The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company loans.
All you need to start is your contact information (the name of your company, your name, email address or phone number) along with the amount you’d like to borrow and your monthly revenue.
While in the process and before settlement we will need confirmation of who you are, but not to get started:
Once we’ve started, for loans greater than $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of 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.
The application to this Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and funds may be available in just 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. The company loan is a cash-based loan therefore you’ll know ahead of time the amount you will have to pay, including the interest, fees and charges. This is then broken down into a daily or weekly installment amount.
It is a Small Business Loan can be used for virtually any company purpose including cash flow management, business renovations, marketing to purchase inventory, new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on the flow of cash.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan of this size the business needs to be operating for at least three years and generate an annual revenue of $700K. Your company must belong to 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 of proving at minimum 12 months of business.
A Business Loan of a larger size can be used to fund almost every business reason, such as business renovations, to purchase equipment or inventory for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is needed to access funding over $150,000. It’s by way of charge on assets, and could include registering this on the PPSR or making as a caveat.
A director’s or personal ensure is a guarantee to repay credit that is generally in nature rather than specifying the security for a particular asset. The person who is signing the guarantee is personally responsible if the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including the assets or goods). The PPSR grants preference over private property assigned according to the date the security interest has been registered.
A caveat is a legal form of document to provide the public notice of a legal claim against a property.
If you’re applying for larger business loans of more than $250K it is possible to offer an initial pre-approval to simplify the process. We could 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 assessment that includes you answering some financial health checks. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you may receive may be on different terms.
You are eligible to apply for an business loan if you
The application process is quick and simple. Just complete the online application in few minutes and a dedicated company credit specialist will be in touch to assist you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Application details including credit consent and 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 summaries.
For an unsecured loan ($5K or more) we can often provide an answer within an hour if you apply at standard business hours and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we’ll be able to offer the decision within just an company day.
For Larger Business Loans ($100K and up) we might be capable of offer you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the circumstances of each application. Some agreements have been approved in 24 hours.
The quickest method can be make sure you apply during normal company hours. Also, allow us to use the advanced bank verification system link to verify your bank information online. If you send us copies of your bank statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically provide a response in one hour – provided you submit your request at standard business time and you allow us to use the bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your bank statements we can offer an answer in just the span of one business day.
For the Larger Business Loans ($100K and up) we might be capable of provide you with a conditional pre-approval in around six hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, it could be faster based on the particular circumstances of each application. Some transactions have received approval in just 24 hours.
The fastest way is to make sure you apply during standard business hours. You can also let us use the advance bank verification to check your bank’s information online. If you upload the copies of bank statements, it takes a bit longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a particular amount, we take into consideration a range of variables for determining the well-being of your company as well as the amount of repayments your business can afford. The total amount of your loan will be contingent on the specifics of your business.
When you apply for a particular amount, we consider a variety of aspects to determine the well-being of the company and the level of payments your business is able to afford. The amount you receive from your loan will be determined by the particulars the company.
When you apply for one of our business loans, we’ll assess the risk assessment of your company and provide you with a tailored offer including the amount of loan, the term and the interest rates. This business loan is a loan that is priced upfront and you’ll know the exact amount you will have to pay, including charges or interest.
The interest rates on business loans rates depend on a variety of factors including the amount that is borrowed, what company assets the money will be used for in addition to the industry that the company is operating in, how long the business has been operating as well as in the event that the business has sufficient cash flow to support the loan, and also the overall health and creditworthiness of the company.
There aren’t any hidden charges with our business loans. You’ll know exactly how much it is that you need to pay, and when, starting from day one. There’s no compounding interest and no extra fees (as as long as you pay your payments on time).
We do not charge an application fee. You can make an application for loans with no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved in establishing 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 the loan.
You can repay the entire amount of your loan in full at any time.
If you decide to pursue this option, please contact our helpful company credit experts. The specialists will provide you with repayment details and an early payout figure. It will be calculated using the sum of the principal balance and accrued interest to the time of early payment, plus 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from the nominated business account.
Security of your data, and knowing the ways we gather data, process, exchange and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system that allows you to immediately confirm your bank account information online to provide a fast response.
Asset-based borrowing occurs when the business owner uses an asset that they own to make the loan. The asset may be an asset belonging to the personal, like the family home or a company asset such as a vehicle as well as a piece of machine.
The vast majority of lenders, including the largest banks, are inclined to guarantee loans against an asset. If you have trouble paying back the loan, then your assets could be sold by the lender. In essence, it’s the process of securing new financing by taking advantage of the value of what you already have.
For loans of up to $150,000, no asset security is required in advance to gain access to the funds but we do require a personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract document), asset security is not needed. For loans over $150,000 generally, you can get personal guarantee and security is provided in the form of a charge over assets.
