The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K business financing.
All that is needed to get started is your contact information (the name of your company, your name, email address or phone number), how much you want to borrow, and your monthly earnings.
During the process and before settlement we will require confirmation of who you are, however, not in order to begin:
In addition, once we have started in the process, for loans over $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the funds could be available in just 24 hours. Traditional company loans reference an interest rate per annum plus other fees and charges. This company loan is a cash-based loan therefore you’ll know in advance the total amount payable including any interest, fees or charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used for almost any company purpose including the management of cash flow, company remodels and marketing to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee which is calculated at 2.5% of the loan amount.
In order to be eligible for a loan in this amount the company needs to have been operating for at least three years and generate an annual revenue of $700,000. 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 business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Larger Business Loan can be used for nearly any company reason, such as company remodeling, buying equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to access funding over $150,000. It is usually in the form of a charge over assets, and may include the registration of this on the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is generally in nature rather than specifying security over a particular asset. The person who signs the ensure is personally liable in the event that the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including goods or assets). The PPSR permits the priority of personal property assigned according to the date a security interest has been registered.
An affidavit is an official document lodged to offer an official notice of a claim on a property.
If you’re requesting a Larger Business Loan of more than $250K it’s possible to offer a preliminary pre-approval to help smooth out the process. We may be able to do this without a credit check and within 6 hours of the initial application. The pre-approval is based upon an initial assessment, which involves the answer to a series of financial health checks. This is not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you are offered could be based on different terms.
You can apply for a business loan if you;
The application process is simple and easy. Simply complete the online form within a couple minutes, and a dedicated company loan specialist will be in touch to guide you through the process.
To apply for up $100,000, you’ll require ID details (valid Driver’s License) as well as a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we usually provide an answer in just one hour – as long as you apply during quality business timings and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you decide to submit copies of your bank statements , we are able to offer an answer in as little as one company day.
If you are applying for a Larger Business Loan ($100K or more) we might be in a position to offer you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Some offers have been approved in 24 hours.
The fastest way can be ensure you apply during standard company hours and let us use the modern bank verification link to instantly check your bank’s information online. If you decide to upload documents from your account statements , it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within an hour – provided you apply in normal business times and permit us to use the bank verification system to instantly verify your bank information online. If you opt to upload copies of your banking statements, we are able to offer a decision within the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be capable of provide you with a conditional pre-approval within 6 hours. After you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Some deals have been approved in the space of 24 hours.
The fastest method for you to apply is ensure you apply during standard business hours. Also, permit us to use the modern bank verification to instantly confirm your bank details online. If you send us duplicates of your banking accounts, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you make an application for a particular amount, we look at a variety of variables that determine your well-being of the company and the level of the repayments your business can afford. The total amount of your loan will be contingent on the particular circumstances of your business.
When you submit an application for a particular amount, we will consider a number of variables to assess how much we can lend you such as well-being for your business and the level of the repayments your company will be able to support. The amount you receive from the loan will be determined by the specifics of your company.
When you apply for the company loans, we’ll assess the risk assessment of your company and provide an individualised proposal that includes the amount of loan, the term and interest rates. A business loan is an upfront priced loan and you’ll be aware of the total amount due, which includes any charges or interest.
The interest rates on company loans rates depend on several factors including the amount borrowed, what business assets the funds are used to purchase as well as the field the company is operating in, how long the company is in operation and whether the company has enough cash flow to cover the loan, and the general health or creditworthiness of the business.
There are no hidden fees for our company loans. You’ll be aware of the amount you’ll need to pay and when, from day one. There’s no compounding and no additional fees (as long as you make your payments in time).
We do not charge an Application Fee. You are able to make an application for loans with no cost upfront or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can decide to repay all of your loan early at any time.
If you are deciding to take this route, please speak to our friendly business credit professionals. They’ll offer you with repayment details along with an early payout estimate. It will be calculated using the total of the principal amount remaining and any accrued interest at the time of early payout plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your nominated company account.
Protecting your information, and being clear about how we collect the information we collect, use, share and safeguard your data, is vital and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We make use of an advanced bank verification system link to immediately verify your bank account details online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where a business owner makes use of an asset they own to make the loan. The asset can be an asset belonging to the personal, like the family home or a business asset such as a vehicle as well as a piece of machine.
The vast majority of lenders, including the banks with the biggest size, prefer to secure loans against assets. If you have trouble paying back the loan, then the asset could be offered for sale by the lender. In essence, it’s a way of securing new financing by using the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets upfront to access the money However, we require a personal guarantee. require the personal guarantee. As long as you follow the loan terms (as specified in your loan contract), asset security will never be required. For loans that exceed $150,000, generally, there is a personal ensure and security in the form of an asset charge.
