The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Do you require more money? Review the guidelines for eligibility for our $100K to $500K business loan.
All that’s needed to get started is your contact details (company name, your name, email address and phone) and the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we will require confirmation of who you are, but not before we can begin:
Once we’ve started, for loans over $150,000 you will also need 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. They also offer cash flow friendly repayments which can be made daily or weekly.
Apply for your Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and have the funds on your account within 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. Our business loan is a pre-paid loan which means you know in advance the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly 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, to fund 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. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
To be eligible for a credit in this amount, your business needs to be trading for at least 3 years with an annual turnover of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large company loan can be used for almost all business use, including business improvements, purchasing new equipment or inventory for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is necessary to access funding over $150,000. This can be done by way of charge on assets, and may include the registration of this through the PPSR or filing as a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is general in nature rather than defining security over a particular asset. The person who signs the guarantee is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned depending on the date that a registration of a security interest.
Caveats are legal document lodged to offer notice of a legal claim to property.
If you’re applying for an enterprise loan of $250,000 or more, we may offer an initial pre-approval that will help ease the process. We may be able to make this decision without a credit check, and within six hours of your initial application. This pre-approval is based on an initial assessment that includes the answer to a series of financial well-being questions. It is not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer that you are offered could be on different conditions.
You are eligible to apply for a company loan if you:
The process for applying is fast and easy. Just fill out the online application in few minutes and a dedicated business lending specialist will contact you to help you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s License), a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Information on the application including credit consent twelve month bank accounts, the IRD statement and the last two 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 up to $100,000) we typically offer a response in one hour – as long as you apply within quality company timings and permit us to use the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements we can provide an answer within just an business day.
For Larger Business Loans ($100K or more) we could be in a position to provide you with a conditional pre-approval in about six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some transactions have received approval in just 24 hours.
The most efficient method is to make sure you apply during normal business hours, and permit us to use the advanced bank verification system to instantly confirm your bank details online. If you choose to upload the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer a response in one hour if you apply within normal business times and permit us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your banking statements, we are able to provide a decision in just an business day.
For the Larger Business Loans ($100K to $500K) we could be in a position to offer you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Some agreements have been approved within 24 hours.
The fastest method is to ensure you apply during standard business hours. Also, permit us to use the advance bank verification link to instantly verify your bank information online. If you decide to send us the copies of bank statement, it may take a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a certain amount, we will consider a number of elements to determine your well-being of the company and the extent of the repayments your company will be able to support. The amount you receive from your loan will be contingent on the specifics of your company.
When you make an application for a certain amount, we will consider a number of factors to determine the well-being of your company and the extent of the repayments your business is able to afford. The total amount of your loan will depend on the specific circumstances the business.
When you request our business loans, we’ll assess the risk profile the company and offer you with a customised offer, including loan amount, term and interest rates. It is a company loan is an upfront-priced loan and you’ll be aware of the total amount you will have to pay, including charges, interest rates or fees.
The interest rates on business loans rates vary due to factors including the amount borrowed, the company assets the money will be used for, the industry the company operates in, the long the company has been in operation as well as how long the company has sufficient cash flow to pay for the loan, and general well-being or financial standing of the company.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you be required to pay and when, from the day you sign up. There’s no compounding interest and no additional fees (as as long as you pay your payments on time).
We do not charge an application fee. You are able to apply for a loan no cost upfront or commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the entire amount of your advance loan at any time.
If you are deciding to pursue this option, please talk to one of our helpful business loans experts. They’ll offer you with details on repayment and an early payment figure. The figure will be calculated as the sum of the principal remaining and the accrued interest up to the time of the early payout and 1.5 percent of the remaining principal as well as any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow general, we provide payments that are either daily or weekly. These are automatically withdrawn from your nominated company account.
Protecting your information, and being transparent about how we collect information, use it, and exchange it, as well as safeguard your data, is of huge importance and is a crucial element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We make use of an advanced bank verification system link to instantly verify your bank account information online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where the business owner makes use of assets they own to make a loan. The asset could be an individual property, such as the family home or it could be a company asset like a truck as well as a piece of machine.
The vast majority of banks, even the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan, then the asset could be transferred to the lender. In essence it is a way of securing new funding taking advantage of the value of what you already have.
For loans up to $150K it is not necessary to secure assets prior to the loan’s access however, we do require an individual guarantee. So long as you comply with the loan terms (as stated in your loan contract), asset security will never be needed. For loans of over $150,000 typically, you will need the option of a personal guarantee and security in the form the charge of assets.
