The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K to $500K business financing.
All you need for starting is your contact information (the name of your company, your name, email and telephone) along with the amount you’d like to borrow and your monthly revenue.
Through the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start when it comes to loans greater than $150,000 you’ll require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
Apply to get this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and funds may be available in just 24 hours. Traditional company loans refer to an annual rate of interest plus other fees and charges. Our company loan is a pre-paid loan so you will know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is broken down into either a daily or weekly amount to be paid back.
A Small Business Loan can be used for almost every company need, such as cash flow management, company remodels and marketing, to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. The loan ranges from $100,000 to $500,000 over a fixed term up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to be operating for a minimum of 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used for nearly every company purpose including company improvements, purchasing equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. This can be done in the form of a charge against assets, and may include registration with the PPSR or registering as a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is generally based rather than specifying the security for a particular asset. The person who is signing the guarantee is personally liable in the event that the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR grants prioritisation over property that is personal to be granted in accordance with the date on which a registration of a security interest.
Caveats are legal document filed to provide the public notice of a legal claim against a property.
When you’re applying for an enterprise loan of more than $250,000, we may offer an initial pre-approval to simplify the process. We might be able to make this decision without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering some financial well-being checks. This is neither an offer nor a guarantee of finance. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you may receive may be subject to different terms.
You may be eligible for a company loan if you:
The process for applying is fast and easy. Complete the online form in just a few minutes, and an experienced company expert in lending will be in touch to guide you.
To apply for up to $100,000 you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Information on the application including credit consent, 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide an answer within one hour – as long as you submit your request within quality business hours and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements we can offer an answer in just the span of one company day.
For Larger Business Loans ($100K and up) we may be capable of provide you with conditional pre-approval in around 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest method would be to ensure you apply during normal company hours and let us use the advance bank verification to instantly confirm your bank details online. If you upload documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within one hour, provided you submit your request within normal business timings and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements, we will be able to provide a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be in a position to provide you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this can be faster depending on the specifics of each application. Some deals have been approved in less than 24 hours.
The most efficient method for you to apply is ensure you apply during normal business hours. You can also allow us to use our modern bank verification to instantly check your bank’s information online. If you upload documents from your account statements, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. If you apply for a particular amount, we look at a variety of aspects that determine your health of your company and the extent of the repayments your business is able to afford. The total amount of your loan will depend on the particular circumstances of your company.
When you submit an application for a certain amount, we look at a range of aspects to assess your health for your company and the extent of the repayments your business can afford. The amount you receive from your loan will be determined by the particular circumstances the business.
When you request our business loan, we’ll assess the risk assessment the company and provide you with a customised proposal that includes loan amount, term and the interest rates. The company loan is an upfront priced loan therefore you will know the exact amount payable including any interest rates, fees or charges.
The interest rates on business loans rates differ based on various factors such as the amount that is that is borrowed, what company assets the funds will be used for in addition to the industry that the business operates in, the long the business is in operation for, what percentage of the company has sufficient cash flow to pay for the loan, and the general well-being and creditworthiness of the company.
There aren’t any hidden charges for our business loans, and you’ll be aware of the amount you be required to pay and when, right from the very first day. There’s not any compounding interest and no additional fees (as as you make your payments punctually).
We do not charge an Application Fee. You can get a cash loan with no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can choose to repay the entire amount of the loan early at any time.
If you decide to take this route, please talk to one of our helpful company loans specialists. They will provide you with details for repayment and an early payout figure. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the time of early payout plus 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your nominated company account.
The security of your personal information, as well as being upfront about how we collect data, process, exchange and secure your information, is crucial and is an essential element of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We make use of an advanced bank verification system to instantly confirm your bank account information online. This allows us to provide quick responses.
An asset-based loan is when the company owner makes use of an asset they own to secure the loan. The asset could be an individual property, such as the family home or an company asset such as a vehicle as well as a piece of machine.
The majority of the lenders not just the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan, your asset may be taken over by the lender. In essence it’s means of securing additional financing taking advantage of the value of what you already own.
Up to $150K in loans there is no requirement for asset security prior to the loan’s access however, we do require the personal guarantee. In the event that you fulfill the loan terms (as stated in your loan contract document), asset security will never be required. For loans that exceed $150K, generally there is personal guarantee and security in the form the charge of assets.
