The eligibility requirements for 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 company loans.
All you need to begin is your contact information (company name and your name, as well as email, phone) as well as the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we will need confirmation of your identity, but not to get started:
Once we’ve started, for loans of more than $150,000 you’ll also require the following financial statements:
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
Apply to the Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the money could be in your account within 24 hours. Traditional business loans reference an annual interest rate plus other fees and charges. This business loan is a pre-paid loan so you will 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.
A Small Business Loan can be used for nearly any company use, including cash flow management, business renovations, marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size, your company needs to be in operation for at least 3 years with an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger company loan can be used for almost any company purpose including company improvements, purchasing equipment or inventory for general working capital and so much more. The loan is not available for personal purposes.
Asset security is required to access funding over $150,000. It is usually by way of charge over assets, and could include registering this on the PPSR or registering as a caveat.
A personal or director’s guarantee is a promise to repay a loan which is general in nature, rather than stating the security for a particular asset. The person who is signing the guarantee is personally accountable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR grants the priority of personal property assigned according to the date the registration of a security interest.
A caveat is a legal document filed to provide the public notice of a legal claim against a property.
If you’re applying for a Larger Business Loan of more than $250,000 it is possible to offer an initial pre-approval to smooth out the process. It is possible to do this without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes you answering a few financial well-being questions. It’s not an offer or guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you are offered could be subject to different conditions.
You may be eligible for an business loan if you;
The application process is fast and easy. Just complete the online application within a couple minutes, and a dedicated business credit specialist will call you to assist you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent and 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, in addition to interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) we can often provide an answer in just one hour if you make your application within quality company times and you allow us to make use of the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements , we are able to offer an answer in just one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be likely to provide you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain offers have been approved in the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal company hours and allow us to use the advance bank verification to verify your bank information online. If you send us the copies of bank accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within one hour – provided you apply during standard business time and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to send us copies of your bank statements we can offer a decision within 1 business day.
For the Larger Business Loans ($100K to $500K) we might be in a position to provide you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and let us use the modern bank verification to instantly verify your bank information online. If you upload duplicates of your banking statement, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a specific amount we consider a variety of elements in order to assess how much we can lend you health of the company as well as the amount of payments your company will be able to support. The amount you receive from the loan will be determined by the particular circumstances for your company.
When you make an application for a specific amount we will consider a number of aspects to determine how much we can lend you such as well-being for your business and the amount of payments your company can afford. The amount you receive from your loan will be contingent on the particulars for your company.
When you apply for our company financing, we will assess the risk profile for your company and provide you with a customised offer including the amount of loan, the term and the interest rates. It is a company loan is an upfront cost loan so you will be aware of the total amount due, which includes any interest rates, fees or charges.
The interest rates on business loans rates depend on a variety of factors like the amount of money of money borrowed, the company assets the funds are used to purchase and the sector the business operates in, how long the company has been in operation for, whether the business has enough cash flow to fund the loan, and also the overall well-being and creditworthiness of the company.
There aren’t any hidden charges with our company loans. You’ll be aware of the amount it is that you need to pay and when, from the day you sign up. There’s not any compounding interest and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You can apply for a loan with no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the entire amount of your loan at any point in time.
If you choose to do this please call our helpful company lending experts. The experts will offer you with details on repayment along with an early payout estimate. This will be calculated as the sum of the principal remaining and accrued interest to the time of early payment, plus 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow standard, we provide repayments either weekly or daily. These are automatically deducted from the nominated company account.
Security of your data, and being clear about how we collect, use, exchange and protect your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and security. We use an advanced banking verification system to instantly verify the bank account details online, allowing us to offer quick responses.
An asset-based loan is when a business owner borrows from assets they own to secure the loan. The asset can be either an individual property, such as the family home or an business asset like a truck or piece or equipment.
The vast majority of banks, including the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan then the asset might be taken over by the lender. In essence it is the process of securing new financing using the worth of the asset you already have.
For loans up to $150K there is no requirement for asset security upfront to access the money however, we require a personal guarantee. need the personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract document) the security of assets will never be needed. For loans over $150K generally there is the option of a personal guarantee and security in the form an asset charge.
