The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Do you need more money? Check out the conditions of eligibility for our $100K to $500K company loan.
All that is needed to start is your contact information (the name of your company and your name, as well as email and telephone), how much you want to borrow, and your monthly earnings.
Through the process and before settlement we will require confirmation of who you are but not before we can begin:
Additionally after we get started in the process, for loans of more than $150,000 you’ll require basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and funds may be available in just 24 hours. Traditional business loans reference an annual interest rate along with other charges and fees. We offer a company loan is a loan that is priced upfront so you will be aware in advance of the total amount payable including the interest, fees and charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for virtually any company use, including managing cash flows, company renovations, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans range from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large the company needs to have been in operation for at least 3 years, and have an annual income of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A larger business loan can be used to fund almost every company use, including business remodeling, buying new equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. This is by taking a charge over assets and can include registration in the PPSR or making a caveat.
A personal or director’s ensure is a guarantee to pay back a loan that is general in nature rather than stating the security of a specific asset. The person signing the ensure is personally liable in the event that the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be granted according to the date a security interest was registered.
The caveat can be described as a formal document that is filed to offer the public notice of a legal claim to property.
When you’re applying for larger business loans of more than $250,000 it’s possible to offer an initial pre-approval that will help simplify the process. It is possible to do this without a credit check and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial health checks. It is neither an offer nor a guarantee of financing. Unconditional approval is subject to an extensive credit evaluation and any offer you might receive could be on different conditions.
You may be eligible for an company loan if you
The application process is fast and simple. Just fill out the online application within a couple minutes, and an experienced business loan specialist will be in touch to guide you.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License) and a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details for application including credit consent twelve months of bank statements, IRD statement Last 2 years’ finalised financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer in just one hour – as long as you make your application at standard company timings and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statement, we’ll provide an answer within just one company day.
For the Larger Business Loan ($100K or more) we could be in a position to provide the conditional pre-approval within about six hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Certain offers have been approved in 24 hours.
The quickest method is to make sure you apply during normal company hours, and allow us to use our advanced bank verification system link to confirm your bank details online. If you upload duplicates of your banking statements , it will take a little longer.
For the Small Business Loan ($5K or more) we usually offer an answer within an hour – provided you submit your request within standard business time and allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statements we can offer an answer within 1 business day.
If you are applying for Larger Business Loans ($100K or more) we could be capable of offer you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain deals have been approved within just 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours, and permit us to use the modern bank verification link to confirm your bank details online. If you decide to upload documents from your account statement, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of elements that determine your well-being that is your business and the level of payments your company will be able to support. The amount you receive from the loan will be determined by the specifics of your company.
If you apply for a particular amount, we will consider a number of elements to determine how much we can lend you such as well-being for your company and the extent of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the particulars that are unique to your business.
When you make an application for one of our business financing, we will assess the risk assessment that you have for your company and offer you with a customised proposal that includes the loan amount, the terms and interest rates. The company loan is an upfront cost loan which means you know the exact amount payable including any charges or interest.
Business loan interest rates depend on a variety of factors such as the amount that is that is borrowed, what business assets the funds will be used for and the sector the business operates in, the long the business is in operation and in the event that the business has enough cash flow to fund the loan, and the overall health and creditworthiness of the company.
There are no hidden fees for our company loans. You’ll know precisely what you need to pay and when, from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You can make an application for loans with with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay the total amount of your loan in full at any time.
If you choose to take this route, please talk to one of our helpful business loan professionals. They’ll provide you with the details of your repayment along with an early payout estimate. This is calculated as the sum of the principal balance plus any accrued interest as of the time of early payment, plus 1.5% of the principal remaining as well as any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow standard, we provide payments that are either daily or weekly. These are automatically withdrawn from your company account.
Making sure that your information is secure, and knowing the ways we gather information, use it, and exchange it, as well as protect your information, is of paramount importance and a vital aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our customers and privacy. We make use of an advanced bank verification system link to instantly verify your bank account information online to provide rapid response.
Asset-based borrowing is when a company owner uses the assets they have to make the loan. The asset can be an individual asset, such as the family home, or a company asset such as a truck or piece or equipment.
The vast majority of banks, including the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan, your assets could be taken over by the lender. In essence it’s means of securing additional financing taking advantage of the value of what you already have.
For loans of up to $150,000, no asset security is required before you are able to access the money however, we do require a personal guarantee. As long as you follow your loan commitments (as stated in your loan contract document), asset security is not needed. If you take out loans in excess of $150,000 generally, you can get a personal ensure and security in the form of charges on assets.
