An Alkimos unsecured business loan is easy and quick in applying for. Request a quick approval and begin using the money for your company.
What to expect:
The criteria for eligibility for an unsecured business loan to be made in Alkimos are fairly minimal.
Call Now 1300 089 960Applying for an company loans within Alkimos with us is easy and takes just a few minutes, no mountains of paperwork or queues.
Receive approval and money within 1-2 company days.
We aim to help Alkimos businesses of all types, whether small, medium or solopreneurs to access funding fast so they can take advantage of loans to expand and grow.
The eligibility requirements for an unsecured business loan in Alkimos of between $5K and $100K is fairly low.
Looking for more funding? Review the conditions of eligibility for our $100K-$500K company loan.
The criteria to be eligible to be eligible for larger Alkimos company loans of between $100K and $500K are:
Do you require a smaller amount of funding? Take a look at the conditions for eligibility for our $5K-$100K Alkimos unsecured business loans.
An Alkimos unsecured loan is ideal for virtually every company need. Contact us now.
Are you looking to start one of these as soon as tomorrow? Get in touch with us today or send an application online to apply the fastest, most convenient way.
All that’s required for starting is your contact details (the name of your company, your name, email and phone) and the amount you’d like to lend, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of who you are, but not before we can begin:
In addition, once we have 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 and bank lenders tightening their credit terms as well as the continuous stream of alternative and non-bank loan providers entering the market provides an excellent source for you to access.
Alkimos SME’s are now able to access finance through alternative lenders that service Alkimos who are focused on facilitating company growth or smoothing problems with cash flow. The past was when individual credit providers (drawing equity from the home loan, or using credit cards in addition to personal loans and overdrafts) could be the best alternative funding services for Alkimos that were available.
There is now no need in the present to rely on using real estate to secure company lending. With an unsecured loan business financing is now easy. Instead of a term loan through a bank, business finance for an SME with interest rates and loan terms that can help in cash flow are around as business lending options.
There are many advantages associated with the separation of personal and company debt.
Limit your exposure, make tax time easier, get started with an unsecure loan for business. Make an application today.
One big drawcard for keeping your private and business assets separate will be the fact that your house isn’t necessarily tied up to access the funds. For a modest business loan within Alkimos up to $100K, asset security will not be required as long as the borrower meets the loan requirements.
Businesses will be in a favourable long-term position if they are able to demonstrate credit/debt capacity to pay.
Separating personal and business finances makes it significantly more seamless in the event of tax time - especially when it comes to determining the tax deductible allocation. The IRD has set out requirements for evidence to claim deductions on the tax return of a company. This is an area that the IRD has advised specifically on.
Effective management of cash flows is key for the long-term success in any company. Through keeping the personal financial and company finances distinct, companies can easily view the situation, track and plan based on the ability to effectively determine their cash flow status.
Alkimos unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and the funds could be on your account within 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. The company loan is a pre-paid loan so you will know ahead of time the total amount due, which includes any fees, interest or charges. Then, it is broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually any company use, including control of cash flow company renovations, marketing to purchase inventory, new equipment, as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size, your business needs to have been operating for a minimum of 3 years, and have an annual income of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Business Loan of a larger size can be used for nearly every company use, including company renovations, purchase of inventory or new equipment for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. This is by taking a charge over assets, and could include registration on the PPSR or filing a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature rather than stipulating the security of a specific asset. The person who is signing the guarantee is personally responsible if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including the assets or goods). The PPSR grants preference over private property assigned according to the date the security interest that is registered.
The caveat can be described as a formal document lodged to provide the legal claim against a property.
If you’re requesting larger business loans of $250,000 or more we can offer a preliminary pre-approval to help make the process. It is possible to do this without a credit check and within six hours of your initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial health questions. It is not an offer or guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer you are offered could be based on different terms.
You may be eligible for an company loan if you;
The application process is simple and easy. Simply complete the online form in few minutes and an experienced company credit specialist will contact you to guide you.
To apply for up to $100,000 you’ll require ID details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent and 12 months of bank records, IRD statement, last 2 years finalised financial statements, in addition to interim financials from the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually provide an answer within an hour – as long as you apply in quality business timings and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your bank statements , we are able to offer a decision in as little as the span of one company day.
For the Larger Business Loan ($100K and up) we might be likely to provide you with conditional pre-approval in around 6 hours. After you’ve signed your pre-approval form, it will take approximately 2-3 days to receive final approval. However, this can be quicker based upon the circumstances for each application. Some agreements have been approved within less than 24 hours.
The quickest method is to ensure you apply during standard company hours, and permit us to use the advanced bank verification system to confirm your bank details online. If you decide to upload documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K or more) We can usually offer a response in one hour if you submit your request at normal business times and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements we can provide a decision within one business day.
For Larger Business Loans ($100K and up) we may be likely to provide you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain agreements have been approved within 24 hours.
The fastest way can be ensure you apply during normal business hours and permit us to use the modern bank verification to instantly check your bank’s information online. If you choose to upload documents from your account statements it can take a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a specific amount we take into consideration a range of aspects to determine your health for your business and the level of the repayments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances of your business.
When you make an application for a particular amount, we look at a range of factors to assess your well-being for your company and the amount of repayments that your company is able to afford. The total amount of your loan will be contingent on the specific circumstances of your business.
If you decide to make an application for one of our company credit, we will assess the risk profile for your business and provide you with a customised offer that includes loan amount, term and the interest rates. The company loan is an upfront cost loan and you’ll know the exact amount due, which includes any charges or interest.
Interest rates for company loans rates vary due to factors like the amount of money borrowed, the business assets the funds are used to purchase and the sector the company is operating in, how long the company has been running, in the event that the company has enough cash flow to pay for the loan, and the overall health or creditworthiness of the business.
There are no hidden costs with our business loans. You’ll know exactly how much you be required to pay, and when, right from the very first day. There’s no compounding interest and the loan comes with 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 apply for a loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the total amount of your advance loan at any time.
If you choose to take this route, please call our helpful business lending specialists. They’ll offer you with the details of your repayment and an early payout figure. This is calculated as the total of the principal amount remaining and the accrued interest up to the time of early payment and 1.5 percent of the principal remaining and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically withdrawn from your business account.
Making sure that your information is secure, and being clear about how we collect, use, exchange and ensure the security of your information is of paramount importance and a vital element of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We make use of an advanced bank verification system that allows you to instantly verify your bank account details online, allowing us to offer rapid response.
Asset-based borrowing occurs when a company owner makes use of an asset they own to obtain the funds for a loan. The asset can be a personal asset like the family home, or a business asset such as a truck or piece of equipment.
The majority of lending institutions, including the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan, then your asset may be transferred to the lender. In essence, it is the process of securing additional financing using the value of what you already have.
For loans that exceed $150,000, the requirement for asset security is not required before you are able to access the money However, we do need an individual guarantee. As long as you follow your loan commitments (as stipulated in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans of over $150K generally, there is personal ensure and security in the form of the charge of assets.
Although we can’t help with an unsecure business loan in those industries, we might be able assist by providing the secured business loan.
