The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K business loans.
All that’s required to start is your contact information (the name of your company, your name, email address and telephone), how much you’d like to lend, and your monthly income.
Through the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
Additionally after we get started in the process, for loans over $150,000 you’ll also need fundamental financial statements:
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Brisbane unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
The application to the Small Business Loan in under 10 minutes over the phone. You’ll get an immediate response, and funds may be available in just 24 hours. Traditional business loans reference an annual rate of interest together with additional fees and charges. This company loan is an upfront priced loan which means you know in advance the total amount payable including any fees, charges or charges. Then, it is broken down into a daily or weekly installment amount.
The Small Business Loan can be used for virtually any business purpose including cash flow management, company remodeling, marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
To be eligible for a loan in this amount, your company needs to be in operation for at least 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger business loan can be used to fund almost all company use, including company improvements, purchasing inventory or new equipment or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is required to obtain funding above $150,000. This can be done as a result of an charge over assets and can include the registration of this on the PPSR or the registration of a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is general in nature, rather than stating security over a particular asset. The person who signs the ensure is personally accountable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It reflects security interests that are registered for personal property (including items or assets). The PPSR permits priority over personal property 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.
If you’re requesting the Larger Business Loan of $250K or more, we may offer an initial pre-approval to ease the process. We might be able to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial well-being questions. It is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer that you may receive may have different terms.
You can apply for an business loan if you
The application process is quick and easy. Just fill out the online application within a few minutes and an experienced business credit specialist will contact you to guide you.
For a loan of up to $100,000, you’ll require proof of identity (valid Driver’s Licence) and a valid NZBN/IRD and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details for application including credit consent and 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically provide an answer in just one hour if you submit your request within quality company time and allow us to use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statement, we’ll provide a decision in as little as one business day.
For the Larger Business Loan ($100K or more) we may be in a position to offer you with conditional pre-approval within 6 hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Certain agreements have been approved within less than 24 hours.
The quickest way to apply is to make sure you apply during normal business hours. You can also let us use the advanced bank verification system link to instantly verify your bank account information online. If you choose to send us copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K and up) we typically provide an answer within an hour, provided you submit your request in standard business time and allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your bank statements, we will be able to offer a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K or more) we might be in a position to provide the conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The quickest method is to ensure you apply during normal business hours and permit us to use the sophisticated bank verification link to instantly verify your bank information online. If you opt to upload copies of your bank statements, 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 that determine your health that is your business and the extent of repayments that your company can support. The total amount of your loan will depend on the specific circumstances that are unique to your company.
When you make an application for a certain amount, we look at a range of factors to assess your health of the business and the level of repayments your company is able to afford. The amount you receive from your loan will be determined by the specifics for your company.
If you decide to request the business financing, we will assess the risk profile of your company and provide you with a customised proposal that includes loan amount, term and the interest rates. A company loan is a loan that is priced upfront and you’ll know in advance the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates differ based on various factors including the amount of money borrowed, the business assets the funds will be used for, the industry the company operates in, the long the business has been running for, how long the business has enough cash flow to cover the loan, and the overall health or financial standing of the company.
There are no hidden costs for our business loans, and you’ll know exactly how much you need to pay, and when, starting from day one. There’s not any compounding interest and no additional fees (as long as you make your payments punctually).
We don’t charge an Application Fee. You are able to request a credit loan with no cost upfront or the obligation to take action.
The Origination Fee includes the expenses associated with the setting up and management of the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay all of your advance loan at any time.
If you choose to pursue this option, please call our helpful company loan professionals. They’ll offer you with details for repayment as well as an early payout amount. It will be calculated using the total of the remaining principal amount and accrued interest to the time of the early payout in addition to 1.5% of the principal balance and any fees that remain unpaid.
To make sure that you don’t miss payments and to work your cash flow schedule, we provide repayments either weekly or daily. They are automatically deducted from your designated business account.
Making sure that your information is secure, and making it clear the ways we gather data, process, exchange and ensure the security of your information is of paramount importance and a vital part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We employ an exceptionally sophisticated banking verification system to immediately verify your bank account details online. This allows us to provide quick responses.
Asset-based borrowing occurs when an business owner makes use of an asset they own to get the funding. The asset could be an asset belonging to the personal, like the family home, or a company asset such as a vehicle or other piece of machinery.
The majority of lending institutions, including the largest banks, are inclined to secure loans against assets. If you’re having trouble paying back the loan, your asset may be sold by the lender. In essence it’s means of securing new financing taking advantage of the value of what you already own.
Up to $150K in loans it is not necessary to secure assets in advance to gain access to the funds, however we require a personal guarantee. need the personal guarantee. In the event that you fulfill your loan commitments (as specified in your loan contract) Asset security is not needed. For loans of over $150,000 typically, you will need an individual guarantee and security that is in the form the charge of assets.
