The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K business financing.
All that’s required to begin is your contact details (company name, your name, email address and phone), how much you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity, but not for starting:
After we start in the process, for loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes online or by phone. You will receive a same day response and the funds could be on your account within 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. The company loan is an upfront priced loan therefore you’ll know in advance the total amount due, which includes any fees, charges or charges. This is then broken down into weekly or daily installment amount.
The Small Business Loan can be used for nearly every company purpose including cash flow management, business improvements, advertising to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range from $100,000 to $500,000 with a term fixed with a maximum of 36 months. The repayments are made weekly or fortnightly to work with your situation.
It is important to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To qualify for a loan in this amount the company needs to be operating for a minimum of 3 years and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A Business Loan of a larger size can be used for nearly every business need, including business improvements, purchasing new equipment or inventory as well as for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s in the form of a charge over assets, and may include registering this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is general in nature, rather than defining security over a particular asset. The person who is signing the guarantee is personally responsible if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It records security interests that have been that are registered for personal property (including items or assets). The PPSR permits the priority of personal property assigned according to the date a registration of a security interest.
Caveats are legal document lodged to provide the public notice of a legal claim to property.
If you’re applying for the Larger Business Loan of $250K or more we can offer an initial pre-approval to smooth out the process. It is possible to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial well-being checks. This is neither an offer nor a guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer you might receive could be subject to different conditions.
You may be eligible for a business loan if you;
The process for applying is fast and easy. Just fill out the online application within a few minutes and a dedicated company expert in lending will contact you to help you.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License) and a valid NZBN/IRD as well as at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Application details including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often provide an answer within an hour if you make your application in standard business hours and permit us to utilise the bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements , we will be able to provide a decision in just 1 company day.
For Larger Business Loans ($100K to $500K) we might be able to offer you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be quicker based on the particular circumstances of each application. Certain deals have been approved in just 24 hours.
The quickest way to apply is to make sure you apply during normal business hours. You can also allow us to use our advance bank verification link to instantly verify your bank information online. If you choose to upload the copies of bank statements it will take a little longer.
For the Small Business Loan ($5K and up) we typically offer an answer within one hour – as long as you submit your request during standard business time and permit us to use the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements we can provide a decision within 1 business day.
For Larger Business Loans ($100K or more) we could be in a position to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, it could be faster based on the specifics of each application. Some transactions have received approval in the space of 24 hours.
The fastest method is to ensure you apply during standard business hours. You can also let us use the advance bank verification link to confirm your bank details online. If you upload duplicates of your banking statements it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a particular amount, we look at a variety of elements for determining what is the well-being of your company and the level of the repayments your business can afford. The amount you receive from the loan will be determined by the specific circumstances for your company.
When you submit an application for a set amount, we will consider a number of factors to determine how much we can lend you such as health for your business as well as the amount of repayments your business will be able to support. The amount you receive from your loan will depend on the particular circumstances that are unique to your business.
When you apply for our business loans, we will assess the risk profile of your business and provide you with a tailored offer, including loan amount, term and interest rates. A 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.
The interest rates on company loans rates depend on several factors including the amount borrowed, the company assets the funds will be used for as well as the field the business operates in, how long the company is in operation and in the event that the business has sufficient cash flow to support the loan, and overall well-being as well as creditworthiness company.
There are no hidden fees with our company loans. You’ll be aware of the amount you’ll be required to pay, and when, from the day you sign up. There’s no compounding interest and no extra fees (as as long as you pay your payments in time).
We do not charge an Application Fee. You can apply for a loan no cost upfront or the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay all of your loan at any point in time.
If you decide to take this route, please talk to one of our helpful company lending professionals. They’ll provide you with the details of your repayment and an early payment figure. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payout plus 1.5 percent of the principal remaining and any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically withdrawn from your designated company account.
The security of your personal information, as well as knowing the ways we gather the information we collect, use, share and safeguard your data, is of huge importance and is a crucial aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We employ an exceptionally sophisticated bank verification system link to instantly verify the bank account details online so we can offer rapid response.
The term "asset-based" refers to borrowing where an business owner utilises an asset that they own to secure the funds for a loan. The asset can be an asset belonging to the personal, like the family home or it could be a business property like a truck or piece of equipment.
The vast majority of banks, even the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan then the asset might be transferred to the lender. In essence it is the process of securing new financing by using the value of what you already have.
For loans up to $150,000 the requirement for asset security is not required before you can access the money, however we require a personal guarantee. require a personal guarantee. In the event that you fulfill the terms of your loan (as specified in your loan contract) the security of assets will never be needed. For loans of over $150,000 typically, you will need an individual ensure and security that is in the form an asset charge.
