The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Do you need more money? Find out the guidelines for eligibility for our $100K to $500K business financing.
All that’s required to start is your contact details (the name of your company, your name, email and phone), how much you’d like to borrow as well as your monthly income.
During the process and before settlement we will require confirmation of your identity, but not before we can begin:
After we start, for loans of more than $150,000 you will also require the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes via the internet or by phone. You will receive an immediate response, and funds may be on your account within 24 hours. Traditional company loans refer to an annual rate of interest plus other fees and charges. This company loan is a pre-paid loan which means you know in advance the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly amount to be paid back.
A Small Business Loan can be used for almost every company purpose including cash flow management, company improvements, advertising for purchasing inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
A Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
To be eligible for a loan in this amount, your company needs to be trading for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger company loan can be used for nearly every business need, including company improvements, purchasing new equipment or inventory or as general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. This is by way of charge on assets, and could include registration through the PPSR or making as a caveat.
A personal or director’s guarantee is a commitment to repay a loan which is general in nature rather than specifying security over a particular asset. The person signing the guarantee is personally accountable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR allows preference over private property granted according to the date the security interest was registered.
The caveat can be described as a formal document lodged to offer notice of a legal claim to a property.
If you’re seeking an enterprise loan that is greater than $250,000 we may be able to provide an initial pre-approval that will help ease the process. It is possible to apply for this without a credit check and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves you answering some financial well-being questions. This is not an offer of credit or guarantee of funds. A conditional approval is subject a full credit assessment and any offer that you receive could be on different conditions.
You may be eligible for an business loan if you
The application process is simple and simple. Just complete the online application within a couple minutes, and a dedicated company credit specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll require identification details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we usually offer an answer within one hour, provided you submit your request at standard business time and allow us to utilise the bank verification system link to immediately verify your bank account information online. If you want to submit copies of your bank statements , we are able to offer an answer within one business day.
For Larger Business Loans ($100K or more) we may be in a position to provide you with conditional pre-approval within six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Some agreements have been approved within 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours. Also, allow us to use the modern bank verification link to verify your bank account information online. If you decide to upload copies of your bank statements , it will take a little longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour – provided you apply during normal business times and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your banking statements, we are able to offer a decision in just one business day.
For the Larger Business Loans ($100K up to $500,000) we could be likely to offer you with pre-approval conditional to your application in around six hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval. However, this may be quicker depending on the specifics of each application. Certain deals have been approved in 24 hours.
The most effective method would be to make sure you apply during normal business hours. You can also allow us to use our advanced bank verification system to instantly verify your bank information online. If you opt to send us the copies of bank statements it takes a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a particular amount, we consider a variety of variables for determining your well-being for your company and the level of the repayments your company will be able to support. The amount you receive from your loan will depend on the specifics of your business.
When you apply for a particular amount, we take into consideration a variety of aspects to assess how much we can lend you such as well-being of the business as well as the amount of payments your business can support. The amount you receive from the loan will be determined by the particular circumstances the business.
When you request one of our company financing, we’ll assess the risk profile for your company and offer you with a tailored offer, including the loan amount, the terms and interest rates. This company loan is an upfront cost loan therefore you will know the exact amount to be paid, including any charges, interest rates or fees.
The interest rates on company loans rates vary due to factors like the amount of money borrowed, the company assets the funds are used to purchase in addition to the industry that the company is operating in, how long the company is in operation, in the event that the company has enough cash flow to pay for the loan, and also the general health or financial standing of the business.
There are no hidden costs with our business loans, and you’ll be aware of the amount you’ll need to pay and when, starting from the very first day. There’s no compounding interest, and no additional fees (as as you make your payments on time).
We do not charge an application fee. You are able to get a cash loan with with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You may choose to pay back all of your advance loan at any time.
If you choose to pursue this option, please call our helpful business credit experts. They will offer you with repayment details as well as an early payout amount. The figure will be calculated as the total of the principal balance and any accrued interest at the date of early payout plus 1.5 percent of the remaining principal and any outstanding fees.
To ensure that you don’t miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. These are automatically deducted from your business account.
Protecting your information, and being clear about how we collect data, process, exchange and safeguard your data, is crucial and an integral part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We make use of an advanced banking verification system to immediately confirm your bank account information online to provide rapid response.
An asset-based loan is when the business owner borrows from an asset they own to get the loan. The asset may be a personal asset like the family home, or an business asset like a truck or other piece of machinery.
The vast majority of lending institutions, not just the largest banks, are inclined to guarantee loans against an asset. If you are having difficulty paying back the loan, your asset may be taken over by the lender. In essence, it is the process of securing new financing taking advantage of the value of what you already have.
Up to $150K in loans there is no requirement for asset security before you can access the money, however we require a personal guarantee. require the personal guarantee. As long as you follow your loan commitments (as stated in your loan contract document) Asset security will never be needed. If you take out loans in excess of $150,000 typically, you will need personal guarantee and security is provided in the form of a charge over assets.
