Unsecured Business Loans

unsecured business loans nz

Unsecured Business loans in NZ

Looking for a business loan in New Zealand ? Don't have any security to put against the business loan. Unsecured business loan could be your answer. Loan nz has sourced out information, advice and tips that will help you to get an unsecured business loan in New Zealand. We will save you time and money so check out the free independent information on how and where to get business loans with no security.

Unsecured business loans in new Zealand

An unsecured business loan is basically a loan that is not backed by collateral and generally based solely upon the borrower’s credit rating. sometimes an unsecured business loan also factors in things like the borrowers income depending upon the loan providers you choose to apply with. Unsecured business loans are usually has a higher interest rate since no security is set against the loan

There are many requirements to get an unsecured business loan in new Zealand :

(a ) the person applying the loan must be of 18 years and over of age person

(b) the borrower must have a valid identification card

(c) also the borrower must provide a proof of their income

(d) a 60 days bank statement

(e)  residential property

Unsecured business loans can  help the borrower in many ways. Firstly it can help in retention of ownership hence an enterprenuer can retain the current ownership of his business instead of raising funds by selling interest of his company to an outsider. It also gives better cash flow management.  Thirdly it gives access to capital with minimum upfront payment and flexibility to design a loan schedule of your economy. Furthermore tax benefit rate on loan is deductable thus helping  to save hard earned money of the borrower .

Unsecured Business Loan providers in New Zealand 

Avanti Finance

Avanti finance provides unsecured business loans and does not requires specific security when granting unsecured business loans however  “all present and acquired personal property l” clause is used to secure the loan. It grants a minimum loan of three hundred and a maximum of five hundred dollars.

To qualify for higher  lends the borrower needs to have a residential property that meets equity criteria as security and meet all other normal lending criteria. Interest rate is set  taking into account the loan structure, the security and customer credit profile. Interest rates range from 12.95% to 28.95% depending on amount of loan taken. Loan taken must be paid in three to sixty months time is given. Thus to obtain an unsecured business loan in Avanti finance you must have a sixty days bank statement and a proof of   borrowers income.

For more information you can check out their website www.avantifinance.co.nz

Credit Express

Credit express provides unsecured business loans. To obtain a unsecured business loan from credit express the borrower must have a car, boat, or a property that will be used as security against the loan. The minimum loan lend is three thousand dollars.

The interest rate on loan is 16%and rates offered depend on strength of applications and lenders credit criteria the borrower can either choose to pay fix rate o floating rate of amount borrowed. In fixed rate business rate applied on outstanding amount and  principal remains constant for a agreed period of loan term. Variable rate means fluctuation to common rate. Hence the loan  must be paid in sixty months.

For more information you can check out their website : www.creditexpress.co.nz

Finance Now

Finance now provides unsecured  business loan  and the minimum unsecured business loan lend is one thousand dollars and the maximum loan lend is twenty thousand dollars.  The borrower must have a residential property that can be set as security against the loan. Also there is no requirement for the borrower to provide collateral for unsecured  business loan the amount you borrow is less and the interest rate is high. Furthermore the interest rates starts at 13.95%  and ranges on the amount that is borrowed hence the more  the loan the higher the interest rate. lastly the amount borrowed must be paid in sixty months from the date the loan is lend to the borrower.

For more information you can check out their website : www.financenow.co.nz