The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Find out the conditions of eligibility for our $100K-$500K company loans.
All that is needed to begin is your contact details (company name, your name, email address and phone) along with the amount you want to borrow, and your monthly earnings.
While in the process and before settlement we will need confirmation of who you are but not for starting:
Once we’ve started in the process, for loans that exceed $150,000, you’ll require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to get this Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and funds may be in your account in 24 hours. Traditional business loans reference an annual interest rate plus other fees and charges. This company loan is a pre-paid loan therefore you’ll know ahead of time the total amount payable including the interest, fees and charges. This is then broken down into weekly or daily payment amount.
The Small Business Loan can be used for almost every business reason, such as managing cash flows, business renovations, marketing to purchase inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size the company needs to be in operation for at least 3 years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost any business need, including company remodeling, buying equipment or inventory for general working capital and so much more. The loan is not available for personal reasons.
Asset security is required to obtain funding above $150,000. It is usually as a result of an charge over assets, and could be registered in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is generally based rather than defining security over an asset. The person who signs the guarantee is personally accountable if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR allows priority over personal property to be granted in accordance with the date on which a registration of a security interest.
Caveats are legal document filed to provide notice of a legal claim to property.
If you’re applying for larger company loans that exceeds $250,000, we may offer an initial pre-approval to smooth out the process. It is possible to get this done without a credit verification and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes you answering some financial well-being checks. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer that you may receive may be on different terms.
You are eligible to apply for a company loan if you
The process for applying is fast and easy. Just fill out the online application in just a few minutes, and an experienced company expert in lending will contact you to assist you.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License), a valid NZBN/IRD as well as at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent as well as 12 months of bank records, IRD statements as well as the two most recent years’ financial statements, and interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) we can often provide an answer in just one hour, provided you submit your request during quality company hours and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to submit copies of your bank statements , we will be able to offer the decision in as little as the span of one company day.
If you are applying for a Larger Business Loan ($100K to $500K) we might be likely to provide the conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain deals have been approved in 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours. Also, allow us to use our advance bank verification link to check your bank’s information online. If you opt to upload the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer in just one hour – provided you make your application within normal business hours and let us make use of the advanced bank verification system link to immediately verify your bank account information online. If you want to submit copies of your bank statements, we’ll be able to offer the decision within an business day.
For Larger Business Loans ($100K to $500K) we may be in a position to offer the conditional pre-approval in around 6 hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some offers have been approved within 24 hours.
The fastest method can be make sure you apply during normal business hours, and permit us to use the advance bank verification to verify your bank account information online. If you opt to send us duplicates of your banking accounts, it may take a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a certain amount we look at a variety of elements that determine the well-being of the company and the level of repayments your company will be able to support. The amount you receive from your loan will depend on the specifics for your company.
When you apply for a particular amount, we will consider a number of aspects to determine your well-being for your business and the level of payments your business can support. The total amount of your loan will depend on the specifics the business.
When you request our company financing, we will assess the risk profile that you have for your company and provide you with a tailored offer that includes the loan amount, the terms and interest rates. A business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for company loans rates differ based on various factors such as the amount that is borrowed, what business assets the funds are used to purchase and the sector the business operates in, the long the company has been running, in the event that the business has sufficient cash flow to support the loan, and also the general health or financial standing of the company.
There aren’t any hidden charges for our business loans. You’ll know precisely what you’ll need to pay, and when, starting from the first day. There’s no compounding interest, and there are no additional charges (as long as you make your payments on time).
We don’t charge an application fee. You can make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the entire amount of the loan early at any time.
If you are deciding to do this please talk to one of our helpful business credit specialists. They’ll offer you with the details of your repayment and an early payment figure. This will be calculated as the sum of the remaining principal amount and any accrued interest at the time of the early payout, plus 1.5% of the principal remaining and any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your company account.
Security of your data, and making it clear the ways we gather the information we collect, use, share and safeguard your data, is of paramount importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to customer security and security. We use an advanced bank verification system link to immediately confirm your bank account information online, allowing us to offer quick responses.
An asset-based loan is when an company owner utilises the assets they have to obtain a loan. The asset can be either an individual property, such as the family home, or a business asset such as a vehicle or piece or equipment.
The vast majority of the lenders including the major banks, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan then the asset could be sold by the lender. In essence it’s an opportunity to secure additional financing using the worth of the asset you already own.
For loans of up to $150K, 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 specified in your loan contract), asset security will never be required. For loans over $150,000 generally there is a personal ensure and security that is in the form the charge of assets.
