The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Review the eligibility requirements for our $100K to $500K business loan.
All that’s required to get started is your contact details (company name, your name, email address and phone), how much you’d like to borrow, and your monthly income.
Through the process and before settlement we’ll require confirmation of who you are but not before we can begin:
Once we’ve started when it comes to loans of more than $150,000 you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes on the phone. You’ll receive an answer within the same day and funds may be on your account within 24 hours. Traditional business loans reference an annual rate of interest together with additional fees and charges. This company loan is a loan that is priced upfront therefore you’ll be aware of the total amount due, which includes the interest, fees and charges. This is then broken down into weekly or daily payment amount.
The Small Business Loan can be used for virtually every business purpose including control of cash flow business remodels and marketing for purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size, your company needs to have been in operation for at least 3 years and generate an annual revenue of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A large company loan can be used for nearly any business purpose including business renovations, purchase of inventory or new equipment, as general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. It’s by taking a charge on assets, which could also include the registration of this on the PPSR or filing a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is generally in nature rather than defining security over a particular asset. The person signing the ensure is personally responsible if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR permits the priority of personal property granted depending on the date that a security interest has been registered.
The caveat can be described as a formal document filed to provide the legal claim on a property.
When you’re applying for the Larger Business Loan of $250K or more, we may offer an initial pre-approval in order to simplify the process. We might be able to make this decision without a credit verification and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering some financial health checks. It’s in no way an offer, nor is it a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could be subject to different conditions.
You may apply for an business loan if you:
The application process is simple and easy. Just fill out the online application within a few minutes and an experienced business loan specialist will be in touch to assist you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details for application including credit consent, 12 months of bank records, IRD statements and the last two years’ finalised financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K up to $100,000) We can usually provide an answer within an hour, provided you apply within standard business timings and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements , we will be able to offer an answer in just the span of one business day.
For Larger Business Loans ($100K and up) we may be capable of offer you with conditional pre-approval in around six hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this could be shorter based upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours, and allow us to use the advanced bank verification system link to verify your bank account information online. If you send us duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we typically provide an answer within an hour if you make your application within standard business hours and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statements we can provide a decision within one business day.
For Larger Business Loans ($100K or more) We may be able to provide you with pre-approval conditional to your application in around 6 hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours. Also, allow us to use our advanced bank verification system to instantly verify your bank information online. If you upload copies of your bank accounts, it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a specific amount we consider a variety of factors for determining how much we can lend you well-being of the business as well as the amount of payments your company can support. The total amount of your loan will be contingent on the specific circumstances the business.
If you apply for a specific amount we will consider a number of factors to assess the health that is your company and the extent of repayments that your business can afford. The total amount of your loan will be contingent on the specific circumstances for your business.
When you apply for one of our company loan, we’ll assess the risk profile that you have for your company and provide you with a tailored offer, including the amount of the loan, the duration and the interest rates. This company loan is a loan that is priced upfront so you will be aware of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors like the amount of money borrowed, what company assets the money are used to purchase as well as the field the company is operating in, how long the business has been operating for, whether the company has enough cash flow to support the loan, as well as the overall well-being as well as creditworthiness company.
There are no hidden fees with our company loans, and you’ll know precisely how much you need to pay, and when, from the first day. There’s no compounding interest and there are no additional charges (as as long as you pay your payments in time).
We don’t charge an application fee. You are able to get a cash loan with no upfront cost or obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can repay all of your loan early at any time.
If you choose to do this please contact our helpful company credit experts. The professionals will provide you with the details of your repayment and an early payout figure. This 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 principal amount remaining and any fees that remain unpaid.
To make sure you do not miss payment dates and to align your cash flow schedule, we provide repayments either weekly or daily. These are automatically deducted from the nominated company account.
Protecting your information, and knowing how we collect the information we collect, use, share and protect your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We utilise a sophisticated banking verification system to instantly verify your bank account details online. This allows us to provide quick responses.
An asset-based loan is when the company owner borrows from assets they own to secure the funds for a loan. The asset may be an asset belonging to the personal, like the family home or an business asset such as a truck or piece or equipment.
The vast majority of banks, including the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, then your asset may be sold by the lender. In essence, it’s the process of securing new financing by using the value of what you already own.
For loans that exceed $150,000, no asset security is required before you are able to access the money but we do need a personal guarantee. So long as you comply with your loan obligations (as specified in the loan contract) the security of assets will never be needed. For loans over $150,000 generally, you can get personal ensure and security in the form of an asset charge.
