Even if you know how the general process works, you might still feel a little bit overwhelmed. This is completely normal as there are thousands of results that pop up on the web when you search for a business start-up loan or perhaps a small business cash flow loan. However, preparing your business loan application might be easier if you have all your documents ready to go before you apply.

What documents you need when applying for a business loan will depend on the type of loan and the lender you go with. You may be asked to provide:

• Minimum trading history
• Tax returns
• Bank account statements
• Proof of individual income
• Identification
• Documents detailing security (if relevant)

In some instances, you may also be asked to provide cash flow projections, management financials, your business plan, contract of sale and even lease agreements.

Your lender will use all the information you provide about your business and any directors, partners or guarantors to understand your business’ financial situation and ensure you’re eligible for the loan you’re applying for.

When it comes to the documents required for business loans, at Prospa, we’ve made the application process simple with fast decision making. You’ll need valid identification that shows you’re above 18 years old, a resident of New Zealand, and minimum trading history applies. On top of this, you’ll also need financial statements that show you can come up with a $6K monthly turnover.

Aside from requiring just a few documents for our business loan offers, Prospa provides more advantages. For instance, you’ll get a fast and easy business loan application with a guaranteed response within 24 hours. You’d also be pleased to know that we have an expert team that’s ready to assist you if you have any general business lending inquiries. Lastly, you can sit back and relax with our lending service as we’ve supported plenty of Kiwi businesses similar to yours.

Prospa is one of New Zealand’s most trusted online lenders with over a decade’s worth of experience under our belt. You can rely on us to get you the cash you need to get your enterprise up and running or even help you through a short-term rough patch. We’ll be sure to give you more than just business finance as we’ll provide you with a service you can come back to time and time again.

For more details about our benefits and procedures, visit our small business loan to learn more.

Everything has been made simple, straightforward, and transparent at Prospa. With us, you’ll know exactly what to expect when you start your application and send us the documents required for business loan deals.

• Loan amount. Upon approval for our small business loans, you’ll receive funds that range from $5,000 to $150,000.
• Fixed repayment terms. We are promotors of responsible lending, and as such, we have fixed terms with weekly repayments. For our small business loans, the maximum duration is 36 months.

Apply now and see what we can do for your business!

As an enterprising individual, it wouldn’t come as a surprise that you have some money saved up in your bank account. When building your own business, dipping into your personal savings could be quite tempting. While some have had success doing this, Craig Gardiner (CEO of Small Business Accounting) recommends that you first evaluate the risks, take into account other options, and keep work and personal life separate.

Applying for a small business loan at Prospa can lead you down the right path and help you strike the balance you need. So gather up the documents required for business loan offers and get started today!

No more compromising or missed opportunities with Prospa by your side.
This time tomorrow you could have access to funds for growth and cash flow support.
It’s just what we do. We’re New Zealand’s small business lending specialist