The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Find out the conditions of eligibility for our $100K-$500K business credit.
All you need for starting is your contact information (the name of your company and your name, as well as email and telephone) along with the amount you’d like to borrow, and your monthly earnings.
Through the process and before settlement we’ll require confirmation of your identity, but not to get started:
In addition, once we have started in the process, for loans of more than $150,000 you’ll require fundamental financial statements:
Let’s get started now.
Brisbane unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
The application for the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an answer within the same day and funds may be in your account within 24 hours. Traditional business loans refer to an annual interest rate together with additional fees and charges. Our business loan is a loan that is priced upfront which means you be aware in advance of the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly payment amount.
A Small Business Loan can be used for virtually any company use, including managing cash flows, business remodeling, marketing to purchase inventory, new equipment, as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To be eligible for a credit of this size, your company needs to be trading for at least 3 years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large company loan can be used to fund almost any business purpose including business improvements, purchasing new equipment or inventory as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This can be done by way of charge against assets, and could include the registration of this through the PPSR or making a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is generally based rather than stipulating security over an asset. The person who is signing the guarantee is personally accountable if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be assigned in accordance with the date on which a security interest that is registered.
The caveat can be described as a formal document lodged to provide an official notice of a claim to property.
If you’re applying for a Larger Business Loan that exceeds $250K, we may offer a preliminary pre-approval to help simplify the process. It is possible to do this without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial well-being checks. It is in no way an offer, nor is it a guarantee of financing. A conditional approval is subject an exhaustive credit evaluation, and any offer that you receive could be subject to different conditions.
You can apply for a company loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and an experienced company expert in lending will contact you to help you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent, 12 months of bank records, IRD statements, last 2 years finalised financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we can often offer an answer within an hour if you apply in quality business hours and let us utilise the bank verification system to instantly verify your bank information online. If you choose to send us copies of your bank statements we can offer a decision within 1 company day.
For Larger Business Loans ($100K and up) we may be able to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be quicker based on the specifics of each application. Certain agreements have been approved within 24 hours.
The quickest way to apply would be to ensure you apply during normal business hours and permit us to use the modern bank verification link to instantly verify your bank account information online. If you opt to upload documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within one hour – provided you make your application during standard business timings and let us use the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements we can provide an answer in as little as 1 business day.
For Larger Business Loans ($100K to $500K) We may be likely to provide the conditional pre-approval in around six hours. Once you’ve signed your pre-approval, the turnaround time is 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 in the space of 24 hours.
The fastest method is to make sure you apply during standard business hours. You can also allow us to use the advanced bank verification system to confirm your bank details online. If you upload duplicates of your banking statements it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a specific amount we consider a variety of aspects to determine what is the health that is your company and the extent of repayments that your business can afford. The amount you receive from the loan will be determined by the specifics for your business.
When you submit an application for a certain amount, we consider a variety of variables to assess your well-being of the business and the amount of the repayments your company can support. The total amount of your loan will depend on the particulars of your business.
If you decide to make an application for one of our company loans, we’ll assess the risk profile for your company and provide an individualised offer that includes the amount of loan, the term and interest rates. It is a business loan is an upfront-priced loan therefore you will know in advance the total amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates vary due to variables like the amount to be that is borrowed, what business assets the funds will be used for, the industry the company is operating in, how long the business is in operation and whether the company has sufficient cash flow to cover the loan, and the overall well-being or creditworthiness of the business.
There aren’t any hidden costs with our company loans, and you’ll know exactly how much you be required to pay, and when, starting from the very first day. There’s not any compounding interest and no additional fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You are able to apply for a loan with with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay all of your advance loan at any time.
If you are deciding to pursue this option, please talk to one of our helpful business credit specialists. They will offer you with details on repayment along with an early payout estimate. It will be calculated using the sum of the remaining principal amount and accrued interest to the time of the early payout and 1.5 percent of the remaining principal and any outstanding fees.
To ensure that you don’t miss repayments and to fit in your cash flow schedule, we provide payments that are either weekly or daily. They are automatically deducted from your designated company account.
Security of your data, and making it clear how we collect information, use it, and exchange it, as well as secure your information, is of paramount importance and is a crucial element of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to customer security and privacy. We utilise a sophisticated bank verification system link to immediately verify the bank account details online, allowing us to offer quick responses.
Asset-based borrowing occurs when a business owner uses the assets they have to get the funding. The asset can be either an individual property, such as the family home, or it could be a company asset such as a truck as well as a piece of machine.
The vast majority of lending institutions, including the big banks, tend to guarantee loans against assets. If you are having difficulty paying back the loan, then the asset could be sold by the lender. In essence, it’s an opportunity to secure new funding taking advantage of the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security upfront to access the money However, we do require an individual guarantee. So long as you comply with the loan terms (as stated in your loan contract), asset security is not required. For loans over $150K generally, you are able to get a personal guarantee and security in the form an asset charge.
