The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K company loan.
All that’s required to begin is your contact details (the name of your company, your name, email address or phone number), how much you want to borrow, as well as your monthly income.
While in the process and before settlement we’ll require confirmation of who you are however, not in order to begin:
Additionally after we get started, for loans over $150,000 you will also need 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.
The application for your Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and the funds could be in your account in 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. Our business loan is a pre-paid loan which means you know in advance the total amount payable including the interest, fees and charges. This is then broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost any business need, such as the management of cash flow, company remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To be eligible for a loan that is this large the company needs to have been trading for at least 3 years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Larger Business Loan can be used to fund almost every business need, including company renovations, purchase of inventory or new equipment as well as for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is necessary for accessing funds over $150,000. It is usually as a result of an charge against assets, and may include the registration of this with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is general in nature, rather than stipulating the security of a specific asset. The person who is signing the ensure is personally accountable if the business 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 records security interests that have been registered in respect of personal property (including objects or assets). The PPSR gives the priority of personal property assigned according to the date the security interest has been registered.
A caveat is a legal form of document to offer notice of a legal claim against a property.
If you’re applying for the Larger Business Loan that exceeds $250,000 we may be able to provide a preliminary pre-approval to help make the process. We might be able to get this done without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering some financial well-being checks. This is not an offer of credit 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 on different terms.
You are eligible to apply for an company loan if you;
The process for applying is fast and easy. Simply complete the online form within a couple minutes, and an experienced business loan specialist will call you to guide you through the process.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer in just one hour – as long as you submit your request in standard business timings and let us use the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statements , we will be able to offer a decision within an business day.
For the Larger Business Loan ($100K and up) we could be likely to offer you with conditional pre-approval within 6 hours. After you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The quickest method can be make sure you apply during normal business hours. You can also allow us to use our modern bank verification to instantly confirm your bank details online. If you send us the copies of bank accounts, it will take a little longer.
For the Small Business Loan ($5K and up) we usually provide an answer in just one hour, provided you make your application in standard business times and allow us to use the bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statements, we are able to provide an answer in just 1 business day.
If you are applying for Larger Business Loans ($100K or more) We may be in a position to provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved in just 24 hours.
The most effective method would be to make sure you apply during standard business hours and allow us to use our sophisticated bank verification link to instantly verify your bank account information online. If you opt to upload copies of your bank statement, it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a certain amount, we look at a variety of variables to determine what is the health for your company and the amount of repayments your company can afford. The total amount of the loan will be determined by the specifics the business.
When you apply for a set amount, we will consider a number of elements to assess the health of your business and the level of repayments your business is able to afford. The total amount of your loan will be contingent on the specifics of your business.
If you decide to request business loans with us company loans, we will assess the risk assessment of your company and offer you with a tailored offer including the amount of loan, the term and interest rates. This company loan is an upfront-priced loan and you’ll know the exact amount you will have to pay, including charges or interest.
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 company operates in, how long the business has been in operation, what percentage of the business has sufficient cash flow to pay for the loan, and also the overall health as well as creditworthiness business.
There are no hidden costs for our business loans. You’ll be aware of the amount you need to pay and when, from the first day. There’s no compounding and no additional fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You can apply for a loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the expenses involved with the setting up and management of the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can decide to repay all of your loan at any point in time.
If you are deciding to take this route, please speak to our friendly company credit specialists. They will provide you with repayment details and an early payment figure. The figure will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payout and 1.5 percent of the principal amount remaining and any outstanding fees.
In order to help you avoid missing payments and to work your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from your designated company account.
The security of your personal information, as well as being transparent about how we collect, use, exchange and ensure the security of your information is crucial and is a crucial element of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to customer security and security. We make use of an advanced bank verification system to immediately confirm your bank account information online. This allows us to offer an immediate response.
The term "asset-based" refers to borrowing where a company owner uses an asset that they own to secure the funding. The asset can be an individual property, such as the family home or a business asset such as a vehicle or piece of equipment.
The vast majority of the lenders including the banks with the biggest size, prefer to guarantee loans against an asset. If you’re having trouble paying back the loan then the asset could be taken over by the lender. In essence it is a way of securing new funding taking advantage of the value of what you already own.
Up to $150K in loans it is not necessary to secure assets before you can access the money, however we do require a personal guarantee. If you adhere to your loan obligations (as detailed in the loan contract) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150K generally there is a personal ensure and security in the form of charges on assets.
