The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K business loan.
All that’s required to get started is your contact information (the name of your company, your name, email or phone number) and the amount you’d like to borrow, and your monthly income.
In the course of the process and before settlement we will require confirmation of who you are, but not for starting:
Additionally after we get started with loans that exceed $150,000, you’ll need basic financial statements.
Let’s get started now.
Brisbane unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the money could be on your account within 24 hours. Traditional company loans refer to an interest rate per annum along with other charges and fees. Our company loan is a loan that is priced upfront therefore you’ll know in advance the total amount due, which includes the interest, fees and charges. Then, it is broken down into weekly or daily installment amount.
The Small Business Loan can be used for virtually every company need, such as cash flow management, company improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size the business needs to have been trading for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Larger Business Loan can be used to fund almost all company reason, such as company renovations, purchase of new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. This can be done by taking a charge over assets, and could be registered on the PPSR or making a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is generally in nature rather than stating security over an asset. The person signing the guarantee is personally responsible if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR gives preference over private property assigned in accordance with the date on which a security interest has been registered.
The caveat can be described as a formal form of document to provide the public notice of a legal claim against a property.
If you’re requesting a Larger Business Loan that is greater than $250,000 we may be able to provide a preliminary pre-approval to help simplify the process. We could be able to make this decision without a credit check and within six hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial well-being checks. It is not an offer or guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could be on different conditions.
You can apply for a business loan if you:
The application process is quick and simple. Just fill out the online application within a couple minutes, and an experienced business expert in lending will be in touch to assist you.
For a loan of up to $100,000 you’ll require identification details (valid Driver’s License) as well as a valid NZBN/IRD as well as at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually offer an answer within one hour – as long as you make your application during quality company hours and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to send us copies of your bank statements , we are able to offer an answer in as little as one company day.
For Larger Business Loans ($100K and up) we may be in a position to provide you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this can be quicker based on the particular circumstances of each application. Some transactions have received approval in just 24 hours.
The most effective method can be make sure you apply during normal company hours and allow us to use our advanced bank verification system link to instantly verify your bank account information online. If you decide to send us duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within an hour, provided you apply at standard business time and permit us to use the bank verification system link to instantly verify your bank’s information online. If you choose to submit copies of your bank statements we can offer an answer in as little as one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be able to provide you with pre-approval conditional to your application within about six hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval. However, it could be faster based on the specifics of each application. Certain offers have been approved in 24 hours.
The quickest method would be to ensure you apply during normal business hours. You can also allow us to use the modern bank verification link to instantly check your bank’s information online. If you choose to upload duplicates of your banking statement, it will take a little longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount, we take into consideration a range of variables for determining the well-being of your business and the level of payments your company can support. The total amount of your loan will depend on the particular circumstances the company.
If you apply for a certain amount, we look at a range of aspects to determine your health of your business and the extent of the repayments your business can support. The amount you receive from your loan will be contingent on the particulars that are unique to your company.
When you request the company credit, we will assess the risk assessment that you have for your company and offer an individualised offer that includes the amount of loan, the term and interest rates. A business loan is an upfront priced loan therefore you will know the exact amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates vary due to factors such as the amount that is of money borrowed, the company assets the funds are used to purchase as well as the field the company operates in, how long the business has been operating for, how long the company has enough cash flow to support the loan, as well as the general health or financial standing of the business.
There are no hidden costs with our company loans, and you’ll know precisely how much it is that you need to pay, and when, from the very first day. 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 covers the expenses involved with 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 loan amount.
You can repay the total amount of your loan early at any time.
If you are deciding to pursue this option, please talk to one of our helpful company lending professionals. The professionals will offer you with the details of your repayment and an early payout figure. It will be calculated using the total of the principal remaining and any accrued interest at the time of the early payout and 1.5% of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and ensure the security of your information is vital and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to security for our customers and security. We use an advanced bank verification system to immediately verify the bank account details online, allowing us to offer quick responses.
Asset-based borrowing is when a business owner borrows from assets they own to get the loan. The asset could be an individual property, such as the family home or it could be a business asset such as a truck or piece of equipment.
The majority of lending institutions, not just the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan then your assets could be taken over by the lender. In essence it is an opportunity to secure new financing using the worth of the asset you already have.
For loans up to $150K it is not necessary to secure assets upfront to access the money but we do require the personal guarantee. As long as you follow your loan commitments (as stated in the loan contract), asset security will never be needed. If you take out loans in excess of $150,000 generally there is the option of a personal ensure and security is provided in the form of a charge over assets.
