The eligibility requirements for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Do you need more money? Check out the conditions of eligibility for our $100K to $500K business loans.
All that’s required for starting is your contact information (company name, your name, email and telephone) as well as the amount you want to borrow, and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are but not to get started:
Once we’ve started, for loans greater than $150,000 you’ll require basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply for this Small Business Loan in under 10 minutes by phone. You will receive an instant response and the funds could be on your account within 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. This business loan is a pre-paid loan so you will be aware of the total amount payable including the interest, fees and charges. Then, it is broken down into either weekly or daily payment amount.
A Small Business Loan can be used for virtually any business reason, such as control of cash flow business improvements, advertising for purchasing inventory or new equipment, as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on your situation.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the loan amount.
To qualify for a loan that is this large the business needs to have been operating for at least three years, and have an annual income of at least $700,000. The applicant must also 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 to prove at least 12 months of trading.
A Larger Business Loan can be used to fund almost every business need, including business renovations, to purchase inventory or new equipment for general working capital and much more. The loan cannot be used for personal use.
Asset security is needed for accessing funds over $150,000. It’s by taking a charge against assets, and could include the registration of this through the PPSR or making a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature, rather than stipulating security over a particular asset. The person signing the guarantee is personally liable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including the assets or goods). The PPSR allows priority over personal property to be assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official form of document to provide the legal claim against a property.
If you’re seeking larger business loans that exceeds $250,000 we may be able to provide an initial pre-approval to ease the process. It is possible to make this decision without a credit verification and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial health questions. It is not an offer or guarantee of credit. Acceptance without condition is subject to an extensive credit evaluation and any offer that you might receive could be on different conditions.
You are eligible to apply for an company loan if you;
The application process is simple and simple. Just fill out the online application within a couple minutes, and an experienced company expert in lending will call you to guide you.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$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 twelve months bank statement, an IRD statements and the last two years’ finalised financial statements, as well as interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically provide an answer in just one hour, provided you make your application during standard business hours and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to send us copies of your bank statement, we’ll provide a decision within just the span of one company day.
For Larger Business Loans ($100K or more) we may be likely to provide you with a conditional pre-approval in around 6 hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The quickest method would be to make sure you apply during standard company hours. You can also permit us to use the advance bank verification to instantly confirm your bank details online. If you choose to send us documents from your account statements it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within an hour – provided you make your application in standard business time and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements, we are able to provide an answer in just an business day.
For the Larger Business Loans ($100K to $500K) we may be capable of provide you with a conditional pre-approval in about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Certain offers have been approved in 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours and allow us to use the advanced bank verification system link to verify your bank information online. If you upload the copies of bank statements, it will take a little longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a particular amount, we take into consideration a range of elements in order to assess your well-being that is your business as well as the amount of repayments that your business can afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your business.
If you apply for a certain amount, we look at a range of factors to assess your health that is your business and the amount of the repayments your company will be able to support. The total amount of the loan will be determined by the specific circumstances for your business.
When you apply for the company loans, we’ll assess the risk assessment the business and offer an individualised offer, including the loan amount, the terms and interest rates. A business loan is an upfront-priced loan therefore you will be aware in advance of the total amount due, which includes any charges or interest.
The interest rates on business loans rates vary due to factors such as the amount that is that is borrowed, what company assets the money will be used for as well as the field the business operates in, the long the business has been running for, how long the business has enough cash flow to fund the loan, and also the general well-being and creditworthiness of the business.
There are no hidden fees for our business loans. You’ll know precisely how much you be required to pay and at what time, from the first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with no upfront cost or the obligation to take action.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You may choose to pay back the entire amount of the loan at any point in time.
If you decide to do this please talk to one of our helpful company lending specialists. We will offer you with repayment details along with an early payout estimate. The figure will be calculated as the total of the principal remaining and the accrued interest up to the time of the early payout in addition to 1.5 percent of the principal remaining and any fees that remain unpaid.
To make sure you do not miss payments and to work with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your nominated company account.
Security of your data, and making it clear how we collect data, process, exchange and safeguard your data, is of paramount 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 commitment to protecting the security of clients and privacy. We use an advanced bank verification system to immediately confirm your bank account information online so we can offer rapid response.
Asset-based borrowing is when the business owner borrows from assets they own to secure the loan. The asset may be an individual asset, such as the family home, or it could be a company property like a truck or piece of equipment.
The vast majority of lenders, not just the major banks, prefer to guarantee loans against an asset. If you’re struggling to pay back the loan, then the asset might be taken over by the lender. In essence, it’s means of securing additional financing taking advantage of the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets before you can access the money but we do need the personal guarantee. If you adhere to the terms of your loan (as stipulated in your loan contract document) Asset security will never be required. If you take out loans in excess of $150K generally, there is the option of a personal guarantee and security that is in the form charges on assets.
