A Koongamia unsecured business loan is quick and easy to apply for. Get a quick apporval and start using the funds in 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 business loans in Koongamia company credit within Koongamia with us is easy and takes only less than a minute, with no mountains of paperwork or queues.
Approved and receive money within 1-2 company days.
We aim to help Koongamia companies of all kinds, including medium, small and even 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 Koongamia of between $5K and $100K are pretty minimal.
Do you require more money? Find out the conditions of eligibility for our $100K to $500K company loan.
The criteria for eligibility in the larger Koongamia business loans of between $100K and $500K are:
Looking for a smaller amount of funding? Take a look at the guidelines for eligibility for our $5K-$100K Koongamia unsecured company loans.
A Koongamia unsecured loan is perfect to use for every company reason. Talk to us today.
Are you looking to start one of these idea as quickly as tomorrow? So, contact us or apply online now to get the fastest and most effective process.
All that’s required for starting is your contact information (company name, your name, email address, phone), how much you’d like to borrow, and your monthly income.
While in the process and before settlement we will need confirmation of your identity but not to get started:
After we start, for loans greater than $150,000 you’ll require basic financial statements.
Let’s get started now.
With traditional and bank lenders restricting credit The steady flow of non-bank and alternative loan providers that are entering the market provides an excellent source for you to tap into.
Koongamia SME’s are now able to access finance through alternate lenders servicing Koongamia who are focused on enabling business expansion or smoothing out the cash flow problems. The past was when individual credit providers (drawing equity from a house loan, or using credit cards or personal loans, as well as loans) was the sole alternative financing solutions available in Koongamia that were around.
There’s an end to the need in the present to rely on the real estate market to secure company lending. With an unsecured loan, business funding is made simple. Instead of a traditional term loan from banks, business finance for a small business with interest rates and loan terms that help with cash flow is available as business credit options.
There are many advantages associated with the separation of personal and company debt.
Reduce your risk, make tax time simpler, start with an unsecure busines loan. Make an application today.
The main benefit of keeping your private and company assets apart is that your home isn’t necessarily tied up for access to the money. In the case of a business loan within Koongamia up to $100K an asset security agreement will not be required so long as the borrower is able to meet their loan obligations.
Businesses are in a more favourable long-term position if they are able to demonstrate credit/debt capability.
Separating personal and business finances makes it more seamless with regards to tax time - especially when it comes to determining the tax-deductible allocation. The IRD has laid out guidelines for the documentation required in order to deduct deductions from an organisation’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 of any business. By keeping your personal finances and company finances distinct, businesses can easily view their cash flow, plan and monitor it based on their ability to easily assess their cash flow position.
Koongamia unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and funds may be on your account within 24 hours. Traditional company loans have an annual rate of interest as well as other fees and charges. This company loan is an upfront priced loan therefore you’ll know ahead of time the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for nearly every business reason, such as cash flow management, business remodels and marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
To be eligible for a credit that is this large the business needs to have been operating for at least three years and generate an annual revenue of at least $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Larger Business Loan can be used for nearly every company purpose including business improvements, purchasing equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is required to obtain funding above $150,000. It’s by way of charge over assets, and could include registration with the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than stipulating security over a particular asset. The person who is signing the ensure is personally accountable if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR permits preference over private property granted according to the date the security interest that is registered.
An affidavit is an official document lodged to provide the legal claim against a property.
If you’re requesting a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval that will 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 based on an initial assessment, which involves answering a couple of financial well-being questions. It is not an offer of credit or guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you may receive may be on different conditions.
You may be eligible for a company loan if you:
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated business credit specialist will be in touch to guide you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence) along with a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) we usually provide an answer within an hour – as long as you submit your request at standard company timings and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to send us copies of your bank statements we can offer an answer within just 1 company day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of offer 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 upon the circumstances for each application. Some deals have been approved in the space of 24 hours.
The quickest method can be ensure you apply during standard company hours, and permit us to use the advanced bank verification system link to check your bank’s information online. If you opt to upload copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide a response in one hour if you apply within normal business times and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your banking statements, we are able to offer a decision in as little as 1 business day.
For the Larger Business Loans ($100K and up) we could be able to provide you with conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved within just 24 hours.
The fastest way can be ensure you apply during normal business hours and permit us to use the modern bank verification link to instantly check your bank’s information online. If you decide to upload duplicates of your banking statements, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a specific amount we take into consideration a range of factors for determining your well-being of your business as well as the amount of repayments that your business is able to afford. The total amount of your loan will depend on the specific circumstances for your business.
If you apply for a set amount, we look at a range of factors to determine how much we can lend you such as health that is your business as well as the amount of repayments your business will be able to support. The total amount of your loan will be determined by the specifics that are unique to your company.
If you decide to request one of our company loan, we’ll assess the risk profile of your business and provide an individualised offer including loan amount, term and the interest rates. A company loan is a loan that is priced upfront which means you be aware of the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates differ based on various factors like the amount of money borrowed, the company assets the funds will be used for, the industry the business operates in, the long the company has been running, how long the business has sufficient cash flow to support the loan, and general well-being or financial standing of the business.
There aren’t any hidden charges for our company loans. You’ll be aware of the amount you need to pay, and when, from the first day. There’s no compounding and no extra fees (as long as you make your payments on time).
We do not charge an application fee. You are able to request a credit loan absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay all of your loan early at any time.
If you choose to pursue this option, please speak to our friendly company credit professionals. They will offer you with the details of your repayment and an early payout figure. It will be calculated using the total of the remaining principal amount plus any accrued interest as of the date of early payout and 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your business account.
The security of your personal information, as well as making it clear the ways we gather information, use it, and exchange it, as well as safeguard your data, is of paramount importance and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to security for our customers and security. We utilise a sophisticated banking verification system to immediately verify your bank account information online. This allows us to offer a fast response.
An asset-based loan is when an company owner borrows from an asset they own to obtain the loan. The asset can be an asset belonging to the personal, like the family home, or it could be a business asset like a truck or other piece of machinery.
The vast majority of the lenders even the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan, the asset might be transferred to the lender. In essence, it is a way of securing new financing taking advantage 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 do require an individual guarantee. As long as you follow your loan obligations (as specified in your loan contract) the security of assets is not needed. For loans of over $150K generally, you are able to get personal guarantee and security that is in the form charges on assets.
While we aren’t able to help with an unsecure business loan in these industries, we may be able assist with an secured business loan.
