The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K business credit.
All you need for starting is your contact information (company name, your name, email or phone number) along with the amount you’d like to lend, and your monthly earnings.
During the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
Once we’ve started, for loans of more than $150,000 you’ll 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 month and cash flow friendly repayments that are either per day or weekly.
You can apply to the Small Business Loan in under 10 minutes over the phone, receive a same day response and the money could be in your account in 24 hours. Traditional company loans are based on an annual interest rate along with other charges and fees. The business loan is a pre-paid loan which means you know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost any company use, including the management of cash flow, business improvements, advertising to purchase inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit that is this large the business needs to be in operation for at least 3 years, and have an annual income of $700K. You must be 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 demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly all company need, including business renovations, purchase of equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. It’s in the form of a charge over assets, and could include the registration of this on the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature rather than stating security over a particular asset. The person signing the ensure is personally liable in the event that the business the borrower fails 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 contains security interests granted to individuals who own personal property (including the assets or goods). The PPSR grants priority over personal property to be assigned depending on the date that a security interest that is registered.
The caveat can be described as a formal document lodged to provide the legal claim to a property.
If you’re seeking the Larger Business Loan of more than $250K we can offer an initial pre-approval that will help ease the process. We could be able to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves you answering some financial health questions. It’s not an offer of credit or guarantee of financing. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you might receive could be subject to different conditions.
You may be eligible for an business loan if you:
The application process is fast and easy. Simply complete the online form within a few minutes and an experienced business expert in lending will be in touch to guide you.
To apply for up $100,000, you’ll require identification details (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent, 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, and interim current financial year financials including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we usually offer an answer within an hour, provided you submit your request in standard business timings and let us use the advanced bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements we can provide the decision within just one business day.
For Larger Business Loans ($100K and up) we could be in a position to offer you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain deals have been approved in 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard company hours. Also, permit us to use the advanced bank verification system link to confirm your bank details online. If you upload duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K or more) we can often offer a response in one hour, provided you apply within standard business timings and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statement, we’ll provide a decision in just an business day.
For the Larger Business Loans ($100K or more) we could be capable of offer the conditional pre-approval in about six hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some offers have been approved in just 24 hours.
The quickest method is to make sure you apply during standard business hours. You can also allow us to use the advance bank verification to instantly verify your bank account information online. If you upload duplicates of your banking accounts, it will take a little longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we will consider a number of elements that determine your health of the business and the amount of the repayments your business will be able to support. The amount you receive from the loan will be determined by the specifics the business.
When you submit an application for a set amount, we look at a range of elements to assess how much we can lend you such as health that is your business as well as the amount of repayments that your company can support. The amount you receive from the loan will be determined by the specific circumstances for your company.
When you make an application for business loans with us business credit, we’ll assess the risk assessment the business and offer you with a customised offer that includes loan amount, term and interest rates. A business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any costs, fees, or interest rates.
The interest rates on company loans rates vary due to variables like the amount to be borrowed, what business assets the funds will be used for, the industry the company is in, how long the company has been running for, whether the company has sufficient cash flow to pay for the loan, and general health as well as creditworthiness business.
There are no hidden costs with our company loans. You’ll know precisely how much it is that you be required to pay and when, right from the very first day. There’s no compounding and there are no additional charges (as long as you make your payments in time).
We do not charge an application fee. You are able to get a cash loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the total amount of your loan at any point in time.
If you do decide to pursue this option, please talk to one of our helpful business loan experts. They’ll provide you with the details of your repayment along with an early payout estimate. It will be calculated using the sum of the remaining principal amount plus any accrued interest as of the time of the early payout in addition to 1.5 percent of the principal balance plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow routine, we offer repayments either weekly or daily. They will be automatically deducted from your nominated business account.
Protecting your information, and being upfront about how we collect, use, exchange and ensure the security of your information is crucial and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and privacy. We employ a highly sophisticated banking verification system to immediately verify your bank account information online to provide a fast response.
Asset-based borrowing is when an business owner borrows from an asset they own to get a loan. The asset can be an individual asset, such as the family home or an company asset such as a vehicle or piece or equipment.
The vast majority of lenders, including the largest banks, are inclined to make loans secured by an asset. If you’re struggling to pay back the loan, your assets could be transferred to the lender. In essence, it is a way of securing new financing taking advantage of the value of what you already own.
For loans of up to $150K, there is no requirement for asset security upfront to access the money but we do need the personal guarantee. As long as you follow the terms of your loan (as specified in the loan contract) the security of assets is not needed. For loans that exceed $150K, generally, you are able to get an individual ensure and security that is in the form the charge of assets.
