QuickCash Finance

QuickCash business-loan eligibility and documents

QuickCash says it needs to examine your business accounts before tailoring finance. Approval depends on its credit and affordability assessment; the checked business material does not establish a minimum turnover, trading history or credit score.

Its general application process asks for identification, access to online banking and 90 days of bank transactions. Prepare your business accounts, existing debt commitments and details of any proposed security, then confirm the document requirements for your business structure. Company borrowers should also establish which directors or owners must provide personal information.

QuickCash’s privacy policy explains that applicant information is shared with credit agencies for identity and creditworthiness checks. Supplying accounts or owning an asset does not establish eligibility by itself.

Who should consider this business finance?

Our assessment is that this type of borrowing is most useful for a defined expense with an identifiable repayment source. For an inventory purchase, check when sales are likely to become cleared cash: repayments can fall due before customers pay.

Reconsider borrowing if the business needs repeated loans to cover continuing losses, or if losing the proposed security would stop it trading. Compare other business finance options, including a bank overdraft for recurring cash-flow fluctuations or asset finance for a specific equipment purchase.

How to apply for a QuickCash business loan

Application and assessment

Contact QuickCash on 0800 784 252, email info@qcf.co.nz, or use its online application. State the business purpose and whether the borrower will be you personally or a company. QuickCash’s office is at 56 Scott Street, Blenheim.

Submit the requested financial information, then review the proposed agreement before accepting. Establish who owes the debt, which assets secure it, and whether anyone must provide a personal guarantee. Ask whether electronic signing is available for your particular arrangement.

Approval and funding times

The business page advertises approval within 25 minutes and suggests overnight funding when the necessary information is available. Treat these as advertised possibilities, subject to assessment and completion of the agreement. Obtain a specific funding estimate before committing to a supplier payment.

Questions to ask before signing

• What is my fixed annual rate, and which published rate disclosure applies?
• How much cash will I receive after charges, and what is the total amount repayable?
• What are the repayment dates, regular payment amount and any final lump sum?
• Which business or personal assets are secured, and is a personal guarantee required?
• What insurance, legal, cancellation and security-release costs apply?
• What would settlement cost if I repaid after three or six months?

QuickCash business-loan advantages and limitations

Advantages

QuickCash advertises fixed interest and no early-repayment fee. These features can help with budgeting and allow a business to reduce debt when cash receipts improve. The lender also discusses funding needs directly with applicants.

Limitations

Business-specific limits and terms are unclear, and official rate tables disagree. Weekly administration charges increase the cost of keeping a balance outstanding. Where security or a personal guarantee is required, the consequences of default can extend beyond the financed purchase.

QuickCash business-loan interest, fees and total cost

Published interest rates need clarification

QuickCash’s homepage and disclosure page state annual interest rates of 12.5%–29.99%, depending on credit profile and security. Its responsible-lending table includes 30% for some security categories. The checked pages do not resolve this discrepancy through clear pricing effective dates.

These are general annual interest disclosures, not a verified business-loan quotation or fee-inclusive APR. Ask for the rate, calculation method, fees and total repayments together.

General published charges

The fee schedule dated 21 February 2024 lists the following charges. Confirm their applicability to your commercial agreement.

• Establishment: $175 for advances of $200–$500; $250 for $501–$1,000; $350 for $1,001–$5,000. The listed bands do not establish the charge above $5,000. Establishment fees are added to the loan.
• Administration: $5.34 weekly while the loan remains active.
• Property security: Caveat registration and withdrawal are each listed at $212.50 or the solicitor’s invoiced charge. Mortgage solicitor-instruction fees are $60, with additional solicitor costs.
• Other conditional charges: $175 cancellation, $50 for changing security and $20 for processing an overpayment refund.

QuickCash’s general default disclosures list 8% annual default interest on overdue amounts and $1.55 per day in default fees, charged weekly. Additional correspondence, enforcement and third-party recovery charges may apply. Confirm how default interest interacts with ordinary interest.

The advertised absence of an early-repayment fee does not establish that releasing property security is free. Request an itemised settlement figure.

Insurance and security costs

The example consumer contract requires insurance over collateral and mortgaged buildings or improvements. It does not verify your commercial insurance requirements. Obtain the proposed business agreement and any required policy, including premiums, excesses, exclusions and cover for business use.

The example describes fixed interest in its disclosure section but also contains a general variation clause. Ask QuickCash to explain which provisions govern the rate and fees in your actual agreement.

Fee-only illustration

If a $5,000 business advance attracted the published $350 establishment fee and remained active for 52 weeks, administration charges would total $277.68 ($5.34 × 52). Those two fees alone would total $627.68 before interest or other costs.

This is an original illustration, not a QuickCash commercial offer. It assumes those general fees apply and excludes interest on any financed charges, insurance, security costs and default charges. An accurate repayment calculation requires the agreed rate, term and payment schedule.

Our assessment of QuickCash business loans

QuickCash merits consideration where a business has a defined funding need and a credible repayment plan. Its strongest advertised feature is early repayment without a penalty fee. Its main limitation is the lack of consistent, complete business-specific pricing. Compare written offers using the same cash advance and repayment period, including fees, insurance, settlement costs and assets at risk.

QuickCash Finance business-loan FAQs

Does QuickCash’s $20,000 online limit apply to business loans?

QuickCash’s general application advertises secured borrowing of $501–$20,000, but its business page describes individually arranged finance without confirming a commercial maximum. Ask whether your request falls within the online product or requires a separate business quotation. Also distinguish the cash paid to your business from the opening loan balance: financed establishment fees can increase what you owe without increasing the funds available to spend.

How should I compare QuickCash’s repayment term with another lender’s?

A business-specific repayment range was not verified. Request comparable quotations over the same repayment period, including any final lump sum. QuickCash’s general disclosures list a $5.34 weekly administration fee while the loan is active, so extending the term can add both interest and further weekly charges. For seasonal businesses, establish whether the payment schedule can accommodate quieter months before comparing the regular instalment.

Could my business qualify for QuickCash’s lowest advertised interest rate?

The 12.5% rate in QuickCash’s published security table relates to a residential first mortgage with a registered valuation and a loan-to-value ratio of up to 20%. It is not a general starting rate for every business applicant. Other official rate disclosures conflict, as explained in the interest-rate section. Compare offers with equivalent security requirements: a lower rate involving your home carries a different risk from finance secured only against equipment.

Does QuickCash accept startups or businesses with limited accounts?

The business page says QuickCash needs to review accounts, but it does not establish startup eligibility or minimum turnover and trading-history requirements. Ask whether it will consider management accounts, bank transactions or forecasts when completed annual accounts are unavailable. When comparing providers, an unpublished threshold should be treated as an eligibility question to resolve, rather than evidence that a new or low-revenue business qualifies.

Will QuickCash assess my personal credit history as well as the business?

QuickCash’s general guidance says adverse credit may be considered alongside affordability, security and the requested amount. It does not fully explain how those checks apply to company borrowers or their directors. Before submitting a full application, ask whose credit records will be searched, whether requesting a quotation creates a credit enquiry, and how existing defaults affect assessment. A willingness to consider bad credit does not establish the rate or security terms you would receive.

Can I borrow without putting personal assets behind the business loan?

Unsecured commercial lending was not verified. QuickCash’s small unsecured option on its general application does not establish an equivalent business product. Request a written description of the proposed security and any personal guarantee, including its scope and release conditions. The useful comparison is which assets and people are exposed, rather than the secured or unsecured label alone. Confirm whether the lender requires security over a named asset or broader business property.

Is QuickCash worth considering if I expect to repay the loan early?

Its business page advertises no early-repayment fee, which may be useful when repayment depends on an expected customer payment or seasonal sales. However, upfront charges can still make a short borrowing period expensive, and property-security release costs may apply. Ask QuickCash and competing lenders for settlement figures on the same expected date, including establishment charges, interest, administration fees and discharge costs. Also establish how partial extra payments affect the remaining schedule.

What could a delayed customer payment cost if I miss an instalment?

QuickCash’s general disclosures list $1.55 per day in default fees and 8% annual default interest on overdue amounts, with additional collection-related charges potentially applicable. Confirm the commercial agreement’s charges and how default interest interacts with ordinary interest. Contact QuickCash on 0800 784 252 before a payment is missed where possible. If offered a revised arrangement, request its fees and total remaining repayments; a lower instalment may extend the debt.

Can a business borrower take a QuickCash complaint to FSCL?

QuickCash identifies Financial Services Complaints Limited as its dispute-resolution scheme, member 804. First send your complaint to info@qcf.co.nz, retaining the quotation, agreement and relevant correspondence. If unresolved, contact FSCL on 0800 347 257 to establish whether your business and complaint fall within its scope. Scheme membership alone does not establish eligibility for every commercial dispute.