The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K-$500K business credit.
All that’s required for starting is your contact information (company name, your name, email, phone) and the amount you want to borrow, and your monthly revenue.
During the process and before settlement we’ll need confirmation of who you are but not for starting:
After we start with loans over $150,000 you’ll also require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
The application for this Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and have the funds available in just 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. Our business loan is an upfront priced loan therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. Then, it is broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually any business reason, such as control of cash flow business renovations, marketing for purchasing inventory or new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan in this amount the company needs to have been trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan can be used for nearly any business reason, such as company remodeling, buying inventory or new equipment as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is required for accessing funds over $150,000. This is in the form of a charge against assets, and could include the registration of this through the PPSR or filing as a caveat.
A director’s or personal ensure is a commitment to repay credit that is generally based rather than specifying security over a particular asset. The person who signs the guarantee is personally accountable if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted in accordance with the date on which a registration of a security interest.
A caveat is a legal document that is filed to provide notice of a legal claim to a property.
If you’re requesting an enterprise loan that is greater than $250K we can offer an initial pre-approval in order to simplify the process. We could be able to do this without a credit check, and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes the answer to a series of financial health questions. It is not an offer of credit or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you are offered could be on different conditions.
You are eligible to apply for a company loan if you;
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and a dedicated business expert in lending will contact you to assist you.
To be eligible for up to $100,000, you’ll need ID details (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Application requirements, 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 as well as 12 months of bank records, IRD statements, last 2 years finalised financial statements, as well as interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K to $100K) we can often provide an answer in just one hour, provided you apply at standard company hours and allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements , we are able to offer the decision in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be likely to offer you with a conditional pre-approval in around six hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain deals have been approved within the space of 24 hours.
The most effective method would be to ensure you apply during standard business hours, and permit us to use the advance bank verification link to instantly verify your bank account information online. If you choose to upload duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer in just one hour, provided you make your application in normal business times and let us utilise the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your bank statement, we’ll offer a decision within an business day.
For the Larger Business Loans ($100K and up) we may be likely to provide you with a conditional pre-approval in about six hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved within 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours and permit us to use the modern bank verification to verify your bank information online. If you choose to upload documents from your account statements it takes a bit longer.
We provide loans ranging from $5,000 and $500,000. When you submit an application for a certain amount we take into consideration a range of aspects that determine what is the well-being of your company and the level of payments your company will be able to support. The amount you receive from the loan will be determined by the particular circumstances the business.
When you submit an application for a particular amount, we take into consideration a variety of aspects to assess the health for your company and the amount of payments your business can support. The amount you receive from the loan will be determined by the specifics of your company.
If you decide to make an application for business loans with us business credit, we’ll assess the risk profile that you have for your business and provide you with a customised offer including the loan amount, the terms and the interest rates. A company loan is an upfront cost loan which means you know in advance the total amount payable including any interest rates, fees or charges.
Business loan interest rates differ based on various variables like the amount to be that is borrowed, what business assets the money will be used for in addition to the industry that the business is operating in, how long the company has been in operation as well as what percentage of the company has enough cash flow to cover the loan, and also the general health or financial standing of the company.
There are no hidden fees with our business loans. You’ll know precisely what you’ll need to pay and when, starting from day one. There’s not any compounding interest and the loan comes with no additional fees (as long as you make your payments in time).
We do not charge an Application Fee. You can make an application for loans without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing 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 loan amount.
You can decide to repay the entire amount of the loan in full at any time.
If you decide to take this route, please talk to one of our helpful company loans experts. We will provide you with the details of your repayment and an early payout figure. It will be calculated using the sum of the principal remaining and the accrued interest up to the time of early payment plus 1.5% of the remaining principal plus any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow routine, we offer repayments either weekly or daily. These are automatically withdrawn from your business account.
Protecting your information, and making it clear how we collect, use, exchange and secure your information, is crucial and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We employ an exceptionally sophisticated bank verification system to instantly confirm your bank account information online. This allows us to offer an immediate response.
The term "asset-based" refers to borrowing where a business owner borrows from an asset that they own to secure the loan. The asset can be either a personal asset like the family home, or it could be a company property like a truck or piece or equipment.
The majority of the lenders even the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan, then your asset may be offered for sale by the lender. In essence it is the process of securing new financing by using the worth of the asset you already own.
For loans of up to $150K, the requirement for asset security is not required in advance to gain access to the funds but we do require the personal guarantee. If you adhere to the loan terms (as detailed in your loan contract) the security of assets is not needed. For loans over $150K generally there is an individual guarantee and security in the form charges on assets.
