The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Review the eligibility requirements for our $100K-$500K company loan.
All you need for starting is your contact details (company name, your name, email and telephone), how much you’d like to borrow and your monthly income.
While in the process and before settlement we will require confirmation of who you are but not to get started:
Additionally after we get started when it comes to loans over $150,000 you will also need basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow-friendly repayments, which are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and the money could be in your account in 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. Our company loan is a loan that is priced upfront which means you know ahead of time the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into weekly or daily payment amount.
A Small Business Loan can be used for virtually any business need, such as control of cash flow business improvements, advertising to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. The repayments are made weekly or fortnightly, depending on the flow of cash.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan in this amount the company needs to be operating for a minimum of 3 years, and have an annual income of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A large business loan can be used for almost all business use, including business remodeling, buying inventory or new equipment or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. It is usually in the form of a charge on assets and can include the registration of this through the PPSR or the registration of as a caveat.
A director’s or personal ensure is a guarantee to pay off a credit line that is generally in nature rather than specifying the security for a particular asset. The person who is signing the guarantee is personally responsible if the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR allows prioritisation over property that is personal to be assigned in accordance with the date on which a security interest that is registered.
Caveats are legal document that is filed to offer the public notice of a legal claim to a property.
When you’re applying for an enterprise loan that is greater than $250K we can offer an initial pre-approval to ease the process. We could be able to apply for this without a credit check, and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes you answering a few financial health questions. It’s not an offer or guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be based on different conditions.
You may apply for a business loan if you
The process for applying is fast and easy. Simply complete the online form in just a few minutes, and a dedicated company expert in lending will be in touch to assist you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we typically offer an answer within one hour – as long as you submit your request during quality business timings and you allow us to utilise the bank verification system link to immediately verify your bank account information online. If you choose to submit copies of your bank statements , we are able to offer a decision in just one company day.
For Larger Business Loans ($100K and up) we may be in a position to offer the conditional pre-approval in about 6 hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Some agreements have been approved within less than 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 to verify your bank account information online. If you choose to send us documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within an hour if you submit your request in normal business times and permit us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your bank statements, we’ll be able to offer an answer within an business day.
For the Larger Business Loans ($100K up to $500,000) we might be likely to provide you with conditional pre-approval within six hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The quickest method is to make sure you apply during standard business hours. You can also permit us to use the modern bank verification to instantly verify your bank information online. If you choose to upload the copies of bank statements, it can take a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a particular amount, we will consider a number of factors to determine what is the health of your company and the extent of payments your business will be able to support. The amount you receive from the loan will be determined by the particular circumstances the business.
When you make an application for a certain amount, we will consider a number of factors to determine how much we can lend you such as well-being of your business as well as the amount of repayments your business is able to afford. The amount you receive from your loan will be contingent on the particulars of your business.
When you make an application for business loans with us company financing, we’ll assess the risk assessment of your business and offer you with a customised offer, including loan amount, term and interest rates. It is a business loan is an upfront-priced loan which means you be aware of the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates depend on several factors like the amount of money borrowed, the business assets the funds are used to purchase as well as the field the company is in, how long the company has been in operation, what percentage of the business has enough cash flow to fund the loan, and also the general health or financial standing of the business.
There are no hidden costs with our company loans. You’ll know exactly how much you need to pay, and when, right from day one. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments in time).
We do not charge an Application Fee. You are able to request a credit loan with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the total amount of your loan early at any time.
If you do decide to do this please speak to our friendly company loan specialists. They’ll provide you with details on repayment along with an early payout estimate. This will be calculated as the sum of the principal amount remaining plus any accrued interest as of the time of the early payout, plus 1.5% of the remaining principal as well as any outstanding fees.
To make sure you do not miss payments and to work with your cash flow standard, we provide repayments either daily or weekly. These are automatically deducted from your company account.
Making sure that your information is secure, and making it clear the ways we gather data, process, exchange and safeguard your data, is of paramount importance and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We use an advanced bank verification system that allows you to immediately verify the bank account details online. This allows us to provide quick responses.
The term "asset-based" refers to borrowing where an business owner uses the assets they have to make the funds for a loan. The asset may be an individual property, such as the family home, or an business asset like a truck or other piece of machinery.
The majority of banks, including the largest banks, are inclined to make loans secured by an asset. If you are having difficulty paying back the loan, your assets could be sold by the lender. In essence it is the process of securing new financing using the value of what you already own.
Up to $150K in loans there is no requirement for asset security before you can access the money, however we do require an individual guarantee. In the event that you fulfill your loan obligations (as stated in your loan contract document) the security of assets will never be needed. For loans of over $150,000 typically, you will need a personal guarantee and security in the form of the charge of assets.
