A Merrimac unsecured business loan is quick and easy to obtain. Approve your loan in a matter of minutes and use the money to grow your business.
What to expect:
The criteria for eligibility for an unsecured business loan in Merrimac are fairly minimal.
Call Now 1300 059 672Making an application for an company credit in Merrimac with us is simple and only takes about a couple of minutes, there are no lengthy forms or lines.
Get approved and receive your funds in 1-2 company days.
Our focus is to assist Merrimac companies of all kinds, including medium, small and even solopreneurs access funding fast so they can utilise the loan to build and expand their business.
The requirements for getting an unsecured business loan in Merrimac of between $5K and $100K are fairly minimal.
Do you require more money? Review the guidelines for eligibility for our $100K to $500K company loans.
The criteria to be eligible to be eligible for loans from larger Merrimac company loans of between $100K to $500K comprise:
Are you looking for a lower amount of funding? Check out the guidelines for eligibility for our $5K to $100K Merrimac unsecured business loans.
A Merrimac unsecured loan is ideal for virtually every business use. Call us now.
Do you want to begin one of these options as early as tomorrow? Contact us now or apply online to apply the fastest, most convenient way.
All that’s required to begin is your contact details (company name, your name, email and telephone) and the amount you want to borrow, and your monthly income.
While in the process and before settlement we will need confirmation of who you are, but not before we can begin:
Additionally after we get started with loans over $150,000 you will also require basic financial statements.
Let’s get started.
With traditional lenders and banks restricting credit and the constant stream of non-bank and alternative loan providers that are entering the market provides an excellent source for you to make use of.
Merrimac SME’s are now capable of accessing finance through other lenders in Merrimac who are focused on facilitating company growth or smoothing out problems with cash flow. The past was when individual credit providers (drawing equity from a home loan, or using credit cards in addition to personal loans and the overdraft) could be the best alternative funding services in Merrimac that were around.
There is now an end to the requirement to depend on using real estate to secure company loan. With an unsecured loan, business financing is now easy. Instead of a traditional term loan from a bank, business finance for an SME with interest rates and loan terms that help with cash flow are available as business lending options.
There are numerous benefits with the separation of personal and company debt.
Reduce your risk, make your tax time easier, get started with an unsecured busines loan. Make an application today.
One major benefit of keeping your private and company assets separate is that your home isn’t tied to access the funds. In the case of a business loan within Merrimac up to $100K asset security won’t be needed as long as the borrower fulfills the loan requirements.
Companies are in a favourable long-term position if they have a good credit or debt serviceability.
Separating personal and business finances makes it significantly more seamless with regards to tax time, particularly when determining what is the tax deductible allocation. The IRD has outlined the guidelines for the documentation required to claim deductions on the tax return of a company. This is an area that the IRD has specifically advised on.
A well-organised cash flow management system is essential to the long-term success of any company. By maintaining personal as well as company finance separate, businesses can easily view, monitor and plan based on their ability to easily determine their cash flow status.
Merrimac unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments that are either per day or weekly.
The application for your Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and funds may be available in just 24 hours. Traditional business loans reference an interest rate per annum together with additional fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the amount you will have to pay, including the interest, fees and charges. This is then broken down into weekly or daily payment amount.
A Small Business Loan can be used for almost any business use, including managing cash flows, company renovations, marketing to purchase inventory or new equipment, as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate you cashflow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
To be eligible for a loan of this size the company needs to be in operation for at least 3 years and have an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Business Loan of a larger size can be used to fund almost every company purpose including business remodeling, buying equipment or inventory, as general working capital and much more. The loan is not available for personal use.
Asset security is needed for accessing funds over $150,000. This is as a result of an charge over assets, and may be registered on the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally in nature rather than specifying security over an asset. The person who is signing the ensure is personally liable if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR permits the priority of personal property assigned depending on the date that a registration of a security interest.
An affidavit is an official document filed to offer the legal claim on a property.
When you’re applying for the Larger Business Loan that exceeds $250,000 it is possible to offer a preliminary pre-approval to help smooth out the process. We might be able to make this decision without a credit check and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial well-being checks. It is not an offer of credit or guarantee of financing. A conditional approval is subject an assessment of your creditworthiness and any offer you are offered could be subject to different terms.
You may apply for an company loan if you;
The application process is fast and easy. Simply complete the online form in few minutes and an experienced company expert in lending will contact you to assist 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 of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent, 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often offer an answer within an hour if you submit your request at quality business hours and let us utilise the bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll provide an answer within just 1 company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be able to offer you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain transactions have received approval in 24 hours.
The quickest method is to make sure you apply during standard business hours and let us use the advance bank verification to confirm your bank details online. If you choose to send us documents from your account statements it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within one hour – as long as you apply at normal business timings and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to submit copies of your bank statements, we are able to offer an answer in just one business day.
For the Larger Business Loans ($100K up to $500,000) we might be able to provide the conditional pre-approval within about 6 hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Some transactions have received approval in 24 hours.
The quickest method can be ensure you apply during standard business hours and let us use the advanced bank verification system to instantly confirm your bank details online. If you upload the copies of bank statements, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount we take into consideration a range of aspects to determine the well-being of your business and the level of repayments your company can afford. The total amount of your loan will depend on the particular circumstances that are unique to your company.
If you apply for a particular amount, we take into consideration a variety of elements to determine how much we can lend you such as health of your business and the level of repayments your company is able to afford. The total amount of the loan will be determined by the specifics that are unique to your business.
If you decide to request our company financing, we’ll assess the risk assessment of your business and offer you with a tailored proposal that includes the amount of the loan, the duration and the interest rates. This business loan is an upfront cost loan which means you know in advance the total amount to be paid, including any interest rates, fees or charges.
Interest rates for business loans rates vary due to factors including the amount that is borrowed, what business assets the money are used to purchase as well as the field the business operates in, how long the company has been operating, how long the business has enough cash flow to cover the loan, and overall health as well as creditworthiness business.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you’ll be required to pay and at what time, from the very first day. There’s no compounding interest, and no additional fees (as as long as you pay your payments on time).
We do not charge an application fee. You are able to make an application for loans with no upfront cost or commitment to apply.
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 decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can choose to repay the entire amount of the loan at any point in time.
If you do decide to do this please contact our helpful company loan professionals. The professionals will provide you with repayment details along with an early payout estimate. The figure will be calculated as the sum of the principal amount remaining and any accrued interest at the date of early payout, plus 1.5 percent of the principal balance and any outstanding fees.
To help you avoid missing due dates and also to be in line your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from the nominated company account.
Protecting your information, and making it clear how we collect data, process, exchange and ensure the security of your information is of paramount importance and a vital part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to customer security and security. We employ an exceptionally sophisticated bank verification system to instantly confirm your bank account information online so we can provide a fast response.
The term "asset-based" refers to borrowing where a business owner uses an asset they own to secure the funding. The asset may be an individual asset, such as the family home or it could be a company asset such as a vehicle or piece or equipment.
The vast majority of the lenders even the banks with the biggest size, prefer to guarantee loans against assets. If you’re having trouble paying back the loan, then the asset could be sold by the lender. In essence it’s an opportunity to secure new funding using the value of what you already own.
For loans of up to $150K, there is no requirement for asset security prior to the loan’s access However, we do require an individual guarantee. In the event that you fulfill the loan terms (as stipulated in your loan contract), asset security is not needed. If you take out loans in excess of $150,000 typically, you will need personal guarantee and security in the form of a charge over assets.
While we aren’t able to help with an unsecure business loan in the above industries, we might be able assist by providing an secured business loan.
