The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Find out the guidelines for eligibility for our $100K-$500K company loans.
All that’s required for starting is your contact details (the name of your company, your name, email, phone) as well as the amount you’d like to borrow and your monthly earnings.
During the process and before settlement we will require confirmation of your identity but not before we can begin:
After we start, for loans greater than $150,000 you will also require fundamental financial statements:
Let’s get started now.
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.
It is possible to apply to your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and funds may be on your account within 24 hours. Traditional company loans refer to an annual rate of interest plus other fees and charges. Our company loan is an upfront priced loan and you’ll be aware in advance of the total amount payable including any fees, charges or charges. This is then broken down into either a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost every company purpose including managing cash flows, company improvements, advertising to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
To qualify for a loan that is this large, your business needs to have been operating for at least three years, and have an annual income of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Business Loan of a larger size can be used for almost any company need, including business renovations, to purchase equipment or inventory or as general working capital and much more. The loan cannot be used for personal purposes.
Asset security is necessary for funding of more than $150,000. This is by way of charge against assets, which could also include registering this on the PPSR or the registration of a caveat.
A director’s or personal ensure is a guarantee to pay back a loan that is general in nature rather than specifying security over an asset. The person who is signing the guarantee is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a security interest that is registered.
An affidavit is an official document filed to provide an official notice of a claim to property.
If you’re applying for a Larger Business Loan that exceeds $250K we may be able to provide an initial pre-approval to make the process. We might be able to make this decision without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves the answer to a series of financial well-being questions. It is neither an offer nor a guarantee of funds. A conditional approval is subject a full credit assessment and any offer you receive could have different terms.
You may apply for an company loan if you:
The application process is fast and simple. Complete the online form within a couple minutes, and a dedicated business expert in lending will call you to assist you.
For a loan of up to $100,000, you’ll require identification details (valid Driver’s License) as well as a valid NZBN/IRD as well as at least six months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent as well as 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, plus interim financials for the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within an hour – as long as you apply in standard business hours and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements we can provide a decision within one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be capable of offer you with a conditional pre-approval within about 6 hours. Once you’ve 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 transactions have received approval in the space of 24 hours.
The quickest way to apply is to make sure you apply during normal company hours and allow us to use our modern bank verification link to instantly check your bank’s information online. If you opt to send us duplicates of your banking statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer within one hour if you make your application at standard business time and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to submit copies of your bank statement, we’ll offer an answer in as little as an business day.
For Larger Business Loans ($100K up to $500,000) We may be likely to provide you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however it could be faster based upon the circumstances for each application. Some transactions have received approval in 24 hours.
The fastest method would be to ensure you apply during standard business hours. You can also allow us to use our advance bank verification link to instantly confirm your bank details online. If you upload documents from your account statements, it takes a bit longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a specific amount we look at a variety of aspects for determining the health that is your company as well as the amount of repayments your business can support. The total amount of your loan will be contingent on the specifics the business.
If you apply for a certain amount, we take into consideration a variety of elements to assess your health that is your business as well as the amount of repayments that your company can support. The total amount of your loan will be determined by the particular circumstances the business.
When you apply for one of our company loans, we’ll assess the risk assessment the business and offer an individualised offer that includes loan amount, term and the interest rates. It is a business loan is an upfront cost loan which means you know in advance the total amount you will have to pay, including charges or interest.
Interest rates for business loans rates vary due to variables like the amount to be that is borrowed, what company assets the money are used to purchase in addition to the industry that the company is operating in, how long the company has been in operation for, in the event that the business has enough cash flow to support the loan, and the overall well-being and creditworthiness of the business.
There are no hidden costs for our company loans. You’ll know exactly how much you need to pay, and when, from the first day. There’s not any compounding interest and no extra fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You are able to get a cash loan with with no upfront cost or the obligation to take action.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can choose to repay the entire amount of the loan early at any time.
If you are deciding to take this route, please talk to one of our helpful company loans specialists. We will provide you with repayment details and an early payout figure. This is calculated as the total of the principal amount remaining plus any accrued interest as of the time of the early payout in addition to 1.5 percent of the principal amount remaining and any outstanding fees.
To make sure you do not miss due dates and also to be in line with your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your designated company account.
Making sure that your information is secure, and being clear about how we collect information, use it, and exchange it, as well as secure your information, is of huge importance and an integral element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our customers and security. We make use of an advanced banking verification system to immediately confirm your bank account information online so we can provide quick responses.
Asset-based borrowing is when the company owner uses an asset that they own to make the funding. The asset may be an individual property, such as the family home, or a company asset like a truck or piece or equipment.
The majority of banks, even the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan then your assets could be sold by the lender. In essence it is an opportunity to secure new financing using the value of what you already own.
Up to $150,000 in loans no asset security is required in advance to gain access to the funds, however we do require a personal guarantee. So long as you comply with your loan commitments (as stated in your loan contract document) Asset security will never be required. For loans over $150K generally there is the option of a personal guarantee and security in the form of charges on assets.
