The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K company loan.
All you need to start is your contact information (the name of your company, your name, email, phone) and the amount you’d like to lend, and your monthly earnings.
Through the process and before settlement we’ll require confirmation of who you are but not for starting:
After we start in the process, for loans of more than $150,000 you will also require basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
The application to this Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and the money could be in your account in 24 hours. Traditional company loans have an annual rate of interest along with other charges and fees. Our business loan is a cash-based loan therefore you’ll know in advance the total amount to be paid, including any interest, fees or charges. Then, it is broken down into either weekly or daily payment amount.
A Small Business Loan can be used for nearly every company reason, such as control of cash flow business renovations, marketing to purchase inventory, 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 size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are either weekly or fortnightly, depending on your situation.
This Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
To be eligible for a loan that is this large, your company needs to be in operation for at least 3 years, and have an annual income of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger company loan can be used for nearly any company reason, such as business improvements, purchasing equipment or inventory, as general working capital and much more. The loan is not available for personal purposes.
Asset security is required to access funding over $150,000. This can be done by taking a charge over assets, and may include registration through the PPSR or the registration of a caveat.
A personal or director’s ensure is a guarantee to pay back a loan that is generally in nature rather than stipulating security over an asset. The person who signs the guarantee is personally liable if the business 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 reflects security interests registered in respect of personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be assigned in accordance with the date on which a security interest that is registered.
The caveat can be described as a formal document lodged to provide an official notice of a claim against a property.
If you’re requesting a Larger Business Loan of $250K or more we may be able to provide an initial pre-approval that will help simplify the process. We could be able to apply for this without credit checks and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being checks. This is not an offer of credit 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 may apply for an company loan if you:
The application process is quick and simple. Just complete the online application within a few minutes and a dedicated business loan specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s License) 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 need:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements, last 2 years finalised financial statements, and interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K or more) we can often provide an answer within one hour – as long as you make your application within standard business hours and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements , we will be able to offer the decision within 1 business day.
For Larger Business Loans ($100K or more) we may be able to offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Certain offers have been approved within the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours. You can also allow us to use our advanced bank verification system to instantly verify your bank information online. If you choose to upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer within one hour – as long as you submit your request during standard business hours and allow us to use the bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statements we can provide a decision in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be likely to provide you with conditional pre-approval in about six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Some deals have been approved within less than 24 hours.
The fastest method is to make sure you apply during standard business hours, and permit us to use the modern bank verification link to instantly check your bank’s information online. If you choose to upload documents from your account 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 specific amount we consider a variety of elements for determining how much we can lend you well-being of the company as well as the amount of the repayments your company will be able to support. The total amount of your loan will depend on the specifics that are unique to your business.
When you apply for a certain amount, we consider a variety of variables to determine the health that is your company and the level of payments your business is able to afford. The amount you receive from the loan will be determined by the specifics for your company.
If you decide to make an application for the business loan, we will assess the risk assessment of your company and provide you with a customised offer including the amount of loan, the term and interest rates. The business loan is an upfront priced loan so you will know in advance the total amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates depend on several factors like the amount of money of money borrowed, the business assets the money are used to purchase and the sector the company is in, how long the company has been in operation as well as what percentage of the business has sufficient cash flow to support the loan, as well as the general well-being as well as creditworthiness business.
There aren’t any hidden costs with our business loans. You’ll know precisely what you need to pay and when, starting from day one. There’s not any compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We don’t charge an application fee. You are able to request a credit loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of the loan in full at any time.
If you do decide to do this please talk to one of our helpful business credit professionals. They’ll offer you with repayment details and an early payout figure. This will be calculated as the total of the principal balance plus any accrued interest as of the time of the early payout and 1.5% of the principal balance as well as any outstanding fees.
To make sure you do not miss due dates and also to be in line your cash flow schedule, we provide repayments either weekly or daily. These are automatically deducted from your nominated company account.
Making sure that your information is secure, and making it clear how we collect data, process, exchange and protect your information, is crucial and a vital aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We utilise a sophisticated bank verification system link to instantly verify your bank account details online, allowing us to offer an immediate response.
An asset-based loan is when an business owner borrows from the assets they have to make the loan. The asset can be either an individual property, such as the family home, or an company asset like a truck or piece of equipment.
The majority of lending institutions, including the banks with the biggest size, prefer to make loans secured by an asset. If you are having difficulty paying back the loan then the asset could be taken over by the lender. In essence it’s a way of securing new financing by taking advantage of the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security before you are able to access the money but we require a personal guarantee. need a personal guarantee. As long as you follow the loan terms (as stated in your loan contract), asset security is not needed. For loans of over $150,000 generally there is the option of a personal guarantee and security is provided in the form of the charge of assets.
