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Increase your understanding of business loans so you can manage your business better.

What is a personal guarantee on an unsecured business loan?
If you’re trying to raise finance for your business through an unsecured business loan, your lender may ask you to sign a personal guarantee. But what does a ‘personal guarantee’ mean, why are they so common and, if you do sign, how does it affect you? What is a personal guarantee? Signing a personal [...]
What’s the process for getting a business vehicle loan?
Commercial vehicle loans are a popular choice for business owners who want to grow their business. But if you’re new to the process, you may wonder exactly what the process looks like. Here’s a step-by-step guide. 1. Determining your needs The choice of business vehicle varies wildly depending on your business needs. A cleaning [...]
What are the different kinds of personal guarantee on a business loan?
Personal guarantees are the key to securing business loans, especially if you want a good deal. But there are several different kinds of personal guarantees that a lender may ask for. Here’s the breakdown of what they mean and how they could affect you. Unlimited An unlimited personal guarantee means any and all assets [...]
Need a boost over Christmas? A working capital loan could be the right move
The Christmas break is different for every business. For some, it’s their busiest time of year, for others it’s time to wind down: get those last orders in, sort out those last gifts for clients, and, of course, chase up those last remaining invoices. Then, it’s time for some well-deserved time off. [...]
How to sell financed business equipment
So, you bought a vehicle or a piece of equipment with asset finance, but you’ve decided you need to sell it. You might need to free up some cash, you might need to make a big purchase, the vehicle or equipment might not be needed anymore, or it’s in need of an upgrade. [...]
How to get a start-up business loan with bad credit
You’ve got an idea. A great idea. It’s going to be the next big thing. But as you try to start up your start-up, you hit a snag: you need seed capital, and the banks won’t give it to you. Something about having ‘bad credit’. Don’t despair: this is a common [...]
Can you get an unsecured business loan while you’re self-employed?
As a self-employed person, you might need a business loan for a number of reasons. You might want to hire extra staff for a big project, get a new vehicle or piece of equipment to expand your services, or even just cover a gap in cash flow during a slow season. But there’s a [...]
How does your personal credit score affect an unsecured business loan?
Whether you’re starting a business, purchasing new equipment or covering gaps in cash flow, you may need a capital injection through an unsecured business loan. But when you aren’t putting up security, a lender will look at your personal credit score as well as your business financials – and a poor credit score could [...]
What you need to know about the different types of business loan security
Getting a business loan usually means providing security. There are many options for doing so available to the business borrower, each with its own pros, cons, and impacts on both your business and your financing. General Security Agreements General Security Agreements (GSAs) are broad-reaching agreements that cover all assets in a business. They are commonly [...]
Can I use property as security for my business loan?
Yes, real estate can be used as security for a business loan, whether you’re using the cash to start a company, buy new equipment, expand your fleet, hire new staff, or just keep the cash flow going. Residential, commercial or rural property can be a powerful form of security for your business loan. But [...]


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Sorted – Sorted is a website offering plenty of free and user-friendly online budgeting tools and advice. Visit www.sorted.org.nz

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