Business loans

To get a quote for a small business loan in New Zealand:

• You must be 18 years or older

• You must be a New Zealand citizen or Permanent Resident

• You must have full-time or permanent part-time employment.

• You need to have photo identification documents such as your valid New Zealand passport or valid New Zealand driver’s licence handy

• Your credit file must not have any active defaults, judgments or bankruptcies recorded

• You need to borrow at least $2,000 with your loan

To get a quote for a small business loan in Australia:

• You must be 18 years or older

• You must be an Australian citizen, Permanent Resident or New Zealand citizen

• You must have full-time or permanent part-time employment.

• You need to have photo identification documents such as your valid Australian passport or valid Australian driver’s licence hand

• Your credit file must not have any active defaults, judgments or bankruptcies recorded

• You need to borrow at least $2,000 with your loan

Business loans with Harmoney are treated just like personal loans. We’ll tell you what documents we need to see at each step of the online quote process.

Your business loan can be used to cover many expenses related to your business up to your loan limit, such as buying or upgrading equipment, stocking up on inventory, paying for services and registration fees, or just to help with short-term cashflow. However, a business loan can’t be used for general day-to-day business expenses. Let us know your plans when you are getting a quote.

Harmoney business loans are taken out as personal loans in your name, so your credit rating will be influenced by your borrowing activity. Simply getting a quote from us for a business loan won’t affect your credit score. Only once you’ve approved the quote and apply will an application show on your credit file.

Even a business loan taken out under your business name may affect your personal credit if you’ve guaranteed the account.

Harmoney small business loans are a type of personal loan, designed to help people who may only be starting out in business or dealing with cashflow problems. This means we don’t need to see business tax returns, evidence of turnover or how long your business has been operating unless you’re self-employed.

If you are self-employed we will require both your personal and business accounts from the last 3 months. We also need a personal tax return and profit and loss statement from the last financial year.

In Australia you also need to provide a Notice of Assessment.

If you already have a business loan with us and you want to borrow more, it may be possible to arrange a loan top up if you’ve maintained a good credit and met your scheduled repayments for 6 months or longer.

Top Up is a feature offered to certain borrowers who, having demonstrated an excellent track record of on-time repayments, may be eligible for additional funds.

As a responsible lender, we need all Top Up applicants to go through the online process again.

To learn more about Harmoney Top Up in New Zealand, please refer to this link.

To learn more about Harmoney Top Up in Australia, please refer to this link.

If you need to finance a vehicle purchase, a car loan with Harmoney should be arranged separately.