The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K company loans.
All that’s needed to start is your contact details (company name, your name, email and telephone) and the amount you’d like to borrow, and your monthly earnings.
In the course of the process and before settlement we will require confirmation of who you are, but not for starting:
Once we’ve started with loans that exceed $150,000, you will also require basic financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and have the funds in your account within 24 hours. Traditional business loans have an interest rate per annum together with additional fees and charges. This business loan is a pre-paid loan therefore you’ll be aware in advance of the total amount due, which includes the interest, fees and charges. This is then broken down into a daily or weekly installment amount.
The Small Business Loan can be used for nearly any company purpose including control of cash flow business remodeling, marketing to purchase inventory, new equipment, to fund general working capital and so 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 business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your company needs to be operating for a minimum of 3 years, and have an annual income of $700,000. Your company must belong to 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 demonstrate at minimum 12 months of business.
A large business loan is a great option for almost every business need, including company renovations, to purchase inventory or new equipment as well as for general working capital, and much more. The loan is not available for personal reasons.
Asset security is required to access funding over $150,000. It’s as a result of an charge over assets and can include the registration of this on the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is generally in nature rather than specifying security over a particular asset. The person who is signing the ensure is personally liable in the event that the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run 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.
An affidavit is an official form of document to offer the legal claim to a property.
If you’re requesting the Larger Business Loan of more than $250K we may be able to provide an initial pre-approval to smooth out the process. It is possible to do this without credit checks and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial well-being checks. It’s neither an offer nor a guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you might receive could be on different terms.
You may be eligible for an business loan if you;
The application process is fast and easy. Just complete the online application within a few minutes and an experienced company credit specialist will call you to guide you through the process.
To be eligible for up to $100,000, you’ll require ID details (valid Driver’s Licence) along with an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statement, last 2 years finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within one hour if you apply in standard company time and permit us to utilise 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 are able to provide the decision within just one company day.
For the Larger Business Loan ($100K and up) we might be in a position to offer you with pre-approval conditional to your application within 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be quicker based on the specifics of each application. Some agreements have been approved within 24 hours.
The quickest way to apply can be ensure you apply during standard business hours. You can also allow us to use our modern bank verification link to instantly confirm your bank details online. If you send us documents from your account accounts, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within one hour if you submit your request in standard business times and permit us to make use of the advanced bank verification system to instantly verify your bank information online. If you want to send us copies of your bank statements, we’ll be able to provide a decision in just an business day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to provide you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the particular circumstances of each application. Certain offers have been approved within 24 hours.
The quickest method is to make sure you apply during standard business hours. You can also let us use the advance bank verification to instantly confirm your bank details online. If you upload duplicates of your banking statement, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of aspects that determine the well-being that is your business and the amount of payments your company will be able to support. The total amount of the loan will be determined by the particular circumstances the business.
When you make an application for a certain amount, we take into consideration a variety of aspects to assess your well-being of your company and the level of the repayments your business can afford. The total amount of the loan will be determined by the particular circumstances that are unique to your business.
If you decide to make an application for our company financing, we will assess the risk assessment for your business and provide you with a tailored offer including loan amount, term and the interest rates. The company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any charges, interest rates or fees.
Business loan interest rates depend on a variety of factors including the amount that is borrowed, what company assets the funds are used to purchase as well as the field the company is operating in, how long the company has been operating and how long the business has enough cash flow to pay for the loan, as well as the general well-being and creditworthiness of the company.
There aren’t any hidden costs with our company loans, and you’ll be aware of the amount it is that you be required to pay and at what time, from the first day. There’s no compounding and no extra fees (as long as you make your payments punctually).
We do not charge an Application Fee. You can make an application for loans with absolutely no upfront cost and no 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. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you decide to do this please speak to our friendly company loan professionals. They will offer you with details on repayment and an early payout figure. This is calculated as the sum of the principal amount remaining and the accrued interest up to the time of the 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 your cash flow schedule, we provide repayments either weekly or daily. They will be automatically deducted from your business account.
The security of your personal information, as well as being clear about how we collect, use, exchange and secure your information, is crucial and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to security for our clients and security. We utilise a sophisticated banking verification system to instantly confirm your bank account information online. This allows us to provide quick responses.
Asset-based borrowing is when the company owner uses an asset they own to secure the funds for a loan. The asset can be either an asset belonging to the personal, like the family home, or a business asset like a truck or piece of equipment.
The vast majority of lenders, even the major banks, prefer to secure loans against assets. If you’re having trouble paying back the loan then your asset may be transferred to the lender. In essence, it’s means of securing new financing by using the worth of the asset you already own.
For loans up to $150K there is no requirement for asset security in advance to gain access to the funds However, we do need an individual guarantee. If you adhere to the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150,000 generally, you can get the option of a personal ensure and security that is in the form an asset charge.
