The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Need more funds? Find out the eligibility requirements for our $100K-$500K company financing.
All that’s required to start is your contact details (company name, your name, email or phone number), how much you’d like to lend, and your monthly revenue.
During the process and before settlement we will need confirmation of who you are but not to get started:
Once we’ve started with loans greater than $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
The application to this Small Business Loan in under 10 minutes via the internet or over the phone, receive an instant response and the funds could be available in just 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. We offer a business loan is a cash-based loan and you’ll be aware of the total amount to be paid, including any fees, interest or charges. This is then broken down into either weekly or daily payment amount.
The Small Business Loan can be used for virtually every company purpose including control of cash flow business remodeling, marketing to purchase inventory or new equipment, for general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans are between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are weekly or fortnightly depending on the flow of cash.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan in this amount the business needs to have been operating for at least three years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan can be used for nearly all company use, including company renovations, to purchase new equipment or inventory, as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. It’s by taking a charge on assets and can be registered on the PPSR or filing a caveat.
A director’s or personal guarantee is a promise to repay a loan which is generally in nature rather than defining security over an asset. The person who signs the guarantee is personally liable in the event that the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be granted according to the date a security interest has been registered.
A caveat is a legal document filed to provide notice of a legal claim to a property.
When you’re applying for the Larger Business Loan of more than $250K, we may offer an initial pre-approval in order to simplify the process. It is possible to do this without a credit verification and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial well-being questions. It’s neither an offer nor a guarantee of financing. The approval of a conditional loan is subject to a full credit assessment and any offer that you receive could have different conditions.
You may be eligible for an business loan if you
The process for applying is fast and easy. Complete the online form in few minutes and a dedicated company expert in lending will call you to guide you through the process.
To apply for up $100,000, you’ll need ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K and up) We can usually offer an answer in just one hour if you make your application within standard company time and permit us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements , we’ll be able to offer an answer in just the span of one business day.
For the Larger Business Loan ($100K and up) we may be able to provide you with a conditional pre-approval in around 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved within just 24 hours.
The quickest method can be make sure you apply during normal company hours, and allow us to use the modern bank verification link to check your bank’s information online. If you choose to send us duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within an hour – as long as you apply within normal business times and let us use the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statement, we’ll provide an answer in just 1 business day.
For the Larger Business Loans ($100K to $500K) we might be able to offer you with conditional pre-approval within six hours. Once you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Certain transactions have received approval within just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours. You can also allow us to use our advanced bank verification system link to verify your bank information online. If you opt to send us duplicates of your banking statement, it will take a little longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a certain amount, we will consider a number of factors in order to assess your health of the business as well as the amount of the repayments your business can afford. The total amount of your loan will depend on the particular circumstances for your business.
When you submit an application for a specific amount we consider a variety of factors to determine how much we can lend you such as well-being of your business and the level of the repayments your company can support. The amount you receive from the loan will be determined by the particular circumstances for your company.
When you request our business loans, we’ll assess the risk profile of your company and offer you with a customised proposal that includes the amount of loan, the term and interest rates. It is a company loan is a loan that is priced upfront and you’ll know in advance the total amount payable including any interest rates, fees or charges.
The interest rates on business loans rates depend on a variety of factors like the amount of money borrowed, what business assets the funds are used to purchase and the sector the business operates in, how long the company has been in operation for, whether the business has sufficient cash flow to pay for the loan, and also the overall well-being or financial standing of the business.
There aren’t any hidden costs for our business loans. You’ll know precisely what it is that you be required to pay and when, starting from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments punctually).
We do not charge an Application Fee. You are able to make an application for loans with no upfront cost or the obligation to take action.
The Origination Fee covers the costs associated with establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay the entire amount of your advance loan at any time.
If you decide to do this please call our helpful business loan experts. The professionals will provide you with details for repayment as well as an early payout amount. This is calculated as the total of the remaining principal amount and any accrued interest at the date of early payout in addition to 1.5 percent of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payments and to work with your cash flow routine, we provide payments that are either weekly or daily. They are automatically deducted from your designated business account.
The security of your personal information, as well as being upfront about the ways we gather data, process, exchange and safeguard your data, is of paramount importance and a vital element of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We use an advanced banking verification system to immediately verify your bank account information online. This allows us to provide a fast response.
The term "asset-based" refers to borrowing where the business owner uses the assets they have to get the loan. The asset may be an asset belonging to the personal, like the family home or it could be a company asset such as a vehicle or piece or equipment.
The majority of the lenders even the major banks, prefer to make loans secured by assets. If you are having difficulty paying back the loan, then your assets could be taken over by the lender. In essence, it’s a way of securing additional financing using the worth of the asset you already have.
For loans that exceed $150K, there is no requirement for asset security in advance to gain access to the funds however, we do require a personal guarantee. So long as you comply with the loan terms (as detailed in your loan contract document) Asset security will never be needed. For loans over $150K generally, there is an individual ensure and security is provided in the form of an asset charge.
