The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the eligibility requirements for our $100K-$500K business loans.
All you need to get started is your contact information (the name of your company, your name, email, phone) as well as the amount you’d like to borrow, and your monthly earnings.
In the course of the process and before settlement we will need confirmation of your identity but not for starting:
Once we’ve started with loans that exceed $150,000, you’ll also need the following financial statements:
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Brisbane unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes over the phone, receive a same day response and the money could be on your account within 24 hours. Traditional company loans reference an annual rate of interest along with other charges and fees. We offer a business loan is a cash-based loan so you will know ahead of time the total amount due, which includes any fees, interest or charges. This is then divided into a daily or weekly payment amount.
It is a Small Business Loan can be used for almost any company need, such as control of cash flow company remodels and marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to have been operating for a minimum of 3 years and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Larger Business Loan can be used for almost all business purpose including business renovations, to purchase inventory or new equipment for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. This can be done by taking a charge against assets, which could also include registering this with the PPSR or making a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than defining security over an asset. The person signing the ensure is personally responsible if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR grants priority over personal property to be granted according to the date the security interest has been registered.
A caveat is a legal form of document to offer notice of a legal claim against a property.
If you’re seeking a Larger Business Loan that is greater than $250,000 we may be able to provide an initial pre-approval to simplify the process. We might be able to apply for this without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves answering a couple of financial health checks. It’s neither an offer nor a guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer you might receive could be subject to different terms.
You can apply for an company loan if you:
The application process is fast and easy. Complete the online form in few minutes and an experienced business expert in lending will contact you to help you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s License) and a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent as well as 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within one hour if you submit your request within quality company timings and you allow us to make use of the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements we can offer a decision within just one business day.
For the Larger Business Loan ($100K to $500K) we could be able to provide the conditional pre-approval within six hours. Once you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, it could be faster based on the specifics of each application. Some offers have been approved within just 24 hours.
The quickest method is to ensure you apply during standard company hours and let us use the advanced bank verification system to verify your bank account information online. If you upload documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within one hour – provided you submit your request at normal business time and allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statements, we will be able to offer an answer in just the span of one business day.
For Larger Business Loans ($100K to $500K) we may be likely to offer you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Certain transactions have received approval in less than 24 hours.
The fastest method for you to apply is ensure you apply during standard business hours and allow us to use our sophisticated bank verification link to verify your bank account information online. If you choose to send us copies of your bank statement, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a certain amount we look at a variety of aspects that determine the health of the business and the level of payments your company can support. The amount you receive from your loan will depend on the specific circumstances of your business.
When you apply for a particular amount, we consider a variety of aspects to determine how much we can lend you such as health that is your company and the amount of repayments that your business can afford. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
If you decide to request the company loans, we will assess the risk profile the company and provide you with a customised offer, including the amount of the loan, the duration and the interest rates. This business 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 including the amount borrowed, what business assets the funds will be used for as well as the field the business operates in, how long the business is in operation, how long the company has sufficient cash flow to fund the loan, and the general well-being as well as creditworthiness company.
There aren’t any hidden costs with our business loans, and you’ll be aware of the amount it is that you be required to pay and when, right from the very first day. There’s no compounding and no extra fees (as as you make your payments in time).
We do not charge an application fee. You can make an application for loans with without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You may choose to pay back all of your loan early at any time.
If you are deciding to take this route, please contact our helpful business loans professionals. We will provide you with details on repayment and an early payment figure. It will be calculated using the total of the principal remaining and the accrued interest up to the time of early payout in addition to 1.5% of the principal balance and any outstanding fees.
To ensure that you don’t miss payments and to work with your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your business account.
Making sure that your information is secure, and knowing the ways we gather data, process, exchange and secure your information, is crucial and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We make use of an advanced banking verification system to instantly verify your bank account information online so we can offer a fast response.
Asset-based borrowing is when the company owner borrows from an asset they own to secure a loan. The asset can be a personal asset like the family home or it could be a company asset such as a vehicle or other piece of machinery.
The majority of lenders, including the big banks, tend to make loans secured by assets. If you are having difficulty paying back the loan, the asset might be offered for sale by the lender. In essence, it’s an opportunity to secure new financing taking advantage of the value of what you already own.
For loans up to $150K no asset security is required prior to the loan’s access but we do require the personal guarantee. So long as you comply with your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security will never be needed. If you take out loans in excess of $150K generally, you can get an individual guarantee and security is provided in the form of the charge of assets.
