The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K company loan.
All that’s needed to get started is your contact information (company name and your name, as well as email and phone) along with the amount you’d like to borrow, and your monthly revenue.
Through the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
Apply to your Small Business Loan in under 10 minutes via the internet or by phone. You will receive an instant response and the funds could be in your account within 24 hours. Traditional company loans reference an interest rate per annum together with additional fees and charges. The company loan is an upfront priced loan and you’ll know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for nearly any company reason, such as the management of cash flow, business renovations, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. The repayments are made weekly or fortnightly, depending on your situation.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the business needs to be operating for at least three years, and have an annual income of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A large business loan is a great option for almost any business use, including business renovations, purchase of new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. This is by way of charge on assets and can include the registration of this on the PPSR or filing a caveat.
A director’s or personal guarantee is a promise to repay credit that is generally in nature rather than specifying security over an asset. The person who is signing the ensure is personally accountable if the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are that are registered for personal property (including items or assets). The PPSR allows the priority of personal property granted according to the date a security interest was registered.
A caveat is a legal form of document to offer the legal claim to property.
If you’re requesting an enterprise loan that is greater than $250K it is possible to offer an initial pre-approval in order to simplify the process. It is possible to get this done without a credit verification and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being questions. This is neither an offer nor a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you receive could have different terms.
You may be eligible for a company loan if you:
The application process is quick and easy. Simply complete the online form within a couple minutes, and a dedicated business expert in lending will contact you to guide you through the process.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$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: Information on the application including credit consent and 12 months bank statement, an IRD statement, last 2 years finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually offer an answer within one hour if you make your application in quality company times and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can offer an answer in as little as an business day.
If you are applying for a Larger Business Loan ($100K or more) we may be capable of provide the conditional pre-approval in about six hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, it could be faster based on the particular circumstances of each application. Some transactions have received approval within just 24 hours.
The quickest way to apply is to ensure you apply during normal business hours. You can also allow us to use our advanced bank verification system to instantly check your bank’s information online. If you choose to upload duplicates of your banking statement, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer a response in one hour – as long as you apply within normal business time and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to submit copies of your bank statements, we will be able to offer the decision in just an business day.
For the Larger Business Loans ($100K up to $500,000) we may be able to provide the conditional pre-approval in about six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this can be faster depending on the particular circumstances of each application. Some agreements have been approved in less than 24 hours.
The most effective method can be ensure you apply during normal business hours, and allow us to use our modern bank verification to instantly verify your bank account information online. If you opt to send us documents from your account statements it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. When you make an application for a particular amount, we take into consideration a range of factors to determine what is the well-being of the company and the amount of repayments that your business is able to afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your business.
When you submit an application for a particular amount, we look at a range of variables to determine how much we can lend you such as health of the business and the amount of the repayments your business can support. The amount you receive from your loan will be determined by the specific circumstances the company.
When you make an application for the business loans, we’ll assess the risk assessment that you have for your business and provide you with a customised proposal that includes loan amount, term and the interest rates. It is a business loan is an upfront cost loan which means you know the exact amount you will have to pay, including costs, fees, or interest rates.
Interest rates for business loans rates differ based on various variables like the amount to be borrowed, the company assets the money will be used for and the sector the company operates in, how long the company has been running as well as whether the business has enough cash flow to fund the loan, and also the general well-being or financial standing of the company.
There are no hidden fees with our business loans, and you’ll know precisely how much it is that you need to pay, and at what time, from the very first day. There’s no compounding interest and no extra fees (as as you make your payments in time).
We don’t charge an Application Fee. You can apply for a loan absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the total amount of your loan in full at any time.
If you decide to do this please speak to our friendly business loan experts. They’ll provide you with the details of your repayment as well as an early payout amount. This is calculated as the sum of the principal balance and any accrued interest at the date of early payout in addition to 1.5% of the principal remaining plus any outstanding fees.
To make sure that you don’t miss payment dates and to align your cash flow cycle we provide payments that are either weekly or daily. They are automatically deducted from the nominated business account.
Security of your data, and making it clear the ways we gather data, process, exchange and protect your information, is of paramount importance and a vital part of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We employ a highly sophisticated bank verification system to immediately verify your bank account details online, allowing us to offer a fast response.
Asset-based borrowing is when an company owner uses the assets they have to secure a loan. The asset can be either a personal asset like the family home or a company asset such as a vehicle as well as a piece of machine.
The majority of lending institutions, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan, then your asset may be offered for sale by the lender. In essence it’s a way of securing new funding using the worth of the asset you already own.
For loans up to $150K the requirement for asset security is not required prior to the loan’s access but we do need an individual guarantee. So long as you comply with your loan commitments (as detailed in your loan contract document), asset security is not needed. For loans of over $150K typically, you will need an individual guarantee and security in the form the charge of assets.
