The requirements for obtaining an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K to $500K company loans.
All you need for starting is your contact details (company name and your name, as well as email and telephone) as well as the amount you want to borrow, as well as your monthly income.
In the course of the process and before settlement we will need confirmation of who you are, but not before we can begin:
Once we’ve started with loans that exceed $150,000, you will also need the following financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
It is possible to apply to the Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and funds may be in your account within 24 hours. Traditional business loans are based on an interest rate per annum plus other fees and charges. The business loan is a cash-based loan therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. Then, it is broken down into a daily or weekly amount to be paid back.
A Small Business Loan can be used to fulfill almost any company use, including managing cash flows, company improvements, advertising to purchase inventory, new equipment, for general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the loan amount.
To qualify for a loan that is this large the company needs to be operating for a minimum of 3 years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large company loan can be used for almost any business use, including company renovations, purchase of inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is needed to obtain funding above $150,000. It’s by taking a charge against assets, which could also include registering this through the PPSR or registering a caveat.
A director’s or personal ensure is a commitment to repay credit that is general in nature rather than stating security over a particular asset. The person signing the ensure is personally responsible if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including the assets or goods). The PPSR grants preference over private property granted according to the date a security interest was registered.
The caveat can be described as a formal form of document to offer the legal claim on a property.
If you’re requesting the Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval that will help simplify the process. It is possible to apply for this without credit checks and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health questions. It’s not an offer or guarantee of credit. A conditional approval is subject a full credit assessment and any offer that you may receive may be subject to different conditions.
You may apply for a business loan if you
The application process is fast and easy. Complete the online form in few minutes and a dedicated company loan specialist will contact you to guide you.
To apply for up $100,000 you’ll need ID details (valid Driver’s License) and a valid NZBN/IRD as well as at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details for application including credit consent twelve month bank accounts, the IRD statement, last 2 years finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often provide an answer within an hour if you submit your request during quality business timings and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your bank statements , we’ll be able to provide an answer in as little as the span of one business day.
For the Larger Business Loan ($100K to $500K) we may be likely to offer you with conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however it could be faster based on the specifics of each application. Some offers have been approved within 24 hours.
The quickest method would be to ensure you apply during standard company hours. Also, allow us to use our modern bank verification to verify your bank information online. If you choose to send us duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K and up) we typically offer an answer within one hour if you make your application during normal business times and permit us to utilise the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements, we will be able to offer a decision in as little as the span of one business day.
For the Larger Business Loans ($100K or more) we may be in a position to provide you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval form, it will take around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some transactions have received approval within the space of 24 hours.
The fastest way would be to make sure you apply during standard business hours and allow us to use the advanced bank verification system to confirm your bank details online. If you opt to upload documents from your account statement, it will take a little longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a specific amount we consider a variety of factors in order to assess what is the health that is your business as well as the amount of payments your company can support. The total amount of the loan will be determined by the particular circumstances for your business.
When you submit an application for a certain amount, we look at a range of aspects to determine how much we can lend you such as well-being that is your company and the extent of the repayments your business can afford. The total amount of the loan will be determined by the specific circumstances for your business.
If you decide to apply for business loans with us company financing, we will assess the risk assessment the business and provide you with a customised offer, including loan amount, term and interest rates. The company loan is an upfront priced loan therefore you will know in advance the total amount to be paid, including any charges or interest.
The interest rates on business loans rates vary due to factors like the amount of money that is borrowed, what company assets the funds are used to purchase, the industry the company operates in, the long the company has been in operation and whether the business has sufficient cash flow to pay for the loan, and general well-being and creditworthiness of the business.
There aren’t any hidden costs for our company loans. You’ll know exactly how much you’ll need to pay and when, from the day you sign up. There’s no compounding interest and there are no additional charges (as as you make your payments punctually).
We do not charge an application fee. You can apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can decide to repay the total amount of your loan early at any time.
If you choose to do this please speak to our friendly company loan specialists. We will offer you with details for repayment and an early payout figure. The figure will be calculated as the sum of the principal balance and accrued interest to the time of early payout and 1.5 percent of the remaining principal and any outstanding fees.
To help you avoid missing payment dates and to align your cash flow schedule, we provide payments that are either daily or weekly. They will be automatically deducted from the nominated business account.
Protecting your information, and being upfront about the ways we gather the information we collect, use, share and protect your information, is of paramount importance and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We use an advanced bank verification system link to immediately verify the bank account details online to offer rapid response.
An asset-based loan is when a business owner uses the assets they have to secure the funding. The asset can be either an asset belonging to the personal, like the family home, or an company asset such as a truck or other piece of machinery.
The majority of lenders, not just the banks with the biggest size, prefer to secure loans against an asset. If you have trouble paying back the loan, then the asset could be sold by the lender. In essence it’s the process of securing new financing using the worth of the asset you already have.
For loans of up to $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 your loan obligations (as detailed in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150,000 generally there is an individual ensure and security is provided in the form of an asset charge.
