The requirements for getting an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Find out the eligibility requirements for our $100K-$500K business financing.
All that’s needed to start is your contact information (company name, your name, email, phone) along with the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will need confirmation of your identity but not before we can begin:
Once we’ve started with loans that exceed $150,000, you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the funds could be in your account within 24 hours. Traditional company loans reference an interest rate per annum plus other fees and charges. Our business loan is a pre-paid loan and you’ll be aware in advance of the total amount to be paid, including any fees, interest or charges. Then, it is broken down into either a daily or weekly repayment figure.
It is a Small Business Loan can be used for nearly every company purpose including control of cash flow company remodels and marketing to purchase inventory, new equipment, or as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 over a fixed term up to 36 months. The repayments are made weekly or fortnightly, depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size the company needs to be operating for at least three years with an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger company loan can be used for nearly any business use, including business renovations, to purchase equipment or inventory for general working capital, and much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. It is usually by way of charge over assets, which could also be registered with the PPSR or making as a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature rather than stating security over a particular asset. The person who is signing the guarantee is personally responsible if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR gives preference over private property assigned according to the date the security interest has been registered.
A caveat is a legal document filed to provide an official notice of a claim to property.
If you’re applying for larger business loans of $250K or more we can offer an initial pre-approval in order to make the process. We could be able to do this without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial health checks. It is not an offer or guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer that you might receive could be on different terms.
You can apply for an business loan if you:
The application process is fast and easy. Complete the online form in few minutes and an experienced company lending specialist will call you to assist you.
To apply for up $100,000, you’ll require identification details (valid Driver’s License) and an active NZBN/IRD, and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Application details including credit consent, 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, in addition to interim financials for the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) We can usually provide an answer within one hour if you submit your request within standard business timings and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statement, we’ll offer a decision in just the span of one business day.
If you are applying for a Larger Business Loan ($100K to $500K) we could be able to provide the conditional pre-approval within six hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some transactions have received approval in less than 24 hours.
The quickest method would be to ensure you apply during normal company hours. Also, let us use the advance bank verification link to instantly check your bank’s information online. If you send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer in just one hour – as long as you apply at standard business hours and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can provide a decision within the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be able to provide you with conditional pre-approval within 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the specifics of each application. Certain transactions have received approval in less than 24 hours.
The most efficient method is to make sure you apply during standard business hours. Also, allow us to use the sophisticated bank verification to instantly confirm your bank details online. If you decide to send us the copies of bank statement, it can take a bit longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a certain amount, we will consider a number of elements in order to assess how much we can lend you well-being for your business and the level of repayments that your company will be able to support. The amount you receive from your loan will be contingent on the specifics for your company.
If you apply for a specific amount we look at a range of factors to assess the health for your company and the amount of payments your company can support. The total amount of your loan will depend on the specific circumstances that are unique to your business.
If you decide to request our business credit, we’ll assess the risk assessment the company and offer you with a customised proposal that includes loan amount, term and interest rates. The business loan is an upfront priced loan which means you know the exact amount you will have to pay, including interest rates, fees or charges.
The interest rates on company loans rates differ based on various factors including the amount that is borrowed, what business assets the money will be used for as well as the field the business is in, how long the company is in operation as well as whether the company has sufficient cash flow to fund the loan, and also the overall well-being or creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll be aware of the amount you need to pay and at what time, from the very first day. There’s not any compounding interest and there are no additional charges (as long as you make your payments on time).
We do not charge an Application Fee. You are able to make an application for loans without any upfront costs or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can repay all of your loan in full at any time.
If you choose to take this route, please call our helpful business lending specialists. We will offer you with the details of your repayment along with an early payout estimate. It will be calculated using the total of the remaining principal amount and accrued interest to the time of early payment, plus 1.5 percent of the principal remaining and any outstanding fees.
To help you avoid missing due dates and also to be in line your cash flow schedule, we offer repayments either daily or weekly. They will be automatically deducted from the nominated company account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of huge importance and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to protecting the security of customers and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online. This allows us to provide rapid response.
Asset-based borrowing is when a company owner utilises assets they own to get the loan. The asset can be an asset belonging to the personal, like the family home or it could be a company property like a truck as well as a piece of machine.
The vast majority of lending institutions, including the banks with the biggest size, prefer to secure loans against assets. If you are having difficulty paying back the loan, the asset might be taken over by the lender. In essence, it is an opportunity to secure additional financing taking advantage of the value of what you already have.
Up to $150K in loans there is no requirement for asset security in advance to gain access to the funds but we do need the personal guarantee. If you adhere to your loan obligations (as detailed in your loan contract), asset security will never be needed. For loans of over $150,000 typically, you will need a personal guarantee and security in the form a charge over assets.
