The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business loan.
All that’s required to begin is your contact information (company name, your name, email and phone), how much you’d like to borrow, as well as your monthly income.
During the process and before settlement we will need confirmation of your identity, however, not in order to begin:
After we start in the process, for loans over $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 between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes online or over the phone, receive an instant response and funds may be available in just 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. This business loan is an upfront priced loan which means you know ahead of time the amount you will have to pay, including any fees, interest or charges. Then, it is divided into a daily or weekly repayment figure.
It is a Small Business Loan can be used to fulfill almost every business need, such as control of cash flow business renovations, marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
It is crucial to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your company needs to be operating for a minimum of 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger company loan can be used to fund almost every company use, including company improvements, purchasing equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for accessing funds over $150,000. It’s by way of charge over assets, and could include registering this through the PPSR or filing as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally based rather than specifying security over a particular asset. The person who is 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 registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR grants the priority of personal property granted depending on the date that a security interest was registered.
Caveats are legal form of document to offer notice of a legal claim to a property.
When you’re applying for an enterprise loan of more than $250,000, we may offer an initial pre-approval to make the process. We could be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial well-being checks. This is in no way an offer, nor is it a guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you receive could be based on different conditions.
You may be eligible for an business loan if you:
The application process is fast and simple. Just fill out the online application within a couple minutes, and a dedicated company loan specialist will be in touch to guide you through the process.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Information on the application including credit consent twelve month bank accounts, the IRD statement and the last two years’ finalised financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) We can usually provide a response in one hour if you apply in standard business times and permit us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statements , we are able to provide a decision in just 1 company day.
For the Larger Business Loan ($100K up to $500,000) we could be in a position to offer you with a conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval within the space of 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours. Also, let us use the modern bank verification link to instantly verify your bank account information online. If you send us copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K or more) we can often offer a response in one hour – provided you submit your request during standard business time and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements, we will be able to provide the decision in just one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be likely to offer you with pre-approval conditional to your application within about six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way is to ensure you apply during normal business hours. You can also allow us to use our modern bank verification link to instantly verify your bank information online. If you decide to send us duplicates of your banking statements, it takes a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount, we take into consideration a range of factors for determining your well-being of your company and the level of repayments that your company is able to afford. The amount you receive from the loan will be determined by the specific circumstances that are unique to your company.
When you make an application for a set amount, we look at a range of aspects to determine your health that is your business and the extent of the repayments your company can afford. The total amount of your loan will depend on the particular circumstances that are unique to your business.
When you apply for business loans with us business credit, we’ll assess the risk assessment the company and provide you with a customised offer that includes loan amount, term and interest rates. The company loan is an upfront cost loan and you’ll know the exact amount to be paid, including any costs, fees, or interest rates.
Interest rates for company loans rates depend on a variety of variables like the amount to be that is borrowed, what business assets the money are used to purchase, the industry the company operates in, how long the business has been operating, how long the business has enough cash flow to fund the loan, and the overall health or creditworthiness of the business.
There aren’t any hidden charges with our company loans, and you’ll know precisely what you’ll need to pay and at what time, from the very first day. There’s no compounding interest, and there are no additional charges (as long as you are able to make your payments punctually).
We don’t charge an application fee. You can apply for a loan no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay all of your advance loan at any time.
If you do decide to do this please call our helpful company lending specialists. They will provide you with repayment details along with an early payout estimate. The figure will be calculated as the total of the principal remaining and accrued interest to the time of early payment plus 1.5 percent of the principal remaining and any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your company account.
Making sure that your information is secure, and being transparent about how we collect data, process, exchange and ensure the security of your information is of huge importance and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We use an advanced banking verification system to immediately verify the bank account details online to offer an immediate response.
Asset-based borrowing is when a company owner uses an asset they own to get a loan. The asset may be a personal asset like the family home or an business asset such as a truck or other piece of machinery.
The majority of lending institutions, even the largest banks, are inclined to guarantee loans against assets. If you have trouble paying back the loan, then the asset could be sold by the lender. In essence it is an opportunity to secure additional financing using the value of what you already have.
For loans that exceed $150K, no asset security is required in advance to gain access to the funds but we do require an individual guarantee. As long as you follow the loan terms (as stated in your loan contract), asset security is not needed. If you take out loans in excess of $150,000 generally, you are able to get the option of a personal guarantee and security is provided in the form of an asset charge.
