The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Do you need more money? Find out the eligibility requirements for our $100K-$500K business credit.
All that’s required to start is your contact information (company name, your name, email and phone) and the amount you want to borrow, and your monthly revenue.
During the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
After we start with loans that exceed $150,000, you will also need basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
The application to this Small Business Loan in under 10 minutes on the internet or by phone. You will receive an instant response and the funds could be in your account within 24 hours. Traditional company loans have an interest rate per annum together with additional fees and charges. This business loan is a cash-based loan therefore you’ll know in advance the amount you will have to pay, including 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 for virtually any company use, including cash flow management, business remodels and marketing, to purchase inventory or new equipment, for general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly, depending on your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your business needs to have been in operation for at least 3 years and generate an annual revenue of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Larger Business Loan can be used for nearly every business reason, such as company renovations, to purchase inventory or new equipment for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is needed for funding of more than $150,000. This is in the form of a charge on assets, and may be registered with the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is general in nature rather than stipulating the security for a particular asset. The person signing the guarantee is personally liable in the event that the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date a security interest has been registered.
Caveats are legal form of document to offer the public notice of a legal claim to a property.
If you’re applying for larger company loans that is greater than $250K it is possible to offer an initial pre-approval in order to smooth out the process. We could be able to apply for this without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being questions. This is not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you are offered could have different conditions.
You are eligible to apply for an company loan if you:
The application process is simple and easy. Simply complete the online form within a few minutes and an experienced company credit specialist will be in touch to assist you.
For a loan of up to $100,000, you’ll need ID details (valid Driver’s Licence) and a valid NZBN/IRD and at least 6 months of bank statements.
In addition, 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 – $500K: Details for application including credit consent as well as 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically offer a response in one hour – as long as you make your application within quality business hours and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you decide to send us copies of your bank statement, we’ll offer the decision within just the span of one company day.
For Larger Business Loans ($100K and up) we could be able to offer you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Some transactions have received approval within less than 24 hours.
The quickest method would be to ensure you apply during normal company hours and allow us to use our modern bank verification link to verify your bank information online. If you opt to send us copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer in just one hour, provided you make your application during standard business time and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements, we’ll be able to offer a decision within 1 business day.
If you are applying for Larger Business Loans ($100K and up) we may be in a position to offer you with a conditional pre-approval within six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be faster depending on the particular circumstances of each application. Certain agreements have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours and allow us to use the advanced bank verification system to instantly verify your bank account information online. If you decide to send us copies of your bank statement, it may take a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount we consider a variety of elements for determining how much we can lend you well-being that is your business as well as the amount of repayments that your business can support. The total amount of your loan will depend on the particular circumstances of your company.
When you submit an application for a specific amount we look at a range of aspects to determine your well-being for your business and the extent of repayments your company can afford. The total amount of your loan will depend on the specifics the company.
When you request one of our company loans, we will assess the risk profile the company and provide you with a customised proposal that includes the amount of the loan, the duration and the interest rates. This company loan is a loan that is priced upfront and you’ll be aware of the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors like the amount of money borrowed, what company assets the funds will be used for in addition to the industry that the business operates in, how long the business has been operating as well as whether the company has sufficient cash flow to pay for the loan, as well as the overall well-being or creditworthiness of the company.
There are no hidden fees with our business loans, and you’ll be aware of the amount it is that you be required to pay, and when, right from day one. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments punctually).
We do not charge an Application Fee. You can get a cash loan without any upfront costs or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can decide to repay the entire amount of your loan early at any time.
If you are deciding to pursue this option, please speak to our friendly business loans professionals. The specialists will offer you with details on repayment and an early payment figure. It will be calculated using the sum of the principal balance and accrued interest to the date of early payout and 1.5 percent of the remaining principal and any fees that remain unpaid.
To make sure you do not miss repayments and to fit in with your cash flow routine, we offer repayments that are either weekly or daily. These are automatically deducted from your nominated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and secure your information, is of paramount importance and an integral part of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to security for our customers and security. We use an advanced bank verification system that allows you to instantly verify your bank account details online to offer rapid response.
An asset-based loan is when an business owner uses an asset that they own to secure a loan. The asset may be an individual asset, such as the family home or an company property like a truck or piece of equipment.
The vast majority of the lenders even the big banks, tend to make loans secured by an asset. If you are having difficulty paying back the loan, the asset could be sold by the lender. In essence it’s a way of securing new financing using the worth of the asset you already have.
For loans up to $150,000 there is no requirement for asset security prior to the loan’s access However, we require a personal guarantee. require the personal guarantee. So long as you comply with the loan terms (as specified in your loan contract) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150,000 generally there is a personal guarantee and security in the form the charge of assets.
