The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K to $500K company loans.
All that’s required to get started is your contact details (company name and your name, as well as email 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, but not before we can begin:
Additionally after we get started, for loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
You can apply to get your Small Business Loan in under 10 minutes online or by phone. You will receive a same day response and have the funds in your account within 24 hours. Traditional company loans refer to an interest rate per annum as well as other fees and charges. Our business loan is a loan that is priced upfront therefore you’ll know ahead of time the total amount due, which includes any fees, interest or charges. This is then divided into weekly or daily repayment figure.
The Small Business Loan can be used to fulfill almost every business purpose including managing cash flows, company renovations, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
A 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 of this size, your business needs to have been operating for a minimum of 3 years and have an annual turnover of $700K. The applicant must also be 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 demonstrate at least 12 months of trading.
A larger company loan can be used for almost all business reason, such as company improvements, purchasing equipment or inventory for general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary to obtain funding above $150,000. This can be done by way of charge over assets, and could include registering this in the PPSR or making as a caveat.
A director’s or personal ensure is a guarantee to repay credit that is generally based rather than stating security over a particular asset. The person who is signing the ensure is personally liable in the event that the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR gives preference over private property granted according to the date a registration of a security interest.
Caveats are legal document that is filed to provide the public notice of a legal claim to property.
If you’re applying for a Larger Business Loan of more than $250,000 we may be able to provide an initial pre-approval in order to smooth out the process. We could be able to do this without a credit check and within 6 hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering some financial well-being checks. It is neither an offer nor a guarantee of credit. Unconditional approval is subject to an extensive credit evaluation and any offer you receive could be based on different conditions.
You can apply for an business loan if you:
The application process is simple and simple. Just complete the online application in just a few minutes, and an experienced company lending specialist will contact you to guide you through the process.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements Last 2 years’ finalised financial statements, and interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) We can usually offer an answer within an hour – as long as you apply within standard business times and let us make use of the advanced bank verification system link to immediately verify your bank account information online. If you choose to submit copies of your bank statements , we’ll be able to offer the decision in just the span of one company day.
If you are applying for a Larger Business Loan ($100K to $500K) we might be capable of offer you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this could be shorter based on the circumstances of each application. Some deals have been approved in the space of 24 hours.
The fastest way would be to ensure you apply during normal business hours, and let us use the advanced bank verification system to check your bank’s information online. If you send us documents from your account statements , it will take a little longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour if you apply during normal business timings and allow us to use the bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your banking statements we can provide the decision within an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be capable of offer the conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based upon the circumstances for each application. Some deals have been approved within just 24 hours.
The quickest method is to make sure you apply during normal business hours and permit us to use the modern bank verification to instantly verify your bank account information online. If you decide to send us the copies of bank accounts, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a particular amount, we will consider a number of elements in order to assess your health of the business and the extent of payments your business is able to afford. The amount you receive from your loan will be contingent on the specifics for your company.
If you apply for a set amount, we look at a range of factors to assess how much we can lend you such as health of your business as well as the amount of payments your company will be able to support. The total amount of your loan will depend on the particular circumstances of your company.
If you decide to apply for business loans with us company loan, we will assess the risk profile of your business and provide an individualised proposal that includes loan amount, term and interest rates. It is a company loan is an upfront priced loan therefore you will be aware in advance of the total amount due, which includes any costs, fees, or interest rates.
Interest rates for business loans rates vary due to variables like the amount to be borrowed, the business assets the funds will be used for and the sector the company is operating in, how long the business has been operating for, in the event that the business has sufficient cash flow to fund the loan, as well as the overall health or financial standing of the business.
There are no hidden costs for our company loans. You’ll know exactly how much it is that you need to pay, and when, from the first day. There’s not any compounding interest and the loan comes with no additional fees (as long as you make your payments punctually).
We don’t charge an Application Fee. You are able to request a credit loan with without any upfront costs or obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can decide to repay the entire amount of your loan early at any time.
If you decide to take this route, please call our helpful company loan experts. They’ll provide you with the details of your repayment and an early payout figure. This is calculated as the sum of the principal balance and the accrued interest up to the time of early payout and 1.5% of the principal balance plus any outstanding fees.
To make sure you do not miss payment dates and to align your cash flow schedule, we offer repayments either daily or weekly. They will be automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect, use, exchange and safeguard your data, is of huge importance and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to security for our customers and security. We use an advanced bank verification system link to immediately verify your bank account details online. This allows us to offer quick responses.
Asset-based borrowing occurs when a business owner makes use of the assets they have to secure the loan. The asset could be an individual property, such as the family home or a company property like a truck or other piece of machinery.
The majority of lending institutions, including the banks with the biggest size, prefer to make loans secured by assets. If you’re having trouble paying back the loan then your assets could be offered for sale by the lender. In essence it’s a way of securing additional financing using the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not required prior to the loan’s access, however we require a personal guarantee. require a personal guarantee. In the event that you fulfill your loan commitments (as specified in the loan contract) the security of assets is not needed. For loans of over $150,000 generally there is an individual guarantee and security in the form of the charge of assets.
