The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K company loans.
All that’s required to start is your contact details (company name and your name, as well as email and telephone) along with the amount you want to borrow, as well as your monthly income.
During the process and before settlement we will require confirmation of your identity, but not before we can begin:
After we start with loans that exceed $150,000, you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the funds could be available in just 24 hours. Traditional company loans reference an annual interest rate together with additional fees and charges. Our company loan is an upfront priced loan so you will be aware in advance of the total amount due, which includes the interest, fees and charges. Then, it is broken down into either a daily or weekly amount to be paid back.
A Small Business Loan can be used for virtually any business purpose including the management of cash flow, company improvements, advertising to purchase 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 size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan that is this large the business needs to be in operation for at least 3 years with an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large company loan can be used to fund almost any business use, including business renovations, purchase of inventory or new equipment or as general working capital, and much more. The loan is not available for personal purposes.
Asset security is necessary to access funding over $150,000. This is by taking a charge against assets and can include registering this on the PPSR or making a caveat.
A director’s or personal ensure is a promise to repay credit that is general in nature, rather than stating security over a particular asset. The person who is signing the guarantee is personally liable if the company the borrower fails to pay back 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 the assets or goods). The PPSR grants the priority of personal property granted according to the date a security interest has been registered.
The caveat can be described as a formal document that is filed to offer notice of a legal claim to a property.
When you’re applying for an enterprise loan of $250K or more we can offer an initial pre-approval to smooth out the process. We might be able to apply for this without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes answering a couple of financial health checks. It’s neither an offer nor a guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you receive could be on different conditions.
You may be eligible for an business loan if you:
The process for applying is fast and simple. Just complete the online application in few minutes and a dedicated company loan specialist will contact you to guide you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent twelve months bank statement, an IRD statements Last 2 years’ finalised financial statements, in addition to interim current financial year financials as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we typically provide an answer in just one hour – as long as you make your application in standard business time and you allow us to make use of the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we are able to provide an answer within just one company day.
For Larger Business Loans ($100K to $500K) we could be capable of provide the conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Certain offers have been approved in less than 24 hours.
The most effective method is to ensure you apply during normal company hours. You can also permit us to use the advanced bank verification system link to instantly verify your bank account information online. If you decide to upload duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within an hour – provided you make your application within normal business time and let us use the advanced bank verification system link to immediately verify your bank account information online. If you decide to send us copies of your bank statements we can provide the decision within one business day.
For Larger Business Loans ($100K and up) we might be in a position to offer the conditional pre-approval within six hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this may be quicker depending on the specifics of each application. Some offers have been approved in less than 24 hours.
The quickest method is to make sure you apply during standard business hours. You can also allow us to use our sophisticated bank verification to instantly verify your bank account information online. If you opt to send us documents from your account statements, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of aspects for determining how much we can lend you health of your company and the amount of payments your company will be able to support. The total amount of the loan will be determined by the particular circumstances the company.
When you apply for a set amount, we look at a range of variables to determine your well-being of your business and the extent of repayments your company can support. The amount you receive from the loan will be determined by the particular circumstances the business.
If you decide to make an application for business loans with us business loans, we’ll assess the risk assessment that you have for your company and offer you with a customised proposal that includes the amount of loan, the term and interest rates. It is a company loan is an upfront cost loan which means you know the exact amount due, which includes any charges, interest rates or fees.
Business loan interest rates depend on a variety of factors including the amount borrowed, the company assets the funds are used to purchase as well as the field the business is operating in, how long the company has been running for, what percentage of the business has sufficient cash flow to fund the loan, as well as the general health or creditworthiness of the business.
There are no hidden fees with our business loans. You’ll be aware of the amount you need to pay and at what time, from the day you sign up. There’s not any compounding interest and no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You are able to get a cash loan absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay all of your loan early at any time.
If you are deciding to take this route, please call our helpful business loan professionals. We will provide you with details for repayment and an early payout figure. This is calculated as the sum of the principal balance and the accrued interest up to the time of early payout and 1.5 percent of the principal remaining and any outstanding fees.
To make sure that you don’t miss repayments and to fit in your cash flow cycle we offer repayments that are either weekly or daily. These are automatically withdrawn from your company account.
Security of your data, and being transparent about the ways we gather, use, exchange and secure your information, is of paramount importance and a vital part of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We make use of an advanced bank verification system that allows you to immediately verify your bank account details online, allowing us to provide an immediate response.
Asset-based borrowing is when a company owner uses an asset that they own to secure the funding. The asset could be an individual property, such as the family home or it could be a business property like a truck or piece or equipment.
The vast majority of lenders, not just the banks with the biggest size, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, then the asset might be offered for sale by the lender. In essence it is a way of securing new funding making use of the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security upfront to access the money but we do need an individual guarantee. In the event that you fulfill your loan commitments (as specified in your loan contract document) the security of assets is not required. For loans of over $150,000 generally there is personal ensure and security is provided in the form of an asset charge.
