The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K company credit.
All that is needed to get started is your contact details (the name of your company, your name, email and telephone) as well as the amount you’d like to borrow and your monthly earnings.
During the process and before settlement we’ll require confirmation of who you are, however, not in order to begin:
After we start in the process, for loans of more than $150,000 you’ll need basic financial statements.
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Brisbane unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an answer within the same day and have the funds on your account within 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. This business loan is a pre-paid loan therefore you’ll know in advance the total amount due, which includes any interest, fees or charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used for virtually every company need, such as control of cash flow company remodeling, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size the company needs to have been trading for at least 3 years with an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger business loan is a great option for almost any business use, including company improvements, purchasing equipment or inventory as well as for general working capital, and much more. The loan is not available for personal use.
Asset security is necessary for funding of more than $150,000. This can be done by way of charge over assets and can be registered with the PPSR or filing as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature rather than stating the security of a specific asset. The person who is signing the guarantee is personally responsible if the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including items or assets). The PPSR grants preference over private property granted in accordance with the date on which a security interest that is registered.
Caveats are legal document filed to offer the public notice of a legal claim on a property.
When you’re applying for the Larger Business Loan that exceeds $250,000 we can offer an initial pre-approval that will help ease the process. We may be able to do this without a credit verification and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial health checks. It is not an offer or guarantee of credit. A conditional approval is subject an assessment of your creditworthiness and any offer that you are offered could be on different conditions.
You are eligible to apply for a company loan if you:
The process for applying is fast and easy. Simply complete the online form within a couple minutes, and a dedicated company credit specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll require the right identification documents (valid Driver’s Licence), an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll also require:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Application details including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) we can often offer an answer in just one hour – as long as you submit your request in standard company timings and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements we can offer a decision within just an business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be able to provide the conditional pre-approval within about six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some offers have been approved within the space of 24 hours.
The quickest method is to ensure you apply during standard company hours, and permit us to use the modern bank verification to verify your bank information online. If you decide to send us copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within an hour, provided you submit your request within normal business hours and permit us to utilise the advanced bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statement, we’ll offer the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K and up) we could be in a position to offer you with a conditional pre-approval within 6 hours. Once you have 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 offers have been approved within less than 24 hours.
The quickest method can be ensure you apply during normal business hours. Also, let us use the modern bank verification to instantly verify your bank information online. If you decide to upload duplicates of your banking statements it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a specific amount we consider a variety of variables to determine your well-being for your company as well as the amount of payments your company can afford. The total amount of your loan will be contingent on the specific circumstances of your business.
When you submit an application for a particular amount, we look at a range of variables to determine how much we can lend you such as well-being of your company and the amount of repayments that your business is able to afford. The total amount of your loan will be determined by the particular circumstances for your company.
If you decide to apply for one of our company financing, we will assess the risk assessment that you have for your company and provide an individualised offer, including the loan amount, the terms and the interest rates. It is a business loan is a loan that is priced upfront so you will know in advance the total amount due, which includes any charges, interest rates or fees.
Interest rates for company loans rates depend on several factors including the amount borrowed, what company assets the money are used to purchase, the industry the business is operating in, how long the business has been running for, what percentage of the company has sufficient cash flow to pay for the loan, as well as the overall well-being or financial standing of the company.
There are no hidden fees for our business loans, and you’ll know precisely what you need to pay and when, right from the first day. There’s not any 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 request a credit loan without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can repay the total amount of your loan early at any time.
If you choose to take this route, please talk to one of our helpful business loans experts. We will provide you with the details of your repayment and an early payment figure. It will be calculated using the sum of the remaining principal amount and accrued interest to the date of early payout plus 1.5% of the principal amount remaining plus any outstanding fees.
To ensure that you don’t miss repayments and to fit in with your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from your designated business account.
Making sure that your information is secure, and making it clear how we collect information, use it, and exchange it, as well as secure your information, is of huge importance and a vital element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to security for our customers and privacy. We employ an exceptionally sophisticated banking verification system to immediately verify the bank account details online to provide quick responses.
An asset-based loan is when a company owner uses the assets they have to secure the funding. The asset can be either a personal asset like the family home or it could be a company asset such as a truck or piece or equipment.
The majority of banks, including the big banks, tend to secure loans against assets. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence, it’s an opportunity to secure additional financing using the value of what you already own.
Up to $150K in loans the requirement for asset security is not required in advance to gain access to the funds, however we require a personal guarantee. require a personal guarantee. In the event that you fulfill the loan terms (as stipulated in the loan contract) the security of assets is not required. For loans of over $150,000 typically, you will need an individual guarantee and security is provided in the form of the charge of assets.
