A Koondoola unsecured business loan is easy and quick in applying for. Apply for a loan quickly and begin using the money for your company.
You can expect:
The eligibility requirements for an unsecured business loan within Koondoola are fairly minimal.
Call Now 1300 089 960Applying for the business loan within Koondoola with us is easy and takes only some minutes, without long lines of paperwork or waiting in line.
Receive approval and money within 1-2 company days.
We are aiming to assist Koondoola companies of all kinds, from small to medium-sized entrepreneurs to obtain funds quickly so that they can take advantage of loans to expand and develop.
The requirements for obtaining an unsecured business loan in Koondoola of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K business loans.
The requirements for eligibility of loans from larger Koondoola business loans of between $100K and $500K consist of:
Looking for a smaller amount of capital? Look over the conditions for eligibility for our $5K-$100K Koondoola unsecured company loans.
A Koondoola unsecured loan is ideal to use for every business reason. Call us now.
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 you need to get started is your contact information (the name of your company, your name, email address, phone), how much you’d like to lend, and your monthly earnings.
Through the process and before settlement we’ll need confirmation of your identity but not before we can begin:
Additionally after we get started with loans of more than $150,000 you’ll require the following financial statements:
Let’s get started now.
With traditional and bank lenders tightening credit conditions and the constant stream of alternative and non-bank loan providers entering the market provides the perfect source to take advantage of.
Koondoola SME’s are now able to access finance through other lenders in Koondoola who are focused on enabling business growth or smoothing cash flow challenges. In the past, individual credit providers (drawing equity from the home loan or credit cards and personal loans as well as overdrafts) provided the most viable alternative financing solutions for Koondoola that were around.
There is now an end to the need to rely on real estate to secure company lending. With an unsecured loan business funding is made simple. Instead of a traditional term loan from a bank, business finance for an SME with interest rates and loan terms that can help with cash flow is available as business credit options.
There are numerous benefits in separating personal from business debt.
Lower your risks, make tax time much easier. Get started with an unsecure busines loan, apply today.
One of the main benefits of keeping your private and company assets apart can be that your home isn’t required to be tied to access the funds. If you’re looking for a small business loan within Koondoola up to $100K the security of assets won’t be required as long as the borrower fulfills their loan obligations.
Businesses will be in a advantageous long-term situation if they are able to demonstrate credit/debt capacity to pay.
The separation of personal as well as company finances makes it significantly more straightforward with regards to tax time, particularly when determining the tax deductible allocation. The IRD has set out rules on the evidence required to be able to claim deductions on an individual’s tax return. This is a subject that the IRD has advised specifically on.
Effective management of cash flows is vital to the long-term survival that of any company. Through maintaining personal as well as business finances distinct, businesses can easily view the situation, track and plan based on their ability to accurately assess their cash flow position.
Koondoola unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
Apply to get the Small Business Loan in under 10 minutes by phone. You will receive an instant response and the money could be in your account within 24 hours. Traditional business loans refer to an interest rate per annum plus other fees and charges. Our business loan is a cash-based loan and you’ll know ahead of time the total amount payable including the interest, fees and charges. Then, it is broken down into either a daily or weekly payment amount.
The Small Business Loan can be used for nearly any company use, including managing cash flows, company remodeling, marketing, to purchase inventory or new equipment, or as general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to be trading for at least 3 years and generate an annual revenue of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Business Loan of a larger size can be used for almost any company purpose including business remodeling, buying inventory or new equipment or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is needed for funding of more than $150,000. It’s by taking a charge over assets and can include the registration of this on the PPSR or filing a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature, rather than specifying the security of a specific asset. The person signing the ensure is personally responsible if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date a security interest that is registered.
The caveat can be described as a formal document filed to provide notice of a legal claim against a property.
When you’re applying for the Larger Business Loan of more than $250,000, we may offer an initial pre-approval in order to ease the process. It is possible to get this done without a credit verification and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health checks. It is not an offer or guarantee of financing. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you receive could be based on different terms.
You can apply for a company loan if you;
The application process is simple and easy. Simply complete the online form within a couple minutes, and a dedicated company expert in lending will contact you to assist you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence), an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K and up) we can often offer an answer in just one hour if you apply during quality business times and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements , we will be able to offer an answer within just one business day.
If you are applying for a Larger Business Loan ($100K and up) we may be likely to offer you with a conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within 24 hours.
The quickest way to apply can be ensure you apply during normal business hours, and permit us to use the advanced bank verification system link to instantly confirm your bank details online. If you opt to send us copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer within an hour – provided you apply at standard business times and let us utilise the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements, we will be able to provide the decision in just an business day.
If you are applying for Larger Business Loans ($100K and up) we may be likely to provide you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The fastest way can be ensure you apply during standard business hours and let us use the advanced bank verification system link to check your bank’s information online. If you decide to upload copies of your bank statement, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a certain amount, we take into consideration a range of variables for determining what is the well-being of your company as well as the amount of the repayments your company is able to afford. The total amount of the loan will be determined by the specific circumstances the business.
If you apply for a certain amount, we will consider a number of variables to determine how much we can lend you such as well-being that is your business as well as the amount of repayments that your business is able to afford. The amount you receive from your loan will depend on the specific circumstances of your business.
When you apply for our business financing, we will assess the risk assessment that you have for your company and provide you with a customised offer, including the amount of the loan, the duration and interest rates. The business loan is an upfront-priced loan which means you be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for business loans rates differ based on various factors such as the amount that is borrowed, what business assets the funds will be used for, the industry the company operates in, how long the company has been operating for, how long the business has sufficient cash flow to support the loan, and overall health and creditworthiness of the business.
There are no hidden fees for our business loans, and you’ll know precisely how much it is that you need to pay and when, right from the day you sign up. There’s not any compounding interest and no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan absolutely no upfront cost and no any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can repay the total amount of your advance loan at any time.
If you are deciding to take this route, please contact our helpful business loans experts. They will provide you with the details of your repayment as well as an early payout amount. The figure will be calculated as the total of the principal amount remaining and accrued interest to the time of early payment and 1.5 percent of the remaining principal plus any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from your company account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as protect your information, is vital and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to security for our customers and privacy. We use an advanced banking verification system to instantly verify your bank account details online, allowing us to offer rapid response.
The term "asset-based" refers to borrowing where the company owner utilises the assets they have to obtain the loan. The asset can be either an asset belonging to the personal, like the family home, or a business asset like a truck or other piece of machinery.
The vast majority of lending institutions, even the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan, the asset could be sold by the lender. In essence it is a way of securing new funding taking advantage of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security before you are able to access the money but we do require an individual guarantee. So long as you comply with your loan commitments (as detailed in the loan contract) Asset security is not needed. For loans that exceed $150,000, generally there is an individual guarantee and security in the form charges on assets.
Although we can’t help with an unsecure business loan for these types of industries, we may be able to assist by providing a secured business loan.
