The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K business loan.
All you need for starting is your contact details (company name and your name, as well as email, phone) as well as the amount you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
Once we’ve started, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
You can apply to get the Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and the money could be available in just 24 hours. Traditional business loans are based on an annual interest rate together with additional fees and charges. This business loan is a pre-paid loan and you’ll be aware in advance of the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into a daily or weekly installment amount.
A Small Business Loan can be used for nearly every business reason, such as managing cash flows, company renovations, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available 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 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large the company needs to be operating for a minimum of 3 years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A large company loan can be used to fund almost any company need, including company remodeling, buying new equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This can be done by way of charge on assets and can include registration in the PPSR or filing a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature, rather than defining security over an asset. The person who signs the guarantee is personally responsible if the company borrower is unable to repay 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 items or assets). The PPSR grants 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 form of document to offer notice of a legal claim on a property.
If you’re seeking larger business loans that exceeds $250K it is possible to offer a preliminary pre-approval to help smooth out the process. We might be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes the answer to a series of financial health checks. It is not an offer of credit or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you receive could be on different conditions.
You may be eligible for an company loan if you;
The process for applying is fast and simple. Complete the online form within a couple minutes, and an experienced business loan specialist will call you to help you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent twelve months of bank records, IRD statements as well as the two most recent years’ financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) We can usually offer an answer within one hour if you make your application during standard business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your banking statement, we’ll provide the decision within 1 company day.
For the Larger Business Loan ($100K to $500K) we may be capable of provide you with pre-approval conditional to your application within about six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Some offers have been approved within just 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours, and allow us to use the advance bank verification link to instantly verify your bank information online. If you choose to upload the copies of bank statements , it takes a bit longer.
For the Small Business Loan ($5K and up) we usually provide an answer within an hour – provided you apply at standard business time and let us make use of the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statement, we’ll offer the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be in a position to offer the conditional pre-approval in about six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Some transactions have received approval in the space of 24 hours.
The fastest method is to make sure you apply during standard business hours and let us use the advance bank verification to instantly confirm your bank details online. If you opt to upload documents from your account statements, it may take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a specific amount we take into consideration a range of aspects to determine the health of the company and the level of repayments your company can afford. The total amount of the loan will be determined by the specifics that are unique to your company.
When you make an application for a set amount, we take into consideration a variety of elements to assess the well-being of your company as well as the amount of repayments your business can support. The total amount of your loan will depend on the specific circumstances for your company.
When you apply for business loans with us business credit, we will assess the risk assessment for your company and provide you with a customised offer, including loan amount, term and the interest rates. This business loan is a loan that is priced upfront so you will be aware of the total amount you will have to pay, including charges or interest.
Interest rates for business loans rates depend on a variety of factors including the amount that is borrowed, what company assets the funds will be used for, the industry the company is operating in, how long the company is in operation for, whether the company has sufficient cash flow to support the loan, and general health and creditworthiness of the company.
There are no hidden costs for our business loans, and you’ll be aware of the amount you’ll be required to pay, and at what time, from the first day. There’s not any compounding interest and no extra fees (as as long as you pay your payments on time).
We don’t charge an application fee. You are able to request a credit loan with without any upfront costs or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can repay all of your loan early at any time.
If you do decide to pursue this option, please speak to our friendly business loan specialists. They’ll provide you with repayment details and an early payout figure. It will be calculated using the sum of the principal amount remaining and accrued interest to the time of early payment plus 1.5% of the principal remaining as well as any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from your business account.
Security of your data, and making it clear the ways we gather information, use it, and exchange it, as well as protect your information, is of huge importance and is a crucial part of our relationship you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We use an advanced bank verification system to instantly verify your bank account information online, allowing us to offer rapid response.
Asset-based borrowing is when a company owner utilises an asset that they own to make a loan. The asset could be an individual property, such as the family home or it could be a company asset like a truck or piece or equipment.
The majority of the lenders even the big banks, tend to guarantee loans against an asset. If you have trouble paying back the loan, then the asset might be taken over by the lender. In essence, it is a way of securing new funding using the value of what you already have.
For loans up to $150,000 no asset security is required upfront to access the money, however we do require the personal guarantee. If you adhere to the terms of your loan (as detailed in your loan contract) Asset security will never be needed. If you take out loans in excess of $150,000 generally, you can get an individual guarantee and security in the form a charge over assets.
