The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Check out the eligibility requirements for our $100K-$500K business loans.
All you need to get started is your contact information (company name and your name, as well as email, phone) as well as the amount you’d like to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of your identity but not to get started:
After we start with loans over $150,000 you’ll require basic financial statements:
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Brisbane unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments, which are either daily or weekly.
The application to your Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the money could be in your account in 24 hours. Traditional business loans reference an annual rate of interest together with additional fees and charges. Our business loan is an upfront priced loan and you’ll be aware in advance of the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly installment amount.
It is a Small Business Loan can be used for nearly every company use, including cash flow management, company remodeling, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To be eligible for a loan in this amount the business needs to be operating for a minimum of 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A large business loan can be used for nearly any business reason, such as company renovations, purchase of inventory or new equipment for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is required to access funding over $150,000. It’s by way of charge on assets, and could include the registration of this through the PPSR or registering as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature, rather than stating the security for a particular asset. The person signing the guarantee is personally accountable if the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR gives the priority of personal property assigned according to the date a security interest has been registered.
The caveat can be described as a formal form of document to provide an official notice of a claim to property.
When you’re applying for an enterprise loan of more than $250,000 we may be able to provide an initial pre-approval that will help simplify the process. We might be able to make this decision without credit checks and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial well-being checks. This is not an offer of credit or 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 fast and simple. Simply complete the online form within a couple minutes, and an experienced business loan specialist will be in touch to help you.
For a loan of up to $100,000, you’ll require proof of identity (valid Driver’s License), a valid NZBN/IRD and at least 6 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-$500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statements, last 2 years finalised financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K and up) we usually offer an answer within one hour if you submit your request in standard business timings and allow us to utilise the bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements we can provide a decision within an business day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to provide you with a conditional pre-approval in around six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be quicker based on the specifics of each application. Certain transactions have received approval within 24 hours.
The quickest way to apply would be to ensure you apply during normal business hours. You can also allow us to use the advance bank verification to instantly verify your bank account information online. If you decide to send us duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within an hour, provided you make your application in normal business times and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statement, we’ll provide a decision in just 1 business day.
For the Larger Business Loans ($100K to $500K) we could be in a position to offer the conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain agreements have been approved in the space of 24 hours.
The quickest method can be make sure you apply during normal business hours. Also, permit us to use the sophisticated bank verification link to instantly check your bank’s information online. If you decide to send us duplicates of your banking accounts, it may take a bit longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a certain amount, we consider a variety of aspects to determine your well-being for your business and the level of payments your business is able to afford. The total amount of your loan will depend on the specifics the business.
When you make an application for a particular amount, we will consider a number of variables to determine your health of your business and the level of payments your company can afford. The total amount of your loan will be determined by the particulars for your business.
When you make an application for one of our company financing, we will assess the risk profile for your business and offer you with a tailored offer that includes the amount of loan, the term and interest rates. A company loan is a loan that is priced upfront therefore you will be aware of the total amount to be paid, including any charges or interest.
Business loan interest rates vary due to variables like the amount to be borrowed, what business assets the funds will be used for, the industry the business operates in, the long the company has been in operation for, whether the business has enough cash flow to support the loan, and also the general health or financial standing of the business.
There aren’t any hidden charges for our company loans. You’ll know precisely how much you be required to pay and when, from day one. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments on time).
We do not charge an application fee. You can request a credit loan with no upfront cost or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the entire amount of your advance loan at any time.
If you choose to take this route, please talk to one of our helpful business lending specialists. They’ll provide you with the details of your repayment along with an early payout estimate. This will be calculated as the total of the principal amount remaining and any accrued interest at the date of early payout and 1.5 percent of the principal balance and any fees that remain unpaid.
To help you avoid missing payments and to work your cash flow schedule, we offer repayments that are either daily or weekly. They are automatically deducted from the nominated company account.
Protecting your information, and making it clear how we collect the information we collect, use, share and ensure the security of your information is of huge importance and a vital part of our relationship you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We employ a highly sophisticated banking verification system to instantly verify your bank account information online to offer quick responses.
Asset-based borrowing is when a business owner makes use of an asset they own to secure the funds for a loan. The asset can be an individual asset, such as the family home or it could be a business asset such as a vehicle or other piece of machinery.
The majority of the lenders including the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan, the asset could be offered for sale by the lender. In essence it is the process of securing additional financing using the value of what you already have.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money, however we do require a personal guarantee. As long as you follow your loan commitments (as specified in the loan contract) the security of assets will never be required. If you take out loans in excess of $150,000 generally, there is personal guarantee and security is provided in the form of an asset charge.
