The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Are you looking for additional funding? Find out the eligibility requirements for our $100K to $500K company financing.
All that’s needed to start is your contact details (the name of your company, your name, email address and telephone) along with the amount you’d like to borrow and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are but not to get started:
In addition, once we have started in the process, for loans over $150,000 you will also need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and the funds could be available in just 24 hours. Traditional company loans are based on an annual rate of interest together with additional fees and charges. Our company loan is a pre-paid loan therefore you’ll know ahead of time the total amount payable including the interest, fees and charges. This is then broken down into either weekly or daily payment amount.
It is a Small Business Loan can be used for almost any company purpose including managing cash flows, business remodels and marketing for purchasing inventory or new equipment, or as general working capital, and much more. The loan cannot be used 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 with a fixed-term for up to 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To qualify for a loan that is this large, your business needs to have been trading for at least 3 years, and have an annual income of $700,000. It is necessary to 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 of proving at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost all company need, including business remodeling, buying inventory or new equipment or as general working capital and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. It’s as a result of an charge on assets, which could also be registered on the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature rather than defining security over an asset. The person who signs the ensure is personally liable in the event that the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR gives prioritisation over property that is personal to be granted according to the date the security interest has been registered.
An affidavit is an official document filed to offer the public notice of a legal claim on a property.
If you’re applying for larger business loans that exceeds $250,000, we may offer an initial pre-approval that will help ease the process. We could be able to apply for this without credit checks and within 6 hours of your initial application. The pre-approval process is based on a preliminary assessment which includes you answering a few financial well-being questions. It is not an offer of credit or guarantee of credit. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you are offered could be based on different terms.
You may be eligible for an company loan if you:
The application process is simple and easy. Complete the online form within a couple minutes, and a dedicated company credit specialist will call you to guide you through the process.
To be eligible for up to $100,000, you’ll need ID details (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent twelve months of bank statements, IRD statements, last 2 years finalised financial statements, in addition to interim financial statements for the current year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K or more) we typically offer an answer within an hour – as long as you make your application in quality company times and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements we can provide an answer within 1 company day.
For Larger Business Loans ($100K to $500K) we might be likely to offer you with pre-approval conditional to your application 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, this may be quicker depending on the circumstances of each application. Certain offers have been approved in less than 24 hours.
The fastest way for you to apply is ensure you apply during standard company hours. You can also permit us to use the advanced bank verification system link to check your bank’s information online. If you choose to upload the copies of bank statements , it can take a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within an hour – provided you submit your request in standard business times 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’ll be able to offer the decision within the span of one business day.
For Larger Business Loans ($100K and up) we might be capable of offer you with conditional pre-approval in about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some offers have been approved in 24 hours.
The most efficient method would be to make sure you apply during standard business hours, and allow us to use the sophisticated bank verification link to instantly verify your bank account information online. If you opt to send us duplicates of your banking statements, it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of factors that determine your health of the business and the extent of repayments that your company will be able to support. The total amount of your loan will be contingent on the specifics the company.
If you apply for a set amount, we will consider a number of aspects to assess the health of the business and the level of payments your company will be able to support. The amount you receive from your loan will be contingent on the particular circumstances that are unique to your business.
If you decide to request business loans with us company financing, we will assess the risk profile for your business and provide an individualised offer, including the amount of loan, the term and the interest rates. It is a business loan is an upfront-priced loan so you will know in advance the total amount due, which includes any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors like the amount of money borrowed, the company assets the funds will be used for, the industry the business is in, how long the company is in operation and in the event that the company has enough cash flow to fund the loan, as well as the general health or financial standing of the company.
There are no hidden fees for our company loans. You’ll know exactly how much you’ll be required to pay and when, starting from the very first day. There’s no compounding and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an application fee. You can apply for a loan with no cost upfront 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 proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you decide to take this route, please speak to our friendly company loan experts. We will provide you with details on repayment along with an early payout estimate. This is calculated as the sum of the principal remaining and any accrued interest at the date of early payout plus 1.5 percent of the principal remaining as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow general, we provide payments that are either daily or weekly. These are automatically deducted from your nominated company account.
Protecting your information, and being clear about how we collect data, process, exchange and ensure the security of your information is crucial and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system that allows you to immediately verify your bank account details online so we can offer an immediate response.
The term "asset-based" refers to borrowing where an company owner utilises assets they own to obtain a loan. The asset can be either an individual asset, such as the family home or an company property like a truck as well as a piece of machine.
The majority of the lenders even the major banks, prefer to secure loans against an asset. If you are having difficulty paying back the loan, your assets could be offered for sale by the lender. In essence, it is the process of securing new financing using the worth of the asset you already have.
Up to $150K in loans there is no requirement for asset security upfront to access the money However, we do require the personal guarantee. As long as you follow your loan obligations (as specified in your loan contract document) Asset security will never be needed. For loans that exceed $150,000, generally there is the option of a personal guarantee and security in the form the charge of assets.
