The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Check out the eligibility requirements for our $100K to $500K company financing.
All that’s required for starting is your contact information (company name, your name, email, phone) along with the amount you want to borrow, and your monthly revenue.
In the course of the process and before settlement we will need confirmation of who you are but not before we can begin:
After we start, for loans of more than $150,000 you’ll also require basic financial statements:
Let’s get started now.
Brisbane unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply to this Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and funds may be in your account within 24 hours. Traditional company loans refer to an annual rate of interest along with other charges and fees. This business loan is an upfront priced loan therefore you’ll know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
It is a Small Business Loan can be used for nearly every company purpose including control of cash flow company remodels and marketing to purchase inventory, new equipment, for general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan that is this large the business needs to have been trading for at least 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger business loan can be used for nearly any company use, including company remodeling, buying new equipment or inventory for general working capital and so much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. It is usually by taking a charge over assets and can include the registration of this with the PPSR or making as a caveat.
A personal or director’s ensure is a commitment to repay credit that is generally in nature rather than specifying the security for a particular asset. The person who signs the guarantee is personally accountable if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date the security interest was registered.
A caveat is a legal document that is filed to provide notice of a legal claim against a property.
If you’re seeking the Larger Business Loan of $250K or more we can offer a preliminary pre-approval to help smooth out the process. We might be able to make this decision without a credit verification and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial health checks. It’s not an offer of credit or guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you might receive could be on different terms.
You may apply for an company loan if you
The process for applying is fast and simple. Just complete the online application in just a few minutes, and a dedicated business credit specialist will contact you to guide you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Information on the application including credit consent as well as 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, plus interim financials from the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within one hour if you submit your request during quality business times and let us utilise the bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements , we are able to offer a decision in just one company day.
For Larger Business Loans ($100K or more) we may be likely to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Certain transactions have received approval within 24 hours.
The most effective method is to ensure you apply during standard business hours, and let us use the modern bank verification to instantly check your bank’s information online. If you opt to send us the copies of bank statement, it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer in just one hour – provided you submit your request during standard business times and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements we can offer the decision in just an business day.
If you are applying for Larger Business Loans ($100K and up) We may be able to provide you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain agreements have been approved in just 24 hours.
The most efficient method can be make sure you apply during standard business hours. Also, permit us to use the sophisticated bank verification to check your bank’s information online. If you upload the copies of bank statements, it will take a little longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a certain amount, we consider a variety of elements that determine what is the health that is your company and the extent of payments your business can support. The amount you receive from your loan will depend on the specific circumstances the company.
When you submit an application for a certain amount, we take into consideration a variety of factors to assess the health that is your company as well as the amount of the repayments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances the company.
If you decide to request one of our business financing, we will assess the risk assessment the business and provide you with a customised offer, including the amount of the loan, the duration and the interest rates. The business loan is a loan that is priced upfront and you’ll know in advance the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates depend on a variety of factors such as the amount that is borrowed, what business assets the money are used to purchase and the sector the business operates in, how long the company has been in operation, in the event that the business has enough cash flow to pay for the loan, and general health or financial standing of the company.
There are no hidden fees for our company loans. You’ll know precisely how much you need to pay, and at what time, from the first day. There’s no compounding interest, and no extra fees (as long as you make your payments punctually).
We do not charge an application fee. You are able to apply for a loan with no upfront cost or obligation to proceed.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay the total amount of your loan in full at any time.
If you decide to pursue this option, please call our helpful company credit experts. They will offer you with details on repayment and an early payout figure. This is calculated as the total of the principal balance and the accrued interest up to the time of the early payout and 1.5% of the remaining principal as well as any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow cycle we provide payments that are either weekly or daily. They will be automatically deducted from your designated company account.
Making sure that your information is secure, and making it clear the ways we gather information, use it, and exchange it, as well as ensure the security of your information is crucial and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to security for our customers and privacy. We employ a highly sophisticated bank verification system that allows you to instantly confirm your bank account information online so we can offer rapid response.
The term "asset-based" refers to borrowing where the company owner uses assets they own to get the loan. The asset could be an asset belonging to the personal, like the family home, or it could be a business asset like a truck as well as a piece of machine.
The vast majority of banks, including the largest banks, are inclined to secure loans against an asset. If you’re struggling to pay back the loan, the asset might be taken over by the lender. In essence it’s an opportunity to secure new financing by using the value of what you already have.
Up to $150K in loans it is not necessary to secure assets before you can access the money, however we do require a personal guarantee. So long as you comply with the loan terms (as detailed in the loan contract), asset security is not needed. For loans over $150,000 generally, you can get the option of a personal ensure and security in the form of an asset charge.
