The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K company loans.
All you need for starting is your contact details (the name of your company, your name, email or phone number), how much you’d like to borrow, and your monthly income.
In the course of the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
After we start, for loans over $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
The application to the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive a same day response and funds may be available in just 24 hours. Traditional company loans are based on an annual rate of interest as well as other fees and charges. The company loan is an upfront priced loan therefore you’ll be aware of the total amount to be paid, including any fees, interest or charges. Then, it is divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually any business use, including control of cash flow company improvements, advertising to purchase inventory or new equipment, to fund general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly depending on your situation.
A Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount, your business needs to have been in operation for at least 3 years, and have an annual income of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or 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 is a great option for almost all business use, including business improvements, purchasing new equipment or inventory, as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required for accessing funds over $150,000. It is usually by way of charge over assets and can include the registration of this with the PPSR or filing a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is generally in nature rather than specifying the security for a particular asset. The person who signs the guarantee is personally accountable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR grants preference over private property assigned in accordance with the date on which a registration of a security interest.
Caveats are legal document filed to offer notice of a legal claim to a property.
When you’re applying for an enterprise loan that exceeds $250K we can offer an initial pre-approval that will help simplify the process. We could be able to make this decision without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves the answer to a series of financial health questions. It is neither an offer nor a guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you receive could be based on different conditions.
You can apply for an company loan if you;
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated business loan specialist will contact you to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (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 also require:
$100K – $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent and 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) we usually provide an answer within one hour if you apply at quality business hours and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you choose to send us copies of your bank statements we can provide an answer within one company day.
For the Larger Business Loan ($100K or more) we may be capable of provide the conditional pre-approval within six hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based upon the circumstances for each application. Certain transactions have received approval in 24 hours.
The quickest method is to ensure you apply during standard company hours and let us use the advanced bank verification system to verify your bank account information online. If you choose to send us documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide a response in one hour – provided you make your application within normal business time and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your banking statement, we’ll provide a decision in as little as one business day.
For Larger Business Loans ($100K to $500K) we might be able to provide you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Some agreements have been approved in less than 24 hours.
The fastest way can be ensure you apply during normal business hours, and allow us to use the sophisticated bank verification link to verify your bank account information online. If you opt to send us duplicates of your banking statements it may take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a particular amount, we look at a variety of aspects to determine your health that is your company and the amount of repayments your business can afford. The total amount of your loan will be contingent on the specific circumstances for your company.
When you submit an application for a set amount, we take into consideration a variety of aspects to assess the well-being that is your company and the level of repayments that your business can support. The total amount of your loan will depend on the specific circumstances of your business.
When you make an application for our business loan, we’ll assess the risk assessment of your business and offer you with a customised offer including the loan amount, the terms and interest rates. This business loan is a loan that is priced upfront so you will know in advance the total amount you will have to pay, including charges or interest.
The interest rates on company loans rates differ based on various factors like the amount of money of money borrowed, the business assets the money will be used for, the industry the company is operating in, how long the business has been operating, what percentage of the company has enough cash flow to pay for the loan, and also the overall health or creditworthiness of the company.
There aren’t any hidden charges for our company loans. You’ll know precisely what you’ll need to pay and when, right from the very first day. There’s no compounding interest, and the loan comes with no additional fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You are able to apply for a loan no cost upfront or commitment to apply.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay the total amount of your loan at any point in time.
If you do decide to do this please speak to our friendly company loans specialists. They’ll provide you with the details of your repayment and an early payment figure. This will be calculated as the sum of the principal balance and the accrued interest up to the time of the early payout and 1.5% of the remaining principal and any outstanding fees.
To help you avoid missing due dates and also to be in line your cash flow schedule, we provide repayments either daily or weekly. These are automatically deducted from your company account.
Protecting your information, and being clear about the ways we gather the information we collect, use, share and safeguard your data, is vital and an integral aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to security for our clients and security. We make use of an advanced bank verification system link to instantly verify the bank account details online so we can offer rapid response.
Asset-based borrowing occurs when a business owner makes use of an asset they own to secure the funds for a loan. The asset can be an individual asset, such as the family home, or it could be a business asset such as a vehicle or piece of equipment.
The vast majority of banks, not just the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan, then your asset may be transferred to the lender. In essence it’s a way of securing new funding using the value of what you already own.
For loans of up to $150K, it is not necessary to secure assets upfront to access the money however, we require a personal guarantee. require an individual guarantee. If you adhere to the loan terms (as stated in your loan contract) Asset security will never be needed. For loans of over $150K typically, you will need the option of a personal ensure and security that is in the form the charge of assets.
