The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Review the eligibility requirements for our $100K-$500K business loans.
All you need to begin is your contact information (company name, your name, email or phone number), how much you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start in the process, for loans greater than $150,000 you’ll also require basic financial statements.
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow-friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes over the phone, receive an immediate response, and funds may be on your account within 24 hours. Traditional business loans refer to an interest rate per annum along with other charges and fees. Our business loan is an upfront priced loan which means you be aware of the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
It is a Small Business Loan can be used for almost every business use, including control of cash flow company remodels and marketing, to purchase inventory or new equipment, for general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size, your business needs to have been in operation for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost any company reason, such as company renovations, to purchase equipment or inventory for general working capital and much more. The loan cannot be used for personal use.
Asset security is needed for funding of more than $150,000. This can be done by way of charge over assets, and could include registering this with the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is general in nature rather than defining the security for a particular asset. The person signing the ensure is personally responsible if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated 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 gives priority over personal property to be assigned according to the date a security interest has been registered.
An affidavit is an official document lodged to provide the legal claim to property.
If you’re applying for a Larger Business Loan that is greater than $250K we can offer an initial pre-approval to simplify the process. We could be able to make this decision without a credit check, and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial well-being questions. It is in no way an offer, nor is it a guarantee of finance. Unconditional approval is subject to a full credit assessment and any offer that you might receive could be based on different terms.
You are eligible to apply for a company loan if you
The application process is quick and simple. Simply complete the online form in few minutes and an experienced business expert in lending will be in touch to assist you.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K to $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details of the application, including credit consent, 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) We can usually offer an answer within one hour – as long as you apply within standard company hours and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statements , we will be able to offer the decision within just one company day.
For the Larger Business Loan ($100K or more) we might be likely to provide you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some offers have been approved within the space of 24 hours.
The most efficient method is to make sure you apply during normal company hours. You can also allow us to use the modern bank verification to instantly confirm your bank details online. If you decide to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide a response in one hour – as long as you make your application at standard business times and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you want to submit copies of your bank statements, we’ll be able to offer the decision in as little as one business day.
For Larger Business Loans ($100K or more) we might be likely to provide you with conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this can be faster depending upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The fastest way would be to make sure you apply during normal business hours, and allow us to use our modern bank verification to confirm your bank details online. If you opt to upload copies of your bank statements, it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a certain amount we take into consideration a range of elements for determining what is the health that is your company and the extent of the repayments your company can afford. The total amount of the loan will be determined by the particular circumstances the company.
When you make an application for a certain amount, we will consider a number of variables to assess your well-being that is your business and the extent of the repayments your company is able to afford. The total amount of your loan will be determined by the particulars of your business.
If you decide to request the business loan, we will assess the risk profile of your business and provide you with a customised offer that includes loan amount, term and the interest rates. The company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any charges, interest rates or fees.
The interest rates on business loans rates vary due to factors like the amount of money borrowed, what business assets the money will be used for and the sector the company operates in, the long the company has been in operation as well as how long the business has sufficient cash flow to support the loan, and also the general well-being or creditworthiness of the company.
There aren’t any hidden costs for our business loans, and you’ll be aware of the amount it is that you be required to pay and when, starting from the very first day. There’s no compounding and no extra fees (as long as you make your payments in time).
We do not charge an application fee. You are able to make an application for loans no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You can choose to repay the total amount of your advance loan at any time.
If you are deciding to take this route, please speak to our friendly business loan professionals. They will provide you with details on repayment as well as an early payout amount. This will be calculated as the total of the principal remaining and the accrued interest up to the time of early payment in addition to 1.5% of the remaining principal and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow schedule, we offer repayments that are either weekly or daily. They will be automatically deducted from your designated business account.
The security of your personal information, as well as being upfront about how we collect information, use it, and exchange it, as well as secure your information, is of huge importance and is an essential element of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We make use of an advanced bank verification system that allows you to immediately verify the bank account details online. This allows us to offer rapid response.
Asset-based borrowing occurs when a business owner utilises an asset that they own to make a loan. The asset can be either an individual property, such as the family home or a company asset such as a vehicle or piece of equipment.
The vast majority of lenders, even the largest banks, are inclined to make loans secured by assets. If you’re having trouble paying back the loan, then the asset could be sold by the lender. In essence it’s means of securing new financing by using the value of what you already have.
For loans that exceed $150K, the requirement for asset security is not required before you can access the money However, we do require an individual guarantee. As long as you follow your loan obligations (as detailed in your loan contract document) Asset security is not required. If you take out loans in excess of $150,000 generally, you are able to get an individual ensure and security in the form the charge of assets.
