The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Find out the eligibility requirements for our $100K to $500K business loans.
All you need to get started is your contact details (company name and your name, as well as email and telephone) along with the amount you’d like to lend, and your monthly income.
While in the process and before settlement we’ll require confirmation of your identity, but not to get started:
Additionally after we get started, for loans greater than $150,000 you will also require basic financial statements.
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Brisbane unsecured loans offers the range of $5,000 to $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 the Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and funds may be available in just 24 hours. Traditional company loans refer to an annual rate of interest along with other charges and fees. Our business loan is a pre-paid loan which means you be aware in advance of the amount you will have to pay, including any interest, fees or charges. This is then divided into weekly or daily installment amount.
A Small Business Loan can be used for almost any company purpose including the management of cash flow, company renovations, marketing, to purchase inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your cash flow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan of this size the business needs to be operating for at least three years and have an annual turnover of at least $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 demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for nearly all business use, including company renovations, to purchase equipment or inventory for general working capital and much more. The loan is not available for personal reasons.
Asset security is required to obtain funding above $150,000. It’s in the form of a charge against assets, which could also include registration in the PPSR or registering a caveat.
A director’s or personal ensure is a guarantee to pay back a loan that is generally in nature rather than stating security over an asset. The person who signs the ensure is personally responsible if the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including objects or assets). The PPSR grants preference over private property granted according to the date the security interest was registered.
A caveat is a legal document filed to offer the public notice of a legal claim against a property.
If you’re applying for larger business loans of more than $250,000, we may offer a preliminary pre-approval to help smooth out the process. We may be able to do this without a credit check and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes the answer to a series of financial health checks. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you receive could have different terms.
You are eligible to apply for an company loan if you
The application process is fast and easy. Simply complete the online form within a couple minutes, and a dedicated business loan specialist will call you to help you.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s License) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financial statements for the current year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) we can often offer an answer within an hour – as long as you apply in quality business time and allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can offer a decision in as little as 1 business day.
If you are applying for a Larger Business Loan ($100K to $500K) we may be likely to provide the conditional pre-approval within six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be quicker based on the particular circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest method would be to make sure you apply during standard company hours and allow us to use our advance bank verification link to instantly confirm your bank details online. If you upload the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) we can often provide a response in one hour, provided you apply at standard business hours and let us utilise the advanced bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements, we’ll be able to offer an answer in as little as 1 business day.
For the Larger Business Loans ($100K or more) We may be capable of offer you with pre-approval conditional to your application in about six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this may be quicker depending upon the circumstances for each application. Certain deals have been approved within the space of 24 hours.
The most efficient method would be to make sure you apply during normal business hours. Also, allow us to use our modern bank verification link to confirm your bank details online. If you opt to send us duplicates of your banking accounts, it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a certain amount we take into consideration a range of aspects for determining how much we can lend you health that is your business and the level of payments your company will be able to support. The total amount of your loan will depend on the specifics that are unique to your company.
If you apply for a particular amount, we take into consideration a variety of aspects to assess how much we can lend you such as well-being that is your business and the level of repayments your company can afford. The amount you receive from your loan will depend on the particulars of your company.
When you apply for our company loan, we will assess the risk assessment for your company and offer you with a customised offer, including the amount of loan, the term and interest rates. The business loan is an upfront-priced loan therefore you will know in advance the total amount payable including any charges or interest.
Business loan interest rates depend on several factors including the amount that is borrowed, what company assets the funds are used to purchase and the sector the business is in, how long the business is in operation for, whether the company has sufficient cash flow to pay for the loan, and overall health or creditworthiness of the company.
There are no hidden fees for our business loans. You’ll know exactly how much you’ll need to pay and when, starting from the day you sign up. There’s no compounding and no additional fees (as as long as you pay your payments in time).
We don’t charge an application fee. You are able to request a credit loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you choose to take this route, please call our helpful business lending experts. They will provide you with details for repayment as well as an early payout amount. The figure will be calculated as the total of the principal amount remaining plus any accrued interest as of the time of the early payout and 1.5% of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow schedule, we offer repayments either daily or weekly. They will be automatically deducted from your company account.
Protecting your information, and knowing how we collect data, process, exchange and ensure the security of your information is vital and is an essential element of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We make use of an advanced bank verification system link to instantly confirm your bank account information online to offer rapid response.
Asset-based borrowing is when a company owner borrows from an asset that they own to get the loan. The asset can be an asset belonging to the personal, like the family home or it could be a business asset such as a truck or other piece of machinery.
The vast majority of lenders, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, then your assets could be transferred to the lender. In essence it’s an opportunity to secure new financing using the value of what you already have.
For loans up to $150,000 the requirement for asset security is not required prior to the loan’s access however, we do require an individual guarantee. If you adhere to your loan commitments (as specified in the loan contract) the security of assets is not needed. If you take out loans in excess of $150,000 generally, you are able to get personal ensure and security in the form the charge of assets.
