The requirements for obtaining 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 company loans.
All you need for starting is your contact information (company name, your name, email address or phone number) as well as the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll require confirmation of who you are, but not before we can begin:
In addition, once we have started in the process, for loans greater than $150,000 you will also require the following 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 and cash flow friendly repayments which can be made daily or weekly.
You can apply to this Small Business Loan in under 10 minutes online or on the phone. You’ll receive an answer within the same day and the money could be available in just 24 hours. Traditional business loans reference an annual rate of interest plus other fees and charges. The company loan is a loan that is priced upfront and you’ll be aware of the amount you will have to pay, including any fees, interest or charges. Then, it is divided into a daily or weekly amount to be paid back.
A Small Business Loan can be used for virtually every company purpose including control of cash flow company remodels and marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To be eligible for a credit that is this large, your business needs to be in operation for at least 3 years and have an annual turnover of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used for nearly any company use, including business improvements, purchasing 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 required to obtain funding above $150,000. This can be done by taking a charge on assets, and could be registered in the PPSR or the registration of as a caveat.
A personal or director’s ensure is a guarantee to pay back a loan that is general in nature, rather than defining security over an asset. The person who signs the ensure is personally accountable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be granted according to the date the registration of a security interest.
The caveat can be described as a formal form of document to provide notice of a legal claim against a property.
If you’re requesting larger business loans of $250K or more it is possible to offer an initial pre-approval in order to make the process. We may be able to make this decision without a credit verification and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health checks. 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 you are offered could have different terms.
You may apply for a business loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and a dedicated business credit specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll require the right identification documents (valid Driver’s Licence), an active NZBN/IRD, and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent twelve months of bank statements, IRD statement Last 2 years’ finalised financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer in just one hour if you submit your request at quality business hours and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your bank statements , we are able to provide the decision in just one business day.
For the Larger Business Loan ($100K and up) we might be in a position to provide you with pre-approval conditional to your application within six hours. After you’ve signed your 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 deals have been approved within 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 link to confirm your bank details online. If you send us copies of your bank accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer in just one hour – provided you submit your request in normal business timings and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to submit copies of your bank statements, we’ll be able to offer the decision in as little as one business day.
For the Larger Business Loans ($100K up to $500,000) we may be likely to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Certain offers have been approved in the space of 24 hours.
The fastest way would be to ensure you apply during standard business hours. Also, allow us to use the sophisticated bank verification to instantly verify your bank account information online. If you choose to send us documents from your account statements it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a certain amount, we consider a variety of elements for determining the health of your business and the amount of repayments your company can afford. The amount you receive from your loan will be contingent on the specifics for your company.
When you apply for a certain amount, we will consider a number of elements to determine the health of your business and the amount of repayments your company is able to afford. The total amount of your loan will depend on the particulars that are unique to your company.
When you apply for our company credit, we will assess the risk assessment that you have for your business and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. The company loan is a loan that is priced upfront therefore you will be aware of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates vary due to factors including the amount that is borrowed, what business assets the money are used to purchase, the industry the company operates in, the long the company has been running, in the event that the business has enough cash flow to pay for the loan, and overall health or financial standing of the company.
There are no hidden fees with our company loans, and you’ll know exactly how much it is that you be required to pay, and when, right from the very first day. There’s not any compounding interest and there are no additional charges (as long as you make your payments punctually).
We don’t charge an application fee. You can get a cash loan with without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay all of your loan in full at any time.
If you are deciding to do this please speak to our friendly company loans experts. We will provide you with details on repayment along with an early payout estimate. This is calculated as the total of the principal amount remaining and accrued interest to the date of early payout in addition to 1.5% of the principal balance plus any outstanding fees.
To ensure that you don’t miss repayments and to fit in your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from your nominated business account.
Security of your data, and being clear about the ways we gather the information we collect, use, share and secure your information, is of paramount importance and is an essential element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to security for our customers and security. We utilise a sophisticated banking verification system to immediately verify the bank account details online so we can offer quick responses.
An asset-based loan is when a business owner utilises an asset they own to secure the loan. The asset may be an asset belonging to the personal, like the family home or it could be a company asset like a truck as well as a piece of machine.
The majority of lending institutions, not just the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan, your asset may be sold by the lender. In essence it is an opportunity to secure additional financing making use 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 an individual guarantee. As long as you follow the terms of your loan (as stated in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans over $150,000 generally, you can get a personal ensure and security that is in the form the charge of assets.
