A Preston unsecured business loan is quick and simple to obtain. Approve your loan in a matter of minutes and use the money to grow your business.
You can expect:
The criteria for eligibility for an unsecured business loan in Preston are fairly minimal.
Call Now 1300 931 835Applying for a business financing within Preston with us is simple and only takes about a couple of minutes, there are no lengthy forms or lines.
Be approved and receive your funds in one to two company days.
We are aiming to assist Preston companies of all types, whether small, medium or solopreneurs access funds quickly so that they can utilise the loan to grow and build.
The eligibility requirements for an unsecured business loan in Preston of between $5K and $100K is fairly low.
Do you require more money? Check out the eligibility requirements for our $100K-$500K company loans.
The criteria for eligibility in the larger Preston business loans of between $100K and $500K are:
Do you require a smaller amount of funding? Check out the conditions for eligibility for our $5K to $100K Preston unsecured company loans.
A Preston unsecured loan is great for virtually any business use. Get in touch with us today.
Want to get started on one of these options as early as tomorrow? Then get in touch with us now or apply online to get the fastest and most efficient process.
All that is needed for starting is your contact information (the name of your company, your name, email and telephone) along with the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of who you are but not for starting:
Additionally after we get started in the process, for loans of more than $150,000 you will also need basic financial statements:
Let’s get started now.
With traditional lenders and banks restricting credit The steady flow of alternative and non-bank loan providers entering the market offers a great resource to tap into.
Preston SME’s are now able to access finance through alternative lenders who service Preston who are focused on enabling business expansion or smoothing out problems with cash flow. In the past, private credit options (drawing equity from the home loan, or by using credit cards in addition to personal loans and overdrafts) could be the best alternative funding services for Preston that were available.
There is now no requirement of having to depend on the real estate market to secure business lending. 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 help with cash flow is available as business credit options.
There are substantial benefits associated in separating personal from business debt.
Reduce your risk, make the tax process much easier. Get started with an unsecure loan for business. Get it today.
One big drawcard for keeping your private and company assets separate is that your home does not have to be tied to access the funds. For a modest business loan in Preston up to $100K the security of assets won’t be required so in the event that the borrower has met the loan requirements.
Businesses are in a more advantageous long-term situation if they have a good credit or debt serviceability.
It is important to separate personal from company finances makes it much more seamless in the event of tax time, particularly when determining the tax deductible allocation. The IRD has outlined the guidelines for the documentation required in order to deduct deductions from a company’s tax return. This is a subject that the IRD has advised specifically on.
Effective management of cash flows is crucial to the longevity for any business. By keeping your personal finances and company finance separate, companies can easily view their cash flow, plan and monitor it based on their ability to easily assess their cash flow position.
Preston unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply for the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an instant response and the money could be available in just 24 hours. Traditional business loans refer to an annual rate of interest together with additional fees and charges. Our business loan is a pre-paid loan so you will be aware of the total amount payable including any interest, fees or charges. Then, it is broken down into either weekly or daily payment amount.
A Small Business Loan can be used for almost any business purpose including the management of cash flow, company remodels and marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To qualify for a loan that is this large the business needs to be trading for at least 3 years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger business loan is a great option for almost every company use, including company remodeling, buying equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary to obtain funding above $150,000. It’s as a result of an charge on assets, and could include the registration of this in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature rather than defining security over an asset. The person who is signing the guarantee is personally responsible if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including objects or assets). The PPSR permits the priority of personal property granted according to the date the security interest that is registered.
An affidavit is an official document that is filed to offer the legal claim against a property.
If you’re applying for a Larger Business Loan of more than $250K, we may offer a preliminary pre-approval to help simplify the process. We may be able to do this without a credit check, and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial health questions. It is not an offer or guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you might receive could be on different conditions.
You may be eligible for a company loan if you:
The application process is quick and simple. Just fill out the online application within a few minutes and an experienced company credit specialist will call you to help you.
To be eligible for up to $100,000, you’ll need the right identification documents (valid Driver’s License) as well as an NZBN/IRD that is valid and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details of the application, including credit consent twelve months of bank records, IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within an hour if you make your application within standard business timings and you allow us to utilise the bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements , we will be able to provide an answer in just the span of one business day.
For the Larger Business Loan ($100K and up) we may be in a position to provide you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved within less than 24 hours.
The quickest way to apply is to ensure you apply during standard company hours. Also, permit us to use the advance bank verification link to instantly check your bank’s information online. If you choose to upload documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer an answer within an hour – provided you make your application within standard business times and allow us to use the bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements, we are able to provide a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be likely to offer the conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Some deals have been approved within the space of 24 hours.
The fastest way is to ensure you apply during normal business hours and let us use the advanced bank verification system link to verify your bank information online. If you send us copies of your bank statements, it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a specific amount we look at a variety of aspects to determine how much we can lend you health of your company as well as the amount of repayments your company is able to afford. The amount you receive from your loan will be contingent on the particular circumstances of your company.
When you submit an application for a certain amount, we take into consideration a variety of factors to determine how much we can lend you such as health that is your business and the extent of the repayments your company is able to afford. The total amount of your loan will be determined by the specific circumstances of your business.
When you make an application for the company loan, we will assess the risk profile the business and provide you with a tailored offer, including the loan amount, the terms and interest rates. This company loan is an upfront-priced loan so you will be aware of the total amount payable including any charges, interest rates or fees.
The interest rates on company loans rates vary due to factors including the amount borrowed, what company assets the funds will be used for, the industry the business operates in, how long the company has been running for, whether the business has enough cash flow to cover the loan, and the overall well-being or creditworthiness of the business.
There are no hidden fees with our company loans. You’ll be aware of the amount you’ll be required to pay, and when, right from the day you sign up. There’s no compounding interest, and no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You are able to make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the entire amount of the loan in full at any time.
If you decide to take this route, please speak to our friendly company loan experts. We will provide you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the principal amount remaining plus any accrued interest as of the time of early payment, plus 1.5 percent of the principal balance and any fees that remain unpaid.
To make sure that you don’t miss repayments and to fit in with your cash flow routine, we provide payments that are either daily or weekly. These are automatically withdrawn from your designated company account.
The security of your personal information, as well as knowing the ways we gather data, process, exchange and safeguard your data, is of paramount importance and a vital aspect of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and privacy. We use an advanced bank verification system that allows you to instantly verify your bank account details online so we can provide an immediate response.
Asset-based borrowing is when a company owner uses assets they own to obtain a loan. The asset can be an asset belonging to the personal, like the family home, or a business asset such as a vehicle or piece or equipment.
The vast majority of lending institutions, even the big banks, tend to secure loans against assets. If you’re having trouble paying back the loan then the asset could be transferred to the lender. In essence it is an opportunity to secure new financing by making use of the value of what you already have.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money but we require a personal guarantee. require the personal guarantee. In the event that you fulfill the terms of your loan (as stipulated in the loan contract) and you are able to meet your obligations, asset security is not required. For loans of over $150K generally there is an individual guarantee and security is provided in the form of the charge of assets.
Although we can’t help with an unsecured business loan for those industries, we might be able to assist you with the secured business loan.
