A Wungong unsecured business loan is quick and simple to get. Get a quick apporval and use the money for your business.
What you can expect:
The eligibility requirements for an unsecured business loan within Wungong are fairly minimal.
Call Now 1300 124 298Applying for an company loans in Wungong with us is easy and takes only some minutes, without mountains of paperwork or queues.
Be approved and receive your money within 1 to 2 company days.
We aim to help Wungong businesses of all types, whether small, medium or solopreneurs to access funding fast so they can use the loan to expand and grow.
The eligibility requirements for an unsecured business loan in Wungong of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business loan.
The criteria for eligibility to be eligible for larger Wungong business loans of between $100K and $500K are:
Are you looking for a lower amount of funding? Find out the guidelines for eligibility for our $5K-$100K Wungong unsecured business loans.
A Wungong unsecured loan is great for nearly every business use. Call us now.
Are you looking to start one of these as soon as tomorrow? Contact us today or send an application online to apply the fastest, most convenient way.
All that is needed to start is your contact details (the name of your company, your name, email, phone) as well as the amount you’d like to borrow and your monthly earnings.
Through the process and before settlement we will require confirmation of who you are but not to get started:
After we start in the process, for loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
With banks and traditional lenders tightening credit conditions, the steady stream of alternative and non-bank loan providers entering the market provides the perfect source for you to tap into.
Wungong SME’s are now being able to get finance from alternative lenders that service Wungong who are focused on enabling business expansion or smoothing cash flow issues. The past was when individual credit providers (drawing equity from a house loan or credit cards in addition to personal loans and the overdraft) were the only alternative financing solutions for Wungong that were around.
There’s not a need to depend on the real estate market to secure business loan. With an unsecured loan business funding is made simple. Instead of a term loan through a bank, business finance for an SME with interest rates and loan terms that can help in cash flow are available as business lending options.
There are many advantages associated in separating personal from company debt.
Lower your risks, make the tax process simpler, start with an unsecure loan for business, apply today.
One major benefit of keeping your private and business assets separate will be the fact that your house isn’t tied to access the funds. In the case of a business loan within Wungong up to $100K, asset security will not be required so long as the borrower is able to meet the loan requirements.
Businesses are in a more advantageous long-term situation if they can demonstrate good credit/debt serviceability.
The separation of personal as well as business finances makes it more straightforward with regards to tax time, particularly when identifying what is the tax deductible allocation. Particularly when determining what is the tax deductible allocation. IRD has laid out rules on the evidence required for claiming deductions on an individual’s tax return. This is an area the IRD has advised specifically on.
Effective cash flow management is essential to the longevity that of any company. By maintaining personal as well as business finance separate, businesses can easily view their cash flow, plan and monitor it based on the ability to clearly examine their cash flow.
Wungong unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
It is imaginable to apply to get this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the money could be available in just 24 hours. Traditional company loans reference an annual rate of interest along with other charges and fees. We offer a business loan is a pre-paid loan which means you know ahead of time the total amount due, which includes any fees, interest or charges. This is then broken down into weekly or daily payment amount.
The Small Business Loan can be used for virtually any business use, including control of cash flow business improvements, advertising for purchasing 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 size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
In order to be eligible for a loan of this size, your business needs to have been in operation for at least 3 years and have an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost every company purpose including company improvements, purchasing new equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary to access funding over $150,000. This is by taking a charge on assets, and could include registering this on the PPSR or registering a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is general in nature rather than stating the security of a specific asset. The person signing the ensure is personally accountable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR grants priority over personal property to be assigned according to the date the security interest was registered.
The caveat can be described as a formal document filed to provide the legal claim on a property.
If you’re applying for a Larger Business Loan of $250K or more we can offer a preliminary pre-approval to help smooth out the process. We could be able to make this decision without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial well-being checks. It is not an offer of credit or guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you may receive may have different terms.
You may apply for an business loan if you;
The application process is fast and simple. Complete the online form within a few minutes and an experienced company expert in lending will be in touch to guide you.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Information on the application including credit consent as well as 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) we typically offer an answer within an hour if you submit your request during quality business timings and allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your banking statement, we’ll offer the decision in as little as one company day.
For Larger Business Loans ($100K and up) we could be likely to offer you with pre-approval conditional to your application within about 6 hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the specifics of each application. Some agreements have been approved in the space of 24 hours.
The fastest way would be to ensure you apply during normal company hours and permit us to use the advance bank verification link to instantly check your bank’s 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 can often offer an answer in just one hour – as long as you apply within normal business timings and allow us to use the bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements we can provide a decision in as little as the span of one business day.
For Larger Business Loans ($100K and up) we may be likely to provide the conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Certain agreements have been approved within 24 hours.
The fastest way would be to make sure you apply during standard business hours, and permit us to use the sophisticated bank verification to instantly check your bank’s information online. If you decide to upload documents from your account statement, it may take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a specific amount we consider a variety of elements that determine your well-being of the company and the extent of repayments that your business will be able to support. The amount you receive from your loan will depend on the particular circumstances that are unique to your company.
When you make an application for a specific amount we take into consideration a variety of aspects to determine how much we can lend you such as well-being that is your business and the extent of repayments your company will be able to support. The amount you receive from your loan will depend on the particulars that are unique to your company.
If you decide to make an application for the business loans, we’ll assess the risk profile that you have for your company and provide an individualised offer including the amount of the loan, the duration and interest rates. This company loan is an upfront cost loan so you will be aware in advance of the total amount payable including any charges, interest rates or fees.
Interest rates for company loans rates depend on a variety of factors including the amount borrowed, what company assets the funds will be used for and the sector the company operates in, the long the business has been running and whether the company has sufficient cash flow to support the loan, and general well-being or creditworthiness of the business.
There are no hidden fees for our company loans. You’ll know precisely how much you need to pay and when, right from the day you sign up. There’s no compounding interest, and no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to request a credit loan no cost upfront or the obligation to take action.
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% of the loan amount.
You can repay all of your advance loan at any time.
If you decide to take this route, please speak to our friendly business loans specialists. They will provide you with repayment details and an early payout figure. This is calculated as the total of the principal balance plus any accrued interest as of the time of early payout plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure you do not miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. They are automatically deducted from your nominated business account.
Protecting your information, and being transparent about how we collect the information we collect, use, share and secure your information, is vital and is a crucial aspect of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We utilise a sophisticated bank verification system link to instantly verify your bank account information online. This allows us to offer a fast response.
Asset-based borrowing is when the business owner utilises assets they own to make a loan. The asset can be an individual asset, such as the family home, or an company asset such as a vehicle or piece of equipment.
The vast majority of lenders, including the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan, then your assets could be taken over by the lender. In essence it is means of securing new funding using the worth of the asset you already own.
For loans of up to $150,000, no asset security is required upfront to access the money but we require a personal guarantee. need an individual guarantee. In the event that you fulfill your loan obligations (as stated in your loan contract) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150,000, typically, you will need an individual ensure and security is provided in the form of charges on assets.
Although we can’t help with an unsecured business loan in those industries, we might be able to assist you by providing secured business loan.
