What type of loans do you provide?
Working capital injection up to $100,000 over 12 months. Weekly repayments to suit cash flow. Perfect for low seasons, stock purchases, creditor or IRD payments.
Asset Finance up to $250,000 for vehicles, machinery, plant or equipment. Security taken over the asset being purchase. Rates from 9.95%. Terms to suit.
Note: Above is our standard criteria, however we have from time to time lent money to property developers (millions), helped set-up new companies, purchase franchises. We are happy to consider any request. Our speciality is looking outside the square
What is your credit criteria?
No fixed criteria other than some trade history – suggest minimum of 9 months and bank statements that demonstrate that you can afford the payments. We are flexible in terms of credit rating and type of industry. We are here to help and will structure a loan offer to suit your individual circumstances
Who do you lend to?
Limited companies, sole traders, partnerships and trusts. Not able to lend to individuals. You will need to be GST registered to be approved.
What are your fees?
Our minimum application fee is $995 up to a maximum of 4% of the loan amount.
What are your interest rates?
Working capital ranges from 2% to 3% per month depending on the quality of the application. These are short-term loans funded from cash-flow. Usually unsecured or GSA over the business for the term of the loan.
What is the loan term?
Up to 12 months for working capital with option to redraw after 6 months and up to 7 years for asses purchases. This is dependant on the type of asset being purchased.
What is the application process?
Very easy. Complete the short form to start the process. You will then a slightly longer form to complete with your application meets minimum criteria. Complete this and send bank statements via a digital link. Your application will then be assessed with an approval issued in less than 24 hours.
What if I have bad credit?
We are very flexible – happy to consider any application and bad credit is typically not a reason for a decline. Most declines are due to affordability
What insurance do I need?
Any asset being purchased will need to be insured. We can assist you with this and for a working capital loan we highly recommend business interruption insurance. This can be financed on top of your loan advance.
What is a GSA?
A GSA (General Security Agreement) may be required for a working capital loan. This is dependant on the strength of the business and amount of the loan. This document gives us security over your business so in the event of default we can appoint a Receiver.
Do I need additional security?
No further security is required for a Working Capital loan and where Asset Finance we simply take security over the asset being purchase.
Do all Directors need to be on the loan?
Yes
Do I need to be a home owner?
No.
