The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the eligibility requirements for our $100K to $500K business financing.
All that’s needed to begin is your contact information (company name, your name, email, phone) as well as the amount you’d like to borrow, and your monthly earnings.
During the process and before settlement we’ll require confirmation of who you are but not to get started:
In addition, once we have started with loans of more than $150,000 you’ll also need basic financial statements.
Let’s get started now.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
You can apply to get this Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and funds may be available in just 24 hours. Traditional company loans reference an interest rate per annum together with additional fees and charges. We offer a company loan is a pre-paid loan so you will be aware in advance of the total amount payable including any fees, charges or charges. Then, it is broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost any business need, such as the management of cash flow, company renovations, marketing to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your company needs to have been trading for at least 3 years and have an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used for almost all company purpose including business renovations, to purchase inventory or new equipment for general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for accessing funds over $150,000. This is by way of charge on assets, and may be registered through the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to repay credit that is generally based rather than stating the security of a specific asset. The person who is signing the guarantee is personally liable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR allows prioritisation over property that is personal to be assigned according to the date the security interest that is registered.
A caveat is a legal document filed to offer the public notice of a legal claim on a property.
If you’re requesting larger company loans of more than $250K we can 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. This pre-approval is based on a preliminary assessment which includes you answering a few financial health questions. It’s in no way an offer, nor is it a guarantee of financing. A conditional approval is subject a full credit assessment and any offer you are offered could be based on different terms.
You are eligible to apply for a business loan if you;
The application process is quick and simple. Simply complete the online form in just a few minutes, and an experienced company expert in lending will contact you to help you.
To be eligible for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details for application including credit consent twelve months bank statement, an IRD statements as well as the two most recent years’ financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we can often provide a response in one hour – as long as you make your application at quality business time and allow us to utilise the bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statements , we’ll be able to offer a decision in as little as an business day.
For the Larger Business Loan ($100K or more) we might be able to provide you with conditional pre-approval within 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this may be quicker depending on the specifics of each application. Some transactions have received approval within less than 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours. Also, allow us to use the advance bank verification to confirm your bank details online. If you opt to send us copies of your bank statement, it takes a bit longer.
For the Small Business Loan ($5K or more) we typically provide an answer within an hour – provided you apply in standard business timings and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements, we will be able to provide a decision within one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be likely to provide you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved in the space of 24 hours.
The most efficient method is to ensure you apply during normal business hours, and allow us to use our advance bank verification to instantly verify your bank information online. If you choose to upload documents from your account statements, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of elements for determining the health for your business and the amount of repayments that your business will be able to support. The total amount of your loan will be contingent on the specific circumstances the company.
When you submit an application for a particular amount, we will consider a number of variables to determine how much we can lend you such as well-being of your business as well as the amount of repayments that your company is able to afford. The total amount of your loan will be contingent on the specifics the business.
If you decide to apply for the business loan, we will assess the risk assessment of your company and offer you with a customised offer including the amount of the loan, the duration and interest rates. This business loan is an upfront-priced loan which means you know the exact amount due, which includes any interest rates, fees or charges.
Business loan interest rates depend on a variety of factors such as the amount that is that is borrowed, what company assets the money will be used for and the sector the company is in, how long the business has been in operation and whether the company has enough cash flow to pay for the loan, as well as the general health or financial standing of the company.
There aren’t any hidden charges for our company loans. You’ll be aware of the amount it is that you be required to pay and when, from day one. There’s no compounding and no additional fees (as as you make your payments on time).
We don’t charge an Application Fee. You can request a credit loan with with no upfront cost or the obligation to take action.
The Origination Fee is the cost 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 percent of the amount of the loan.
You can choose to repay the entire amount of the loan at any point in time.
If you choose to take this route, please speak to our friendly company lending specialists. They’ll provide you with repayment details and an early payment figure. The figure will be calculated as the sum of the principal remaining and any accrued interest at the time of the early payout, plus 1.5% of the principal balance plus any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your nominated company account.
Making sure that your information is secure, and making it clear the ways we gather data, process, exchange and protect your information, is crucial and an integral part of our relationship you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online, allowing us to provide an immediate response.
An asset-based loan is when an company owner uses the assets they have to obtain a loan. The asset can be a personal asset like the family home or it could be a business property like a truck or piece of equipment.
The majority of banks, not just the banks with the biggest size, prefer to secure loans against assets. If you are having difficulty paying back the loan, then the asset might be transferred to the lender. In essence it is a way of securing new financing taking advantage of the value of what you already own.
For loans of up to $150K, the requirement for asset security is not required prior to the loan’s access However, we require a personal guarantee. need an individual guarantee. So long as you comply with your loan commitments (as detailed in your loan contract) Asset security will never be required. For loans of over $150K generally there is an individual ensure and security in the form an asset charge.
