The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Do you require more money? Find out the conditions of eligibility for our $100K to $500K company financing.
All that is needed to get started is your contact details (company name, your name, email and phone) along with the amount you’d like to lend, and your monthly income.
Through the process and before settlement we’ll require confirmation of who you are, but not to get started:
After we start, for loans that exceed $150,000, you will also need basic financial statements.
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
You can apply for your Small Business Loan in under 10 minutes online or on the phone. You’ll receive an instant response and funds may be on your account within 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. Our business loan is a loan that is priced upfront and you’ll be aware in advance of the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into weekly or daily repayment figure.
The Small Business Loan can be used for almost any company need, such as cash flow management, business remodels and marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund 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.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large business loan can be used for almost any business reason, such as company improvements, purchasing equipment or inventory, as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is required for accessing funds over $150,000. This is as a result of an charge against assets, and may include the registration of this with the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is generally based rather than specifying the security for a particular asset. The person signing the guarantee is personally accountable if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR allows preference over private property granted in accordance with the date on which a security interest was registered.
The caveat can be described as a formal document filed to offer notice of a legal claim to property.
If you’re seeking the Larger Business Loan of more than $250K, we may offer an initial pre-approval to simplify the process. We may be able to make this decision without credit checks and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes you answering a few financial health questions. It’s neither an offer nor a guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer you are offered could be subject to different conditions.
You are eligible to apply for a company loan if you;
The application process is quick and easy. Just fill out the online application in just a few minutes, and a dedicated business expert in lending will call you to guide you.
To apply for up $100,000 you’ll require identification details (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour – as long as you make your application in standard company hours and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your banking statements we can offer the decision in as little as an business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be likely to provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some deals have been approved within just 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours and let us use the modern bank verification to confirm your bank details online. If you upload copies of your bank statements , it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer in just one hour, provided you make your application during standard business times and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your banking statement, we’ll provide a decision in just 1 business day.
For Larger Business Loans ($100K and up) We may be able to offer the conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be faster depending upon the circumstances for each application. Some deals have been approved within just 24 hours.
The most effective method is to ensure you apply during normal business hours. You can also allow us to use our advanced bank verification system link to verify your bank account information online. If you decide to upload documents from your account statement, it takes a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a specific amount we look at a variety of aspects in order to assess your well-being of the business and the extent of payments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
When you apply for a specific amount we will consider a number of aspects to determine your health of the company and the level of repayments that your company can afford. The amount you receive from your loan will depend on the particulars of your business.
When you make an application for business loans with us company loans, we’ll assess the risk assessment that you have for your company and offer an individualised proposal that includes the amount of loan, the term and interest rates. The company loan is a loan that is priced upfront which means you be aware in advance of the total amount to be paid, including any interest rates, fees or charges.
Interest rates for company loans rates vary due to factors including the amount borrowed, the business assets the money will be used for and the sector the company is in, how long the business is in operation, what percentage of the business has sufficient cash flow to fund the loan, and also the general well-being or financial standing of the company.
There are no hidden costs for our company loans. You’ll know precisely how much you’ll need to pay and at what time, from the first day. There’s not any compounding interest and no extra fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You are able to make an application for loans with without any upfront costs or the obligation to take action.
The Origination Fee includes the expenses associated with the setting up and management of the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay all of your advance loan at any time.
If you choose to take this route, please contact our helpful business credit experts. They’ll provide you with details on repayment and an early payout figure. This is calculated as the total of the principal balance and the accrued interest up to the date of early payout and 1.5 percent of the principal amount remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow general, we provide payments that are either weekly or daily. They will be automatically deducted from your designated company account.
Making sure that your information is secure, and being upfront about the ways we gather, use, exchange and protect your information, is crucial and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We make use of an advanced bank verification system to instantly confirm your bank account information online, allowing us to offer an immediate response.
The term "asset-based" refers to borrowing where an company owner uses an asset they own to obtain the funding. The asset can be either an asset belonging to the personal, like the family home or a company asset such as a truck or other piece of machinery.
The vast majority of the lenders even the banks with the biggest size, prefer to secure loans against assets. If you’re having trouble paying back the loan then your assets could be taken over by the lender. In essence it is an opportunity to secure new funding using the value of what you already own.
Up to $150K in loans the requirement for asset security is not required before you are able to access the money, however we require a personal guarantee. require the personal guarantee. In the event that you fulfill your loan obligations (as stated in your loan contract document) the security of assets is not required. For loans that exceed $150K, typically, you will need personal ensure and security in the form of charges on assets.
