan that is generally in nature rather than specifying the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company borrower is unable 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 grants the priority of personal property assigned according to the date a security interest has been registered.
A caveat is a legal document that is filed to offer the legal claim to property.
When you’re applying for a Larger Business Loan that is greater than $250K, we may offer an initial pre-approval in order to make the process. We could be able to do this without credit checks and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial well-being checks. It’s neither an offer nor a guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer you might receive could have different conditions.
You may apply for a business loan if you:
The application process is simple and easy. Complete the online form in just a few minutes, and an experienced company credit specialist will call you to guide you through the process.
For a loan of up to $100,000 you’ll require the right identification documents (valid Driver’s License), an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically provide an answer within one hour if you submit your request at standard company time and permit us to utilise 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’ll be able to provide the decision within 1 company day.
For Larger Business Loans ($100K and up) we could be capable of offer the conditional pre-approval within 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. Certain deals have been approved in the space of 24 hours.
The quickest method is to ensure you apply during normal company hours. Also, allow us to use our modern bank verification link to instantly verify your bank information online. If you choose to upload copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K and up) we usually offer an answer within an hour – as long as you submit your request within normal business timings and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you decide 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 likely to offer the conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be faster depending upon the circumstances for each application. Some agreements have been approved in just 24 hours.
The fastest method can be ensure you apply during normal business hours, and allow us to use our modern bank verification to instantly verify your bank account information online. If you opt to send us the copies of bank accounts, it may take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a particular amount, we look at a variety of aspects for determining your health of your company and the amount of the repayments your business can afford. The amount you receive from your loan will depend on the specific circumstances of your business.
When you submit an application for a specific amount we consider a variety of variables to determine the health of the business and the extent of payments your company can support. The amount you receive from your loan will be contingent on the specifics the company.
If you decide to apply for one of our company loan, we will assess the risk assessment that you have for your business and offer an individualised offer, including the amount of loan, the term and interest rates. A company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates differ based on various factors including the amount borrowed, the company assets the money are used to purchase and the sector the company is in, how long the business has been operating and how long the business has enough cash flow to cover the loan, and the general health and creditworthiness of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you’ll need to pay, and when, from day one. There’s no compounding and no additional fees (as long as you are able to make your payments on time).
We do not charge an application fee. You are able to request a credit loan with with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the entire amount of the advance loan at any time.
If you do decide to take this route, please speak to our friendly company credit professionals. They will provide you with details on repayment and an early payment figure. It will be calculated using the total of the principal balance and the accrued interest up to the time of the early payout in addition to 1.5 percent of the remaining principal and any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and being clear about the ways we gather data, process, exchange and safeguard your data, is crucial and a vital part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We utilise a sophisticated banking verification system to instantly verify the bank account details online. This allows us to offer quick responses.
Asset-based borrowing is when the company owner borrows from the assets they have to get the funding. The asset could be an individual asset, such as the family home or a company asset such as a truck as well as a piece of machine.
The vast majority of lenders, even the banks with the biggest size, prefer to guarantee loans against an asset. If you’re struggling to pay back the loan, your asset may be transferred to the lender. In essence it is an opportunity to secure additional financing using the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security before you are able to access the money however, we do need an individual guarantee. If you adhere to the loan terms (as detailed in the loan contract), asset security is not required. For loans of over $150,000 typically, you will need a personal ensure and security is provided in the form of an asset charge.
We can’t assist with an unsecure business loan in those industries, we might be able assist by providing the secured business loan.
