Services in Lota
- Lota Unsecured Business Loans
- Business Finance Lota
- Lota Business Lending
- Lota Business Loan
- Small Business Finance Lota
- Business Funding Lota
- Working Capital Lota
- Lota Small Business Lending
- Lota Short Term Business Loans
The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K to $500K business financing.
All that’s required to start is your contact details (the name of your company, your name, email address and telephone) and 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:
Once we’ve started with loans that exceed $150,000, you’ll also need basic financial statements.
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
Apply to the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an instant response and funds may be on your account within 24 hours. Traditional company loans refer to an interest rate per annum as well as other fees and charges. We offer a company loan is a pre-paid loan therefore you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. This is then divided into weekly or daily repayment figure.
The Small Business Loan can be used for nearly any company purpose including cash flow management, company remodels and marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the amount of the loan.
To be eligible for a loan in this amount the company needs to have been operating for at least three years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used for nearly any company purpose including business renovations, to purchase inventory or new equipment as well as for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. This can be done by way of charge against assets, and may include registration in the PPSR or the registration of a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is general in nature rather than specifying security over an asset. The person who is signing the ensure is personally liable if the business the borrower fails 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 reflects security interests registered in respect of personal property (including items or assets). The PPSR gives prioritisation over property that is personal to be assigned according to the date the registration of a security interest.
An affidavit is an official document that is filed to provide the legal claim to a property.
If you’re applying for larger company loans that is greater than $250K we can offer an initial pre-approval that will help make the process. We may be able to do this without a credit check and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial well-being checks. This is in no way an offer, nor is it a guarantee of credit. Unconditional approval is subject to an extensive credit evaluation and any offer you might receive could be on different conditions.
You may be eligible for an business loan if you;
The application process is quick and simple. Complete the online form within a couple minutes, and a dedicated business loan specialist will contact you to assist you.
To apply for up to $100,000 you’ll need identification details (valid Driver’s Licence), an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statement, last 2 years finalised financial statements, as well as interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K and up) we usually offer an answer within one hour – as long as you apply within standard company times and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statements , we are able to provide an answer in just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval in around six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be quicker based on the specifics of each application. Certain deals have been approved in 24 hours.
The most efficient method can be make sure you apply during normal company hours, and allow us to use the advanced bank verification system to confirm your bank details online. If you opt to upload duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K or more) we can often provide an answer within an hour – provided you submit your request in normal business time and permit us to use the bank verification system to immediately verify your bank account information online. If you decide to submit copies of your bank statements we can provide the decision in as little as one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be likely to provide you with pre-approval conditional to your application within about six hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Certain transactions have received approval within just 24 hours.
The quickest method for you to apply is ensure you apply during standard business hours. You can also let us use the modern bank verification link to verify your bank information online. If you choose to send us documents from your account statements it may take a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a certain amount we will consider a number of aspects to determine what is the well-being for your business as well as the amount of payments your business will be able to support. The total amount of the loan will be determined by the specifics the business.
When you make an application for a set amount, we consider a variety of elements to assess your health that is your company and the level of repayments your company is able to afford. The total amount of the loan will be determined by the particulars the business.
When you make an application for one of our business credit, we will assess the risk profile the business and provide you with a tailored proposal that includes loan amount, term and the interest rates. A business loan is an upfront-priced loan so you will be aware of the total amount you will have to pay, including charges or interest.
The interest rates on business loans rates depend on several factors like the amount of money borrowed, the company assets the funds are used to purchase and the sector the company is operating in, how long the business is in operation, what percentage of the business has sufficient cash flow to support the loan, and also the overall health or creditworthiness of the business.
There aren’t any hidden charges with our business loans. You’ll know precisely what you need to pay, and at what time, from day one. There’s no compounding interest and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to make an application for loans absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can choose to repay the entire amount of your loan early at any time.
If you are deciding to take this route, please call our helpful business credit professionals. They will provide you with repayment details and an early payout figure. It will be calculated using the total of the principal remaining plus any accrued interest as of the time of the early payout in addition to 1.5 percent of the principal amount remaining plus any outstanding fees.
To help you avoid missing payments and to work with your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your designated company account.
The security of your personal information, as well as being clear about the ways we gather, use, exchange and ensure the security of your information is crucial and is an essential part of our relationship with 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 commitment to customer security and security. We employ a highly sophisticated bank verification system link to instantly confirm your bank account information online to offer an immediate response.
Asset-based borrowing is when an business owner uses assets they own to secure the loan. The asset can be either a personal asset like the family home, or an company property like a truck or piece or equipment.
The vast majority of banks, not just the major banks, prefer to make loans secured by assets. If you’re having trouble paying back the loan, then your assets could be transferred to the lender. In essence, it is the process of securing new funding taking advantage of the value of what you already have.
Up to $150,000 in loans no asset security is required upfront to access the money however, we require a personal guarantee. require the personal guarantee. As long as you follow the terms of your loan (as stated in your loan contract document) the security of assets will never be required. For loans of over $150K generally there is personal guarantee and security is provided in the form of charges on assets.
