The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K company loans.
All that’s required to start is your contact details (the name of your company, your name, email address or phone number) and the amount you’d like to lend, and your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
In addition, once we have started with loans of more than $150,000 you will also require basic financial statements:
Let’s get started now.
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.
It is possible to apply to the Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. Our business loan is a cash-based loan therefore you’ll know ahead of time the total amount to be paid, including any interest, fees or charges. Then, it is divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually any business use, including cash flow management, business remodels and marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on your situation.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To be eligible for a credit in this amount the company needs to have been trading for at least 3 years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger business loan can be used for nearly every business purpose including company renovations, purchase of inventory or new equipment as well as for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. This is by way of charge against assets, and could be registered with the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to repay a loan which is general in nature rather than stating security over an asset. The person who is signing the ensure is personally liable if the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated 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 assigned depending on the date that a security interest was registered.
An affidavit is an official document filed to offer notice of a legal claim to property.
If you’re applying for the Larger Business Loan that exceeds $250,000, we may offer an initial pre-approval in order to ease the process. We might be able to make this decision without a credit verification and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes you answering some financial health questions. This is not an offer or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer that you are offered could be based on different terms.
You can apply for an company loan if you;
The application process is simple and easy. Just fill out the online application within a few minutes and an experienced company loan specialist will call you to guide you through the process.
For a loan of up to $100,000 you’ll need the right identification documents (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details of the application, including credit consent, 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically provide an answer in just one hour if you submit your request in quality company time and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statement, we’ll offer a decision within just an business day.
For the Larger Business Loan ($100K and up) we may be able to offer you with conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, it could be faster based upon the circumstances for each application. Some deals have been approved within 24 hours.
The fastest way is to ensure you apply during normal business hours. Also, permit us to use the advanced bank verification system to confirm your bank details online. If you opt to upload the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within an hour, provided 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 want to submit copies of your bank statements, we’ll be able to offer the decision in as little as an business day.
For Larger Business Loans ($100K or more) we could be in a position to offer you with a conditional pre-approval in 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 upon the circumstances for each application. Some deals have been approved within just 24 hours.
The most efficient method is to make sure you apply during normal business hours. You can also let us use the advance bank verification to instantly verify your bank account information online. If you upload duplicates of your banking statement, it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you submit an application for a specific amount we take into consideration a range of factors to determine what is the health of your business as well as the amount of payments your business will be able to support. The total amount of the loan will be determined by the specifics for your company.
When you submit an application for a certain amount, we will consider a number of aspects to determine the health of your company and the amount of repayments that your business can afford. The total amount of your loan will be determined by the particulars the business.
If you decide to apply for our company financing, we’ll assess the risk profile that you have for your company and provide you with a tailored offer including the loan amount, the terms and the interest rates. The company loan is an upfront cost loan so you will be aware in advance of the total amount to be paid, including any charges or interest.
Business loan interest rates depend on a variety of factors including the amount borrowed, what company assets the money will be used for, the industry the company is operating in, how long the company has been in operation and what percentage of the business has enough cash flow to fund the loan, and the general well-being or financial standing of the business.
There aren’t any hidden charges for our company loans. You’ll know precisely what it is that you be required to pay and when, right from the very first day. There’s no compounding and the loan comes with no additional fees (as long as you make your payments in time).
We don’t charge an Application Fee. You can make an application for loans without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You can choose to repay all of your loan in full at any time.
If you choose to take this route, please speak to our friendly company loans professionals. They’ll provide you with the details of your repayment along with an early payout estimate. It will be calculated using the total of the principal amount remaining plus any accrued interest as of the time of early payment plus 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we provide repayments either daily or weekly. They are automatically deducted from the nominated company account.
The security of your personal information, as well as 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 aspect of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system link to immediately verify your bank account information online, allowing us to offer rapid response.
An asset-based loan is when a company owner borrows from an asset they own to get the funding. The asset can be an asset belonging to the personal, like the family home or it could be a company asset such as a vehicle as well as a piece of machine.
The majority of banks, even the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan, your asset may be sold by the lender. In essence it is an opportunity to secure new financing taking advantage of the value of what you already have.
For loans of up to $150K, it is not necessary to secure assets before you are able to access the money however, we do require the personal guarantee. As long as you follow the loan terms (as specified in the loan contract) the security of assets will never be required. For loans over $150,000 generally, you are able to get personal ensure and security in the form of the charge of assets.
