The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K business financing.
All you need to get started is your contact information (the name of your company and your name, as well as email or phone number) along with the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we will require confirmation of who you are, but not before we can begin:
After we start in the process, for loans of more than $150,000 you will also need basic financial statements.
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
You can apply to this Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. The business loan is a loan that is priced upfront therefore you’ll be aware of the total amount payable including any fees, charges or charges. This is then broken down into either a daily or weekly payment amount.
The Small Business Loan can be used for virtually any business purpose including cash flow management, company remodels and marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large the business needs to have been operating for at least three years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used to fund almost all business reason, such as company remodeling, buying new equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required for accessing funds over $150,000. This is by way of charge over assets, and could include the registration of this with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a promise to repay credit that is generally based rather than stating security over a particular asset. The person who signs the guarantee is personally responsible if the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR gives preference over private property assigned depending on the date that a security interest has been registered.
The caveat can be described as a formal document filed to offer the legal claim against a property.
If you’re requesting a Larger Business Loan of more than $250,000, we may offer a preliminary pre-approval to help ease the process. It is possible to do this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial well-being checks. It is not an offer of credit or guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer that you may receive may be on different conditions.
You may be eligible for a company loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and an experienced business credit specialist will contact you to help you.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent and 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, plus interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K or more) we can often offer an answer within one hour, provided you submit your request at quality company hours and let us utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your banking statements , we will be able to provide an answer within 1 company day.
For Larger Business Loans ($100K up to $500,000) we could be able to offer you with a conditional pre-approval in around six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved in just 24 hours.
The fastest way is to ensure you apply during standard business hours. Also, allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you opt to send us copies of your bank accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within an hour – as long as you make your application in normal business timings and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statements, we are able to provide the decision in just an business day.
If you are applying for Larger Business Loans ($100K or more) We may be likely to provide you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some offers have been approved within the space of 24 hours.
The fastest way would be to make sure you apply during normal business hours, and allow us to use our advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank accounts, it can take a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a certain amount we will consider a number of factors that determine your health of the company and the level of repayments that your company will be able to support. The amount you receive from your loan will depend on the specifics for your company.
When you make an application for a set amount, we take into consideration a variety of aspects to determine how much we can lend you such as well-being for your company and the extent of the repayments your business will be able to support. The amount you receive from your loan will be contingent on the specifics that are unique to your business.
If you decide to apply for business loans with us company loans, we’ll assess the risk assessment the company and provide you with a customised offer, including the amount of loan, the term and interest rates. It is a company loan is an upfront-priced loan and you’ll know the exact amount due, which includes any interest rates, fees or charges.
Interest rates for business loans rates depend on several factors including the amount borrowed, the business assets the funds are used to purchase and the sector the company operates in, the long the business has been operating, in the event that the business has enough cash flow to cover the loan, and overall health or creditworthiness of the company.
There are no hidden costs with our company loans. You’ll be aware of the amount you be required to pay and when, starting from the day you sign up. There’s no compounding interest, and no additional fees (as as long as you pay your payments on time).
We do not charge an Application Fee. You can get a cash loan with with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay the total amount of your loan early at any time.
If you choose to take this route, please call our helpful company loan experts. We will offer you with details for repayment as well as an early payout amount. The figure will be calculated as the sum of the principal remaining and the accrued interest up to the time of early payment plus 1.5% of the principal balance and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. They are automatically deducted from your company account.
Security of your data, and knowing the ways we gather the information we collect, use, share and protect your information, is of paramount importance and a vital part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account details online. This allows us to provide an immediate response.
An asset-based loan is when a business owner utilises assets they own to secure the funding. The asset could be a personal asset like the family home, or it could be a business asset such as a truck or piece of equipment.
The majority of the lenders including the big banks, tend to make loans secured by an asset. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence, it is means of securing new funding taking advantage of the value of what you already own.
For loans that exceed $150,000, it is not necessary to secure assets prior to the loan’s access, however we do require an individual guarantee. As long as you follow your loan commitments (as specified in your loan contract), asset security will never be needed. For loans of over $150K typically, you will need the option of a personal guarantee and security in the form charges on assets.
