The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Do you require more money? Take a look at the conditions of eligibility for our $100K to $500K business credit.
All that’s required to get started is your contact information (the name of your company, your name, email, phone) along with the amount you’d like to borrow and your monthly earnings.
While in the process and before settlement we’ll need confirmation of who you are but not before we can begin:
After we start with loans over $150,000 you will also require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and the money could be on your account within 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. This business loan is a pre-paid loan so you will know ahead of time the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into either weekly or daily repayment figure.
A Small Business Loan can be used for virtually every business use, including managing cash flows, company remodels and marketing to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To be eligible for a loan that is this large, your business needs to have been operating for a minimum of 3 years, and have an annual income of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 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 Larger Business Loan can be used to fund almost every company need, including company remodeling, buying new equipment or inventory or as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. This is as a result of an charge over assets, and may be registered with the PPSR or registering as a caveat.
A director’s or personal ensure is a promise to repay a loan which is general in nature rather than specifying the security for a particular asset. The person signing the guarantee is personally responsible if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR permits preference over private property assigned according to the date a security interest was registered.
The caveat can be described as a formal document lodged to offer notice of a legal claim to a property.
When you’re applying for an enterprise loan that exceeds $250K we can offer a preliminary pre-approval to help make the process. We may be able to get this done without a credit check, and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial health checks. This is neither an offer nor a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you may receive may have different terms.
You are eligible to apply for a company loan if you;
The application process is quick and simple. Complete the online form within a few minutes and an experienced company expert in lending will call you to guide you through the process.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Application details including credit consent twelve months of bank records, IRD statement as well as the two most recent years’ financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we typically provide a response in one hour – as long as you make your application in standard business time and allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your bank statements we can provide an answer within just the span of one company day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to offer you with conditional pre-approval within six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved in just 24 hours.
The quickest method can be ensure you apply during standard company hours. You can also allow us to use our advanced bank verification system link to instantly verify your bank information online. If you decide to upload documents from your account accounts, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within an hour, provided you apply within normal business time and permit 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 bank statement, we’ll offer the decision within an business day.
For Larger Business Loans ($100K or more) we might be able to offer you with pre-approval conditional to your application in about 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 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and permit us to use the modern bank verification link to confirm your bank details online. If you choose to send us the copies of bank statements it takes a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a specific amount we will consider a number of factors that determine your well-being that is your business and the extent of payments your company can afford. The total amount of the loan will be determined by the particular circumstances that are unique to your business.
When you make an application for a set amount, we take into consideration a variety of aspects to assess your well-being that is your business and the amount of payments your business will be able to support. The total amount of the loan will be determined by the particular circumstances of your company.
When you apply for the business loans, we’ll assess the risk assessment the business and offer an individualised offer that includes the amount of loan, the term and interest rates. The business loan is an upfront cost loan and you’ll be aware in advance of the total amount due, which includes any charges or interest.
Interest rates for business loans rates depend on a variety of factors including the amount borrowed, the business assets the money will be used for and the sector the business operates in, how long the company has been running as well as how long the business has enough cash flow to fund the loan, and general well-being or creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll know precisely how much you’ll need to pay and when, from the first day. There’s no compounding and no additional fees (as as you make your payments punctually).
We do not charge an application fee. You are able to apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated in establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can choose to repay all of your loan in full at any time.
If you choose to do this please talk to one of our helpful company loan professionals. We will offer you with details for repayment along with an early payout estimate. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payment in addition to 1.5 percent of the principal balance and any outstanding fees.
In order to help you avoid missing payments and to work your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your designated business account.
Protecting your information, and knowing how we collect data, process, exchange and ensure the security of your information is vital and is a crucial element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to security for our clients and privacy. We utilise a sophisticated bank verification system link to instantly confirm your bank account information online. This allows us to provide an immediate response.
The term "asset-based" refers to borrowing where an company owner utilises an asset that they own to secure the loan. The asset may be an asset belonging to the personal, like the family home, or a business asset like a truck or piece of equipment.
The majority of lending institutions, including the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, then your assets could be transferred to the lender. In essence it’s an opportunity to secure additional financing using the value of what you already own.
For loans up to $150,000 there is no requirement for asset security prior to the loan’s access, however we do require an individual guarantee. In the event that you fulfill the terms of your loan (as detailed in your loan contract document), asset security is not needed. For loans of over $150,000 typically, you will need an individual ensure and security in the form a charge over assets.
