The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Find out the eligibility requirements for our $100K-$500K business credit.
All that’s needed to get started is your contact details (the name of your company and your name, as well as email or phone number) along with the amount you want to borrow, as well as your monthly income.
During the process and before settlement we will require confirmation of who you are, but not for starting:
Once we’ve started in the process, for loans over $150,000 you’ll require the following 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, which are either daily or weekly.
You can apply to get this Small Business Loan in under 10 minutes on the internet or by phone. You will receive an immediate response, and funds may be in your account in 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. This company loan is a cash-based loan therefore you’ll know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
It is a Small Business Loan can be used for nearly any business need, such as managing cash flows, business remodels and marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To be eligible for a credit in this amount, your company needs to be trading for at least 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large business loan can be used to fund almost any company use, including business improvements, purchasing new equipment or inventory or as general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for accessing funds over $150,000. It is usually by taking a charge over assets, and may include the registration of this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally based rather than stating the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date the security interest has been registered.
A caveat is a legal form of document to offer notice of a legal claim to property.
If you’re seeking a Larger Business Loan of $250,000 or more, we may offer an initial pre-approval in order to ease the process. We could be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial health questions. It is in no way an offer, nor is it a guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer you may receive may have different conditions.
You may apply for an company loan if you:
The process for applying is fast and simple. Just fill out the online application within a few minutes and a dedicated company loan specialist will call you to guide you through the process.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s License) and a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, as well as interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K and up) we typically offer an answer within an hour – as long as you apply during standard business hours and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we will be able to provide the decision within 1 company day.
For Larger Business Loans ($100K or more) we may be in a position to offer you with conditional pre-approval within about six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some offers have been approved within just 24 hours.
The quickest method is to ensure you apply during normal business hours, and allow us to use our advanced bank verification system link to verify your bank information online. If you choose to upload documents from your account statement, it takes a bit longer.
For the Small Business Loan ($5K or more) we typically provide an answer in just one hour – as long as you submit your request at standard business timings and you allow us to use the bank verification system link to instantly verify your bank details online. If you opt to upload copies of your bank statements we can offer the decision within 1 business day.
If you are applying for Larger Business Loans ($100K and up) we may be in a position to provide you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Certain deals have been approved in less than 24 hours.
The most effective method for you to apply is make sure you apply during standard business hours. You can also allow us to use the modern bank verification to instantly verify your bank account information online. If you opt to send us documents from your account statement, it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a certain amount we look at a variety of variables that determine how much we can lend you health for your business and the level of the repayments your company will be able to support. The amount you receive from your loan will depend on the specifics the company.
When you apply for a particular amount, we consider a variety of variables to determine your health of the business and the amount of repayments that your company can afford. The amount you receive from your loan will depend on the particulars the company.
When you request the business credit, we will assess the risk profile the business and offer you with a customised offer including the amount of the loan, the duration and the interest rates. The company loan is an upfront-priced loan therefore you will be aware in advance of the total amount due, which includes any interest rates, fees or charges.
Interest rates for business loans rates vary due to factors like the amount of money borrowed, what business assets the funds are used to purchase as well as the field the company is in, how long the business has been in operation and in the event that the company has enough cash flow to cover the loan, and the general health or creditworthiness of the company.
There are no hidden costs with our business loans, and you’ll know precisely how much you’ll need to pay, and when, starting from the very first day. There’s no compounding interest and there are no additional charges (as as you make your payments punctually).
We do not charge an Application Fee. You can get a cash loan with with no upfront cost or the obligation to take action.
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. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of the loan early at any time.
If you decide to take this route, please talk to one of our helpful business loan specialists. They will offer you with repayment details as well as an early payout amount. It will be calculated using the sum of the principal remaining and any accrued interest at the time of the early payout, plus 1.5 percent of the principal balance as well as any outstanding fees.
To make sure that you don’t miss payment dates and to align your cash flow cycle we offer repayments either daily or weekly. They are automatically deducted from your business account.
Making sure that your information is secure, and making it clear the ways we gather the information we collect, use, share and secure your information, is vital and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We use an advanced bank verification system to instantly verify your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where the company owner utilises assets they own to get the funds for a loan. The asset can be either an individual asset, such as the family home, or an business asset such as a vehicle as well as a piece of machine.
The vast majority of the lenders even the big banks, tend to make loans secured by an asset. If you are having difficulty paying back the loan, then your asset may be offered for sale by the lender. In essence it is the process of securing additional financing using the value of what you already have.
Up to $150K in loans the requirement for asset security is not required upfront to access the money However, we do need the personal guarantee. As long as you follow the terms of your loan (as stipulated in your loan contract) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150,000, generally there is an individual guarantee and security in the form an asset charge.
