The requirements for obtaining an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Are you looking for additional funding? Review the conditions of eligibility for our $100K to $500K company financing.
All that’s needed for starting is your contact information (the name of your company, your name, email address and phone) as well as the amount you want to borrow, and your monthly earnings.
During the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start with loans over $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
Apply to the Small Business Loan in under 10 minutes via the internet or over the phone, receive an answer within the same day and funds may be on your account within 24 hours. Traditional company loans reference an interest rate per annum plus other fees and charges. Our company loan is a pre-paid loan and you’ll be aware of the total amount due, which includes the interest, fees and charges. Then, it is divided into a daily or weekly payment amount.
It is a Small Business Loan can be used to fulfill almost any company use, including managing cash flows, business improvements, advertising to purchase inventory or new equipment, for general working capital and so 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 business expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of 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, calculated 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 and have an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger business loan is a great option for almost any business need, including business renovations, purchase of new equipment or inventory for general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed to obtain funding above $150,000. This can be done by taking a charge over assets, and could include registering this in the PPSR or registering a caveat.
A personal or director’s ensure is a promise to repay credit that is general in nature, rather than specifying the security for a particular asset. The person who signs the ensure is personally liable if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR permits preference over private property assigned according to the date a security interest has been registered.
Caveats are legal form of document to provide the public notice of a legal claim against a property.
If you’re seeking a Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval that will help simplify the process. We may be able to do this without a credit check, and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial health questions. This is not an offer of credit or guarantee of finance. A conditional approval is subject a full credit assessment and any offer you might receive could be on different terms.
You can apply for a company loan if you:
The application process is quick and easy. Just fill out the online application within a couple minutes, and a dedicated company expert in lending will be in touch to guide you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s License) as well as an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent as well as 12 months of bank records, IRD statements and the last two years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we typically offer an answer within an hour – as long as you make your application within quality business timings and let us use the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements we can provide an answer within just the span of one company day.
If you are applying for a Larger Business Loan ($100K to $500K) we might be in a position to offer you with pre-approval conditional to your application within about 6 hours. After you’ve signed your 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 quickest method can be make sure you apply during standard company hours, and permit us to use the modern bank verification link to instantly check your bank’s information online. If you decide to upload duplicates of your banking accounts, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within an hour if you make your application during standard business hours and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statements we can provide the 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 around six hours. Once you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, this could be shorter based on the circumstances of each application. Certain offers have been approved in less than 24 hours.
The fastest way would be to ensure you apply during standard business hours. Also, allow us to use our advanced bank verification system link to verify your bank account information online. If you choose to send us documents from your account statements it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. If you apply for a certain amount, we take into consideration a range of factors in order to assess the well-being of your business and the amount of the repayments your business will be able to support. The amount you receive from the loan will be determined by the particular circumstances for your business.
When you apply for a particular amount, we look at a range of elements to determine how much we can lend you such as health that is your company and the extent of the repayments your business will be able to support. The amount you receive from your loan will be determined by the specific circumstances the company.
When you apply for one of our company loan, we’ll assess the risk assessment of your business and provide you with a customised offer including loan amount, term and interest rates. The business loan is a loan that is priced upfront so you will be aware in advance of the total amount due, which includes any charges or interest.
Business loan interest rates differ based on various factors like the amount of money that is borrowed, what business assets the money are used to purchase as well as the field the company is in, how long the business has been running and in the event that the company has enough cash flow to fund the loan, as well as the overall well-being as well as creditworthiness business.
There aren’t any hidden costs with our company loans. You’ll know exactly how much you’ll need to pay, and when, from day one. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You are able to get a cash loan with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a 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 total amount of your loan at any point in time.
If you do decide to take this route, please contact our helpful business lending experts. We will offer you with repayment details and an early payment figure. This is calculated as the total of the remaining principal amount and accrued interest to the time of early payment in addition to 1.5% of the principal balance plus any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments either daily or weekly. They will be automatically deducted from your business account.
Making sure that your information is secure, and being transparent about the ways we gather the information we collect, use, share and safeguard your data, is of huge importance and is an essential part of our relationship you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and security. We utilise a sophisticated banking verification system to immediately confirm your bank account information online to provide rapid response.
Asset-based borrowing occurs when an business owner uses assets they own to secure the loan. The asset may be an individual property, such as the family home, or an business property like a truck or other piece of machinery.
The majority of banks, even the big banks, tend to make loans secured by assets. If you’re struggling to pay back the loan then your assets could be transferred to the lender. In essence it is an opportunity to secure new funding using the worth of the asset you already own.
For loans of up to $150,000, there is no requirement for asset security in advance to gain access to the funds, however we do need an individual guarantee. As long as you follow the terms of your loan (as stipulated in the loan contract) the security of assets will never be required. For loans that exceed $150K, generally there is a personal ensure and security is provided in the form of charges on assets.
