The eligibility requirements 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 to $500K company loan.
All that’s required to begin is your contact information (company name, your name, email address or phone number) along with the amount you’d like to borrow, as well as your monthly income.
In the course of the process and before settlement we will need confirmation of who you are, but not before we can begin:
Additionally after we get started in the process, for loans greater than $150,000 you will also need basic financial statements.
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Brisbane unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and have the funds on your account within 24 hours. Traditional company loans have an annual rate of interest as well as other fees and charges. Our company loan is an upfront priced loan which means you know in advance the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into either a daily or weekly repayment figure.
It is a Small Business Loan can be used for almost any company use, including the management of cash flow, business remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To be eligible for a loan that is this large the business needs to be trading for at least 3 years and generate an annual revenue of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A large company loan can be used for nearly every business need, including company renovations, purchase of inventory or new equipment as well as for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This can be done as a result of an charge against assets, and may include the registration of this on the PPSR or registering a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature, rather than stating the security of a specific asset. The person signing the ensure is personally accountable if the business borrower 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 records security interests that have been that are registered for personal property (including objects or assets). The PPSR permits the priority of personal property granted according to the date the security interest was registered.
A caveat is a legal document filed to provide an official notice of a claim to a property.
If you’re applying for the Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval to smooth out the process. We might be able to apply for this without credit checks and within six hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial well-being checks. It’s neither an offer nor a guarantee of finance. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could be based on different conditions.
You may be eligible for a company loan if you:
The process for applying is fast and easy. Just fill out the online application in few minutes and a dedicated company expert in lending will call you to help you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent as well as 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we usually offer a response in one hour, provided you submit your request within standard business timings and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your banking statements , we’ll be able to offer a decision within one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be in a position to provide the conditional pre-approval within about 6 hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this may be quicker depending upon the circumstances for each application. Some offers have been approved within less than 24 hours.
The quickest way to apply for you to apply is make sure you apply during normal business hours, and permit us to use the advance bank verification to verify your bank information online. If you upload duplicates of your banking statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer in just one hour – provided you apply at normal business times and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you opt to upload copies of your banking statements, we will be able to offer an answer within an business day.
For Larger Business Loans ($100K or more) we may be able to offer you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, it could be faster based upon the circumstances for each application. Certain agreements have been approved in 24 hours.
The quickest method is to ensure you apply during standard business hours and let us use the advance bank verification to instantly verify your bank 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 to $500,000. When you submit an application for a certain amount we take into consideration a range of aspects for determining the health for your company and the amount of repayments that your company will be able to support. The amount you receive from your loan will depend on the specifics that are unique to your company.
When you apply for a set amount, we consider a variety of variables to assess how much we can lend you such as health for your business and the level of repayments your business can afford. The total amount of your loan will be determined by the particular circumstances that are unique to your company.
If you decide to request business loans with us business loans, we will assess the risk assessment that you have for your business and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. A company loan is an upfront cost loan therefore 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 such as the amount that is that is borrowed, what company assets the funds are used to purchase in addition to the industry that the company operates in, how long the company has been running for, whether the company has sufficient cash flow to fund the loan, and overall health and creditworthiness of the company.
There aren’t any hidden charges with our business loans, and you’ll know exactly how much you’ll need to pay, and when, starting from day one. There’s no compounding interest and no extra fees (as long as you make your payments on time).
We don’t charge an Application Fee. You are able to make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can decide to repay all of your loan in full at any time.
If you decide to take this route, please talk to one of our helpful company loan professionals. The experts will provide you with details on repayment and an early payout figure. The figure will be calculated as the total of the principal balance and any accrued interest at the time of early payout, plus 1.5% of the principal remaining and any outstanding fees.
To make sure that you don’t miss payments and to work with your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from the nominated business account.
Protecting your information, and knowing how we collect, use, exchange and ensure the security of your information is crucial and a vital part of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and security. We employ a highly sophisticated bank verification system that allows you to instantly verify your bank account details online. This allows us to offer a fast response.
Asset-based borrowing is when an company owner utilises the assets they have to get a loan. The asset can be an individual asset, such as the family home or it could be a business asset such as a truck or piece of equipment.
The majority of lending institutions, including the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan then the asset might be offered for sale by the lender. In essence it is means of securing new funding using the value of what you already have.
For loans of up to $150,000, no asset security is required upfront to access the money however, we do require an individual guarantee. If you adhere to the terms of your loan (as stated in the loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150,000 typically, you will need a personal guarantee and security in the form an asset charge.
