The requirements for obtaining an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Do you need more money? Check out the guidelines for eligibility for our $100K-$500K company loan.
All you need for starting is your contact information (company name, your name, email and phone) and the amount you’d like to lend, and your monthly income.
Through the process and before settlement we will require confirmation of your identity, but not to get started:
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 ranging from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
The application to this Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and have the funds in your account within 24 hours. Traditional company loans reference an annual rate of interest along with other charges and fees. Our business loan is a loan that is priced upfront which means you be aware of the total amount to be paid, including any interest, fees or charges. This is then divided into weekly or daily installment amount.
It is a Small Business Loan can be used for almost every company use, including managing cash flows, business remodeling, marketing to purchase inventory, 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 business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly depending on you cashflow.
A Larger Business Loan has an Origination Fee which is calculated at 2.5% of the loan amount.
To qualify for a loan in this amount the company needs to be trading for at least 3 years, and have an annual income of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Business Loan of a larger size can be used for almost every company purpose including company improvements, purchasing equipment or inventory, as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is required for funding of more than $150,000. This can be done as a result of an charge on assets, which could also be registered through the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is generally based rather than stipulating the security of a specific asset. The person signing the ensure is personally responsible if the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR allows priority over personal property to be granted depending on the date that a security interest has been registered.
Caveats are legal document lodged to provide the legal claim to property.
If you’re applying for the Larger Business Loan of more than $250K we may be able to provide an initial pre-approval that will help ease the process. We could be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering some financial health checks. This is not an offer of credit or guarantee of financing. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you are offered could be based on different terms.
You are eligible to apply for a business loan if you
The application process is simple and easy. Complete the online form within a few minutes and a dedicated company lending specialist will call you to guide you.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent twelve months of bank statements, IRD statements Last 2 years’ finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we typically offer an answer within an hour if you make your application at quality company time and you allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements , we will be able to provide a decision in just 1 company day.
For the Larger Business Loan ($100K and up) we might be able to provide you with a conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved in the space of 24 hours.
The fastest way would be to ensure you apply during standard company hours and allow us to use the modern bank verification to confirm your bank details online. If you opt to send us the copies of bank statements it will take a little longer.
For the Small Business Loan ($5K or more) we typically offer an answer in just one hour, provided you submit your request at normal business times and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your banking statements, we are able to provide the decision within an business day.
For the Larger Business Loans ($100K to $500K) We may be in a position to provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Certain offers have been approved within the space of 24 hours.
The quickest method is to ensure you apply during normal business hours and allow us to use the sophisticated bank verification to instantly verify your bank account information online. If you opt to upload documents from your account statements, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a particular amount, we look at a variety of variables in order to assess your health for your company and the amount of payments your business is able to afford. The total amount of your loan will depend on the particular circumstances the company.
If you apply for a set amount, we look at a range of factors to assess the health for your company and the amount of repayments that your business can support. The total amount of your loan will be determined by the specific circumstances the business.
When you make an application for one of our business loan, we’ll assess the risk assessment of your business and provide you with a tailored offer, including loan amount, term and interest rates. This company loan is an upfront cost loan so you will be aware of the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates differ based on various variables like the amount to be that is borrowed, what company assets the money will be used for, the industry the company operates in, the long the company has been running for, in the event that the business has sufficient cash flow to pay for the loan, as well as the overall well-being or financial standing of the company.
There aren’t any hidden costs with our company loans. You’ll know exactly how much it is that you need to pay, and at what time, from the day you sign up. There’s no compounding interest, and there are no additional charges (as as you make your payments punctually).
We do not charge an Application Fee. You are able to request a credit loan with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this 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 entire amount of your advance loan at any time.
If you are deciding to do this please talk to one of our helpful business lending experts. They will offer you with details on repayment as well as an early payout amount. The figure will be calculated as the total of the remaining principal amount and accrued interest to the date of early payout plus 1.5 percent of the remaining principal plus any outstanding fees.
To ensure you do not miss due dates and also to be in line your cash flow cycle we offer repayments either daily or weekly. These are automatically deducted from your nominated company account.
Making sure that your information is secure, and being clear about the ways we gather, use, exchange and protect your information, is of paramount importance and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We employ a highly sophisticated banking verification system to immediately verify your bank account information online, allowing us to offer rapid response.
Asset-based borrowing occurs when a company owner borrows from assets they own to make a loan. The asset could be an individual property, such as the family home or an business asset like a truck or other piece of machinery.
The vast majority of lending institutions, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence, it is means of securing new financing using the value of what you already have.
For loans that exceed $150K, it is not necessary to secure assets prior to the loan’s access However, we do need a personal guarantee. So long as you comply with your loan obligations (as stated in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans over $150,000 typically, you will need personal guarantee and security in the form of the charge of assets.
