The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K to $500K company loans.
All you need to start is your contact information (company name and your name, as well as email and phone), how much you want to borrow, and your monthly income.
While in the process and before settlement we will need confirmation of your identity but not for starting:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
The application to your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and funds may be in your account within 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. Our company loan is a loan that is priced upfront and you’ll be aware in advance of the amount you will have to pay, including any fees, interest or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually any company purpose including cash flow management, business renovations, marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size the company needs to be trading for at least 3 years with an annual turnover of $700K. It is necessary to be 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 demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost any business reason, such as company renovations, purchase of equipment or inventory, as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. This is by way of charge over assets and can include registration on the PPSR or registering a caveat.
A personal or director’s ensure is a commitment to repay credit that is general in nature, rather than stipulating the security for a particular asset. The person who is signing the ensure is personally accountable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR grants prioritisation over property that is personal to be granted depending on the date that a registration of a security interest.
Caveats are legal form of document to provide the legal claim against a property.
If you’re applying for a Larger Business Loan that is greater than $250,000, we may offer an initial pre-approval that will help ease the process. We could be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering a few financial well-being questions. It is neither an offer nor a guarantee of funds. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you are offered could be based on different conditions.
You can apply for an business loan if you
The application process is quick and simple. Just complete the online application in few minutes and an experienced company lending specialist will contact you to help you.
To apply for up $100,000, you’ll require ID details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K to $500K: Information on the application including credit consent and 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, and interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide an answer within one hour – as long as you make your application at standard company timings and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your banking statement, we’ll provide an answer within one company day.
For Larger Business Loans ($100K and up) we could be able to offer you with a conditional pre-approval in about six hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours. Also, allow us to use our advance bank verification link to instantly verify your bank information online. If you send us copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide a response in one hour if you apply within normal business timings and you allow us to use the bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements, we will be able to provide a decision in just one business day.
For Larger Business Loans ($100K up to $500,000) we might be in a position to offer you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Some transactions have received approval in 24 hours.
The most effective method is to ensure you apply during normal business hours. You can also allow us to use our advanced bank verification system to instantly verify your bank account information online. If you opt to upload the copies of bank accounts, it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. When you make an application for a certain amount we look at a variety of elements in order to assess how much we can lend you health that is your company and the extent of repayments that your business will be able to support. The total amount of your loan will be contingent on the specifics of your business.
When you submit an application for a certain amount, we take into consideration a variety of factors to assess your health of the company and the extent of the repayments your company can afford. The amount you receive from your loan will depend on the specifics of your business.
When you make an application for our company credit, we’ll assess the risk assessment of your company and provide you with a customised offer that includes loan amount, term and interest rates. This company loan is an upfront cost loan so you will know in advance the total amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates vary due to factors including the amount of money borrowed, the company assets the money will be used for, the industry the company operates in, the long the company has been in operation as well as whether the business has sufficient cash flow to fund the loan, and also the general health as well as creditworthiness company.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you’ll be required to pay and at what time, from day one. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You are able to get a cash loan with no cost upfront or 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 fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can repay the entire amount of the advance loan at any time.
If you decide to do this please talk to one of our helpful business loan professionals. They’ll offer you with the details of your repayment and an early payment figure. The figure will be calculated as the sum of the principal balance and accrued interest to the time of the early payout plus 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we provide payments that are either daily or weekly. They are automatically deducted from your designated company account.
Making sure that your information is secure, and being clear about the ways we gather, use, exchange and ensure the security of your information is of huge importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We use an advanced bank verification system to immediately verify your bank account information online to provide a fast response.
The term "asset-based" refers to borrowing where the company owner makes use of the assets they have to secure the loan. The asset could be an individual asset, such as the family home or a company property like a truck or other piece of machinery.
The majority of banks, not just the big banks, tend to secure loans against assets. If you’re having trouble paying back the loan then your assets could be taken over by the lender. In essence, it’s the process of securing new financing by using the value of what you already own.
Up to $150K in loans no asset security is required prior to the loan’s access but we require a personal guarantee. require an individual guarantee. So long as you comply with your loan obligations (as stated in your loan contract document) and you are able to meet your obligations, asset security will never be needed. If you take out loans in excess of $150K generally there is the option of a personal guarantee and security in the form of a charge over assets.
