The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Review the conditions of eligibility for our $100K to $500K company loan.
All that is needed to start is your contact details (the name of your company and your name, as well as email and telephone) along with the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we’ll require confirmation of who you are but not for starting:
After we start with loans of more than $150,000 you will also require basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
You can apply for your Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and funds may be available in just 24 hours. Traditional business loans reference an interest rate per annum as well as other fees and charges. The company loan is a loan that is priced upfront which means you know ahead of time the total amount payable including any fees, interest or charges. Then, it is divided into a daily or weekly payment amount.
The Small Business Loan can be used for almost any company need, such as managing cash flows, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
To be eligible for a loan that is this large the company needs to be operating for a minimum of 3 years, and have an annual income of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger company loan can be used for almost any company reason, such as business remodeling, buying new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. It is usually in the form of a charge against assets, which could also include registration on the PPSR or filing a caveat.
A personal or director’s guarantee is a promise to repay credit that is generally in nature rather than stipulating the security of a specific asset. The person who signs the guarantee is personally responsible if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR grants preference over private property granted according to the date a security interest that is registered.
Caveats are legal document lodged to offer the public notice of a legal claim on a property.
If you’re applying for an enterprise loan of $250,000 or more we can offer an initial pre-approval to make the process. It is possible to make this decision without credit checks and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering some financial well-being questions. It’s not an offer or guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer that you might receive could be based on different terms.
You can apply for an business loan if you
The process for applying is fast and simple. Simply complete the online form within a couple minutes, and an experienced company expert in lending will be in touch to help you.
To apply for up $100,000, you’ll require identification details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent twelve months of bank records, IRD statements as well as the two most recent years’ financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often provide an answer within one hour – as long as you make your application in quality company time and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statements , we’ll be able to offer a decision in as little as one business day.
For the Larger Business Loan ($100K up to $500,000) we could be able to provide you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Certain agreements have been approved within just 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours and permit us to use the advance bank verification to confirm your bank details online. If you choose to upload copies of your bank statement, it takes a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer in just one hour, provided you make your application in standard business times and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statement, we’ll provide a decision within the span of one business day.
For Larger Business Loans ($100K or more) we could be capable of offer you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Some offers have been approved in just 24 hours.
The fastest method can be ensure you apply during normal business hours. You can also allow us to use our modern bank verification to verify your bank information online. If you decide to upload duplicates of your banking statements it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a certain amount we look at a variety of factors that determine the health for your business and the extent of payments your company is able to afford. The amount you receive from your loan will depend on the specific circumstances the business.
When you make an application for a specific amount we look at a range of elements to assess how much we can lend you such as well-being of the company and the level of repayments your business will be able to support. The total amount of your loan will depend on the particular circumstances for your company.
When you make an application for one of our business loans, we’ll assess the risk profile of your company and provide you with a customised proposal that includes loan amount, term and the interest rates. This business loan is an upfront priced loan therefore you will be aware of the total amount you will have to pay, including charges or interest.
Interest rates for company loans rates depend on a variety of factors including the amount that is borrowed, what business assets the money will be used for and the sector the company is in, how long the business has been running, what percentage of the business has enough cash flow to support the loan, and also the overall well-being and creditworthiness of the company.
There aren’t any hidden charges for our company loans, and you’ll be aware of the amount you be required to pay, and when, starting from the first day. There’s no compounding interest, and there are no additional charges (as long as you are able to make your payments on time).
We do not charge an Application Fee. You are able to make an application for loans no cost upfront or the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay the entire amount of your loan at any point in time.
If you do decide to pursue this option, please contact our helpful business loans professionals. They will offer you with details for repayment and an early payment figure. The figure will be calculated as the sum of the principal balance and accrued interest to the time of the early payout in addition to 1.5% of the principal balance and any fees that remain unpaid.
To ensure you do not miss payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your company account.
The security of your personal information, as well as making it clear how we collect the information we collect, use, share and protect your information, is of paramount importance and an integral part of our relationship you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to security for our clients and security. We employ a highly sophisticated bank verification system to instantly verify your bank account details online, allowing us to provide quick responses.
The term "asset-based" refers to borrowing where the company owner makes use of assets they own to get a loan. The asset could be an asset belonging to the personal, like the family home or it could be a company asset such as a vehicle or other piece of machinery.
The vast majority of the lenders including the major banks, prefer to make loans secured by an asset. If you are having difficulty paying back the loan then the asset might be taken over by the lender. In essence it is means of securing new financing using the worth of the asset you already have.
For loans of up to $150K, it is not necessary to secure assets in advance to gain access to the funds, however we require a personal guarantee. require a personal guarantee. So long as you comply with the terms of your loan (as stipulated in your loan contract document) the security of assets will never be required. For loans that exceed $150,000, generally, you are able to get the option of a personal guarantee and security in the form the charge of assets.
