The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K to $500K company loans.
All you need for starting is your contact information (the name of your company, your name, email and phone) and the amount you want to borrow, as well as your monthly income.
In the course of 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 of more than $150,000 you’ll need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
The application for the Small Business Loan in under 10 minutes by phone. You will receive an instant response and have the funds in your account within 24 hours. Traditional company loans reference an interest rate per annum as well as other fees and charges. This business loan is a pre-paid loan therefore you’ll know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into weekly or daily payment amount.
A Small Business Loan can be used for almost every company reason, such as cash flow management, company remodels and marketing for purchasing inventory or new equipment, or as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large, your company needs to be trading for at least 3 years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan is a great option for almost every business reason, such as business improvements, purchasing new equipment or inventory as well as for general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge over assets, and may include registration through the PPSR or making as a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is general in nature rather than defining security over a particular asset. The person signing the guarantee is personally liable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests that are registered for personal property (including objects or assets). The PPSR allows the priority of personal property assigned according to the date the security interest has been registered.
A caveat is a legal document lodged to offer notice of a legal claim to a property.
If you’re applying for the Larger Business Loan that is greater than $250,000, we may offer a preliminary pre-approval to help smooth out the process. We might be able to make this decision without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves answering a couple of financial health questions. This is not an offer or guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you receive could be based on different conditions.
You may apply for an company loan if you
The process for applying is fast and simple. Just complete the online application within a couple minutes, and a dedicated business loan specialist will be in touch to help you.
For a loan of up to $100,000 you’ll require ID details (valid Driver’s Licence) along with a valid NZBN/IRD and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent and 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim current financial year financials as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) We can usually provide a response in one hour – as long as you make your application in standard business timings and let us utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to send us copies of your bank statement, we’ll provide the decision in just 1 business day.
For the Larger Business Loan ($100K and up) we could be likely to offer the conditional pre-approval in about six hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Certain transactions have received approval within just 24 hours.
The quickest way to apply for you to apply is make sure you apply during normal company hours. Also, allow us to use the advanced bank verification system to instantly check your bank’s information online. If you decide to upload duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer within one hour, provided you make your application in standard business times and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements, we will be able to offer a decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be in a position to offer you with conditional pre-approval within 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Some transactions have received approval in just 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours, and allow us to use the modern bank verification link to confirm your bank details online. If you choose to send us documents from your account statement, it will take a little longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a particular amount, we look at a variety of aspects that determine the health of your company as well as the amount of repayments that your company can afford. The amount you receive from the loan will be determined by the specifics the business.
When you make an application for a set amount, we consider a variety of aspects to determine your well-being of your company and the amount of payments your business can support. The total amount of your loan will depend on the particular circumstances that are unique to your company.
When you make an application for the business loans, we will assess the risk assessment the company and offer you with a tailored offer, including the loan amount, the terms and the interest rates. This business loan is an upfront priced loan so you will be aware in advance of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates vary due to factors including the amount borrowed, what business assets the funds will be used for in addition to the industry that the company operates in, how long the company has been in operation as well as in the event that the business has sufficient cash flow to pay for the loan, and overall health as well as creditworthiness business.
There are no hidden costs for our business loans, and you’ll know exactly how much you’ll need to pay, and when, right from the day you sign up. There’s no compounding and there are no additional charges (as 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 commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the entire amount of your loan at any point in time.
If you do decide to take this route, please contact our helpful business lending specialists. We will offer you with details for repayment and an early payout figure. The figure will be calculated as the sum of the remaining principal amount plus any accrued interest as of the time of the early payout, plus 1.5 percent of the principal balance and any fees that remain unpaid.
To help you avoid missing due dates and also to be in line with your cash flow standard, we provide payments that are either weekly or daily. These are automatically withdrawn from the nominated company account.
Security of your data, and being transparent about how we collect data, process, exchange and protect your information, is of huge importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to customer security and privacy. We make use of an advanced bank verification system to immediately confirm your bank account information online so we can offer an immediate response.
Asset-based borrowing is when an business owner utilises an asset they own to secure a loan. The asset can be either an individual asset, such as the family home, or an business asset like a truck or piece or equipment.
The vast majority of the lenders even the largest banks, are inclined to make loans secured by assets. If you’re having trouble paying back the loan, your asset may be transferred to the lender. In essence, it’s an opportunity to secure new financing taking advantage of the value of what you already have.
For loans up to $150K the requirement for asset security is not required in advance to gain access to the funds however, we do require a personal guarantee. If you adhere to the loan terms (as stated in your loan contract document) Asset security will never be required. For loans of over $150,000 typically, you will need the option of a personal ensure and security in the form of a charge over assets.
