The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Take a look at the eligibility requirements for our $100K to $500K company financing.
All you need for starting is your contact information (the name of your company, your name, email address, phone) as well as the amount you’d like to borrow and your monthly income.
During the process and before settlement we will need confirmation of your identity but not for starting:
Additionally after we get started in the process, for loans over $150,000 you’ll need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply to get the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and the money could be in your account in 24 hours. Traditional business loans refer to an annual interest rate along with other charges and fees. Our business loan is a cash-based loan which means you know in advance the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure.
A Small Business Loan can be used to fulfill almost any company purpose including managing cash flows, company remodels and marketing for purchasing inventory or new equipment, as general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee which is determined at 2.5% of the amount of the loan.
To be eligible for a credit 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) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large company loan can be used for almost any company reason, such as company renovations, purchase of inventory or new equipment for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. It’s by taking a charge over assets, which could also include registering this in the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is generally in nature rather than stating security over an asset. The person signing the ensure is personally liable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
An affidavit is an official document lodged to offer notice of a legal claim to property.
If you’re applying for the Larger Business Loan of $250,000 or more we can offer a preliminary pre-approval to help smooth out the process. We might be able to do this without credit checks and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial health checks. It is not an offer or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you are offered could be subject to different conditions.
You can apply for a company loan if you
The application process is fast and simple. Complete the online form in few minutes and an experienced company credit specialist will contact you to help you.
For a loan of up to $100,000 you’ll require identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent and 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) We can usually provide an answer within one hour, provided you apply during standard business times and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statements , we will be able to offer the decision within 1 business day.
For the Larger Business Loan ($100K and up) we may be capable of provide the conditional pre-approval within about six hours. Once you’ve signed the 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 agreements have been approved within just 24 hours.
The fastest way for you to apply is make sure you apply during normal company hours and allow us to use our modern bank verification to verify your bank information online. If you upload documents from your account statement, it takes a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within an hour if you apply in normal business hours and allow us to use the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your bank statements, we are able to offer an answer within one business day.
For the Larger Business Loans ($100K up to $500,000) we could be able to provide you with conditional pre-approval in around 6 hours. Once 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. Certain transactions have received approval within the space of 24 hours.
The fastest way is to make sure you apply during normal business hours and let us use the advanced bank verification system link to check your bank’s information online. If you upload the copies of bank statements it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a particular amount, we look at a variety of variables for determining your well-being for your company and the extent of the repayments your company can support. The total amount of your loan will depend on the specifics of your business.
When you make an application for a certain amount, we take into consideration a variety of factors to assess the well-being for your business and the amount of repayments your company can support. The total amount of your loan will be contingent on the particular circumstances of your company.
When you apply for one of our business loans, we’ll assess the risk assessment for your company and offer you with a customised offer that includes the loan amount, the terms and the interest rates. The company loan is an upfront cost loan and you’ll be aware in advance of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates differ based on various variables like the amount to be of money borrowed, the company assets the funds will be used for as well as the field the business is operating in, how long the business is in operation, what percentage of the company has sufficient cash flow to cover the loan, and general health or creditworthiness of the business.
There are no hidden fees with our business loans, and you’ll know precisely how much it is that you be required to pay and at what time, from the very first day. There’s no compounding and no additional fees (as as long as you pay your payments on time).
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 with setting up and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the entire amount of the loan early at any time.
If you do decide to pursue this option, please talk to one of our helpful company credit specialists. We will provide you with repayment details as well as an early payout amount. This will be calculated as the total of the remaining principal amount and the accrued interest up to the time of early payout in addition to 1.5% of the principal balance as well as any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow general, we offer repayments that are either daily or weekly. These are automatically deducted from the nominated company account.
Protecting your information, and being clear about how we collect the information we collect, use, share and secure your information, is of paramount importance and is a crucial element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We employ an exceptionally sophisticated banking verification system to instantly confirm your bank account information online to offer a fast response.
Asset-based borrowing occurs when an company owner uses an asset they own to make the funds for a loan. The asset may be an asset belonging to the personal, like the family home or a company asset such as a truck or piece of equipment.
The vast majority of banks, not just the largest banks, are inclined to secure loans against an asset. If you are having difficulty paying back the loan then your assets could be sold by the lender. In essence, it’s means of securing new financing making use of the value of what you already have.
Up to $150K in loans no asset security is required in advance to gain access to the funds However, we do need a personal guarantee. As long as you follow the loan terms (as specified in your loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150K generally there is a personal ensure and security in the form a charge over assets.
