A The Patch unsecured business loan is simple and quick to apply for. Get a quick apporval and start using the funds in your company.
What you can expect:
The conditions for eligibility for an unsecured business loan to be made in The Patch are fairly minimal.
Call Now 1300 931 835Applying for a company loans within The Patch with us is simple and only takes about a couple of minutes, there are no mountains of paperwork or queues.
Approved and receive funds within 1 to 2 company days.
We are aiming to assist The Patch businesses of all kinds, from small to medium-sized solopreneurs access funding fast so they can take advantage of loans to expand and develop.
The eligibility requirements for an unsecured business loan in The Patch of between $5K and $100K are pretty minimal.
Do you need more money? Review the conditions of eligibility for our $100K-$500K company financing.
The criteria for eligibility to be eligible for the larger The Patch company loans of between $100K and $500K include:
Are you looking for a lower amount of funds? Take a look at the eligibility requirements for our $5K-$100K The Patch unsecured company loans.
A The Patch unsecured loan is great to use for any business use. Call us now.
Do you want to start working on one of these options as early as tomorrow? Then get in touch with us today or send an application online for the quickjest fasted way.
All that’s required to get started is your contact details (company name, your name, email or phone number), how much you want to borrow, and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are but not before we can begin:
Additionally after we get started in the process, for loans of more than $150,000 you’ll also need basic financial statements:
Let’s get started now.
In the wake of traditional lenders and banks restricting credit as well as the continuous stream of alternative and non-bank loan providers entering the market offers a great resource for you to access.
The Patch SME’s are now being able to get finance from alternate lenders servicing The Patch who are focused on enabling company expansion or smoothing cash flow challenges. In the past the personal sources of credit (drawing equity from a house loan or credit cards in addition to personal loans and credit cards) were the only alternative funding solutions available in The Patch that were available.
There is now not a need of having to rely on the real estate market to secure business loans. With an unsecured loan, business financing is easy. Instead of a term loan through a bank, business finance for a small business with interest rates and loan terms that can help with cash flow are around as business credit options.
There are substantial benefits associated with the separation of personal and business debt.
Reduce your risk, and make tax times much easier. Get started with an unsecure loan for business. Apply today.
One major benefit of keeping your individual and company assets apart is that your house does not have to be tied for access to the money. If you’re looking for a small business loan within The Patch up to $100K asset security won’t be required as long as the borrower is able to meet their loan obligations.
Companies are in a stable long-term position when they can show good credit and debt ability to service.
The separation of personal as well as business financial accounts makes it more straightforward with regards to tax time, particularly when identifying what is the tax-deductible amount. Particularly when determining what is the tax deductible allocation. IRD has outlined the guidelines on the proof required for claiming deductions on an organisation’s tax return. This is an area where the IRD has advised specifically on.
Effective cash flow management is crucial to the long-term survival that of any business. Through maintaining personal as well as business finance separate, companies can easily view how they are performing, monitor and plan on the ability to clearly determine their cash flow status.
The Patch unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
The application to get the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and funds may be on your account within 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the total amount payable including any fees, interest or charges. Then, it is broken down into either weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost any company need, such as the management of cash flow, company remodels and marketing to purchase inventory, new equipment, or as general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are weekly or fortnightly in order to accommodate the flow of cash.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the amount of the loan.
To be eligible for a loan of this size, your business needs to be operating for at least three years, and have an annual income of $700K. 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 to prove at minimum 12 months of business.
A Larger Business Loan can be used to fund almost all company need, including business renovations, purchase of inventory or new equipment as well as for general working capital and much more. The loan is not available for personal reasons.
Asset security is required for funding of more than $150,000. This is as a result of an charge on assets, and may include registration through the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than specifying security over an asset. The person who is signing the ensure is personally responsible if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR grants preference over private property assigned according to the date a security interest was registered.
The caveat can be described as a formal form of document to provide an official notice of a claim against a property.
If you’re seeking an enterprise loan of $250K or more we can 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 a preliminary assessment which includes you answering a few financial health checks. It is neither an offer nor a guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer you receive could be subject to different terms.
You may be eligible for a business loan if you;
The application process is fast and simple. Just fill out the online application within a couple minutes, and a dedicated company lending specialist will contact you to guide you.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Application details including credit consent, 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually offer an answer within an hour – as long as you submit your request at standard company times and let us make use of the advanced bank verification system to instantly verify your bank details online. If you opt to upload copies of your banking statements , we will be able to provide a decision within just the span of one company day.
For Larger Business Loans ($100K up to $500,000) we could be in a position to offer you with conditional pre-approval in around six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved in just 24 hours.
The quickest way to apply can be make sure you apply during normal business hours, and permit us to use the advanced bank verification system link to check your bank’s information online. If you opt to send us documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within an hour – provided you make your application during normal business time and let us make use of the advanced bank verification system link to immediately verify your bank account information online. If you choose to submit copies of your bank statements, we are able to offer an answer within one business day.
For the Larger Business Loans ($100K to $500K) we might be in a position to offer you with pre-approval conditional to your application in about 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Certain agreements have been approved within 24 hours.
The quickest method is to make sure you apply during normal business hours, and allow us to use our advanced bank verification system link to verify your bank information online. If you choose to upload documents from your account statements, it may take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a certain amount, we consider a variety of elements in order to assess what is the health of your business and the level of repayments that your company is able to afford. The amount you receive from the loan will be determined by the specific circumstances of your company.
When you make an application for a set amount, we take into consideration a variety of aspects to determine the well-being for your business and the extent of payments your business can afford. The amount you receive from your loan will be determined by the specific circumstances the company.
When you apply for our company loans, we will assess the risk profile the business and provide an individualised offer that includes loan amount, term and interest rates. This business loan is an upfront priced loan therefore you will know in advance the total amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates depend on several factors like the amount of money that is borrowed, what business assets the money will be used for and the sector the business operates in, the long the company has been in operation as well as in the event that the company has sufficient cash flow to fund the loan, as well as the overall well-being and creditworthiness of the company.
There aren’t any hidden costs with our company loans. You’ll know precisely how much it is that you need to pay and when, right from the day you sign up. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments in time).
We do not charge an application fee. You can request a credit loan without any upfront costs or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back the entire amount of your advance loan at any time.
If you decide to pursue this option, please call our helpful company loan professionals. They’ll provide you with details for repayment as well as an early payout amount. This will be calculated as the sum of the remaining principal amount and any accrued interest at the time of early payment, plus 1.5% of the principal balance and any fees that remain unpaid.
To ensure that you don’t miss due dates and also to be in line your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your business account.
Security of your data, and being clear about the ways we gather information, use it, and exchange it, as well as secure your information, is crucial and is an essential element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We employ a highly sophisticated bank verification system that allows you to instantly verify the bank account details online, allowing us to provide an immediate response.
Asset-based borrowing occurs when a business owner utilises the assets they have to make a loan. The asset could be an asset belonging to the personal, like the family home or an business asset such as a truck or piece or equipment.
The majority of lending institutions, including the big banks, tend to make loans secured by assets. If you’re struggling to pay back the loan, then your assets could be offered for sale by the lender. In essence it’s the process of securing new funding using the value of what you already own.
Up to $150K in loans no asset security is required upfront to access the money However, we do require the personal guarantee. As long as you follow the loan terms (as specified in your loan contract document) Asset security will never be required. For loans of over $150,000 generally, there is a personal ensure and security in the form of an asset charge.
We can’t assist with an unsecured business loan in these industries, we may be able to assist with a secured business loan.
