The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Find out the eligibility requirements for our $100K to $500K company loan.
All you need to start is your contact details (the name of your company, your name, email and telephone) and the amount you’d like to borrow, and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are, but not for starting:
Once we’ve started in the process, for loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and the money could be in your account within 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. Our business loan is a cash-based loan so you will know in advance the total amount due, which includes any fees, interest or charges. This is then broken down into weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost every business need, such as the management of cash flow, company renovations, marketing, to purchase inventory or new equipment, to fund general working capital and 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. The loan ranges from $100,000 to $500,000 with a fixed-term up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the loan amount.
To be eligible for a credit of this size the business needs to be operating for at least three years, and have an annual income of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger business loan can be used to fund almost all business purpose including business renovations, purchase of equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to access funding over $150,000. It’s in the form of a charge against assets, and could include the registration of this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is general in nature, rather than defining security over a particular asset. The person signing the guarantee is personally liable if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR grants preference over private property granted according to the date a security interest was registered.
Caveats are legal form of document to offer notice of a legal claim against a property.
If you’re requesting larger company loans that exceeds $250,000, we may offer an initial pre-approval in order to ease the process. We may be able to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes you answering a few financial health questions. It’s not an offer of credit or guarantee of financing. A conditional approval is subject an exhaustive credit evaluation, and any offer that you might receive could be on different conditions.
You can apply for a business loan if you;
The application process is simple and easy. Complete the online form within a couple minutes, and a dedicated company loan specialist will call you to guide you through the process.
To apply for up $100,000 you’ll need identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) we can often provide an answer within one hour if you apply at quality company hours and you allow us to utilise the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we are able to provide a decision within the span of one business day.
For Larger Business Loans ($100K up to $500,000) we might be capable of provide you with conditional pre-approval within 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some deals have been approved within just 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours. Also, allow us to use the advance bank verification to verify your bank information online. If you decide to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer within an hour if you make your application during normal business timings and let us make use of the advanced bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statement, we’ll offer a decision within an business day.
For Larger Business Loans ($100K or more) we may be in a position to offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be faster depending on the specifics of each application. Certain deals have been approved within just 24 hours.
The fastest method is to ensure you apply during standard business hours, and permit us to use the advance bank verification to instantly verify your bank information online. If you choose to send us copies of your bank statements, it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount we consider a variety of variables for determining the well-being of the business as well as the amount of repayments your business can support. The total amount of the loan will be determined by the particular circumstances for your company.
If you apply for a set amount, we will consider a number of elements to determine how much we can lend you such as health for your company and the level of repayments that your business can support. The amount you receive from your loan will be contingent on the specifics that are unique to your company.
When you request our company loan, we’ll assess the risk profile for your company and offer you with a customised offer that includes the loan amount, the terms and interest rates. The business loan is an upfront priced loan therefore you will be aware of the total amount to be paid, including any charges, interest rates or fees.
Interest rates for business loans rates differ based on various factors including the amount borrowed, what company assets the money are used to purchase as well as the field the company operates in, the long the business has been operating as well as whether the company has sufficient cash flow to fund the loan, and overall health or creditworthiness of the company.
There aren’t any hidden charges for our business loans. You’ll know exactly how much you’ll be required to pay, and when, from the day you sign up. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments on time).
We do not charge an application fee. You can request a credit loan without any upfront costs or any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of your advance loan at any time.
If you decide to do this please call our helpful company credit experts. They will provide you with repayment details along with an early payout estimate. This will be calculated as the total of the remaining principal amount and the accrued interest up to the time of the early payout, plus 1.5 percent of the principal remaining and any outstanding fees.
To help you avoid missing due dates and also to be in line your cash flow schedule, we offer repayments that are either daily or weekly. They are automatically deducted from your designated company account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and ensure the security of your information is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to customer security and security. We employ a highly sophisticated banking verification system to instantly verify your bank account information online to provide a fast response.
The term "asset-based" refers to borrowing where a business owner utilises assets they own to obtain a loan. The asset can be an individual asset, such as the family home, or it could be a company asset such as a truck as well as a piece of machine.
The majority of lenders, including the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan, then the asset could be transferred to the lender. In essence it is a way 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 prior to the loan’s access however, we do need an individual guarantee. If you adhere to the loan terms (as detailed in the loan contract) the security of assets will never be required. For loans that exceed $150K, typically, you will need an individual ensure and security in the form an asset charge.
