A Koongamia unsecured business loan is simple and quick in applying for. Approve your loan in a matter of minutes and begin using the money for your company.
What you can expect:
The criteria for eligibility for an unsecured business loan to be made in Koongamia are fairly minimal.
Call Now 1300 089 960The process of applying for a business financing within Koongamia with us is simple and only takes a few minutes, no lengthy forms or lines.
Be approved and receive your funds in 1 to 2 business days.
We aim to help Koongamia companies of all kinds, from small to medium-sized solopreneurs access funding fast so they can use the loan to grow and build.
The requirements for obtaining an unsecured business loan in Koongamia of between $5K and $100K is fairly low.
Looking for more funding? Review the conditions of eligibility for our $100K-$500K company loans.
The requirements for eligibility to be eligible for the larger Koongamia business loans of between $100K and $500K consist of:
Are you looking for a lower amount of funding? Look over the conditions for eligibility for our $5K-$100K Koongamia unsecured business loans.
A Koongamia unsecured loan is ideal for virtually any business need. Call us now.
Are you looking to start one of these options as early as tomorrow? Then get in touch with us today or send an application online to get the fastest and most efficient process.
All that is needed to get started is your contact information (the name of your company, your name, email address, phone) as well as the amount you’d like to borrow and your monthly income.
During the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
Additionally after we get started in the process, for loans greater than $150,000 you’ll need the following 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 that are entering the market offers the perfect source to take advantage of.
Koongamia SME’s are now being able to get finance from other lenders in Koongamia who are focused on facilitating business expansion or smoothing problems with cash flow. In the past individual credit providers (drawing equity from the home loan, or using credit cards, personal loans and loans) provided the most viable alternative financing services in Koongamia that were around.
There’s no need to rely on real estate to secure business loan. With an unsecured loan, business financing is easy. Instead of a term loan with a bank, business finance for a small business with interest rates and loan terms that aid with cash flow are around as business loans.
There are substantial benefits associated in separating personal from business debt.
Lower your risks, make tax time more simple, apply for an unsecure busines loan. Get it today.
The main benefit of keeping your private and company assets separate can be that your house isn’t required to be tied to allow access to the funds. For a modest business loan within Koongamia up to $100K an asset security agreement will not be required as long as the borrower meets the loan requirements.
Businesses will be in a advantageous long-term situation if they have a good credit or debt capability.
Separating personal and business finances makes it more seamless when it comes to tax time - particularly when identifying what is the tax-deductible allocation. The IRD has outlined the guidelines for the documentation required in order to deduct deductions from an individual’s tax return. This is an area that the IRD has specifically advised on.
Effective cash flow management is crucial to the long-term success for any company. Through keeping the personal financial and business finance separate, businesses can easily view, monitor and plan based on their ability to accurately determine their cash flow status.
Koongamia unsecured loans provides amounts of between $5,000 and $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 possible to apply to this Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and the money could be in your account in 24 hours. Traditional company loans are based on an annual interest rate plus other fees and charges. Our company loan is a cash-based loan so you will be aware in advance of the total amount due, which includes any fees, charges or charges. This is then broken down into a daily or weekly repayment figure.
The Small Business Loan can be used for virtually every company use, including managing cash flows, business renovations, marketing to purchase inventory or new equipment, or as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 with a term fixed up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size the business needs to be operating for at least three years with an annual turnover of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A larger company loan can be used for almost any business need, including company renovations, purchase of inventory or new equipment, as general working capital and much more. The loan is not available for personal purposes.
Asset security is required for funding of more than $150,000. This can be done in the form of a charge on assets, and may include registering this in the PPSR or registering a caveat.
A director’s or personal ensure is a promise to pay off a credit line that is generally based rather than defining security over an asset. The person signing the guarantee is personally accountable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR grants priority over personal property to be assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official document filed to provide an official notice of a claim on a property.
If you’re seeking larger company loans of more than $250K, we may offer an initial pre-approval that will help make the process. We might be able to do this without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial health questions. This is neither an offer nor a guarantee of credit. Acceptance without condition is subject to an extensive credit evaluation and any offer that you receive could be on different terms.
You are eligible to apply for an business loan if you:
The application process is simple and simple. Just complete the online application in few minutes and an experienced company lending specialist will call you to guide you.
To apply for up to $100,000 you’ll need ID details (valid Driver’s Licence) along with an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent, 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) we typically provide an answer within one hour if you submit your request within standard business times and you allow us to utilise the bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements we can provide a decision in just one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be likely to offer you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some agreements have been approved within just 24 hours.
The quickest method would be to make sure you apply during standard company hours. You can also let us use the modern bank verification link to check your bank’s information online. If you decide to upload the copies of bank statements , it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer in just one hour if you apply at normal business hours and permit us to utilise the advanced bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements, we are able to offer an answer in just the span of one business day.
For the Larger Business Loans ($100K up to $500,000) We may be capable of provide you with conditional pre-approval 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 on the specifics of each application. Some agreements have been approved in less than 24 hours.
The fastest way would be to make sure you apply during normal business hours and allow us to use the advanced bank verification system link to verify your bank account information online. If you opt to send us documents from your account statements it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a certain amount, we take into consideration a range of elements that determine the well-being that is your business and the level of payments your business can support. The amount you receive from your loan will depend on the specific circumstances for your company.
When you submit an application for a set amount, we look at a range of variables to determine your health for your business and the amount of repayments your business can afford. The amount you receive from your loan will be determined by the particulars that are unique to your company.
If you decide to request business loans with us company financing, we will assess the risk profile that you have for your company and offer you with a customised offer, including the amount of the loan, the duration and the interest rates. It is a business 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 interest rates, fees or charges.
Interest rates for company loans rates vary due to factors including the amount borrowed, what company assets the funds are used to purchase, the industry the company is operating in, how long the company has been operating and what percentage of the company has sufficient cash flow to fund the loan, and overall health and creditworthiness of the business.
There aren’t any hidden charges with our business loans, and you’ll be aware of the amount it is that you be required to pay and at what time, from day one. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You are able to make an application for loans with no upfront cost or commitment to apply.
The Origination Fee covers the expenses involved 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 percentage of the amount of loan.
You can choose to repay the entire amount of your loan early at any time.
If you do decide to do this please speak to our friendly company loans professionals. They’ll offer you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal amount remaining and accrued interest to the date of early payout, plus 1.5% of the principal remaining as well as any outstanding fees.
To ensure you do not miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. These are automatically deducted from your designated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and secure your information, is of paramount importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to security for our clients and privacy. We utilise a sophisticated banking verification system to immediately verify your bank account details online. This allows us to provide rapid response.
Asset-based borrowing occurs when a business owner makes use of an asset that they own to obtain the loan. The asset may be a personal asset like the family home or a business asset like a truck as well as a piece of machine.
The majority of lending institutions, even the big banks, tend to guarantee loans against assets. If you’re having trouble paying back the loan then your assets could be offered for sale by the lender. In essence, it’s a way of securing new funding making use of the value of what you already own.
Up to $150,000 in loans there is no requirement for asset security prior to the loan’s access but we do need the personal guarantee. So long as you comply with the terms of your loan (as stipulated in the loan contract), asset security is not required. For loans of over $150,000 generally, there is an individual ensure and security that is in the form an asset charge.
Although we cannot assist with an unsecure business loan for these industries, we may be able to assist you by providing secured business loan.
