The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K company loan.
All that’s required for starting is your contact information (the name of your company, your name, email and telephone) and the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we will need confirmation of your identity, but not before we can begin:
Once we’ve started in the process, for loans over $150,000 you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
The application to get this Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and funds may be available in just 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. Our company loan is a loan that is priced upfront so you will know in advance the amount you will have to pay, including any interest, fees or charges. This is then divided into a daily or weekly payment amount.
It is a Small Business Loan can be used to fulfill almost every company purpose including cash flow management, company improvements, advertising for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. The repayments are made weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan in this amount, your company needs to be in operation for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A larger business loan is a great option for almost every company purpose including company renovations, to purchase equipment or inventory or as general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary to obtain funding above $150,000. This is in the form of a charge against assets, and may include registering this through the PPSR or making as a caveat.
A personal or director’s ensure is a guarantee to repay credit that is general in nature rather than specifying the security for a particular asset. The person who is signing the guarantee is personally responsible if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including items or assets). The PPSR permits preference over private property granted according to the date the security interest was registered.
Caveats are legal form of document to provide the legal claim on a property.
If you’re applying for larger business loans of $250,000 or more we can offer a preliminary pre-approval to help smooth out the process. We may be able to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes the answer to a series of financial health checks. It is in no way an offer, nor is it a guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer you receive could be on different terms.
You may be eligible for a company loan if you
The application process is quick and simple. Just complete the online application within a couple minutes, and an experienced business credit specialist will call you to guide you.
To apply for up to $100,000 you’ll require identification details (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, in addition to interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour if you apply at standard business time 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 submit copies of your bank statements we can offer an answer in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be likely to provide you with pre-approval conditional to your application within six hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however this can be quicker based on the particular circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way for you to apply is ensure you apply during standard company hours and allow us to use our advance bank verification link to verify your bank information online. If you decide to send us duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer in just one hour if you make your application at standard business timings and allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your bank statements, we are able to provide an answer within the span of one business day.
For Larger Business Loans ($100K or more) we may be likely to offer you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some agreements have been approved in just 24 hours.
The fastest method would be to make sure you apply during standard business hours and allow us to use the advance bank verification link to check your bank’s information online. If you opt to send us the copies of bank statement, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we look at a variety of factors in order to assess what is the health of the company as well as the amount of payments your business can afford. The amount you receive from your loan will depend on the specific circumstances for your company.
When you apply for a specific amount we take into consideration a variety of elements to determine how much we can lend you such as health for 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 the business.
When you request one of our business loan, we’ll assess the risk profile of your business and offer you with a customised proposal that includes the amount of loan, the term and the interest rates. A company loan is an upfront priced loan and you’ll be aware of the total amount to be paid, including any interest rates, fees or charges.
The interest rates on business loans rates vary due to factors including the amount borrowed, the company assets the money are used to purchase in addition to the industry that the company operates in, how long the business has been running as well as whether the business has sufficient cash flow to cover the loan, as well as the general well-being or creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know precisely how much you’ll need to pay and when, right from the first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan no cost upfront or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us 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 decide to do this please call our helpful business loans specialists. They’ll provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal amount remaining and accrued interest to the date of early payout in addition to 1.5 percent of the principal amount remaining and any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow routine, we offer repayments that are either weekly or daily. They are automatically deducted from your designated business account.
Security of your data, and making it clear how we collect, use, exchange and ensure the security of your information is of paramount importance and a vital part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our clients and security. We employ an exceptionally sophisticated bank verification system that allows you to instantly verify your bank account information online so we can provide an immediate response.
An asset-based loan is when an company owner makes use of assets they own to get the funding. The asset could be an individual asset, such as the family home, or a company asset such as a vehicle or other piece of machinery.
The vast majority of lending institutions, even the big banks, tend to make loans secured by an asset. If you have trouble paying back the loan, then your asset may be offered for sale by the lender. In essence, it is an opportunity to secure new financing making use of the value of what you already have.
Up to $150K in loans the requirement for asset security is not required upfront to access the money however, we require a personal guarantee. require the personal guarantee. As long as you follow your loan obligations (as detailed in the loan contract) Asset security is not required. If you take out loans in excess of $150K typically, you will need an individual ensure and security that is in the form an asset charge.
