Loan Square Review for Potential Borrowers
Loan Square Review for Potential Borrowers
This Loan Square review will provide a full breakdown of the business finance solutions offered by Loan Square business loans. We look into the credibility of Loan Square by exploring who operates and runs Loan Square, when Loan Square was launched and the types of businesses most suited to receiving a Loan Square business loan. We’ll also provide details of what Loan Square requires from a potential borrower. Read the following Loan Square review to find out more.
Loan Square Review – Basic Figures for 2022
Website
Logo
Loan Amount
Variable
Loan Term
3 months to 5 years
Unsecured Loans?
Unsecured Loans are Available
Lender Requirements
- At least 18 years old
- A New Zealand resident
- Have a valid New Zealand ID
- Have a regular, stable income.
- A credit check will be required as part of the application process.
Response Time
Flexible funding solutions in 24 hours.
Easy to Apply
Yes, fully online
Minimal Interest Rates
RATES STARTING FROM 8.5%
Credibility & Company Story
A good businessperson knows the value of liquidity and use it judiciously to expand the operations of business. Majority of Kiwi businesses have historically relied on funding from traditional sources like banking for their needs but in the past couple of years (Basel III requirements) banks have shied away from business lending.
Our motivation to enter the non-bank lending space was driven by the above factor. We realised that small businesses need money to unlock their potential. A lot of these businesses were frustrated with red tape from the traditional sources of finance.
What Products Do Loan Square Offer?
BUSINESS LOANS
We at Loan Square understand the needs of small businesses as our directors have run businesses in New Zealand and abroad. They fully understand the challenges of running a SME business in New Zealand.
DEVELOPMENT FINANCE
Loan Square specialize in Development Finance and intends to provide Kiwi developers secure finance for their development projects.
BRIDGE FINANCE
One of the most used forms of financing when there is time mismatch between the cash flows in asset sale and purchases.
Loan Square Loan Compatibility
Flexible Term – Business can decide what maturity they want to borrow. We would customise the term to match the expected cashflows of the business.
Options for Fixed or Floating Term Loans – We are flexible to offer fixed or floating rate loans depending on the tenor of the loan.
Flexible Repayment Terms – We customize the repayment terms to match the expected cashflows for business. The business can plan repayment around their expected cash inflows and don’t have to do hard during lean periods
Secured or Unsecured – We can offer both secured financing (collateralised) and non-secured financing. Normally Secured Financing is for longer terms and carries lower interest than unsecured funding
Loan Square Review Summary
Name: Loan Square
Summary
Every Business requires money to run its operations, pay employees, suppliers, rent etc.
For most of Small and Medium Enterprises (SMEs) a good portion of the funds comes as equity from the directors/shareholders and rest comes from the borrowing.
Overall
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Credibility - 90%
90%
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Client Reviews - 85%
85%
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Website - 91%
91%
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Compatibility - 89%
89%
Pros
- Flexible Term
- Options for Fixed or Floating Term Loans
- Flexible Repayment Terms
- Secured or Unsecured
Cons