The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K business loan.
All you need to start is your contact details (the name of your company, your name, email address and phone), how much you’d like to borrow and your monthly income.
During the process and before settlement we’ll require confirmation of who you are, but not to get started:
After we start in the process, for loans over $150,000 you’ll also need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
It is possible to apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and the funds could be in your account within 24 hours. Traditional company loans reference an interest rate per annum as well as other fees and charges. Our company loan is a cash-based loan so you will know in advance the total amount to be paid, including any interest, fees or charges. Then, it is divided into weekly or daily amount to be paid back.
It is a Small Business Loan can be used to fulfill almost every business need, such as cash flow management, business remodels and marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan in this amount the company needs to be trading for at least 3 years and generate an annual revenue of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used for almost all business reason, such as company renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This is in the form of a charge against assets, and may include registering this on the PPSR or filing a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature rather than specifying the security of a specific asset. The person who is signing the guarantee is personally responsible if the business borrower is unable 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 the assets or goods). The PPSR grants prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
The caveat can be described as a formal document filed to provide the legal claim to property.
When you’re applying for an enterprise loan that exceeds $250K it is possible to offer an initial pre-approval that will help ease the process. It is possible to do this without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes answering a couple of financial well-being questions. This is in no way an offer, nor is it a guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you are offered could be based on different conditions.
You can apply for an business loan if you:
The application process is simple and easy. Complete the online form in few minutes and a dedicated business credit specialist will call you to guide you through the process.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months of bank records, IRD statement, last 2 years finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) we typically offer an answer within an hour if you make your application within quality company times and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statements we can offer the decision within just 1 business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we could be in a position to offer you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Some agreements have been approved within 24 hours.
The fastest way is to make sure you apply during standard company hours, and allow us to use our advance bank verification link to instantly verify your bank information online. If you decide to upload copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within one hour – as long as you apply at normal business time and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements, we are able to provide a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be likely to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Some transactions have received approval within less than 24 hours.
The most effective method is to ensure you apply during normal business hours. You can also allow us to use the advanced bank verification system link to verify your bank information online. If you choose to upload the copies of bank accounts, it takes a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a certain amount we look at a variety of factors to determine the health that is your business and the level of the repayments your business can afford. The total amount of your loan will depend on the particular circumstances of your company.
When you apply for a particular amount, we take into consideration a variety of variables to determine how much we can lend you such as well-being of the business and the level of the repayments your company can support. The amount you receive from the loan will be determined by the particulars the business.
When you request business loans with us company loans, we will assess the risk assessment the business and provide you with a customised offer, including the loan amount, the terms and interest rates. A business loan is a loan that is priced upfront therefore you will be aware in advance of the total amount due, which includes any charges or interest.
Interest rates for company loans rates depend on several factors including the amount of money borrowed, the business assets the money are used to purchase, the industry the company is operating in, how long the business is in operation for, what percentage of the company has enough cash flow to pay for the loan, and overall health or creditworthiness of the business.
There aren’t any hidden costs with our business loans, and you’ll be aware of the amount you be required to pay and when, from day one. There’s no compounding and no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can get a cash loan no cost upfront or any obligation to sign up.
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. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can repay the entire amount of the loan early at any time.
If you choose to pursue this option, please talk to one of our helpful company loans experts. They’ll offer you with details on repayment along with an early payout estimate. This is calculated as the total of the principal remaining and accrued interest to the time of the early payout and 1.5 percent of the remaining principal and any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow routine, we provide repayments either weekly or daily. These are automatically withdrawn from your designated company account.
Security of your data, and being transparent about how we collect information, use it, and exchange it, as well as protect your information, is of huge importance and a vital part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to security for our customers and security. We utilise a sophisticated bank verification system link to immediately verify your bank account details online. This allows us to provide rapid response.
The term "asset-based" refers to borrowing where an company owner uses assets they own to secure the loan. The asset can be an individual asset, such as the family home or a business asset such as a vehicle or piece or equipment.
The vast majority of lending institutions, not just the banks with the biggest size, prefer to guarantee loans against an asset. If you’re struggling to pay back the loan, then the asset might be offered for sale by the lender. In essence, it’s the process of securing new financing by using the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money, however we do need an individual guarantee. If you adhere to the terms of your loan (as stated in your loan contract document) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150K, generally, there is the option of a personal guarantee and security in the form of charges on assets.
