The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the eligibility requirements for our $100K-$500K company loan.
All that’s needed for starting is your contact details (company name, your name, email address and phone) along with the amount you want to borrow, as well as your monthly income.
During the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
After we start in the process, for loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
It is possible to apply for this Small Business Loan in under 10 minutes online or on the phone. You’ll receive an instant response and have the funds on your account within 24 hours. Traditional business loans refer to an annual rate of interest along with other charges and fees. This company loan is a loan that is priced upfront and you’ll be aware of the amount you will have to pay, including any fees, interest or charges. This is then divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly any business need, such as the management of cash flow, business remodeling, marketing to purchase inventory, new equipment, to fund 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 expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the loan amount.
To qualify for a loan in this amount, your company needs to have been trading for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for nearly all business reason, such as company renovations, purchase of new equipment or inventory as well as for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for funding of more than $150,000. This can be done as a result of an charge over assets and can include the registration of this through the PPSR or filing as a caveat.
A director’s or personal ensure is a commitment to repay a loan which is generally based rather than defining security over a particular asset. The person who signs the ensure is personally liable in the event that the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be granted according to the date a security interest has been registered.
An affidavit is an official document that is filed to provide notice of a legal claim to property.
If you’re applying for an enterprise loan that is greater than $250,000, we may offer an initial pre-approval in order to ease the process. We could be able to apply for this without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial well-being checks. It’s neither an offer nor a guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer that you are offered could be based on different terms.
You may apply for an business loan if you;
The application process is fast and easy. Complete the online form within a few minutes and a dedicated company loan specialist will be in touch to guide you through the process.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s License) and an NZBN/IRD that is valid and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K – $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent, 12 months of bank records, IRD statements, last 2 years finalised financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) we typically offer an answer within an hour if you apply in quality business times and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to submit copies of your bank statements , we’ll be able to provide an answer in just the span of one business day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be likely to offer you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based on the specifics of each application. Some deals have been approved in the space of 24 hours.
The quickest way to apply is to make sure you apply during normal business hours and allow us to use the advanced bank verification system link to instantly confirm your bank details online. If you choose to send us documents from your account statements it can 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 within normal business times and allow us to use the bank verification system link to instantly verify your bank details online. If you opt to upload copies of your banking statements we can provide an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K and up) We may be likely to provide the conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The fastest method is to ensure you apply during normal business hours, and allow us to use the advanced bank verification system to confirm your bank details online. If you send us duplicates of your banking statement, it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a certain amount we take into consideration a range of elements in order to assess the health that is your business and the level of payments your company can afford. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your company.
When you apply for a particular amount, we look at a range of aspects to assess your health that is your business and the level of repayments your company can afford. The amount you receive from your loan will be determined by the particulars that are unique to your business.
If you decide to make an application for one of our business loans, we’ll assess the risk profile that you have for your business and offer you with a customised offer, including loan amount, term and interest rates. This business loan is an upfront cost loan so you will know the exact amount due, which includes any interest rates, fees or charges.
The interest rates on company loans rates depend on a variety of factors like the amount of money that is borrowed, what business assets the funds will be used for, the industry the business operates in, the long the business has been operating for, what percentage of the business has sufficient cash flow to pay for the loan, and the overall health or creditworthiness of the company.
There are no hidden costs with our company loans. You’ll be aware of the amount you’ll be required to pay, and when, starting from the first day. There’s no compounding and there are no additional charges (as as long as you pay your payments on time).
We do not charge an application fee. You are able to request a credit loan absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated with setting up and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You may choose to pay back all of your loan in full at any time.
If you do decide to take this route, please talk to one of our helpful business credit specialists. We will offer you with repayment details as well as an early payout amount. This is calculated as the sum of the principal remaining and any accrued interest at the time of the early payout plus 1.5% of the principal remaining plus any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow schedule, we provide repayments either daily or weekly. They are automatically deducted from your nominated company account.
Protecting your information, and knowing how we collect, use, exchange and secure your information, is of huge importance and is an essential aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We employ a highly sophisticated bank verification system to immediately confirm your bank account information online so we can provide rapid response.
The term "asset-based" refers to borrowing where the company owner utilises an asset they own to obtain the funding. The asset could be an individual property, such as the family home or it could be a business asset such as a truck or piece of equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to make loans secured by an asset. If you are having difficulty paying back the loan, your assets could be sold by the lender. In essence, it is the process of securing additional financing using the worth of the asset you already own.
Up to $150K in loans the requirement for asset security is not required in advance to gain access to the funds However, we do require the personal guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract document) and you are able to meet your obligations, asset security is not needed. For loans that exceed $150,000, generally, there is an individual ensure and security is provided in the form of a charge over assets.
