The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Do you need more money? Take a look at the conditions of eligibility for our $100K-$500K company financing.
All you need to start is your contact details (the name of your company and your name, as well as email and phone) along with the amount you’d like to borrow, and your monthly income.
During the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started in the process, for loans greater than $150,000 you’ll require the following financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes by phone. You will receive an immediate response, and funds may be in your account within 24 hours. Traditional business loans are based on an interest rate per annum plus other fees and charges. This business loan is an upfront priced loan so you will be aware in advance of the total amount to be paid, including any fees, interest or charges. This is then broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used for nearly any company use, including managing cash flows, company improvements, advertising to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
To be eligible for a loan of this size, your company needs to be operating for a minimum of 3 years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A larger business loan can be used for nearly every company reason, such as business renovations, to purchase inventory or new equipment or as general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. This can be done by taking a charge against assets and can include registering this in the PPSR or filing a caveat.
A director’s or personal ensure is a promise to repay a loan which is general in nature rather than specifying security over a particular asset. The person signing the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR allows the priority of personal property assigned according to the date the security interest that is registered.
The caveat can be described as a formal document lodged to provide notice of a legal claim on a property.
If you’re applying for an enterprise loan of more than $250K we may be able to provide a preliminary pre-approval to help simplify the process. We might be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial well-being checks. It is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you receive could have different conditions.
You can apply for a business loan if you;
The application process is quick and easy. Just complete the online application in just a few minutes, and a dedicated company credit specialist will contact you to assist you.
To be eligible for up to $100,000, you’ll require ID details (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent twelve months of bank statements, IRD statements and the last two years’ finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) We can usually provide an answer within an hour, provided you apply in standard business times and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you choose to submit copies of your bank statement, we’ll offer the decision in just 1 company day.
For the Larger Business Loan ($100K or more) we may be able to provide you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this can be quicker based on the circumstances of each application. Certain offers have been approved within the space of 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours and let us use the advance bank verification link to instantly confirm your bank details online. If you choose to upload the copies of bank statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within an hour, provided you apply in standard business time and allow us to use the bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statements, we are able to provide an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be in a position to offer you with conditional pre-approval in around six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Certain agreements have been approved in just 24 hours.
The quickest method can be ensure you apply during normal business hours and permit us to use the modern bank verification link to instantly check your bank’s information online. If you send us documents from your account accounts, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a particular amount, we will consider a number of factors to determine what is the health of your company and the extent of payments your business can afford. The amount you receive from your loan will depend on the specifics the company.
When you submit an application for a specific amount we consider a variety of aspects to determine how much we can lend you such as health of the business and the extent of the repayments your company can afford. The amount you receive from your loan will be determined by the specific circumstances the business.
When you make an application for business loans with us business financing, we will assess the risk assessment for your company and provide you with a customised offer including the amount of loan, the term and interest rates. This business loan is an upfront cost loan so you will be aware in advance of the total amount to be paid, including any charges, interest rates or fees.
Business loan interest rates depend on a variety of factors including the amount borrowed, the business assets the money are used to purchase, the industry the company is operating in, how long the business has been running, whether the company has sufficient cash flow to cover the loan, and also the overall health and creditworthiness of the company.
There are no hidden fees for our company loans, and you’ll be aware of the amount you’ll be required to pay, and when, starting from day one. There’s no compounding interest, and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan with with no upfront cost or commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can decide to repay the total amount of your loan at any point in time.
If you do decide to pursue this option, please talk to one of our helpful business lending professionals. They will offer you with repayment details and an early payment figure. The figure will be calculated as the total of the principal balance and the accrued interest up to the time of early payment and 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow general, we offer repayments that are either daily or weekly. They will be automatically deducted from the nominated business account.
Security of your data, and being transparent about the ways we gather information, use it, and exchange it, as well as safeguard your data, is of huge importance 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 qualified for our dedication to the security of our customers as well as their security. We use an advanced bank verification system to instantly verify your bank account information online so we can offer rapid response.
The term "asset-based" refers to borrowing where an company owner makes use of assets they own to get the funding. The asset can be an individual asset, such as the family home, or a business asset such as a truck or piece or equipment.
The vast majority of the lenders even the major banks, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, your asset may be sold by the lender. In essence, it’s the process of securing new funding using the value of what you already own.
For loans up to $150,000 the requirement for asset security is not required before you can access the money but we do require a personal guarantee. So long as you comply with the terms of your loan (as specified in your loan contract), asset security is not required. For loans over $150K generally, there is an individual ensure and security is provided in the form of a charge over assets.
