The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Are you looking for additional funding? Review the guidelines for eligibility for our $100K-$500K company credit.
All you need to get started is your contact details (company name, your name, email address or phone number) as well as the amount you’d like to borrow, and your monthly earnings.
Through the process and before settlement we’ll require confirmation of who you are, but not to get started:
Once we’ve started with loans that exceed $150,000, you’ll require basic financial statements.
Let’s get started now.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
It is imaginable to apply for this 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 company loans are based on an interest rate per annum plus other fees and charges. Our company loan is an upfront priced loan therefore you’ll know in advance the total amount to be paid, including the interest, fees and charges. This is then broken down into weekly or daily amount to be paid back.
A Small Business Loan can be used for almost any company need, such as control of cash flow business remodels and marketing to purchase inventory, new equipment, for 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 business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size, your business needs to have been trading for at least 3 years with an annual turnover of $700,000. You must 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 to prove at the least 12 months of operating.
A Business Loan of a larger size can be used for almost every company purpose including company improvements, purchasing new equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is required to access funding over $150,000. This can be done as a result of an charge on assets and can be registered with the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is generally based rather than stating security over an asset. The person signing the guarantee is personally accountable if the company the borrower fails 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 which are registered with respect to personal property (including the assets or goods). The PPSR allows priority over personal property to be granted in accordance with the date on which a security interest has been registered.
A caveat is a legal document lodged to offer notice of a legal claim to property.
If you’re requesting an enterprise loan that is greater than $250,000 we may be able to provide a preliminary pre-approval to help simplify the process. We may be able to do this without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health checks. It’s not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to a full credit assessment and any offer that you are offered could be subject to different terms.
You are eligible to apply for a business loan if you
The application process is quick and easy. Simply complete the online form within a few minutes and an experienced company expert in lending will be in touch to assist you.
To apply for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) and a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically provide an answer within an hour – as long as you submit your request in standard company hours and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to submit copies of your bank statement, we’ll provide the decision within just one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be likely to provide you with pre-approval conditional to your application within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however it could be faster based on the specifics of each application. Certain transactions have received approval in just 24 hours.
The quickest way to apply can be ensure you apply during normal business hours. You can also permit us to use the advance bank verification link to verify your bank account information online. If you opt to upload duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within an hour – as long as you submit your request in standard business timings and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to provide an answer in as little as one business day.
For the Larger Business Loans ($100K up to $500,000) We may be in a position to provide the conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain offers have been approved in 24 hours.
The fastest way would be to make sure you apply during normal business hours and let us use the sophisticated bank verification link to instantly check your bank’s information online. If you send us the copies of bank statements, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a particular amount, we consider a variety of variables for determining the health of the business and the extent of repayments that your company is able to afford. The amount you receive from the loan will be determined by the particular circumstances for your company.
When you apply for a set amount, we will consider a number of elements to assess your well-being for your company and the level of the repayments your business will be able to support. The amount you receive from your loan will be determined by the particulars the company.
If you decide to apply for business loans with us company financing, we will assess the risk profile that you have for your business and provide you with a customised offer that includes the amount of the loan, the duration and interest rates. It is a business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any interest rates, fees or charges.
The interest rates on business loans rates depend on several factors including the amount of money borrowed, the business assets the money are used to purchase in addition to the industry that the company operates in, the long the company has been in operation for, how long the company has enough cash flow to support the loan, and the overall health and creditworthiness of the company.
There are no hidden costs with our business loans. You’ll know exactly how much you be required to pay, and at what time, from day one. There’s not any compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We don’t charge an Application Fee. You can get a cash loan without any upfront costs or the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back all of your advance loan at any time.
If you are deciding to take this route, please speak to our friendly business loans experts. We will provide you with repayment details and an early payout figure. This is calculated as the sum of the remaining principal amount and the accrued interest up to the time of the early payout plus 1.5% of the principal amount remaining as well as any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow general, we offer repayments either weekly or daily. These are automatically withdrawn from your business account.
Security of your data, and knowing how we collect the information we collect, use, share and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to the security of our clients as well as their security. We make use of an advanced bank verification system to immediately confirm your bank account information online. This allows us to offer quick responses.
An asset-based loan is when the business owner uses assets they own to make the loan. The asset could be an individual property, such as the family home, or an business asset such as a truck or piece of equipment.
The vast majority of the lenders even the big banks, tend to secure loans against an asset. If you’re having trouble paying back the loan, then the asset might be sold by the lender. In essence, it’s a way of securing new financing by taking advantage of the value of what you already have.
Up to $150,000 in loans it is not necessary to secure assets upfront to access the money however, we do need a personal guarantee. If you adhere to your loan obligations (as detailed in the loan contract) Asset security is not required. For loans over $150,000 generally, you are able to get the option of a personal guarantee and security in the form of a charge over assets.
