The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business credit.
All that’s needed for starting is your contact details (company name, your name, email, phone), how much you’d like to borrow, and your monthly income.
While in the process and before settlement we will require confirmation of who you are but not before we can begin:
After we start, for loans that exceed $150,000, you’ll require basic financial statements:
Let’s get started now.
Brisbane unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
The application to get your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive a same day response and funds may be in your account within 24 hours. Traditional company loans refer to an annual rate of interest as well as other fees and charges. We offer a business loan is an upfront priced loan so you will be aware in advance of the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly repayment figure.
It is a Small Business Loan can be used for virtually every company use, including cash flow management, company improvements, advertising for purchasing inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be operating for a minimum of 3 years, and have an annual income of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Business Loan of a larger size is a great option for almost every company need, including company renovations, to purchase equipment or inventory as well as for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s as a result of an charge over assets, and could include registering this with the PPSR or the registration of a caveat.
A director’s or personal ensure is a guarantee to pay off a credit line that is generally in nature rather than stipulating the security for a particular asset. The person signing the ensure is personally liable in the event that the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including items or assets). The PPSR permits preference over private property assigned depending on the date that a registration of a security interest.
Caveats are legal form of document to offer the legal claim on a property.
When you’re applying for the Larger Business Loan that is greater than $250,000 it is possible to offer a preliminary pre-approval to help make the process. We could be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health questions. It is not an offer of credit or guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could have different conditions.
You are eligible to apply for a business loan if you
The process for applying is fast and simple. Just fill out the online application within a few minutes and a dedicated business lending specialist will call you to guide you through the process.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License) and a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll also require:
$100K – $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements and the last two years’ finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) we usually provide an answer in just one hour – as long as you submit your request within standard business hours and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements we can provide an answer in just 1 business day.
For the Larger Business Loan ($100K to $500K) we may be likely to offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this can be quicker based on the particular circumstances of each application. Some deals have been approved within just 24 hours.
The most efficient method would be to make sure you apply during normal company hours and let us use the advance bank verification to instantly verify your bank account information online. If you upload copies of your bank accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) We can usually offer a response in one hour – provided you submit your request at standard business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statements we can provide a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be capable of provide you with pre-approval conditional to your application in around six hours. Once you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Some deals have been approved in just 24 hours.
The fastest method for you to apply is make sure you apply during standard business hours and allow us to use our advance bank verification link to instantly confirm your bank details online. If you send us copies of your bank statements, it takes a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount, we take into consideration a range of variables to determine the well-being for your company and the level of repayments your company can afford. The amount you receive from your loan will depend on the particular circumstances that are unique to your company.
When you submit an application for a certain amount, we look at a range of aspects to determine the health of the company and the level of the repayments your company is able to afford. The total amount of your loan will be contingent on the specifics for your business.
If you decide to make an application for our business credit, we will assess the risk profile of your business and offer an individualised proposal that includes the amount of loan, the term and interest rates. A company loan is a loan that is priced upfront so you will know the exact amount payable including any charges, interest rates or fees.
The interest rates on company loans rates differ based on various factors such as the amount that is borrowed, what business assets the funds will be used for in addition to the industry that the business is in, how long the business has been running and in the event that the company has enough cash flow to cover the loan, as well as the general health or creditworthiness of the business.
There aren’t any hidden charges with our company loans, and you’ll know precisely what you be required to pay, and when, right from the first day. There’s no compounding and no additional fees (as as you make your payments punctually).
We do not charge an Application Fee. You are able to apply for a loan no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of loan.
You can decide to repay the total amount of your advance loan at any time.
If you are deciding to do this please call our helpful business credit specialists. They’ll provide you with repayment details and an early payment figure. This is calculated as the sum of the principal amount remaining and any accrued interest at the date of early payout in addition to 1.5% of the principal amount remaining and any outstanding fees.
To make sure you do not miss due dates and also to be in line your cash flow schedule, we offer repayments either weekly or daily. They are automatically deducted from the nominated business account.
The security of your personal information, as well as being clear about how we collect, use, exchange and safeguard your data, is vital and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our dedication to protecting the security of customers and privacy. We use an advanced bank verification system to immediately verify the bank account details online to provide an immediate response.
The term "asset-based" refers to borrowing where a business owner uses assets they own to obtain the loan. The asset could be a personal asset like the family home, or a business property like a truck or piece or equipment.
The majority of lending institutions, even the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan, your asset may be offered for sale by the lender. In essence, it is means of securing new financing by making use of the value of what you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds, however we do need a personal guarantee. As long as you follow the loan terms (as stipulated in your loan contract document) the security of assets is not required. If you take out loans in excess of $150,000 generally, there is the option of a personal guarantee and security that is in the form an asset charge.
