A The Patch unsecured business loan is quick and easy to apply for. Apply for a loan quickly and start using the funds to grow your company.
You can expect:
The eligibility requirements for an unsecured business loan for a company loan The Patch are fairly minimal.
Call Now 1300 931 496Applying for an company loans within The Patch with us is simple and only takes less than a minute, with no mountains of paperwork or queues.
Be approved and receive your funds within 1 – 2 business days.
We aim to help The Patch businesses of all kinds, including medium, small and even solopreneurs access quick funding so that they can make use of the loan to build and expand their business.
The requirements for getting an unsecured business loan in The Patch of between $5K and $100K are fairly minimal.
Do you need more money? Find out the eligibility requirements for our $100K to $500K business financing.
The criteria for eligibility of the larger The Patch company loans of between $100K and $500K include:
Are you looking for a lower amount of funding? Check out the eligibility requirements for our $5K-$100K The Patch unsecured company loans.
A The Patch unsecured loan is great for almost any business use. Call us now.
Do you want to begin one of these as soon as tomorrow? Contact us or apply online now to get the fastest and most efficient process.
All that is needed to start is your contact details (company name and your name, as well as email and telephone) as well as the amount you’d like to borrow, and your monthly income.
During the process and before settlement we will need confirmation of your identity, however, not in order to begin:
Additionally after we get started in the process, for loans greater than $150,000 you will also require fundamental financial statements:
Let’s get started.
In the wake of traditional lenders and banks increasing their credit requirements and the constant stream of non-bank and alternative loan providers that are entering the market offers the perfect source to make use of.
The Patch SME’s are now being able to get finance from alternative lenders that service The Patch who are focused on facilitating business growth or smoothing out cash flow challenges. In the past, when personal credit sources (drawing equity from a house loan, or by using credit cards, personal loans and loans) could be the best alternative funding services for The Patch that were around.
There’s an end to the requirement of having to rely on real estate to secure company credit. With an unsecured loan, business funding is made simple. Instead of a term loan with a bank, business finance for an SME with interest rates and loan terms that aid with cash flow is around as business credit options.
There are many benefits with the separation of personal and business debt.
Reduce your risk, and make tax times easier, get started with an unsecured busines loan. Apply today.
The main benefit of keeping your personal and business assets separate can be that your home isn’t necessarily tied up to allow access to the funds. For a small business loan in The Patch up to $100K asset security won’t be needed as long as the borrower is able to meet their loan obligations.
Companies are in a advantageous long-term situation if they can show good credit and debt capacity to pay.
The separation of personal as well as company finances makes it significantly more seamless with regards to tax time, particularly when determining what is the tax deductible allocation. The IRD has laid out requirements for evidence in order to deduct deductions from the tax return of a company. This is an area that the IRD have specifically advised on.
A well-organised cash flow management system is essential to the long-term success of any business. By keeping the personal financial and business finances distinct, businesses can easily view their cash flow, plan and monitor it based on the ability to clearly assess their cash flow position.
The Patch unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the funds could be in your account in 24 hours. Traditional business loans have an annual rate of interest as well as other fees and charges. This company loan is a loan that is priced upfront therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. This is then broken down into either weekly or daily repayment figure.
The Small Business Loan can be used for nearly every business purpose including control of cash flow company remodels and marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan in this amount, your company needs to have been trading for at least 3 years with an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Larger Business Loan can be used for nearly all company need, including business renovations, purchase of equipment or inventory, as general working capital and much more. The loan is not available for personal purposes.
Asset security is required to access funding over $150,000. It’s by way of charge on assets, and may include registration through the PPSR or filing a caveat.
A personal or director’s guarantee is a promise to repay credit that is generally based rather than stating the security for a particular asset. The person signing the ensure is personally liable 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 reflects security interests that are registered for personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a security interest has been registered.
Caveats are legal document lodged to provide the legal claim to property.
If you’re requesting a Larger Business Loan that is greater than $250,000 it’s possible to offer an initial pre-approval that will help make the process. We might be able to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes you answering some financial well-being checks. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an extensive credit evaluation and any offer you might receive could be based on different conditions.
You may be eligible for an company loan if you;
The application process is quick and simple. Just complete the online application in few minutes and a dedicated business loan specialist will contact you to assist you.
For a loan of up to $100,000, you’ll need identification details (valid Driver’s Licence), an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent twelve months of bank statements, IRD statement Last 2 years’ finalised financial statements, plus interim financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually provide a response in one hour, provided you apply at standard company hours and you allow us to utilise the bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements we can offer the decision in as little as the span of one company day.
For the Larger Business Loan ($100K and up) we may be likely to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Some agreements have been approved within just 24 hours.
The fastest way would be to make sure you apply during normal company hours. Also, let us use the advance bank verification to check your bank’s information online. If you decide to upload duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer within an hour – provided you submit your request at standard business timings and let us use the bank verification system to instantly verify your bank information online. If you want to upload copies of your banking statements, we are able to offer the decision within the span of one business day.
For the Larger Business Loans ($100K up to $500,000) we might be likely to offer you with a conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some agreements have been approved within the space of 24 hours.
The quickest method can be make sure you apply during standard business hours, and allow us to use the advance bank verification to verify your bank account information online. If you choose to upload the copies of bank accounts, it can take a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of factors to determine your well-being for your company and the extent of repayments that your company will be able to support. The amount you receive from the loan will be determined by the specific circumstances for your business.
When you make an application for a particular amount, we will consider a number of variables to assess how much we can lend you such as well-being of your business and the level of repayments that your company is able to afford. The amount you receive from your loan will be determined by the particulars that are unique to your business.
When you make an application for our business loan, we’ll assess the risk profile the business and provide you with a tailored offer including the amount of the loan, the duration and the interest rates. It is a business loan is an upfront priced loan therefore you will know the exact amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates differ based on various factors such as the amount that is borrowed, the company assets the money are used to purchase in addition to the industry that the business operates in, how long the business has been operating as well as whether the business has sufficient cash flow to pay for the loan, and general well-being or creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know exactly how much you’ll need to pay and when, right from the first day. There’s not any compounding interest and there are no additional charges (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan with without any upfront costs or the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You may choose to pay back the total amount of your loan at any point in time.
If you decide to pursue this option, please talk to one of our helpful company lending experts. They’ll offer you with details for repayment along with an early payout estimate. It will be calculated using the total of the principal remaining and the accrued interest up to the time of the early payout in addition to 1.5 percent of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow standard, we provide repayments either daily or weekly. They will be automatically deducted from your nominated company account.
Making sure that your information is secure, and knowing how we collect, use, exchange and ensure the security of your information is vital and is a crucial element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We use an advanced bank verification system that allows you to instantly verify your bank account information online to provide a fast response.
The term "asset-based" refers to borrowing where a business owner borrows from an asset that they own to get a loan. The asset can be an asset belonging to the personal, like the family home or it could be a company asset such as a truck as well as a piece of machine.
The majority of banks, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then the asset might be transferred to the lender. In essence it’s the process of securing new financing by using the worth of the asset you already have.
For loans that exceed $150,000, no asset security is required before you can access the money, however we require a personal guarantee. need the personal guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract document), asset security will never be needed. If you take out loans in excess of $150,000 typically, you will need a personal guarantee and security that is in the form the charge of assets.
Although we can’t help with an unsecure business loan in those industries, we might be able to assist by providing secured business loan.
