The eligibility requirements for 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 guidelines for eligibility for our $100K-$500K business loans.
All that’s required for starting is your contact information (company name, your name, email, phone), how much you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start, for loans over $150,000 you’ll also need fundamental financial statements:
Let’s get started now.
Brisbane unsecured loans provides 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.
It is imaginable to apply to get the Small Business Loan in under 10 minutes via the internet or over the phone, receive an immediate response, and the money could be available in just 24 hours. Traditional business loans have an annual interest rate as well as other fees and charges. This business loan is a pre-paid loan so you will know in advance the total amount due, which includes any interest, fees or charges. Then, it is divided into a daily or weekly payment amount.
It is a Small Business Loan can be used for virtually any business reason, such as control of cash flow company improvements, advertising, to purchase inventory or new equipment, or as general working capital and 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. Loans are between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
To qualify for a loan of this size the business needs to be in operation for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Business Loan of a larger size can be used for almost every business purpose including business renovations, purchase of new equipment or inventory or as general working capital and much more. The loan is not available for personal purposes.
Asset security is necessary to obtain funding above $150,000. It’s as a result of an charge over assets and can include registration through 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 defining the security of a specific asset. The person who is signing the guarantee is personally responsible if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted depending on the date that a security interest that is registered.
A caveat is a legal document that is filed to provide the public notice of a legal claim to property.
When you’re applying for an enterprise loan that is greater than $250,000, we may offer an initial pre-approval to ease the process. We could be able to get this done without a credit verification and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial well-being questions. It’s not an offer or guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you may receive may be based on different conditions.
You are eligible to apply for a company loan if you;
The application process is quick and easy. Just complete the online application in few minutes and an experienced company loan specialist will be in touch to help you.
For a loan of up to $100,000, you’ll need identification details (valid Driver’s Licence) and an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically provide an answer within one hour – as long as you make your application at standard business times and allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to send us copies of your bank statement, we’ll offer an answer within an business day.
If you are applying for a Larger Business Loan ($100K or more) we could be capable of offer you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Some transactions have received approval in the space of 24 hours.
The fastest way is to ensure you apply during normal company hours. You can also permit us to use the advanced bank verification system to instantly verify your bank account information online. If you opt to send us copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer in just one hour if you submit your request in standard business hours and permit us to use the bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll offer the decision within an business day.
For Larger Business Loans ($100K and up) We may be in a position to offer the conditional pre-approval within six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved within just 24 hours.
The most effective method is to make sure you apply during standard business hours. You can also allow us to use our sophisticated bank verification to instantly verify your bank account information online. If you upload the copies of bank statements, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of aspects for determining what is the health for your company and the level of payments your company is able to afford. The amount you receive from your loan will depend on the particular circumstances of your company.
When you submit an application for a set amount, we will consider a number of variables to assess your health for your business as well as the amount of payments your company will be able to support. The total amount of your loan will be contingent on the specific circumstances for your company.
If you decide to request one of our business financing, we’ll assess the risk profile of your company and offer an individualised offer, including the amount of loan, the term and the interest rates. This business loan is a loan that is priced upfront which means you know in advance the total amount you will have to pay, including charges, interest rates or fees.
The interest rates on company loans rates depend on several factors such as the amount that is borrowed, what company assets the funds are used to purchase, the industry the company operates in, how long the company has been in operation for, how long the company has enough cash flow to support the loan, and also the overall well-being or financial standing of the business.
There are no hidden costs with our company loans, and you’ll be aware of the amount you need to pay and when, starting from the very first day. There’s no compounding interest and no additional fees (as long as you make your payments in time).
We do not charge an Application Fee. You can apply for a loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You may choose to pay back the entire amount of the loan at any point in time.
If you decide to take this route, please speak to our friendly business loan professionals. We will offer you with the details of your repayment as well as an early payout amount. The figure will be calculated as the sum of the remaining principal amount and accrued interest to the time of early payout plus 1.5% of the principal balance as well as any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either weekly or daily. They will be automatically deducted from the nominated business account.
Making sure that your information is secure, and being clear about how we collect, use, exchange and protect your information, is of huge importance and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We utilise a sophisticated bank verification system link to instantly verify your bank account details online, allowing us to offer rapid response.
Asset-based borrowing occurs when the business owner utilises an asset that they own to secure a loan. The asset can be an individual asset, such as the family home, or it could be a business asset such as a truck or other piece of machinery.
The vast majority of lending institutions, even the major banks, prefer to make loans secured by assets. If you are having difficulty paying back the loan then your assets could be transferred to the lender. In essence, it’s a way of securing new financing using the value of what you already have.
For loans of up to $150K, it is not necessary to secure assets in advance to gain access to the funds However, we do require the personal guarantee. If you adhere to your loan obligations (as stipulated in your loan contract document) Asset security is not required. For loans of over $150K typically, you will need a personal guarantee and security in the form of an asset charge.
