The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the guidelines for eligibility for our $100K to $500K business loan.
All that’s needed for starting is your contact details (company name, your name, email and telephone), how much you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
Once we’ve started in the process, for loans greater than $150,000 you’ll require basic financial statements.
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an answer within the same day and funds may be available in just 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. Our business loan is a loan that is priced upfront therefore you’ll know in advance the total amount due, which includes the interest, fees and charges. Then, it is broken down into either a daily or weekly installment amount.
The Small Business Loan can be used for nearly every company need, such as control of cash flow company renovations, marketing to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term with a maximum of 36 months. The repayments are made weekly or fortnightly depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To be eligible for a credit of this size, your company needs to have been in operation for at least 3 years and have an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large business loan can be used to fund almost every business need, including business improvements, purchasing inventory or new equipment or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It is usually as a result of an charge on assets, and could be registered with the PPSR or making as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is generally based rather than stating security over an asset. The person signing the guarantee is personally accountable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR grants the priority of personal property granted depending on the date that a registration of a security interest.
A caveat is a legal form of document to offer an official notice of a claim to property.
If you’re seeking the Larger Business Loan of $250K or more we may be able to provide an initial pre-approval that will help simplify the process. We might be able to do this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial health checks. It is not an offer or guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you might receive could be subject to different terms.
You may be eligible for a business loan if you
The application process is quick and easy. Complete the online form in few minutes and an experienced business credit specialist will contact you to help you.
For a loan of up to $100,000, you’ll need proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll also require:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour, provided you apply within quality company time and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statements , we are able to offer an answer within just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we might be likely to provide you with a conditional pre-approval in around six hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Some offers have been approved within the space of 24 hours.
The quickest way to apply would be to ensure you apply during normal business hours, and allow us to use our modern bank verification to instantly confirm your bank details online. If you decide to upload the copies of bank statements it can take a bit longer.
For the Small Business Loan ($5K or more) we usually provide a response in one hour – as long as you submit your request in standard business time and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements, we are able to offer an answer in as little as the span of one business day.
For Larger Business Loans ($100K or more) we may be in a position to offer you with conditional pre-approval within about 6 hours. After 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 offers have been approved in 24 hours.
The fastest method is to ensure you apply during standard business hours, and permit us to use the sophisticated bank verification to verify your bank account information online. If you send us the copies of bank accounts, it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a specific amount we look at a variety of aspects to determine how much we can lend you health that is your company and the amount of repayments that your company will be able to support. The amount you receive from the loan will be determined by the specifics that are unique to your company.
When you apply for a specific amount we take into consideration a variety of aspects to determine how much we can lend you such as well-being of your company and the amount of repayments that your company is able to afford. The total amount of your loan will be determined by the specifics the business.
If you decide to request the business financing, we will assess the risk profile that you have for your company and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. A company loan is a loan that is priced upfront therefore you will know in advance the total amount payable including any interest rates, fees or charges.
Business loan interest rates depend on a variety of factors including the amount that is borrowed, what business assets the money are used to purchase and the sector the business operates in, the long the company is in operation for, in the event that the business has sufficient cash flow to fund the loan, and also the overall health or financial standing of the company.
There aren’t any hidden charges for our business loans. You’ll be aware of the amount you’ll need to pay and when, right 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 don’t charge an application fee. You are able to request a credit loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can repay the total amount of your loan early at any time.
If you choose to do this please talk to one of our helpful business loans specialists. The specialists will offer you with details for repayment and an early payment figure. It will be calculated using the total of the remaining principal amount and the accrued interest up to the time of early payment plus 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payments and to work with your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your business account.
Security of your data, and being clear about how we collect the information we collect, use, share and safeguard your data, is of huge importance and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account information online. This allows us to provide an immediate response.
Asset-based borrowing is when the company owner utilises assets they own to make the funds for a loan. The asset could be a personal asset like the family home, or an company property like a truck or piece of equipment.
The vast majority of the lenders including the largest banks, are inclined to guarantee loans against assets. If you’re struggling to pay back the loan then the asset could be transferred to the lender. In essence, it is a way of securing additional financing using the value of what you already own.
Up to $150K in loans it is not necessary to secure assets prior to the loan’s access, however we require a personal guarantee. require the personal guarantee. So long as you comply with the terms of your loan (as detailed in your loan contract) Asset security will never be needed. For loans of over $150,000 generally there is a personal ensure and security that is in the form charges on assets.
