The requirements for obtaining an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K-$500K business credit.
All you need to start is your contact details (the name of your company, your name, email and telephone), how much you’d like to borrow, and your monthly income.
While in the process and before settlement we’ll need confirmation of your identity, but not for starting:
Additionally after we get started, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
You can apply to this Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and have the funds in your account in 24 hours. Traditional business loans reference an annual rate of interest as well as other fees and charges. Our business loan is a pre-paid loan and you’ll know in advance the total amount to be paid, including any fees, interest or charges. Then, it is divided into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for almost any business purpose including the management of cash flow, business renovations, marketing to purchase inventory, new equipment, for general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan that is this large the business needs to be operating for at least three years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger company loan is a great option for almost any business use, including business renovations, to purchase new equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This is in the form of a charge on assets, and may include the registration of this on the PPSR or filing as a caveat.
A director’s or personal guarantee is a promise to repay a loan which is generally in nature rather than defining the security of a specific asset. The person who signs the guarantee is personally responsible if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including items or assets). The PPSR allows prioritisation over property that is personal to be assigned according to the date a security interest that is registered.
An affidavit is an official document that is filed to offer the legal claim against a property.
If you’re applying for the Larger Business Loan of $250K or more we can offer an initial pre-approval in order to ease the process. It is possible to make this decision without a credit check and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves the answer to a series of financial well-being questions. It is not an offer or guarantee of financing. A conditional approval is subject an exhaustive credit evaluation, and any offer you receive could have different terms.
You are eligible to apply for a business loan if you
The application process is fast and easy. Simply complete the online form in just a few minutes, and an experienced company lending specialist will contact you to guide you.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s License) and an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Application details including credit consent and 12 months of bank records, IRD statement and the last two years’ finalised financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically provide an answer within one hour – as long as you apply within standard company times and you allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you choose to submit copies of your bank statements , we’ll be able to offer a decision within just an company day.
For Larger Business Loans ($100K to $500K) we could be capable of offer you with pre-approval conditional to your application within about six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based upon the circumstances for each application. Certain agreements have been approved in less than 24 hours.
The most efficient method can be make sure you apply during standard business hours and let us use the advance bank verification link to instantly check your bank’s information online. If you decide to upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within an hour – provided you submit your request within normal business times and let us make use of 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 the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K or more) we may be in a position to provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this can be faster depending on the particular circumstances of each application. Some agreements have been approved in just 24 hours.
The fastest method can be ensure you apply during normal business hours and permit us to use the advance bank verification link to instantly check your bank’s information online. If you send us copies of your bank statements it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. When you submit an application for a certain amount we take into consideration a range of aspects in order to assess how much we can lend you health of your company and the level of repayments your business can support. The total amount of your loan will be contingent on the specific circumstances the company.
When you make an application for a certain amount, we consider a variety of factors to assess your well-being that is your business and the extent of payments your business can support. The amount you receive from your loan will be determined by the particular circumstances the company.
When you request our business loans, we will assess the risk profile the business and offer an individualised offer including loan amount, term and interest rates. A business loan is an upfront-priced loan so you will be aware in advance of the total amount to be paid, including any charges or interest.
The interest rates on company loans rates differ based on various variables like the amount to be of money borrowed, the business assets the money will be used for and the sector the business operates in, the long the company has been in operation for, how long the business has enough cash flow to fund the loan, and general health or financial standing of the business.
There are no hidden fees with our business loans. You’ll know precisely how much it is that you need to pay, and at what time, from the first day. There’s no 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 can apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose 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 company loans specialists. The professionals will provide you with details for repayment as well as an early payout amount. The figure will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of early payout and 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from the nominated company account.
Security of your data, and being upfront about the ways we gather information, use it, and exchange it, as well as ensure the security of your information is vital and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to customer security and security. We use an advanced banking verification system to immediately verify your bank account information online so we can provide an immediate response.
Asset-based borrowing occurs when an business owner utilises assets they own to make a loan. The asset can be either a personal asset like the family home, or an business asset such as a truck or piece of equipment.
The majority of banks, not just the largest banks, are inclined to guarantee loans against an asset. If you are having difficulty paying back the loan then the asset could be offered for sale by the lender. In essence, it’s the process of securing additional financing using the value of what you already own.
For loans up to $150K there is no requirement for asset security in advance to gain access to the funds but we require a personal guarantee. require the personal guarantee. So long as you comply with your loan obligations (as stated in your loan contract), asset security is not required. For loans that exceed $150K, typically, you will need a personal guarantee and security is provided in the form of the charge of assets.
