An Ultimo unsecured business loan is quick and easy to apply for. Apply for a loan quickly and start using the funds to grow your business.
What to expect:
The eligibility requirements for an unsecured business loan within Ultimo are fairly minimal.
Call Now 1300 540 208Requesting the business loan within Ultimo with us is easy and takes just less than a minute, with no piles of paperwork or long waits.
Be approved and receive your funds within 1-2 company days.
We aim to help Ultimo businesses of all types, whether small, medium or solopreneurs access funding fast so they can make use of the loan to grow and build.
The criteria for eligibility for an unsecured business loan in Ultimo of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company financing.
The criteria for eligibility for the larger Ultimo business loans of between $100K and $500K are:
You are looking for a lesser amount of money? Look over the conditions for eligibility for our $5K-$100K Ultimo unsecured business loans.
An Ultimo unsecured loan is great for virtually every business need. Get in touch with us today.
Do you want to start working on one of these options as early as tomorrow? Get in touch with us today or send an application online for the quickjest fasted way.
All you need for starting is your contact information (company name, your name, email and phone), how much you’d like to lend, and your monthly income.
In the course of the process and before settlement we will require confirmation of who you are but not to get started:
Once we’ve started in the process, for loans over $150,000 you will also need basic financial statements.
Let’s get started.
With traditional and bank lenders restricting credit, the steady stream of non-bank and alternative loan providers that are entering the market offers a great resource to access.
Ultimo SME’s are now in a position to obtain finance via alternative lenders that service Ultimo who are focused on facilitating business growth or smoothing out cash flow challenges. In the past the personal sources of credit (drawing equity from a house loan, or by using credit cards or personal loans, as well as the overdraft) could be the best alternative financing solutions available in Ultimo that were available.
There’s not a need for you to depend on the real estate market to secure business loans. With an unsecured loan, business funding is made simple. Instead of a term loan through banks, business finance for a small company with interest rates and loan terms that can help to manage cash flow are around as business credit options.
There are many advantages associated by separating personal and company debt.
Reduce your risk, make the tax process more simple, apply for an unsecured busines loan. Make an application today.
One major benefit of keeping your business and personal company assets separate will be the fact that your house isn’t required to be tied to access the funds. For a modest business loan within Ultimo up to $100K asset security won’t be required so long as the borrower meets the loan requirements.
Businesses are in a more stable long-term position when they can show good credit and debt serviceability.
A separation between personal and business finances makes it significantly more straightforward in the event of tax time - particularly when determining what is the tax-deductible amount. The IRD has set out the requirements for evidence to be able to claim deductions on an individual’s tax return. This is a subject that the IRD has specifically advised on.
Effective management of cash flows is essential to the long-term survival of any company. By keeping the personal financial and business finances separate, companies can easily view the situation, track and plan based on their ability to easily examine their cash flow.
Ultimo unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes over the phone, receive an instant response and have the funds in your account within 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. The company loan is a loan that is priced upfront which means you know ahead of time the total amount payable including any fees, interest 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 need, such as cash flow management, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount, your company needs to have been trading for at least 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (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 for almost every business reason, such as business renovations, purchase of new equipment or inventory for general working capital and much more. The loan is not available for personal purposes.
Asset security is needed for funding of more than $150,000. This can be done as a result of an charge against assets, which could also include the registration of this in the PPSR or filing a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature, rather than defining security over an asset. The person who is signing the ensure is personally liable in the event that the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR gives the priority of personal property granted according to the date a security interest that is registered.
An affidavit is an official document lodged to offer the public notice of a legal claim to a property.
When you’re applying for an enterprise loan that is greater than $250,000 we may be able to provide an initial pre-approval to smooth out the process. We may be able to get this done without credit checks and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial well-being questions. It’s not an offer of credit or guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you receive could be based on different conditions.
You can apply for an business loan if you
The application process is fast and simple. Simply complete the online form within a few minutes and a dedicated company lending specialist will call you to help you.
To apply for up $100,000, you’ll require the right identification documents (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Application details including credit consent and 12 months of bank statements, IRD statement as well as the two most recent years’ financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) we can often provide an answer within one hour if you submit your request in quality company times and you allow us to utilise the bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statements we can provide an answer in just one company day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be in a position to provide you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some offers have been approved within 24 hours.
The quickest way to apply can be make sure you apply during normal business hours. Also, let us use the modern bank verification to verify your bank account information online. If you send us duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within an hour, provided you make your application within standard business times and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements, we will be able to provide the decision in just the span of one business day.
For the Larger Business Loans ($100K or more) we might be capable of offer you with conditional pre-approval within six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this can be faster depending on the specifics of each application. Some agreements have been approved in less than 24 hours.
The fastest way would be to make sure you apply during normal business hours, and allow us to use the modern bank verification link to check your bank’s information online. If you decide to send us documents from your account statements, it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of variables in order to assess the health for your business and the extent of the repayments your company can support. The amount you receive from the loan will be determined by the specific circumstances of your business.
When you apply for a particular amount, we take into consideration a variety of aspects to assess your well-being of your company and the amount of repayments your company is able to afford. The amount you receive from your loan will depend on the particulars the business.
If you decide to make an application for our company loan, we will assess the risk assessment of your business and provide you with a tailored offer, including the loan amount, the terms and interest rates. This business loan is an upfront priced loan which means you be aware in advance of the total amount due, which includes any charges, interest rates or fees.
The interest rates on company loans rates differ based on various factors like the amount of money of money borrowed, the business assets the money are used to purchase in addition to the industry that the business operates in, how long the company has been running as well as how long the business has enough cash flow to cover the loan, as well as the overall well-being and creditworthiness of the business.
There aren’t any hidden charges for our business loans. You’ll know precisely what it is that you need to pay, and at what time, from the first day. There’s no compounding interest and no additional fees (as long as you make your payments on time).
We do not charge an Application Fee. You can request a credit loan no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can decide to repay all of your loan in full at any time.
If you choose to do this please talk to one of our helpful business lending professionals. They’ll provide you with details on repayment and an early payment figure. This will be calculated as the total of the principal balance plus any accrued interest as of the date of early payout and 1.5% of the principal balance and any fees that remain unpaid.
To make sure you do not miss repayments and to fit in with your cash flow routine, we offer repayments that are either daily or weekly. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and secure your information, is vital and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We make use of an advanced bank verification system that allows you to immediately verify your bank account details online, allowing us to offer a fast response.
Asset-based borrowing is when the company owner makes use of assets they own to make the funding. The asset could be an asset belonging to the personal, like the family home or a business property like a truck or piece of equipment.
The majority of lending institutions, not just the banks with the biggest size, prefer to make loans secured by an asset. If you are having difficulty paying back the loan, then the asset might be offered for sale by the lender. In essence, it’s a way of securing new financing by using the worth of the asset you already have.
Up to $150K in loans there is no requirement for asset security in advance to gain access to the funds However, we do require a personal guarantee. If you adhere to the loan terms (as stipulated in the loan contract) Asset security will never be needed. For loans over $150,000 typically, you will need personal guarantee and security in the form the charge of assets.
Although we can’t help with an unsecure business loan in the above industries, we might be able to assist you by providing a secured business loan.
