The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Find out the guidelines for eligibility for our $100K to $500K business loan.
All that’s needed to begin is your contact information (the name of your company and your name, as well as email and telephone) and the amount you want to borrow, and your monthly income.
While in the process and before settlement we will need confirmation of your identity, however, not in order to begin:
Once we’ve started in the process, for loans of more than $150,000 you’ll need the following 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 on the internet or over the phone. You’ll get an instant response and have the funds in your account within 24 hours. Traditional business loans have an interest rate per annum plus other fees and charges. Our business loan is a loan that is priced upfront therefore you’ll know ahead of time the total amount payable including any fees, interest or charges. Then, it is divided into a daily or weekly installment amount.
A Small Business Loan can be used for virtually any business purpose including cash flow management, company renovations, marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5% of the loan amount.
To qualify for a loan of this size, your business needs to have been trading for at least 3 years, and have an annual income of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger company loan can be used for almost every company use, including company remodeling, buying 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 obtain funding above $150,000. This is by taking a charge over assets, and could be registered with the PPSR or making as a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally based rather than stating security over a particular asset. The person signing the guarantee is personally accountable if the company the borrower fails to re-pay the debt.
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 items or assets). The PPSR gives preference over private property granted in accordance with the date on which a security interest was registered.
The caveat can be described as a formal document that is filed to offer the legal claim to property.
If you’re applying for the Larger Business Loan of more than $250,000 it is possible to offer an initial pre-approval to smooth out the process. We might be able to apply for this without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes you answering some financial health checks. It’s not an offer or guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer you may receive may be based on different terms.
You are eligible to apply for an business loan if you:
The application process is fast and easy. Just fill out the online application in just a few minutes, and a dedicated business loan specialist will call you to guide you through the process.
To apply for up $100,000, you’ll require identification details (valid Driver’s License), an active NZBN/IRD, and at least 6 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 bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Information on the application including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K to $100K) we can often offer an answer within one hour if you make your application in quality company times and let us utilise the bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements we can offer a decision in just one company day.
For Larger Business Loans ($100K and up) we may be in a position to offer you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain agreements have been approved within just 24 hours.
The quickest method for you to apply is ensure you apply during standard company hours, and allow us to use our modern bank verification link to instantly verify your bank information online. If you choose to send us the copies of bank statement, it takes a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer within one hour – provided you make your application at standard business times and you allow us to use the advanced 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 provide a decision in as little as 1 business day.
For Larger Business Loans ($100K and up) we may be able to provide the conditional pre-approval in around six hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours. You can also permit us to use the advanced bank verification system to instantly confirm your bank details online. If you opt to send us documents from your account statement, it will take a little longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a particular amount, we take into consideration a range of aspects to determine the health for your business and the level of the repayments your business can afford. The amount you receive from the loan will be determined by the specifics of your company.
When you make an application for a particular amount, we will consider a number of aspects to assess your health of your business and the extent of repayments that your business will be able to support. The total amount of the loan will be determined by the specific circumstances of your business.
When you apply for our company credit, we will assess the risk profile of your company and offer an individualised offer that includes the amount of the loan, the duration and interest rates. A business loan is a loan that is priced upfront which means you know the exact amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates depend on a variety of factors including the amount that is borrowed, what business assets the funds will be used for in addition to the industry that the business operates in, how long the business has been operating, in the event that the company has enough cash flow to pay for the loan, and the general health or creditworthiness of the company.
There are no hidden costs with our business loans. You’ll know precisely what it is that you be required to pay and when, right from the very first day. There’s no compounding interest, and no extra fees (as long as you make your payments punctually).
We don’t charge an Application Fee. You can apply for a loan with no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can choose to repay the entire amount of the loan early at any time.
If you decide to do this please call our helpful business loan professionals. They will provide you with repayment details and an early payment figure. The figure will be calculated as the sum of the principal balance and any accrued interest at the date of early payout and 1.5 percent of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your nominated company account.
The security of your personal information, as well as knowing the ways we gather, use, exchange and protect your information, is of huge importance and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We make use of an advanced bank verification system to immediately verify your bank account information online so we can provide a fast response.
The term "asset-based" refers to borrowing where a company owner utilises an asset that they own to get the funding. The asset may be an asset belonging to the personal, like the family home or a business asset such as a truck or piece or equipment.
The majority of lenders, including the largest banks, are inclined to make loans secured by an asset. If you have trouble paying back the loan, then your assets could be taken over by the lender. In essence it’s means of securing new financing making use of the value of what you already own.
Up to $150,000 in loans it is not necessary to secure assets before you are able to access the money but we require a personal guarantee. require an individual guarantee. So long as you comply with the terms of your loan (as stipulated in your loan contract) Asset security is not required. For loans of over $150K typically, you will need an individual guarantee and security in the form the charge of assets.
