A Lexia unsecured business loan is quick and simple in applying for. Approve your loan in a matter of minutes and start using the funds in your company.
You can expect:
The conditions for eligibility for an unsecured business loan for a business loan Lexia are fairly minimal.
Call Now 1300 124 298The process of applying for an company financing within Lexia with us is simple and only takes a few minutes, no piles of paperwork or long waits.
Receive approval and cash within one to two business days.
Our purpose is to assist Lexia businesses of all kinds, from small to medium-sized soloprenuers to get access to funding fast so they can utilise the loan to build and expand their business.
The eligibility requirements for an unsecured business loan in Lexia of between $5K and $100K is fairly low.
Looking for more funding? Review the guidelines for eligibility for our $100K to $500K business loan.
The requirements for eligibility of larger Lexia company loans of between $100K and $500K consist of:
Do you require a smaller amount of funding? Take a look at the conditions for eligibility for our $5K-$100K Lexia unsecured business loans.
A Lexia unsecured loan is ideal for almost every business purpose. Contact us now.
Do you want to begin one of these as soon as tomorrow? So, contact us today or send an application online to get the fastest and most effective process.
All that is needed to begin is your contact information (company name, your name, email or phone number) and the amount you’d like to lend, and your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not to get started:
Additionally after we get started, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
With banks and traditional lenders tightening credit conditions and the constant stream of alternative and non-bank loan providers that are entering the market offers an incredible source for you to make use of.
Lexia SME’s are now in a position to obtain finance via other lenders in Lexia who are focused on enabling company growth or smoothing out problems with cash flow. In the past individual credit providers (drawing equity from the house loan, or by using credit cards and personal loans as well as credit cards) provided the most viable alternative funding services for Lexia that were available.
There’s there is no requirement for you to depend on real estate to secure business lending. With an unsecured loan business financing is easy. Instead of a term loan with banks, business finance for an SME with interest rates and loan terms that aid with cash flow are around as business loan options.
There are many benefits in separating personal from company debt.
Limit your exposure, and make tax times simpler, start with an unsecure loan for business. Make an application today.
One big drawcard for keeping your individual and business assets separate can be that your house does not have to be tied for access to the money. For a small business loan within Lexia up to $100K an asset security agreement will not be required as long as the borrower meets their loan obligations.
Businesses are in a more stable long-term position when they can show good credit and debt ability to service.
It is important to separate personal from company finances makes it much more straightforward in the event of tax time - especially when it comes to determining the tax deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has laid out guidelines for the documentation required in order to deduct deductions from an individual’s tax return. This is an area where the IRD has specifically advised on.
Effective management of cash flows is essential to the longevity for any company. Through keeping your personal finances and business finance separate, businesses can easily view, monitor and plan based on their ability to easily assess their cash flow position.
Lexia unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
The application to your Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and the funds could be in your account in 24 hours. Traditional business loans refer to an annual rate of interest together with additional fees and charges. We offer a business loan is a pre-paid loan and you’ll be aware in advance of the total amount payable including any interest, fees or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly any company use, including cash flow management, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. The repayments are made weekly or fortnightly depending on you cashflow.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the loan amount.
To qualify for a loan of this size, your company needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A large business loan can be used to fund almost all business purpose including business renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed to obtain funding above $150,000. This is by taking a charge over assets and can be registered with the PPSR or the registration of a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature rather than stipulating the security of a specific asset. The person who signs the ensure is personally liable if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted according to the date the security interest that is registered.
The caveat can be described as a formal document lodged to offer notice of a legal claim on a property.
If you’re applying for the Larger Business Loan of $250,000 or more we can offer an initial pre-approval in order to ease the process. We could be able to make this decision without a credit check and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is neither an offer nor a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you receive could be subject to different conditions.
You may be eligible for an business loan if you;
The application process is quick and easy. Complete the online form in few minutes and an experienced business expert in lending will be in touch to guide you through the process.
To apply for up $100,000, you’ll need identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Application details including credit consent and 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we can often provide a response in one hour if you make your application at quality company times and allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements , we will be able to provide an answer within an business day.
For the Larger Business Loan ($100K and up) we might be able to provide you with pre-approval conditional to your application within six hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some offers have been approved within just 24 hours.
The most efficient method for you to apply is ensure you apply during normal company hours. Also, let us use the modern bank verification link to instantly verify your bank information online. If you choose to upload duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide a response in one hour – provided you apply in standard business hours and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements, we will be able to offer an answer in as little as one business day.
For the Larger Business Loans ($100K or more) we could be likely to offer you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval in the space of 24 hours.
The fastest way can be ensure you apply during standard business hours, and allow us to use our modern bank verification link to instantly check your bank’s information online. If you choose to upload the copies of bank accounts, it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a specific amount we take into consideration a range of elements that determine the well-being that is your company and the extent of repayments that your company can support. The total amount of your loan will be contingent on the particular circumstances of your business.
If you apply for a set amount, we look at a range of variables to assess your well-being of the company and the amount of repayments that your company can support. The total amount of your loan will be contingent on the specifics that are unique to your company.
If you decide to request the business financing, we will assess the risk profile the business and offer an individualised offer including the amount of the loan, the duration and interest rates. It is a company loan is an upfront-priced loan so you will know in advance the total amount to be paid, including any costs, fees, or interest rates.
The interest rates on business loans rates vary due to factors like the amount of money of money borrowed, the company assets the money are used to purchase in addition to the industry that the company is operating in, how long the business has been operating as well as what percentage of the company has enough cash flow to cover the loan, and also the general health and creditworthiness of the company.
There are no hidden fees for our company loans, and you’ll know precisely how much you need to pay and when, right from the first day. There’s not any compounding interest and no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You are able to request a credit loan without any upfront costs or commitment to apply.
The Origination Fee covers the costs 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% of the loan amount.
You can choose to repay all of your loan early at any time.
If you decide to do this please contact our helpful business credit specialists. We will provide you with repayment details as well as an early payout amount. This is calculated as the total of the principal amount remaining and the accrued interest up to the time of early payment and 1.5 percent of the principal balance as well as any outstanding fees.
To ensure that you don’t miss due dates and also to be in line your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from the nominated business account.
Protecting your information, and making it clear how we collect the information we collect, use, share and ensure the security of your information is of huge importance and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We make use of an advanced banking verification system to immediately verify your bank account details online, allowing us to provide rapid response.
Asset-based borrowing is when an business owner utilises assets they own to secure the funds for a loan. The asset could be an asset belonging to the personal, like the family home, or it could be a company property like a truck or other piece of machinery.
The majority of banks, even the big banks, tend to guarantee loans against assets. If you’re struggling to pay back the loan, then the asset might be taken over by the lender. In essence, it is means of securing additional financing taking advantage of the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets prior to the loan’s access however, we do need a personal guarantee. So long as you comply with the terms of your loan (as detailed in the loan contract), asset security is not needed. For loans of over $150K generally, you are able to get a personal ensure and security is provided in the form of charges on assets.
While we aren’t able to help with an unsecure business loan for these types of industries, we may be able assist by providing secured business loan.
