The requirements for getting an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K business loan.
All you need to get started is your contact details (the name of your company and your name, as well as email and phone) and the amount you’d like to borrow, and your monthly earnings.
While in the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
After we start in the process, for loans of more than $150,000 you will also need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
Apply for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an instant response and the funds could be in your account within 24 hours. Traditional company loans have an interest rate per annum as well as other fees and charges. The company loan is a cash-based loan therefore you’ll be aware of the total amount due, which includes the interest, fees and charges. This is then divided into weekly or daily payment amount.
It is a Small Business Loan can be used for almost every company need, such as managing cash flows, business remodels and marketing to purchase inventory or new equipment, as general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
This Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To qualify for a loan that is this large the company needs to have been operating for at least three years, and have an annual income of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used to fund almost any business reason, such as company renovations, to purchase new equipment or inventory as well as for general working capital, and much more. The loan is not available for personal purposes.
Asset security is needed to obtain funding above $150,000. It is usually by way of charge on assets and can be registered in the PPSR or registering as a caveat.
A director’s or personal ensure is a commitment to pay off a credit line that is general in nature rather than defining the security of a specific asset. The person who is signing the ensure is personally accountable if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR grants the priority of personal property assigned in accordance with the date on which a security interest was registered.
A caveat is a legal document that is filed to provide an official notice of a claim to a property.
If you’re seeking larger company loans of more than $250K we may be able to provide an initial pre-approval to make the process. It is possible to make this decision without a credit verification and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial health questions. It is neither an offer nor a guarantee of funds. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you receive could have different terms.
You are eligible to apply for a company loan if you:
The application process is quick and simple. Complete the online form within a few minutes and an experienced company loan specialist will contact you to assist you.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s License), an active NZBN/IRD, and at least six months worth of bank statements.
For larger loan sizes, you’ll also need:
$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-$500K: Information on the application including credit consent twelve months of bank statements, IRD statement Last 2 years’ finalised financial statements, as well as interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we typically provide an answer in just one hour if you make your application in quality company timings and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statement, we’ll offer an answer in just the span of one company day.
For the Larger Business Loan ($100K and up) we might be able to provide you with conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some offers have been approved in just 24 hours.
The fastest way would be to ensure you apply during normal company hours. Also, allow us to use our advance bank verification to check your bank’s information online. If you decide to send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within one hour – as long as you apply within standard business hours and permit us to use the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statement, we’ll offer the decision in as little as one business day.
If you are applying for Larger Business Loans ($100K and up) we might be in a position to offer you with pre-approval conditional to your application in around 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some offers have been approved within 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours, and allow us to use our advanced bank verification system to verify your bank information online. If you opt to send us copies of your bank statements, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you make an application for a certain amount, we take into consideration a range of variables in order to assess what is the well-being that is your business and the extent of the repayments your company will be able to support. The total amount of your loan will depend on the particular circumstances the business.
When you submit an application for a particular amount, we look at a range of aspects to determine the well-being of your business and the extent of repayments your business can support. The amount you receive from your loan will be determined by the specific circumstances of your business.
If you decide to request business loans with us business loan, we’ll assess the risk assessment for your business and offer you with a customised offer including the amount of the loan, the duration and the interest rates. The business loan is an upfront priced loan so you will be aware in advance of the total amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates depend on a variety of factors like the amount of money borrowed, what business assets the money are used to purchase in addition to the industry that the business is in, how long the business has been running for, in the event that the company has enough cash flow to support the loan, and the overall health or financial standing of the company.
There are no hidden fees for our business loans, and you’ll know precisely how much you need to pay, and when, right from day one. There’s not any compounding interest and there are no additional charges (as long as you make your payments in time).
We do not charge an application fee. You can request a credit loan with no upfront cost or obligation to proceed.
The Origination Fee covers the expenses involved 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 percentage of the loan amount.
You may choose to pay back the entire amount of your advance loan at any time.
If you do decide to pursue this option, please contact our helpful company lending experts. The professionals will provide you with details on repayment and an early payment figure. This is calculated as the total of the principal remaining and the accrued interest up to the time of early payment, plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To make sure that you don’t miss payment dates and to align your cash flow schedule, we offer repayments that are either daily or weekly. These are automatically deducted from your designated company account.
Making sure that your information is secure, and being clear about the ways we gather data, process, exchange and ensure the security of your information is vital and a vital part of our relationship you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our clients and security. We use an advanced banking verification system to instantly verify the bank account details online, allowing us to provide an immediate response.
Asset-based borrowing occurs when an company owner uses assets they own to get a loan. The asset could be a personal asset like the family home or an business asset such as a vehicle or piece of equipment.
The vast majority of banks, not just the big banks, tend to make loans secured by assets. If you are having difficulty paying 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 own.
For loans that exceed $150K, no asset security is required in advance to gain access to the funds but we require a personal guarantee. need an individual guarantee. So long as you comply with the loan terms (as stated in your loan contract), asset security is not needed. If you take out loans in excess of $150,000 generally, there is an individual guarantee and security in the form charges on assets.
