The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the eligibility requirements for our $100K-$500K business loans.
All that’s required to get started is your contact details (the name of your company, your name, email and phone) and the amount you want to borrow, and your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not to get started:
After we start in the process, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes via the internet or by phone. You will receive an instant response and funds may be in your account in 24 hours. Traditional company loans have an annual rate of interest together with additional fees and charges. This company loan is a loan that is priced upfront therefore you’ll be aware in advance of the total amount to be paid, including any interest, fees or charges. This is then broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost any business use, including control of cash flow business remodels and marketing to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal use.
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 with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on the flow of cash.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size, your business needs to have been trading for at least 3 years and generate an annual revenue of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Business Loan of a larger size can be used to fund almost every company need, 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 purposes.
Asset security is necessary for funding of more than $150,000. It’s by way of charge against assets, which could also include the registration of this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is generally based rather than stipulating security over a particular asset. The person who is signing the ensure is personally accountable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR gives priority over personal property to be granted in accordance with the date on which a security interest that is registered.
The caveat can be described as a formal document that is filed to provide the legal claim to property.
When you’re applying for larger company loans that exceeds $250K, we may offer an initial pre-approval to ease the process. We might be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial well-being checks. It’s neither an offer nor a guarantee of funds. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you are offered could be based on different conditions.
You may apply for a business loan if you;
The application process is simple and easy. Complete the online form within a few minutes and an experienced business loan specialist will be in touch to guide you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent, 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, and interim financials for the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour if you make your application within quality business hours and permit us to utilise the bank verification system link to instantly verify your bank information online. If you decide to upload copies of your banking statements we can offer an answer in just 1 business day.
For the Larger Business Loan ($100K to $500K) we may be in a position to provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, it could be faster based on the circumstances of each application. Some deals have been approved in less than 24 hours.
The quickest method can be ensure you apply during normal business hours, and allow us to use the modern bank verification to instantly verify your bank information online. If you opt to send us the copies of bank statement, it takes a bit longer.
For the Small Business Loan ($5K or more) we typically offer an answer within an hour if you make your application within standard business timings and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to submit copies of your bank statements we can offer a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we may be capable of offer you with conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be faster depending on the circumstances of each application. Certain offers have been approved within 24 hours.
The quickest method would be to ensure you apply during standard business hours, and allow us to use our modern bank verification to confirm your bank details online. If you decide to send us the copies of bank accounts, it will take a little longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a particular amount, we look at a variety of aspects for determining the well-being for your business and the extent of repayments that your business will be able to support. The total amount of the loan will be determined by the specific circumstances of your business.
When you submit an application for a specific amount we take into consideration a variety of elements to determine how much we can lend you such as well-being that is your company and the level of the repayments your company is able to afford. The amount you receive from your loan will be contingent on the specifics for your company.
If you decide to make an application for the company loans, we will assess the risk assessment that you have for your business and offer you with a customised offer, including the amount of loan, the term and interest rates. This business loan is a loan that is priced upfront so you will know the exact amount payable including any charges or interest.
Business loan interest rates differ based on various factors including the amount of money borrowed, the company assets the funds are used to purchase and the sector the business operates in, the long the company has been running and what percentage of the business has sufficient cash flow to fund the loan, and the overall well-being and creditworthiness of the business.
There are no hidden fees for our business loans. You’ll be aware of the amount you’ll need to pay and at what time, from the 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 request a credit loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this 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 early at any time.
If you do decide to do this please call our helpful company loans specialists. They will provide you with details on repayment along with an early payout estimate. The figure will be 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 remaining principal plus any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we offer repayments that are either weekly or daily. They 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 ensure the security of your information is of huge importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We use an advanced bank verification system to immediately verify your bank account information online to provide a fast response.
An asset-based loan is when an company owner makes use of the assets they have to secure the funds for a loan. The asset can be a personal asset like the family home, or an company asset such as a vehicle or piece or equipment.
The majority of banks, not just the largest banks, are inclined to make loans secured by assets. If you’re struggling to pay back the loan then the asset could be offered for sale by the lender. In essence it is the process of securing additional financing using the worth of the asset you already have.
For loans up to $150K the requirement for asset security is not required upfront to access the money but we require a personal guarantee. require a personal guarantee. In the event that you fulfill the loan terms (as specified in the loan contract) Asset security will never be required. For loans of over $150,000 generally, you can get personal ensure and security in the form a charge over assets.
