The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the eligibility requirements for our $100K to $500K company credit.
All you need for starting is your contact details (the name of your company, your name, email and phone), how much you’d like to lend, as well as your monthly income.
While in the process and before settlement we’ll need confirmation of who you are, but not for starting:
In addition, once we have started when it comes to loans greater than $150,000 you will also need basic financial statements:
Let’s get started now.
Brisbane unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get a same day response and the money could be available in just 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. We offer a company loan is a loan that is priced upfront so you will be aware of the total amount due, which includes any interest, fees or charges. This is then broken down into either weekly or daily amount to be paid back.
It is a Small Business Loan can be used to fulfill almost any business need, such as cash flow management, business renovations, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
To qualify for a loan of this size the business needs to have been in operation for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A larger business loan can be used for nearly all business need, including company improvements, purchasing equipment or inventory as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. This can be done as a result of an charge against assets, which could also be registered through the PPSR or making a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is generally in nature rather than defining the security of a specific asset. The person who is signing the guarantee is personally accountable if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR gives the priority of personal property assigned depending on the date that a registration of a security interest.
An affidavit is an official document filed to offer notice of a legal claim to property.
If you’re requesting larger company loans of $250K or more it’s possible to offer an initial pre-approval in order to smooth out the process. It is possible to apply for this without credit checks and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves answering a couple of financial well-being checks. This is neither an offer nor a guarantee of finance. The approval of a conditional loan is subject to a full credit assessment and any offer that you might receive could have different terms.
You may be eligible for a company loan if you;
The application process is fast and easy. Just fill out the online application in just a few minutes, and an experienced company credit specialist will contact you to assist you.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s License), a valid NZBN/IRD and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we typically offer an answer within an hour – as long as you apply within quality company time and permit us to utilise the bank verification system link to instantly verify your bank information online. If you choose to submit copies of your bank statements , we’ll be able to offer a decision in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K and up) we might be in a position to offer you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this may be quicker depending on the specifics of each application. Some agreements have been approved in less than 24 hours.
The quickest way to apply can be make sure you apply during normal company hours. You can also permit us to use the modern bank verification link to verify your bank account information online. If you opt to send us duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K or more) we can often provide a response in one hour, provided you submit your request in standard business hours and permit us to use the bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statements we can offer a decision in just 1 business day.
If you are applying for Larger Business Loans ($100K and up) we may be likely to offer you with a conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The most efficient method would be to ensure you apply during normal business hours. Also, permit us to use the sophisticated bank verification to verify your bank information online. If you decide to upload documents from your account statement, it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a particular amount, we take into consideration a range of aspects to determine how much we can lend you health that is your business and the amount of repayments your company will be able to support. The amount you receive from your loan will be contingent on the specifics of your company.
If you apply for a certain amount, we look at a range of aspects to determine your health for your company and the amount of repayments that your business can afford. The amount you receive from your loan will be determined by the particular circumstances of your business.
When you apply for business loans with us business loans, we will assess the risk assessment that you have for your business and provide you with a customised offer including the loan amount, the terms and the interest rates. It is a business loan is an upfront priced loan so you will know the exact amount payable including any costs, fees, or interest rates.
The interest rates on company loans rates depend on several factors like the amount of money borrowed, what business assets the funds will be used for in addition to the industry that the company operates in, how long the company is in operation for, what percentage of the company has enough cash flow to fund the loan, as well as the general health or creditworthiness of the company.
There are no hidden fees for our company loans. You’ll know exactly how much you’ll be required to pay, and when, right from the first day. There’s no compounding and there are no additional charges (as long as you make your payments on time).
We don’t charge an Application Fee. You can get a cash loan absolutely no upfront cost and no commitment to apply.
The Origination Fee includes the expenses associated in 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 total amount of your loan at any point in time.
If you do decide to pursue this option, please speak to our friendly business credit professionals. They’ll offer you with details for repayment and an early payout figure. This will be calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payout and 1.5 percent of the principal amount remaining and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your nominated business account.
Protecting your information, and knowing the ways we gather the information we collect, use, share and secure your information, is vital and an integral element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We make use of an advanced bank verification system to immediately verify your bank account information online so we can provide an immediate response.
An asset-based loan is when a company owner uses the assets they have to obtain the funding. The asset can be a personal asset like the family home or it could be a company asset such as a vehicle or piece or equipment.
The majority of banks, not just the banks with the biggest size, prefer to secure loans against assets. If you’re struggling to pay back the loan, then your asset may be sold by the lender. In essence, it’s an opportunity to secure additional financing taking advantage of the value of what you already own.
For loans of up to $150,000, it is not necessary to secure assets before you can access the money however, we do require an individual guarantee. In the event that you fulfill your loan commitments (as detailed in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150K, generally, you are able to get an individual guarantee and security that is in the form charges on assets.
