A Lexia unsecured business loan is easy and quick to get. Approve your loan in a matter of minutes and begin using the money for your business.
What you can expect:
The eligibility requirements for an unsecured business loan for a company loan Lexia are fairly minimal.
Call Now 1300 089 960Making an application for an company credit in Lexia with us is easy and takes just a few minutes, no piles of paperwork or long waits.
Receive approval and funds within one to two business days.
We are aiming to assist Lexia companies of all sorts small, medium even solopreneurs access funding fast so they can use the loan to expand and develop.
The eligibility requirements for an unsecured business loan in Lexia of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Find out the conditions of eligibility for our $100K-$500K business loans.
The criteria to be eligible to be eligible for larger Lexia business loans of between $100K and $500K consist of:
You are looking for a lesser amount of capital? Check out the eligibility requirements for our $5K-$100K Lexia unsecured business loans.
A Lexia unsecured loan is perfect for nearly any business use. Get in touch with us today.
Do you want to begin one of these as soon as tomorrow? Contact 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 details (company name and your name, as well as email, phone) and the amount you want to borrow, and your monthly earnings.
During the process and before settlement we will need confirmation of who you are, but not before we can begin:
Additionally after we get started in the process, for loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started now.
In the wake of traditional lenders and banks tightening their credit terms and the constant stream of alternative and non-bank loan providers entering the market offers an excellent source for you to tap into.
Lexia SME’s are now able to access finance through alternative lenders that service Lexia who are focused on enabling business expansion or smoothing out the cash flow problems. In the past personal credit sources (drawing equity from the house loan or credit cards, personal loans and loans) were the only alternative financing services in Lexia that were around.
There’s not a need in the present to rely on using real estate to secure business loan. With an unsecured loan business financing is now easy. Instead of a term loan through the bank, business finance for an SME with interest rates and loan terms that aid with cash flow are around as business loans.
There are many benefits with separating personal and company debt.
Limit your exposure, make tax time more simple, apply for an unsecure busines loan, apply today.
One major benefit of keeping your private and company assets apart will be the fact that your home isn’t necessarily tied up to allow access to the funds. If you’re looking for a small business loan within Lexia up to $100K the security of assets won’t be required so long as the borrower fulfills their loan obligations.
Businesses are in a more favourable long-term financial position if they can demonstrate good credit/debt serviceability.
A separation between personal and business finances makes it significantly more seamless with regards to tax time, especially when it comes to determining the tax-deductible amount. Particularly when determining what is the tax deductible allocation. IRD has set out guidelines for the documentation required for claiming deductions on a company’s tax return. This is an area that the IRD has specifically advised on.
Effective management of cash flows is essential to the long-term success that of any company. Through maintaining personal as well as company finances distinct, companies can easily view how they are performing, monitor and plan on their ability to easily determine their cash flow status.
Lexia unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the funds could be in your account within 24 hours. Traditional company loans refer to an annual rate of interest plus other fees and charges. We offer a company loan is a loan that is priced upfront therefore you’ll know ahead of time the total amount to be paid, including any interest, fees or charges. This is then broken down into a daily or weekly amount to be paid back.
A Small Business Loan can be used to fulfill almost every company need, such as cash flow management, business remodels and marketing to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a credit that is this large the company needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large company loan is a great option for almost any company purpose including company renovations, to purchase new equipment or inventory for general working capital and much more. The loan is not available for personal use.
Asset security is necessary to access funding over $150,000. It’s in the form of a charge over assets and can include the registration of this on the PPSR or the registration of as a caveat.
A personal or director’s ensure is a guarantee to pay off a credit line that is general in nature, rather than defining security over an asset. The person who signs the ensure is personally liable if the company the borrower fails to make the repayment.
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 that are registered for personal property (including items or assets). The PPSR grants preference over private property granted according to the date the security interest has been registered.
Caveats are legal document filed to offer notice of a legal claim to property.
If you’re seeking the Larger Business Loan that exceeds $250,000 we can offer an initial pre-approval in order to simplify the process. It is possible to do this without credit checks and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves the answer to a series of financial health checks. This is not an offer or guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you are offered could have different terms.
You are eligible to apply for an business loan if you:
The process for applying is fast and easy. Just complete the online application in few minutes and a dedicated company loan specialist will contact you to assist you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License) as well as a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent, 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K and up) we usually provide a response in one hour, provided you make your application at quality company time and permit us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements we can offer a decision within the span of one business day.
For the Larger Business Loan ($100K to $500K) we may be in a position to provide you with pre-approval conditional to your application in about 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved in 24 hours.
The quickest method can be ensure you apply during standard company hours, and let us use the advanced bank verification system to confirm your bank details online. If you opt to send us the copies of bank statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer a response in one hour, provided you submit your request during normal business timings and permit us to make use of the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statements we can provide an answer within 1 business day.
For the Larger Business Loans ($100K and up) We may be likely to provide you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Some agreements have been approved in less than 24 hours.
The fastest way can be 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 upload the copies of bank statements it may take a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount, we take into consideration a range of variables to determine how much we can lend you health of your company as well as the amount of payments your company is able to afford. The amount you receive from your loan will be contingent on the specific circumstances of your company.
When you make an application for a particular amount, we look at a range of aspects to assess the well-being of the business and the amount of payments your business can afford. The total amount of your loan will be determined by the specific circumstances for your company.
When you request one of our company credit, we’ll assess the risk profile the company and provide an individualised offer, including loan amount, term and interest rates. A company loan is an upfront priced loan which means you know in advance the total amount you will have to pay, including charges or interest.
The interest rates on company loans rates differ based on various factors such as the amount that is borrowed, the company assets the funds are used to purchase, the industry the business is operating in, how long the company is in operation, what percentage of the business has sufficient cash flow to pay for the loan, and general well-being as well as creditworthiness business.
There are no hidden costs with our business loans. You’ll be aware of the amount you be required to pay, and at what time, from the very first day. There’s not any compounding interest and no extra fees (as as you make your payments on time).
We don’t charge an application fee. You are able to request a credit loan with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can decide to repay the total amount of your loan in full at any time.
If you decide to pursue this option, please speak to our friendly company loan professionals. They’ll offer you with repayment details as well as an early payout amount. It will be calculated using the sum of the principal amount remaining and accrued interest to the date of early payout in addition to 1.5% of the remaining principal and any outstanding fees.
To ensure you do not miss payment dates and to align with 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 being clear about how we collect data, process, exchange and ensure the security of your information is of huge importance and is a crucial part of our relationship you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We make use of an advanced bank verification system to instantly verify your bank account details online so we can provide rapid response.
An asset-based loan is when a business owner makes use of the assets they have to obtain a loan. The asset can be an individual asset, such as the family home or a company asset like a truck or other piece of machinery.
The majority of lenders, not just the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan then your asset may be sold by the lender. In essence, it’s means of securing new funding taking advantage of the value of what you already own.
For loans up to $150,000 no asset security is required before you are able to access the money however, we require a personal guarantee. need the personal guarantee. In the event that you fulfill the terms of your loan (as stipulated in the loan contract), asset security is not needed. For loans of over $150,000 generally, there is an individual guarantee and security in the form a charge over assets.
While we aren’t able to help with an unsecured business loan for these types of industries, we may be able to assist you by providing the secured business loan.
