Zip Business, formerly Spotcap NZ, is driven by the needs of their customers, listening to them to deliver on-point solutions. They innovate ways of how to better measure satisfaction as everything they do are aspirations for excellence. Zip Business utilizes new technology and the latest digital developments to make financial services accessible to Kiwis across the country.
Zip Business loans are versatile enough to replace other financing solutions such as peer-to-peer lending, equipment financing, bridging loans, working capital finance, and many more. Compared to traditional lenders, Zip Business prioritizes small businesses; thus their loan is crafted according to the common needs of Small and Medium-Sized Enterprises (SME).
Head over to glimp’s business loan calculator and compare Zip Business or Spotcap interest rates against other offers — find out which best suits your business needs.
Zip Business will give you access to cash that you can borrow in amounts that you only need through a flexible line of credit. No matter the size of your business, you can get access to a wide range of offers and a credit limit based on your business circumstances. You can also get a quick loan decision within 24 hours after you’ve submitted your loan application. The decision-making process is done using a unique credit algorithm with the help of their expert assessment team.
You can borrow any amount from $10,000 to $500,000 with Zip Business’ unsecured loans up to 36 months. This means no worrying about having to register an asset as security. Although Zip Business loans accommodate big and small businesses, they are more grounded on SME.
You can qualify for a loan from Zip Business if you meet the general criteria:
Zip Business loans have a fixed rate that can range from 0.5% to 3% per month, based on your risk profile. You only pay for the interest on what you borrow and for the duration of the loan. When you’re not borrowing, you won’t be charged any interest. Aside from interest, they’ll charge an origination fee of 2-3% of the total value of your credit line. They won’t charge you on the following:
Zip Business uses technology to determine the credit worthiness of a business. Instead of relying on historical information, they use a credit algorithm to learn about the financial situation of a business. This makes credit decisions faster and less tainted by human error.
Spotcap NZ has changed their name to Zip Business; nevertheless, they applied the same Spotcap interest rates, pricing, processes, and principles.
The maximum amount is $250k. It’s your choice how much you’ll borrow with that maximum amount, and draw it down in full when you need to.
When you draw down some or all of the amount in your line of credit, it becomes a business loan that you can use for equipment financing, growing your sales, protecting the cash flow, and hiring a new staff member.
4.6
Filomena had amazing customer service! She was very polite and respectful. She also was great at listening to my needs and offering solutions with options that had great savings. I would give her 10 stars if that was an option. If I decide to go ahead I would choose to go have her help me again. I have not had the best experience in the past with customer service reps so I would like to thank her for making this experience a good one. Kind Regards, Selena
Very clear and concise information. Great price comparison for saving money on our monthly bills! Thanks Issac and Glimp! I can't wait to pass these savings on to my hard working family Adding onto my review as I think this is totally unacceptable to have people call you about switching companies and you agree to change and go through the process with Glimp and then get phone calls from supposed companies BEFORE you even get the email offer from supposed companies.
The customer service was very good. Very pleasant and friendly approach. Thanks again for your help. Saving of 280$ for the same quality and performance. Will use this agency to get another deal after 12 months.
My discussion with Tyron Kumar went very well. He was very patient and polite with my lack of knowledge of GBs etc. On the basis of our conversation I felt confident enough to change to 2 degrees immediately. I didn't give five stars because the sound was poor. It seemed as if there was a constant noise in the background and Tyron's voice had a slight echo as well.