The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Find out the eligibility requirements for our $100K to $500K business loan.
All that is needed to begin is your contact information (the name of your company and your name, as well as email or phone number) along with the amount you’d like to borrow as well as your monthly income.
While in the process and before settlement we will need confirmation of your identity however, not in order to begin:
After we start in the process, for loans that exceed $150,000, you will also need the following financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
You can apply to this Small Business Loan in under 10 minutes via the internet or over the phone, receive an instant response and have the funds available in just 24 hours. Traditional business loans reference an annual interest rate together with additional fees and charges. Our business loan is a cash-based loan therefore you’ll know in advance the total amount due, which includes any fees, interest or charges. This is then divided into a daily or weekly repayment figure.
A Small Business Loan can be used for almost any company reason, such as control of cash flow business remodeling, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly, depending on you cashflow.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the loan amount.
To qualify for a loan in this amount the company needs to have been operating for at least three years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A large business loan can be used for nearly all business reason, such as company remodeling, buying equipment or inventory or as general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is needed for accessing funds over $150,000. This can be done in the form of a charge over assets, and could include the registration of this with the PPSR or filing a caveat.
A director’s or personal ensure is a commitment to repay a loan which is general in nature, rather than stating the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the business lender is not able 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 the priority of personal property assigned according to the date a security interest was registered.
A caveat is a legal document lodged to offer an official notice of a claim on a property.
If you’re seeking a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval in order to make the process. We may be able to make this decision without a credit verification and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial well-being questions. It is not an offer or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer that you receive could have different conditions.
You may be eligible for an company loan if you;
The application process is fast and simple. Simply complete the online form within a few minutes and an experienced business lending specialist will contact you to guide you through the process.
For a loan of up to $100,000, you’ll require proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Information on the application including credit consent, 12 months of bank statements, IRD statement, last 2 years finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we typically offer an answer within one hour, provided you apply in quality business time and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your bank statements , we’ll be able to provide a decision within 1 company day.
For the Larger Business Loan ($100K and up) we may be likely to provide the conditional pre-approval within about 6 hours. After you’ve signed your pre-approval form, it will take approximately 2-3 days to receive 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 for you to apply is ensure you apply during standard business hours. You can also allow us to use the modern bank verification to verify your bank information online. If you opt to send us documents from your account accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide a response in one hour – as long as you apply at normal business hours and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your banking statements we can provide an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we might be likely to provide you with a conditional pre-approval within 6 hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Certain agreements have been approved in 24 hours.
The quickest method is to ensure you apply during normal business hours and let us use the sophisticated bank verification to instantly verify your bank account information online. If you decide to send us documents from your account statements it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a specific amount we consider a variety of variables that determine the health for your company and the level of repayments your business is able to afford. The total amount of your loan will be contingent on the specifics of your business.
When you make an application for a particular amount, we take into consideration a variety of variables to assess the health for your company and the amount of the repayments your business is able to afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your company.
When you apply for one of our business loan, we will assess the risk profile that you have for your business and offer you with a customised proposal that includes the amount of the loan, the duration and interest rates. The company loan is an upfront-priced loan which means you know in advance the total amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates depend on several factors such as the amount that is borrowed, what business assets the money will be used for, the industry the business is in, how long the business is in operation as well as how long the company has sufficient cash flow to cover the loan, and the overall well-being and creditworthiness of the company.
There aren’t any hidden costs for our business loans. You’ll know exactly how much you need to pay and when, starting from the day you sign up. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to make an application for loans with no cost upfront or commitment to apply.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can repay the total amount of your loan in full at any time.
If you choose to do this please call our helpful company loan specialists. The experts will provide you with repayment details and an early payment figure. This is calculated as the total of the principal balance plus any accrued interest as of the time of early payment, plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To ensure that you don’t miss payments and to work with your cash flow standard, we provide repayments either daily or weekly. They will be automatically deducted from your designated business account.
The security of your personal information, as well as being transparent about the ways we gather the information we collect, use, share and safeguard your data, is of huge importance and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account information online. This allows us to provide quick responses.
Asset-based borrowing is when a business owner borrows from an asset they own to secure a loan. The asset could be an asset belonging to the personal, like the family home, or a company asset such as a vehicle or piece or equipment.
The vast majority of lenders, including the major banks, prefer to guarantee loans against an asset. If you’re having trouble paying back the loan, your asset may be offered for sale by the lender. In essence, it’s a way of securing new funding using the worth of the asset you already own.
For loans that exceed $150K, there is no requirement for asset security upfront to access the money However, we require a personal guarantee. need a personal guarantee. As long as you follow your loan commitments (as detailed in the loan contract) the security of assets is not needed. For loans that exceed $150,000, generally there is a personal ensure and security in the form an asset charge.
