A Koongamia unsecured business loan is quick and easy to apply for. Apply for a loan quickly and begin using the money to grow your business.
What you can expect:
The criteria for eligibility for an unsecured business loan for a business loan Koongamia are fairly minimal.
Call Now 1300 089 960Making an application for the company financing for business in Koongamia with us is easy and takes just less than a minute, with no piles of paperwork or long waits.
Receive approval and funds in 1 – 2 business days.
We want to assist Koongamia companies of all types, whether small, medium or solopreneurs access funding fast so they can make use of the loan to expand and develop.
The criteria for eligibility for an unsecured business loan in Koongamia of between $5K and $100K is fairly low.
Do you require more money? Review the conditions of eligibility for our $100K-$500K company financing.
The eligibility requirements in the larger Koongamia company loans of between $100K and $500K consist of:
Looking for a smaller amount of funding? Check out the eligibility requirements for our $5K to $100K Koongamia unsecured business loans.
A Koongamia unsecured loan is perfect to use for any company reason. Talk to us today.
Want to get started on one of these projects as soon as tomorrow? Then get in touch with us or send your application online to apply the fastest, most convenient way.
All that’s needed to begin is your contact information (the name of your company, your name, email address and telephone) and the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we’ll need confirmation of your identity however, not in order to begin:
After we start when it comes to loans of more than $150,000 you’ll also need basic financial statements.
Let’s get started now.
With traditional and bank lenders increasing their credit requirements and the constant stream of non-bank and alternative loan providers entering the market provides an excellent source to tap into.
Koongamia SME’s are now capable of accessing finance through other lenders in Koongamia who are focused on enabling business growth or smoothing out cash flow challenges. In the past individual credit providers (drawing equity from a house loan, or by using credit cards or personal loans, as well as credit cards) provided the most viable alternative funding services for Koongamia that were around.
There is now an end to the requirement in the present to depend on the real estate market to secure business loans. 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 aid with cash flow are available as business credit options.
There are many advantages associated with separating personal and business debt.
Reduce your risk, and make tax times simpler, start with an unsecure loan for business. Apply today.
The main benefit of keeping your individual and business assets separate will be the fact that your house isn’t required to be tied to allow access to the funds. For a small business loan within Koongamia up to $100K the security of assets won’t be needed as in the event that the borrower has met the loan requirements.
Businesses will be in a favourable long-term position if they are able to demonstrate credit/debt capacity to pay.
The separation of personal as well as business finances makes it more straightforward when it comes to tax time, especially when it comes to determining the tax-deductible amount. The IRD has set out the rules on the evidence required to claim deductions on a company’s tax return. This is an area where the IRD has advised specifically on.
Effective cash flow management is vital to the longevity for any company. By keeping the personal financial and business finance separate, companies can easily view their cash flow, plan and monitor it based on the ability to clearly assess their cash flow position.
Koongamia unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
It is possible to apply to get this Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the money could be in your account within 24 hours. Traditional company loans refer to an interest rate per annum plus other fees and charges. Our company loan is a loan that is priced upfront and you’ll be aware of the amount you will have to pay, including any interest, fees or charges. Then, it is divided into a daily or weekly installment amount.
The Small Business Loan can be used for virtually any company need, such as cash flow management, company remodeling, marketing, to purchase inventory or new equipment, for 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 company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your company needs to be operating for at least three years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large business loan is a great option for almost any business need, including company remodeling, buying new equipment or inventory, as general working capital and much more. The loan is not available for personal use.
Asset security is needed to access funding over $150,000. This can be done by taking a charge over assets and can include registering this with the PPSR or registering a caveat.
A director’s or personal ensure is a promise to repay credit that is generally in nature rather than stipulating the security of a specific asset. The person signing the ensure is personally liable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR gives prioritisation over property that is personal to be granted according to the date the security interest has been registered.
An affidavit is an official document lodged to offer notice of a legal claim to a property.
When you’re applying for larger business loans of $250,000 or more we can offer a preliminary pre-approval to help simplify the process. We might be able to apply for this without a credit verification and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes you answering some financial health questions. It is not an offer or guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be subject to different terms.
You can apply for a business loan if you
The application process is quick and simple. Complete the online form in few minutes and a dedicated business expert in lending will call you to guide you through the process.
For a loan of up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Application details including credit consent twelve months of bank statements, IRD statements as well as the two most recent years’ financial statements, in addition to interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K to $100K) we can often offer a response in one hour if you submit your request in quality business hours and you allow us to use the advanced bank verification system to instantly verify your bank details online. If you opt to upload copies of your banking statements we can offer a decision in as little as an business day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of offer you with conditional pre-approval within about 6 hours. After you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Some deals have been approved within just 24 hours.
The most effective method can be make sure you apply during standard business hours. Also, allow us to use the modern bank verification to verify your bank account information online. If you send us duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer in just one hour – as long as you submit your request in normal business hours and allow us to use the bank verification system to immediately verify your bank account information online. If you decide to send us copies of your bank statement, we’ll offer an answer in just an business day.
For Larger Business Loans ($100K to $500K) We may be in a position to provide you with conditional pre-approval in around six hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be faster depending on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The most effective method would be to ensure you apply during standard business hours and allow us to use the advanced bank verification system link to instantly verify your bank account information online. If you send us duplicates of your banking statements, it may take a bit longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount we will consider a number of variables for determining how much we can lend you well-being for your company and the level of payments your company can support. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your company.
When you submit an application for a set amount, we look at a range of elements to determine your health of the business as well as the amount of the repayments your business can afford. The total amount of the loan will be determined by the particular circumstances that are unique to your business.
If you decide to apply for the business loans, we will assess the risk assessment the company and provide an individualised offer including the loan amount, the terms and interest rates. It is a company loan is an upfront-priced loan so you will be aware of the total amount payable including any interest rates, fees or charges.
The interest rates on company loans rates depend on a variety of factors including 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 operating, in the event that the business has enough cash flow to cover the loan, and also the overall health or financial standing of the business.
There are no hidden fees with our company loans, and you’ll know precisely what it is that you be required to pay, and when, from the first day. There’s no compounding interest and no additional fees (as as long as you pay your payments on time).
We don’t 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 the setting up and management of the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you decide to pursue this option, please call our helpful company loans professionals. They’ll offer you with details on repayment and an early payment figure. This will be calculated as the total of the principal balance and accrued interest to the time of early payout, plus 1.5 percent of the principal balance and any fees that remain unpaid.
To ensure you do not miss due dates and also to be in line your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from your nominated company account.
Protecting your information, and making it clear how we collect data, process, exchange and protect your information, is of huge importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to security for our customers and security. We make use of an advanced bank verification system that allows you to immediately confirm your bank account information online, allowing us to offer an immediate response.
The term "asset-based" refers to borrowing where a business owner borrows from the assets they have to obtain the funding. The asset can be either an asset belonging to the personal, like the family home, or a business asset like a truck as well as a piece of machine.
The majority of banks, not just the major banks, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, then the asset could be offered for sale by the lender. In essence, it is an opportunity to secure new financing by making use of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money, however we require a personal guarantee. require the personal guarantee. If you adhere to your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150K, generally there is the option of a personal ensure and security in the form of the charge of assets.
Although we cannot assist with an unsecured business loan for the above industries, we might be able to assist by providing a secured business loan.
