A Lexia unsecured business loan is easy and quick to get. Approve your loan in a matter of minutes and start using the funds in your company.
What you can expect:
The eligibility requirements for an unsecured business loan within Lexia are fairly minimal.
Call Now 1300 124 298Requesting business loans in Lexia company financing within Lexia with us is simple and only takes about a couple of minutes, there are no mountains of paperwork or queues.
Get approved and receive your funds within 1 to 2 business days.
We want to assist Lexia companies of all types, whether small, medium or solopreneurs access quick funding so that they can use the loan to expand and develop.
The requirements for obtaining an unsecured business loan in Lexia of between $5K to $100K are quite minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K to $500K business credit.
The criteria for eligibility to be eligible for the larger Lexia business loans of between $100K and $500K include:
Are you looking for a lower amount of capital? Look over the guidelines for eligibility for our $5K to $100K Lexia unsecured company loans.
A Lexia unsecured loan is perfect for almost any business reason. Talk to us today.
Do you want to start working on one of these projects as soon as tomorrow? Contact us or send your application online to apply the fastest, most convenient way.
All that’s required for starting is your contact details (the name of your company, your name, email and telephone) and the amount you’d like to borrow and your monthly income.
During the process and before settlement we will require confirmation of your identity but not for starting:
In addition, once we have started, for loans over $150,000 you will also need basic financial statements:
Let’s get started now.
With traditional lenders and banks increasing their credit requirements as well as the continuous stream of alternative and non-bank loan providers entering the market offers a great resource to access.
Lexia SME’s are now being able to get finance from alternative lenders that service Lexia who are focused on facilitating business growth or smoothing the cash flow problems. In the past, personal credit sources (drawing equity from the home loan, or by using credit cards or personal loans, as well as overdrafts) provided the most viable alternative funding solutions for Lexia that were around.
There is now not a need of having to rely on real estate to secure company credit. With an unsecured loan business funding is made simple. Instead of a term loan through a bank, business finance for a small business with interest rates and loan terms that help in cash flow are available as business credit options.
There are many benefits by separating personal and business debt.
Limit your exposure, make your tax time simpler, start with an unsecure busines loan, apply today.
One major benefit of keeping your individual and company assets apart can be that your home does not have to be tied to the funds. In the case of a business loan in Lexia up to $100K asset security won’t be required as in the event that the borrower has met their loan obligations.
Companies will be in a advantageous long-term situation if they are able to demonstrate credit/debt capability.
A separation between personal and company financial accounts makes it more seamless when it comes to tax time, particularly when determining the tax-deductible amount. The IRD has set out the guidelines on the proof required in order to deduct deductions from a company’s tax return. This is an area the IRD have specifically advised on.
Effective cash flow management is key for the longevity that of any company. By keeping personal and business finance separate, companies can easily view how they are performing, monitor and plan on their ability to accurately evaluate their cash flow situation.
Lexia unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and the funds could be available in just 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. This company loan is a cash-based loan and you’ll be aware in advance of the total amount due, which includes any fees, charges or charges. Then, it is broken down into weekly or daily payment amount.
The Small Business Loan can be used for almost any business reason, such as managing cash flows, company remodels and marketing to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount, your company needs to have been operating for a minimum of 3 years and have an annual turnover of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used to fund almost any business reason, such as business renovations, to purchase equipment or inventory for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for funding of more than $150,000. It is usually as a result of an charge on assets, which could also include registration through the PPSR or making a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is general in nature rather than specifying the security of a specific asset. The person signing the guarantee is personally liable in the event that the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including the assets or goods). The PPSR permits priority over personal property to be granted in accordance with the date on which a registration of a security interest.
Caveats are legal document that is filed to offer the legal claim to a property.
If you’re seeking an enterprise loan that is greater than $250,000, we may offer an initial pre-approval to simplify the process. We might be able to get this done without a credit verification and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes the answer to a series of financial well-being questions. It’s not an offer or guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you might receive could be subject to different conditions.
You may be eligible for a company loan if you:
The application process is simple and simple. Simply complete the online form within a couple minutes, and a dedicated company lending specialist will contact you to guide you through the process.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K to $100K) we can often provide an answer within one hour, provided you make your application in quality company timings and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements , we will be able to provide a decision within one company day.
For Larger Business Loans ($100K or more) we could be likely to offer you with pre-approval conditional to your application within about six hours. Once you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain agreements have been approved within just 24 hours.
The most efficient method can be ensure you apply during normal company hours. Also, allow us to use the advance bank verification link to instantly verify your bank account information online. If you decide to upload documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often provide a response in one hour, provided you make your application at standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statement, we’ll offer the decision in as little as the span of one business day.
For Larger Business Loans ($100K or more) we could be in a position to provide you with a conditional pre-approval in around six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this can be faster depending on the particular circumstances of each application. Some offers have been approved in less than 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours. You can also let us use the advanced bank verification system link to verify your bank account information online. If you choose to send us documents from your account 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 consider a variety of aspects for determining what is the health that is your company and the extent of payments your company is able to afford. The total amount of your loan will depend on the specifics the company.
When you submit an application for a particular amount, we look at a range of factors to assess your well-being for your company and the level of repayments your business will be able to support. The amount you receive from your loan will depend on the specifics the business.
If you decide to request one of our business credit, we’ll assess the risk profile of your business and offer you with a customised offer, including the amount of the loan, the duration and interest rates. The company loan is an upfront priced loan so you will be aware of the total amount to be paid, including any interest rates, fees or charges.
The interest rates on business loans rates depend on a variety of variables like the amount to be borrowed, what company assets the money are used to purchase and the sector the business operates in, how long the business has been running for, in the event that the company has enough cash flow to support the loan, and also the overall health or creditworthiness of the business.
There aren’t any hidden charges with our business loans. You’ll know precisely how much you be required to pay and at what time, from the first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can request a credit loan with without any upfront costs or the obligation to take action.
The Origination Fee includes the expenses associated with establishing and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay the entire amount of your loan at any point in time.
If you choose to take this route, please call our helpful business loan professionals. They will provide you with details on repayment and an early payment figure. This will be calculated as the total of the principal balance and the accrued interest up to the time of early payout in addition to 1.5% of the remaining principal as well as any outstanding fees.
To make sure that you don’t miss repayments and to fit in with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your company account.
Making sure that your information is secure, and making it clear the ways we gather the information we collect, use, share and safeguard your data, is crucial and an integral part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to customer security and security. We employ a highly sophisticated bank verification system to immediately verify your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where a business owner makes use of an asset that they own to get the funding. The asset may be an individual property, such as the family home, or it could be a company asset like a truck as well as a piece of machine.
The majority of lending institutions, including the largest banks, are inclined to secure loans against assets. If you have trouble paying back the loan, your assets could be transferred to the lender. In essence, it’s the process of securing new financing by using the value of what you already have.
For loans up to $150,000 the requirement for asset security is not required before you can access the money However, we do need a personal guarantee. So long as you comply with your loan commitments (as specified in your loan contract) and you are able to meet your obligations, asset security is not required. For loans that exceed $150K, generally, there is personal ensure and security is provided in the form of a charge over assets.
Although we can’t help with an unsecured business loan in these industries, we may be able to help you with an secured business loan.
