The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Take a look at the conditions of eligibility for our $100K-$500K business loans.
All that’s needed to get started is your contact information (company name and your name, as well as email and telephone) along with the amount you’d like to borrow, and your monthly revenue.
Through the process and before settlement we will require confirmation of your identity but not for starting:
After we start with loans of more than $150,000 you’ll need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
You can apply to this Small Business Loan in under 10 minutes on the internet or over the phone, receive an instant response and funds may be on your account within 24 hours. Traditional business loans refer to an interest rate per annum along with other charges and fees. The business loan is a pre-paid loan therefore you’ll know in advance the amount you will have to pay, including any fees, charges or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for almost any business purpose including managing cash flows, business remodeling, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
This Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To qualify for a loan in this amount the business needs to be operating for at least three years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A larger company loan can be used for almost every company purpose including business improvements, purchasing equipment or inventory for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required for accessing funds over $150,000. This is by way of charge against assets, and may include the registration of this on the PPSR or making as a caveat.
A director’s or personal ensure is a promise to repay credit that is general in nature rather than specifying the security for a particular asset. The person signing the ensure is personally liable in the event that the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR gives preference over private property granted according to the date the security interest was registered.
The caveat can be described as a formal document that is filed to provide notice of a legal claim against a property.
If you’re requesting a Larger Business Loan that exceeds $250,000 we can offer a preliminary pre-approval to help smooth out the process. We may be able to get this done without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial well-being questions. It is not an offer or guarantee of funds. Acceptance without condition is subject to an extensive credit evaluation and any offer you might receive could be based on different terms.
You may be eligible for a business loan if you
The application process is fast and easy. Simply complete the online form within a few minutes and a dedicated company lending specialist will be in touch to guide you through the process.
To apply for up $100,000, you’ll require identification details (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details for application including credit consent, 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K or more) We can usually offer an answer within an hour – as long as you submit your request within quality business times and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements we can offer a decision within just one company day.
For the Larger Business Loan ($100K up to $500,000) we may be able to provide you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, it could be faster based on the circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The quickest way to apply can be ensure you apply during normal company hours and let us use the advanced bank verification system to confirm your bank details online. If you choose to send us the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour, provided you make your application during normal business timings and let us use the advanced bank verification system to instantly verify your bank details online. If you want to submit copies of your bank statements, we are able to offer the decision within an business day.
For the Larger Business Loans ($100K to $500K) we may be able to provide you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the particular circumstances of each application. Some transactions have received approval in just 24 hours.
The fastest way would be to ensure you apply during standard business hours and permit us to use the advanced bank verification system to instantly verify your bank information online. If you upload duplicates of your banking statements, it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of elements that determine your health that is your company and the level of repayments that your company can afford. The total amount of your loan will depend on the particular circumstances of your company.
When you submit an application for a set amount, we take into consideration a variety of aspects to determine the well-being for your company and the level of repayments your business will be able to support. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
If you decide to request one of our business loan, we will assess the risk assessment the business and offer you with a tailored offer that includes the amount of loan, the term and the interest rates. The company loan is an upfront-priced loan which means you be aware of the total amount payable including any interest rates, fees or charges.
Interest rates for business loans rates depend on a variety of factors such as the amount that is borrowed, what business assets the money will be used for in addition to the industry that the business is in, how long the company is in operation as well as what percentage of the company has sufficient cash flow to support the loan, as well as the general health or financial standing of the company.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you’ll be required to pay, and when, from the first day. There’s no compounding and no additional fees (as as you make your payments on time).
We do not charge an application fee. You can apply for a loan without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You may choose to pay back the entire amount of the loan at any point in time.
If you choose to take this route, please contact our helpful company lending specialists. They will offer you with details for repayment and an early payout figure. It will be calculated using the sum of the remaining principal amount and accrued interest to the time of early payment, plus 1.5% of the principal amount remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your nominated company account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to security for our clients and security. We make use of an advanced banking verification system to immediately verify your bank account information online to provide rapid response.
Asset-based borrowing occurs when the business owner uses assets they own to get the loan. The asset may be an individual asset, such as the family home, or an company asset like a truck as well as a piece of machine.
The vast majority of the lenders including the major banks, prefer to secure loans against assets. If you have trouble paying back the loan then the asset might be offered for sale by the lender. In essence it is the process of securing new financing using the value of what you already own.
For loans that exceed $150K, it is not necessary to secure assets upfront to access the money but we do need an individual guarantee. In the event that you fulfill your loan commitments (as stated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K typically, you will need an individual guarantee and security is provided in the form of an asset charge.
