The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Do you need more money? Check out the eligibility requirements for our $100K to $500K company financing.
All you need to start is your contact details (the name of your company, your name, email address and phone), how much you want to borrow, and your monthly earnings.
During the process and before settlement we will require confirmation of your identity however, not in order to begin:
After we start with loans that exceed $150,000, you’ll require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply to the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an answer within the same day and the money could be on your account within 24 hours. Traditional business loans reference an interest rate per annum plus other fees and charges. Our business loan is a pre-paid loan therefore you’ll be aware in advance of the total amount due, which includes any fees, interest or charges. Then, it is broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for nearly any company use, including control of cash flow company remodels and marketing to purchase inventory or new equipment, or as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
A Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
To be eligible for a loan of this size the business needs to have been operating for at least three years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large business loan can be used to fund almost any business need, including company remodeling, buying inventory or new equipment or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. It’s as a result of an charge over assets, and could include the registration of this in the PPSR or the registration of as a caveat.
A director’s or personal ensure is a promise to pay off a credit line that is generally in nature rather than stating the security for a particular asset. The person who is signing the guarantee is personally liable if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a security interest that is registered.
The caveat can be described as a formal document lodged to offer the legal claim against a property.
If you’re applying for larger business loans that exceeds $250K we can offer an initial pre-approval in order to make the process. We might be able to get this done without a credit verification and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial well-being questions. It’s neither an offer nor a guarantee of funds. A conditional approval is subject a full credit assessment and any offer that you may receive may be on different terms.
You may apply for a company loan if you:
The application process is simple and simple. Simply complete the online form within a couple minutes, and a dedicated company loan specialist will call you to guide you.
To apply for up $100,000 you’ll need identification details (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) we usually offer an answer within one hour if you apply in quality company timings and allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your banking statements we can offer an answer in as little as an business day.
For Larger Business Loans ($100K up to $500,000) we might be capable of offer you with pre-approval conditional to your application in around 6 hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some deals have been approved within just 24 hours.
The quickest method would be to ensure you apply during standard company hours. Also, allow us to use our advance bank verification link to instantly verify your bank information online. If you decide to upload the copies of bank accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour – provided you apply in standard business hours and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you decide to submit copies of your bank statements we can offer an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be in a position to provide you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Certain deals have been approved in just 24 hours.
The fastest method would be to ensure you apply during normal business hours. Also, allow us to use the sophisticated bank verification link to instantly confirm your bank details online. If you opt to send us duplicates of your banking statements it may take a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a certain amount, we will consider a number of variables in order to assess how much we can lend you health for your company and the amount of the repayments your business will be able to support. The total amount of your loan will depend on the particular circumstances of your business.
When you submit an application for a specific amount we will consider a number of variables to determine your health for your business and the extent of the repayments your company will be able to support. The total amount of your loan will be contingent on the specific circumstances that are unique to your company.
If you decide to request our business financing, we will assess the risk profile for your company and offer you with a customised offer that includes the amount of loan, the term and the interest rates. This company loan is an upfront cost loan and you’ll be aware in advance of the total amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates vary due to factors like the amount of money borrowed, the company assets the money will be used for and the sector the company is operating in, how long the company has been in operation for, in the event that the company has enough cash flow to pay for the loan, and also the overall health as well as creditworthiness business.
There aren’t any hidden costs with our company loans, and you’ll be aware of the amount you’ll be required to pay, and when, from the very first day. There’s not any compounding interest and there are no additional charges (as as long as you pay your payments in time).
We don’t charge an application fee. You can apply for a loan with no upfront cost or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the entire amount of your loan early at any time.
If you are deciding to do this please speak to our friendly company lending specialists. The specialists will provide you with details on repayment and an early payment figure. It will be calculated using the sum of the principal balance and the accrued interest up to the date of early payout in addition to 1.5 percent of the remaining principal and any fees that remain unpaid.
To make sure that you don’t miss payment dates and to align with your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your business account.
The security of your personal information, as well as being clear about the ways we gather, use, exchange and protect your information, is of paramount importance and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system link to instantly verify your bank account information online, allowing us to offer a fast response.
The term "asset-based" refers to borrowing where the business owner makes use of assets they own to obtain the loan. The asset could be a personal asset like the family home or a business asset such as a vehicle as well as a piece of machine.
The vast majority of lenders, not just the big banks, tend to make loans secured by assets. If you have trouble paying back the loan then the asset could be offered for sale by the lender. In essence, it is means of securing new financing using the worth of the asset you already own.
For loans that exceed $150K, it is not necessary to secure assets before you can access the money, however we require a personal guarantee. need an individual guarantee. In the event that you fulfill your loan obligations (as stipulated in the loan contract), asset security is not needed. For loans over $150K generally, you can get an individual ensure and security in the form a charge over assets.
