Great news – we are not a high street bank. How does this help we hear you ask? Well rules and red tape have unfortunately strangled the main top tier one lenders in NZ and most of the world and for the customer this means what we would say is prolonged waiting for just an approval. With UP Capital you can expect a response as quick as one hour and unless the lender requires more information from you it should always be the same business day.
One of our strengths over Banks and other providers is the ‘speed to market’ when it comes to delivering much needed capital to our clients. This means an application can be received and also PAID OUT the same day. Cleared funds into you chosen account.
Working capital are agreed for 12 months with asset backed finance upto 5 years term. With a working capital business loan you can effectively refresh after 3-6 months and recommence from the start meaning you can continue to draw down more funds.
Yes, yes and yes. Credit issues do not effect Business loans as much as people think and providing the business is trading and meets the required criteria for approval – credit items are much less of a concern. IRD debts can also be added onto you loan to remove any additional risks to your business on the horizon.
Our online application form kicks things off and should only take you a few minutes. Every application usually needs valid ID and 6 months bank statements to support. If you have accounts lying around we would suggest sending them over also. Our team will advise you directly as each case is different but don’t expect 101 items to be needed.
That is really up-to you. As a working capital loan you are not securing against anything and typically it would be used for stock purchase, expansion, marketing campaigns you name it!
No. This is an unsecured business loan and so you will not be asked to provide security. Personal guarantees are likely to be sufficient and if you are actually purchasing a vehicle or asset then this would be used but on the whole the loan is unsecured.
This will depend on many factors including but not exclusively credit profile but also the risk factor of your particular industry, length of time trading and current revenue generation.