The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Do you require more money? Check out the guidelines for eligibility for our $100K-$500K company loan.
All that’s needed to start is your contact information (company name, your name, email, phone), how much you’d like to lend, and your monthly revenue.
In the course of the process and before settlement we’ll need confirmation of your identity, but not to get started:
Additionally after we get started with loans of more than $150,000 you will also need basic financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
The application to get this Small Business Loan in under 10 minutes on the internet or by phone. You will receive an instant response and the funds could be available in just 24 hours. Traditional business loans reference an interest rate per annum along with other charges and fees. Our business loan is a loan that is priced upfront so you will know ahead of time the total amount to be paid, including any fees, interest or charges. Then, it is broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually every business purpose including control of cash flow company renovations, marketing, to purchase inventory or new equipment, for general working capital, and 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 over a fixed term up to 36 months. The repayments are made weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size, your company needs to have been operating for at least three years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, 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 for nearly all company reason, such as business renovations, to purchase inventory or new equipment or as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary to obtain funding above $150,000. This is as a result of an charge over assets, and could include registering this through the PPSR or making as a caveat.
A personal or director’s ensure is a promise to repay a loan which is general in nature rather than defining the security for a particular asset. The person signing the ensure is personally liable if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including objects or assets). The PPSR allows priority over personal property to be assigned in accordance with the date on which a security interest has been registered.
An affidavit is an official document lodged to provide the public notice of a legal claim against a property.
If you’re seeking a Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval to simplify the process. We may be able to get this done without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes you answering a few financial health questions. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you may receive may be on different conditions.
You are eligible to apply for an company loan if you
The process for applying is fast and easy. Just complete the online application within a few minutes and a dedicated company lending specialist will be in touch to assist you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Application details including credit consent, 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within one hour, provided you submit your request during standard business timings and permit us to utilise the bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statement, we’ll provide a decision within just the span of one company day.
For the Larger Business Loan ($100K or more) we may be able to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some offers have been approved within just 24 hours.
The fastest way is to make sure you apply during normal business hours. Also, allow us to use our advanced bank verification system link to verify your bank account information online. If you send us the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer within one hour – provided you apply at normal business timings and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statements, we will be able to provide a decision in as little as 1 business day.
For Larger Business Loans ($100K up to $500,000) We may be able to offer you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours, and let us use the advance bank verification to instantly verify your bank information online. If you choose to upload the copies of bank statements it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a certain amount, we will consider a number of variables that determine what is the health that is your company and the extent of repayments that your company is able to afford. The total amount of your loan will depend on the particular circumstances that are unique to your business.
When you submit an application for a specific amount we take into consideration a variety of elements to determine the well-being of your company as well as the amount of repayments your business is able to afford. The total amount of the loan will be determined by the particulars the company.
When you apply for one of our business credit, we’ll assess the risk assessment of your business and provide you with a customised offer, including the amount of the loan, the duration and interest rates. This business loan is an upfront-priced loan and you’ll know in advance the total amount due, which includes any costs, fees, or interest rates.
The interest rates on business loans rates depend on several factors like the amount of money borrowed, the company assets the funds will be used for as well as the field the business is in, how long the business is in operation and how long the company has sufficient cash flow to support the loan, and overall health or creditworthiness of the company.
There aren’t any hidden costs with our business loans, and you’ll know precisely what you need to pay, and when, starting from day one. There’s not any compounding interest and no additional fees (as long as you are able to make your payments on time).
We do not charge an application fee. You can apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You may choose to pay back the entire amount of the loan early at any time.
If you decide to do this please speak to our friendly business loan experts. We will offer you with repayment details as well as an early payout amount. The figure will be calculated as the sum of the principal amount remaining and any accrued interest at the time of early payout and 1.5% of the principal remaining as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments that are either daily or weekly. They are automatically deducted from your nominated business account.
Protecting your information, and being clear about how we collect data, process, exchange and ensure the security of your information is of paramount importance and is a crucial part of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and security. We make use of an advanced banking verification system to instantly verify your bank account information online. This allows us to provide a fast response.
An asset-based loan is when a company owner uses an asset that they own to get a loan. The asset could be an individual asset, such as the family home, or an company asset like a truck as well as a piece of machine.
The vast majority of lending institutions, including the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan then the asset could be taken over by the lender. In essence, it’s the process of securing new funding using the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required before you are able to access the money, however we require a personal guarantee. need an individual guarantee. In the event that you fulfill the terms of your loan (as specified in your loan contract document) Asset security is not needed. For loans of over $150,000 typically, you will need personal guarantee and security in the form a charge over assets.
