A Koongamia unsecured business loan is quick and easy to obtain. Apply for a loan quickly and start using the funds for your company.
What you can expect:
The conditions for eligibility for an unsecured business loan for a business loan Koongamia are fairly minimal.
Call Now 1300 124 298Making an application for an business loans within Koongamia with us is easy and takes only less than a minute, with no piles of paperwork or long waits.
Be approved and receive your money within 1-2 business days.
We are aiming to assist Koongamia companies of all sorts small, medium even entrepreneurs to obtain quick funding so that they can make use of the loan to build and expand their business.
The requirements for obtaining an unsecured business loan in Koongamia of between $5K to $100K are quite minimal.
Need more funds? Find out the eligibility requirements for our $100K to $500K company loan.
The requirements for eligibility for the larger Koongamia business loans of between $100K and $500K consist of:
Are you looking for a lower amount of funding? Check out the guidelines for eligibility for our $5K-$100K Koongamia unsecured business loans.
A Koongamia unsecured loan is ideal for nearly every company reason. Contact us now.
Want to get started on one of these as soon as tomorrow? Get in touch with us now or apply online for the quickjest fasted way.
All you need to get started is your contact information (company name, your name, email and phone), how much you’d like to borrow as well as your monthly income.
While in the process and before settlement we will require confirmation of your identity but not for starting:
In addition, once we have started in the process, for loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started now.
With traditional and bank lenders tightening their credit terms and the constant stream of alternative and non-bank loan providers entering the market provides the perfect source to tap into.
Koongamia SME’s are now in a position to obtain finance via alternative lenders that service Koongamia who are focused on facilitating company expansion or smoothing cash flow challenges. In the past the personal sources of credit (drawing equity from a house loan, or by using credit cards, personal loans and overdrafts) was the sole alternative funding services for Koongamia that were around.
There is now there is no requirement in the present to rely on the real estate market to secure company loans. With an unsecured loan business financing is easy. Instead of a loan for a term with banks, business finance for a small business with interest rates and loan terms that help to manage cash flow are around as business loan options.
There are substantial benefits associated in separating personal from business debt.
Lower your risks, make the tax process easier, get started with an unsecure business loan. Get it today.
The main benefit of keeping your business and personal business assets apart will be the fact that your house isn’t required to be tied for access to the money. For a modest business loan in Koongamia up to $100K, asset security will not be required so long as the borrower fulfills the loan requirements.
Companies are in a advantageous long-term situation if they have a good credit or debt capacity to pay.
A separation between personal and company financial accounts makes it more straightforward in the event of tax time - particularly when determining what is the tax deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has laid out rules on the evidence required to claim deductions on an organisation’s tax return. This is an area that the IRD have specifically advised on.
Effective management of cash flows is vital to the long-term viability for any company. Through keeping your personal finances and company finances separate, companies can easily view the situation, track and plan based on their ability to easily assess their cash flow position.
Koongamia unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
The application to get 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 in your account in 24 hours. Traditional business loans refer to an interest rate per annum plus other fees and charges. Our business loan is a pre-paid loan so you will know in advance the amount you will have to pay, including any fees, charges or charges. Then, it is divided into a daily or weekly payment amount.
It is a Small Business Loan can be used for almost any business use, including cash flow management, business improvements, advertising, to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.
In order to be eligible for a loan in this amount, your company needs to be operating for a minimum of 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Larger Business Loan can be used for nearly all company reason, such as business renovations, purchase of equipment or inventory or as general working capital and much more. The loan is not available for personal purposes.
Asset security is necessary to access funding over $150,000. This can be done in the form of a charge against assets, and could include registering this in the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is generally in nature rather than stipulating the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been that are registered for personal property (including the assets or goods). The PPSR permits the priority of personal property granted according to the date the security interest has been registered.
An affidavit is an official document that is filed to provide the legal claim to a property.
When you’re applying for the Larger Business Loan of more than $250K, we may offer a preliminary pre-approval to help ease the process. We could be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering some financial well-being checks. This is not an offer or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you might receive could be subject to different terms.
You can apply for a company loan if you
The application process is simple and simple. Simply complete the online form in few minutes and a dedicated business loan specialist will contact you to help you.
To be eligible for up to $100,000 you’ll need ID details (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 also require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent, 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K to $100K) We can usually provide an answer in just one hour – as long as you make your application within quality company time and you allow us to utilise the bank verification system link to instantly verify your bank information online. If you want to upload copies of your bank statements , we’ll be able to provide an answer within just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we could be likely to offer you with conditional pre-approval within 6 hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The most efficient method would be to make sure you apply during standard company hours and let us use the advanced bank verification system to verify your bank information online. If you send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within an hour – provided you apply within normal business times and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to submit copies of your bank statements, we are able to provide the decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be likely to provide the conditional pre-approval in about 6 hours. Once you’ve 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. Certain agreements have been approved within just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours. Also, allow us to use the sophisticated bank verification link to instantly verify your bank information online. If you upload duplicates of your banking statements, it takes a bit longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a certain amount, we will consider a number of variables to determine the well-being for your company as well as the amount of the repayments your business is able to afford. The total amount of your loan will depend on the specific circumstances the business.
When you apply for a particular amount, we take into consideration a variety of aspects to determine how much we can lend you such as health for your business and the level of payments your business can support. The amount you receive from the loan will be determined by the specifics that are unique to your business.
If you decide to make an application for business loans with us company loan, we will assess the risk assessment the business and offer an individualised proposal that includes the amount of the loan, the duration and the interest rates. A company loan is an upfront priced loan and you’ll know the exact amount due, which includes any interest rates, fees or charges.
The interest rates on company loans rates depend on a variety of factors such as the amount that is of money borrowed, the business assets the money will be used for as well as the field the business operates in, how long the company has been running for, how long the business has sufficient cash flow to pay for the loan, and general health or financial standing of the business.
There aren’t any hidden costs with our business loans. You’ll know precisely what it is that you be required to pay and when, from the day you sign up. There’s not any compounding interest and no extra fees (as long as you make your payments in time).
We don’t charge an Application Fee. You can request a credit loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. This is only a 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 choose to repay the entire amount of your loan at any point in time.
If you decide to do this please call our helpful business loan specialists. We will provide you with details on repayment as well as an early payout amount. This is calculated as the sum of the remaining principal amount and the accrued interest up to the date of early payout in addition to 1.5% of the principal balance and any fees that remain unpaid.
To ensure you do not miss payment dates and to align your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from the nominated business account.
The security of your personal information, as well as knowing the ways we gather the information we collect, use, share and safeguard your data, is vital and a vital aspect of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We utilise a sophisticated banking verification system to immediately verify the bank account details online so we can offer quick responses.
An asset-based loan is when a business owner makes use of an asset they own to make the funding. The asset may be a personal asset like the family home, or an business asset such as a truck or piece of equipment.
The majority of lenders, even the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan, then your assets could be transferred to the lender. In essence it’s an opportunity to secure new financing taking advantage of the value of what you already own.
For loans up to $150,000 there is no requirement for asset security before you are able to access the money, however we require a personal guarantee. require an individual guarantee. So long as you comply with the terms of your loan (as specified in your loan contract document) Asset security will never be needed. If you take out loans in excess of $150,000 generally, there is a personal guarantee and security that is in the form a charge over assets.
Although we can’t help with an unsecure business loan for the above industries, we might be able to help you with secured business loan.
