The requirements for obtaining an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Are you looking for additional funding? Take a look at the conditions of eligibility for our $100K to $500K company loans.
All that is needed for starting is your contact details (the name of your company, your name, email and phone) along with the amount you’d like to borrow, as well as your monthly income.
In the course of the process and before settlement we will need confirmation of your identity, but not for starting:
Once we’ve started in the process, for loans greater than $150,000 you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the funds could be in your account within 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. We offer a business loan is a pre-paid loan which means you be aware in advance of the total amount to be paid, including any fees, interest or charges. This is then broken down into either weekly or daily repayment figure.
It is a Small Business Loan can be used for virtually every company purpose including the management of cash flow, business remodels and marketing for purchasing inventory or new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To qualify for a loan in this amount, your company needs to have been operating for a minimum of 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A larger business loan can be used for nearly all company use, including company renovations, purchase of equipment or inventory as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. This can be done in the form of a charge on assets, and may include registration on the PPSR or registering a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is general in nature, rather than defining security over a particular asset. The person who is signing the guarantee is personally liable in the event that the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It records security interests that have been that are registered for personal property (including the assets or goods). The PPSR allows prioritisation over property that is personal to be granted according to the date the security interest has been registered.
The caveat can be described as a formal document that is filed to provide notice of a legal claim to property.
When you’re applying for larger business loans that exceeds $250K we can offer an initial pre-approval that will help smooth out the process. It is possible to do this without credit checks and within six hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial well-being questions. This is in no way an offer, nor is it a guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you may receive may be on different terms.
You can apply for a company loan if you:
The application process is fast and simple. Just complete the online application within a few minutes and a dedicated company expert in lending will call you to help you.
For a loan of up to $100,000, you’ll need proof of identity (valid Driver’s License) and a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent, 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually offer an answer in just one hour – as long as you make your application during standard company hours and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statement, we’ll provide a decision in just one company day.
For the Larger Business Loan ($100K to $500K) we might be in a position to provide the conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Some transactions have received approval within just 24 hours.
The most effective method for you to apply is make sure you apply during normal company hours, and let us use the advance bank verification link to confirm your bank details online. If you decide to send us documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within one hour, provided you make your application during standard business times and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your banking statements, we’ll be able to offer an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we could be likely to offer you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain offers have been approved within just 24 hours.
The fastest way would be to make sure you apply during standard business hours. You can also allow us to use our modern bank verification to instantly confirm your bank details online. If you opt to send us documents from your account statement, 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 aspects to determine your well-being of the company and the level of repayments your company is able to afford. The amount you receive from the loan will be determined by the specifics that are unique to your business.
When you make an application for a particular amount, we consider a variety of factors to determine the well-being that is your company and the extent of repayments your company can support. The amount you receive from your loan will depend on the particular circumstances the company.
When you make an application for our business loan, we’ll assess the risk profile of your company and provide an individualised offer including the loan amount, the terms and interest rates. It is a business loan is a loan that is priced upfront which means you be aware in advance of the total amount payable including any charges, interest rates or fees.
The interest rates on business loans rates differ based on various factors like the amount of money of money borrowed, the business assets the money will be used for and the sector the company operates in, the long the business is in operation for, in the event that the company has sufficient cash flow to cover the loan, and general well-being or creditworthiness of the business.
There are no hidden fees with our business loans, and you’ll be aware of the amount you’ll need to pay, and when, from day one. There’s not any compounding interest and there are no additional charges (as as you make your payments on time).
We don’t charge an Application Fee. You are able to apply for a loan with without any upfront costs or commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You may choose to pay back the total amount of your advance loan at any time.
If you decide to do this please contact our helpful company lending experts. The professionals will offer you with repayment details along with an early payout estimate. This will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout, plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To ensure you do not miss payment dates and to align with your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your nominated business account.
The security of your personal information, as well as being upfront about how we collect the information we collect, use, share and secure your information, is vital and an integral element of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system link to immediately confirm your bank account information online to provide rapid response.
Asset-based borrowing occurs when an company owner uses the assets they have to get a loan. The asset can be either an asset belonging to the personal, like the family home, or an company asset like a truck as well as a piece of machine.
The vast majority of the lenders including the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan then the asset could be taken over by the lender. In essence it is a way of securing new funding using the value of what you already have.
For loans up to $150K it is not necessary to secure assets before you can access the money but we do require the personal guarantee. So long as you comply with the loan terms (as stipulated in your loan contract), asset security is not needed. For loans over $150K generally there is an individual ensure and security in the form charges on assets.
