A Mundijong unsecured business loan is simple and quick to get. Approve your loan in a matter of minutes and use the money to grow your company.
You can expect:
The criteria for eligibility for an unsecured business loan within Mundijong are fairly minimal.
Call Now 1300 124 298The process of applying for an business credit in Mundijong with us is easy and takes only less than a minute, with no mountains of paperwork or queues.
Receive approval and funds in 1 to 2 business days.
We are aiming to assist Mundijong businesses of all types, whether small, medium or solopreneurs access funding fast so they can use the loan to expand and develop.
The requirements for getting an unsecured business loan in Mundijong of between $5K to $100K are quite minimal.
Are you looking for additional funding? Review the eligibility requirements for our $100K to $500K business loan.
The eligibility requirements to be eligible for the larger Mundijong business loans of between $100K and $500K include:
Looking for a smaller amount of money? Take a look at the guidelines for eligibility for our $5K to $100K Mundijong unsecured business loans.
A Mundijong unsecured loan is great to use for any company need. Call us now.
Do you want to begin one of these options as early as tomorrow? Then get in touch with us or send your application online to get the fastest and most effective process.
All that’s needed to begin is your contact details (company name and your name, as well as email and telephone) along with the amount you’d like to borrow, as well as your monthly income.
While in the process and before settlement we will need confirmation of your identity but not before we can begin:
In addition, once we have started with loans that exceed $150,000, you will also require the following financial statements:
Let’s get started now.
In the wake of traditional lenders and banks restricting credit, the steady stream of non-bank and alternative loan providers that are entering the market offers a great resource for you to make use of.
Mundijong SME’s are now capable of accessing finance through alternate lenders servicing Mundijong who are focused on enabling company growth or smoothing the cash flow problems. The past was when private credit options (drawing equity from a house loan, or using credit cards in addition to personal loans and overdrafts) could be the best alternative funding solutions available in Mundijong that were around.
There’s no requirement to depend on using real estate to secure business loans. With an unsecured loan business financing is now easy. Instead of a term loan through a bank, business finance for a small business with interest rates and loan terms that aid with cash flow are available as business loan options.
There are many advantages associated by separating personal and company debt.
Limit your exposure, and make tax times simpler, start with an unsecure busines loan, apply today.
One big drawcard for keeping your personal and business assets apart will be the fact that your house isn’t tied to the funds. In the case of a business loan within Mundijong up to $100K an asset security agreement will not be required as long as the borrower meets the loan requirements.
Companies are in a favourable long-term financial position if they can demonstrate good credit/debt serviceability.
Separating personal and company finances makes it significantly more straightforward with regards to tax time - particularly when determining the tax-deductible amount. Particularly when determining what is the tax deductible allocation. IRD has outlined the requirements for evidence for claiming deductions on a company’s tax return. This is an area the IRD has specifically advised on.
Effective cash flow management is key for the long-term viability in any company. Through keeping personal and company finances separate, businesses can easily view their cash flow, plan and monitor it based on the ability to clearly determine their cash flow status.
Mundijong unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes via the internet or over the phone, receive an answer within the same day and have the funds in your account in 24 hours. Traditional business loans refer to an annual rate of interest as well as other fees and charges. Our business loan is a loan that is priced upfront therefore you’ll know in advance the total amount payable 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 for virtually every company use, including cash flow management, business remodels and marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range between $100,000 and $500,000 for a fixed period of with a maximum of 36 months. Repayments are weekly or fortnightly in order to accommodate the flow of cash.
It is crucial to note that 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 in this amount the business needs to have been operating for at least three years and generate an annual revenue of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large company loan can be used for almost any company need, including company renovations, purchase of equipment or inventory as well as for general working capital and so much more. The loan is not available for personal use.
Asset security is needed to obtain funding above $150,000. It’s in the form of a charge against assets and can be registered through the PPSR or the registration of a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is general in nature, rather than defining the security for a particular asset. The person who is signing the ensure is personally liable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including objects or assets). The PPSR allows the priority of personal property granted according to the date a security interest has been registered.
Caveats are legal form of document to offer the legal claim on a property.
When you’re applying for the Larger Business Loan of $250,000 or more we may be able to provide an initial pre-approval in order to simplify the process. We may be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial well-being questions. It’s not an offer or guarantee of funds. The approval of a conditional loan is subject to a full credit assessment and any offer that you receive could be subject to different conditions.
You may be eligible for a company loan if you;
The application process is quick and easy. Simply complete the online form within a few minutes and an experienced company loan specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License) along with a valid NZBN/IRD and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Application details including credit consent and 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we usually offer a response in one hour, provided you submit your request at standard business hours and let us use the advanced bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements we can offer an answer in just one company day.
If you are applying for a Larger Business Loan ($100K and up) we could be likely to offer the conditional pre-approval in about six hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Certain transactions have received approval within just 24 hours.
The quickest method is to make sure you apply during normal company hours. Also, allow us to use our advance bank verification to instantly confirm your bank details online. If you decide to upload copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within an hour, provided you submit your request in normal business timings and you allow us to use the bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements, we are able to provide a decision in just the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we might be capable of provide the conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some offers have been approved within just 24 hours.
The fastest method can be ensure you apply during standard business hours. Also, allow us to use our advanced bank verification system to instantly verify your bank account information online. If you send us documents from your account statements, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you submit an application for a particular amount, we look at a variety of variables to determine how much we can lend you health of your company and the level of repayments that your company is able to afford. The amount you receive from your loan will be contingent on the specific circumstances the company.
If you apply for a certain amount, we consider a variety of variables to assess how much we can lend you such as well-being of the business as well as the amount of repayments that your company is able to afford. The total amount of the loan will be determined by the particulars for your business.
When you apply for our business loans, we will assess the risk profile of your company and provide you with a tailored offer, including the amount of the loan, the duration and interest rates. A company loan is an upfront-priced loan which means you know in advance the total amount payable including any charges, interest rates or fees.
Business loan interest rates differ based on various factors including the amount of money borrowed, the business assets the funds will be used for in addition to the industry that the business operates in, how long the business has been in operation and in the event that the company has enough cash flow to fund the loan, and overall health or creditworthiness of the business.
There are no hidden costs with our company loans, and you’ll know precisely what it is that you need to pay, and when, right from the first day. There’s not any compounding interest and no extra fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You can make an application for loans with without any upfront costs or the obligation to take action.
The Origination Fee covers the costs associated in establishing and managing the loan. It is only charged for this 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 total amount of your loan at any point in time.
If you decide to take this route, please contact our helpful company credit professionals. They’ll provide you with repayment details and an early payout figure. It will be calculated using the sum of the principal balance and the accrued interest up to the time of the early payout and 1.5% of the principal balance and any outstanding fees.
To ensure that you don’t miss due dates and also to be in line your cash flow schedule, we provide payments that are either weekly or daily. These are automatically deducted from your designated business account.
Security of your data, and being clear about how we collect data, process, exchange and secure your information, is crucial and is an essential element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We use an advanced bank verification system link to immediately verify your bank account information online to provide a fast response.
Asset-based borrowing is when the company owner borrows from an asset that they own to make a loan. The asset can be either an asset belonging to the personal, like the family home, or it could be a company asset such as a truck or other piece of machinery.
The majority of the lenders including the largest banks, are inclined to guarantee loans against an asset. If you are having difficulty paying back the loan, then your assets could be offered for sale by the lender. In essence it is an opportunity to secure new financing by using the value of what you already have.
For loans of up to $150K, no asset security is required upfront to access the money but we do require the personal guarantee. As long as you follow your loan obligations (as specified in your loan contract), asset security will never be required. For loans over $150,000 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 those industries, we might be able assist by providing a secured business loan.
