The eligibility requirements for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Do you need more money? Check out the guidelines for eligibility for our $100K to $500K company loan.
All that’s needed to begin is your contact information (company name, your name, email, phone), how much you’d like to borrow, and your monthly revenue.
Through the process and before settlement we will need confirmation of your identity but not before we can begin:
Once we’ve started with loans over $150,000 you will also require basic financial statements.
Let’s get started now.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes over the phone. You’ll get a same day response and the funds could be on your account within 24 hours. Traditional company loans refer to an interest rate per annum plus other fees and charges. The business loan is a loan that is priced upfront 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 either a daily or weekly installment amount.
The Small Business Loan can be used for nearly any company use, including cash flow management, business remodels and marketing for purchasing inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. The repayments are made weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
In order to be eligible for a loan that is this large, your business needs to have been operating for a minimum of 3 years, and have an annual income of at least $700,000. It is necessary to 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 the least 12 months of operating.
A large business loan can be used for nearly every company purpose including company renovations, purchase of equipment or inventory 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 in the form of a charge over assets and can be registered on the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is generally in nature rather than specifying security over a particular asset. The person who is signing the guarantee is personally responsible if the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests that are registered for personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted in accordance with the date on which a security interest that is registered.
An affidavit is an official document lodged to provide notice of a legal claim to a property.
If you’re seeking a Larger Business Loan that exceeds $250K, we may offer an initial pre-approval that will help simplify the process. We may be able to do this without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering a few financial health checks. It is not an offer of credit or guarantee of funds. Unconditional approval 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 an company loan if you
The application process is quick and easy. Just complete the online application within a couple minutes, and an experienced company credit specialist will be in touch to guide you through the process.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as an active NZBN/IRD, and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Application details including credit consent and 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer within one hour if you submit your request in quality business timings and let us 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 are able to offer an answer within just one business day.
For Larger Business Loans ($100K to $500K) we might be able to provide the conditional pre-approval within about 6 hours. After you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours. You can also allow us to use our advance bank verification to verify your bank information online. If you decide to send us documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within one hour if you submit your request at normal business time and permit us to use the bank verification system to immediately verify your bank account information online. If you want to submit copies of your bank statements, we are able to provide a decision in as little as the span of one business day.
For the Larger Business Loans ($100K and up) we may be in a position to offer you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some offers have been approved within 24 hours.
The quickest method can be make sure you apply during standard business hours and let us use the advanced bank verification system to instantly verify your bank information online. If you choose to send us duplicates of your banking statements, it takes a bit longer.
We provide loans that range from $5,000 to $500,000. If you apply for a certain amount we look at a variety of factors that determine what is the health for your company and the level of the repayments your business can afford. The amount you receive from your loan will depend on the specifics that are unique to your business.
When you make an application for a set amount, we will consider a number of aspects to assess the health for your business as well as the amount of repayments your business is able to afford. The amount you receive from your loan will be determined by the particular circumstances the business.
When you apply for the company loans, we will assess the risk assessment that you have for your company and provide you with a customised offer including the loan amount, the terms and the interest rates. It is a business loan is an upfront cost loan therefore you will know the exact amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates differ based on various factors such as the amount that is borrowed, what company assets the money will be used for and the sector the company operates in, how long the company has been operating, what percentage of the company has enough cash flow to cover the loan, and also the general health or financial standing of the company.
There aren’t any hidden charges for our company loans, and you’ll know precisely how much you’ll be required to pay and when, starting from the day you sign up. There’s no compounding interest and no extra fees (as as you make your payments on time).
We don’t charge an application fee. You are able to get a cash loan with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of the loan early at any time.
If you do decide to pursue this option, please call our helpful company credit experts. They’ll provide you with details for repayment along with an early payout estimate. This will be calculated as the total of the principal balance and the accrued interest up to the time of early payment plus 1.5 percent of the principal remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Security of your data, and making it clear how we collect, use, exchange and protect your information, is of paramount importance and is a crucial aspect 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 protecting the security of customers and security. We make use of an advanced banking verification system to immediately verify the bank account details online, allowing us to provide rapid response.
The term "asset-based" refers to borrowing where an company owner borrows from an asset that they own to get a loan. The asset could be an individual asset, such as the family home or a company asset like a truck or piece of equipment.
The majority of the lenders even the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan, then the asset could be sold by the lender. In essence, it’s means of securing new funding using the value of what you already own.
For loans up to $150K it is not necessary to secure assets upfront to access the money However, we require a personal guarantee. require the personal guarantee. As long as you follow your loan obligations (as stated in the loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150,000 generally, you are able to get a personal ensure and security in the form the charge of assets.
