The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K company loans.
All that’s needed to get started is your contact details (company name, your name, email address and phone) as well as the amount you’d like to borrow and your monthly earnings.
In the course of the process and before settlement we’ll require confirmation of your identity, but not before we can begin:
Once we’ve started when it comes to loans greater than $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
Apply to this Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and the funds could be on your account within 24 hours. Traditional company loans refer to an interest rate per annum as well as other fees and charges. The company loan is a loan that is priced upfront therefore you’ll be aware in advance of the amount you will have to pay, including the interest, fees and charges. Then, it is divided into weekly or daily payment amount.
A Small Business Loan can be used for almost every business reason, such as cash flow management, business renovations, 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 are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To be eligible for a loan in this amount, your business needs to be in operation for at least 3 years with an annual turnover of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger company loan can be used for nearly every business purpose including business renovations, to purchase equipment or inventory or as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is required to obtain funding above $150,000. This can be done by way of charge over assets, and may be registered with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a promise to repay a loan which is general in nature rather than stipulating security over a particular asset. The person signing the guarantee is personally responsible if the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date the security interest that is registered.
Caveats are legal document filed to provide notice of a legal claim against a property.
If you’re applying for larger company loans that is greater than $250K we can offer an initial pre-approval that will help smooth out the process. It is possible to get this done without a credit verification and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering some financial health questions. This is neither an offer nor a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you receive could be on different terms.
You can apply for a business loan if you:
The application process is quick and simple. Simply complete the online form in just a few minutes, and an experienced business expert in lending will contact you to help you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License) along with a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) we typically offer an answer in just one hour, provided you make your application within standard company timings and allow us to utilise the bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements , we’ll be able to offer a decision within just an business day.
For Larger Business Loans ($100K and up) we may be likely to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain offers have been approved within 24 hours.
The fastest way is to ensure you apply during standard company hours. Also, allow us to use our modern bank verification to instantly verify your bank information online. If you send us copies of your bank accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually provide a response in one hour – as long as you make your application within standard business times and you allow us to use the bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statement, we’ll provide an answer in as little as an business day.
For the Larger Business Loans ($100K up to $500,000) we may be capable of offer you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The quickest method can be make sure you apply during standard business hours. You can also allow us to use the advance bank verification to check your bank’s information online. If you choose to upload copies of your bank statement, it will take a little longer.
We offer loans that range from $5,000 to $500,000. If you apply for a specific amount we take into consideration a range of aspects that determine the health that is your business as well as the amount of the repayments your company will be able to support. The amount you receive from your loan will depend on the particular circumstances for your company.
When you submit an application for a specific amount we look at a range of elements to determine the health for your company and the extent of the repayments your business will be able to support. The total amount of your loan will depend on the particular circumstances the company.
When you request our business loan, we’ll assess the risk assessment the business and provide an individualised proposal that includes the amount of the loan, the duration and interest rates. A business loan is an upfront-priced loan therefore you will know in advance the total amount due, which includes any charges, interest rates or fees.
The interest rates on business loans rates vary due to factors like the amount of money borrowed, what business assets the money are used to purchase in addition to the industry that the company operates in, the long the company is in operation and how long the business has sufficient cash flow to cover the loan, as well as the general well-being or creditworthiness of the company.
There are no hidden fees for our business loans, and you’ll know precisely how much you be required to pay and when, right from the very first day. There’s no compounding interest and no additional fees (as long as you make your payments in time).
We don’t charge an application fee. You can apply for a loan with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can repay all of your loan early at any time.
If you do decide to do this please contact our helpful business lending specialists. We will provide you with the details of your repayment as well as an early payout amount. This will be calculated as the sum of the principal amount remaining plus any accrued interest as of the time of early payment plus 1.5 percent of the principal balance as well as any outstanding fees.
To make sure that you don’t miss payment dates and to align with your cash flow general, we provide payments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Making sure that your information is secure, and making it clear how we collect information, use it, and exchange it, as well as safeguard your data, is of huge importance and a vital part of our relationship you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We utilise a sophisticated bank verification system to immediately verify your bank account information online, allowing us to provide rapid response.
Asset-based borrowing occurs when a company owner makes use of the assets they have to secure the funding. The asset can be either an individual asset, such as the family home or an company asset like a truck or piece of equipment.
The vast majority of lenders, including the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, then the asset could be offered for sale by the lender. In essence, it is the process of securing new financing by using the value of what you already own.
For loans up to $150,000 no asset security is required in advance to gain access to the funds, however we do require the personal guarantee. As long as you follow the loan terms (as detailed in your loan contract) Asset security is not required. For loans over $150,000 generally, there is personal guarantee and security is provided in the form of charges on assets.
