The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Do you require more money? Check out the conditions of eligibility for our $100K to $500K company loan.
All you need to start is your contact details (company name, your name, email, phone) and the amount you’d like to borrow as well as your monthly income.
During the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
In addition, once we have started in the process, for loans over $150,000 you’ll need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the money could be on your account within 24 hours. Traditional company loans refer to an annual interest rate along with other charges and fees. This business loan is a loan that is priced upfront therefore you’ll know ahead of time the total amount payable including the interest, fees and charges. Then, it is broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually any business purpose including the management of cash flow, company remodeling, marketing to purchase inventory, new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.
In order to be eligible for a loan in this amount, your business needs to have been in operation for at least 3 years with an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger company loan can be used for almost every company need, including company renovations, to purchase equipment or inventory, as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It is usually by way of charge over assets, which could also include the registration of this in the PPSR or making as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than defining security over an asset. The person who is signing the guarantee is personally liable in the event that the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR gives the priority of personal property assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official document lodged to provide an official notice of a claim to a property.
If you’re applying for larger business loans that is greater than $250,000 we may be able to provide an initial pre-approval in order to make the process. It is possible to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial health checks. This is in no way an offer, nor is it a guarantee of finance. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you are offered could be on different terms.
You can apply for an company loan if you;
The process for applying is fast and easy. Just fill out the online application in just a few minutes, and a dedicated business loan specialist will call you to help you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s License), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we usually provide an answer in just one hour – as long as you make your application during standard business hours and let us utilise the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we will be able to provide the decision within the span of one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be likely to offer you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based upon the circumstances for each application. Some deals have been approved within just 24 hours.
The fastest way is to ensure you apply during normal business hours. You can also permit us to use the modern bank verification to instantly confirm your bank details online. If you decide to upload copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K and up) We can usually provide an answer in just one hour, provided you make your application at normal business time and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements, we are able to offer an answer within the span of one business day.
For Larger Business Loans ($100K to $500K) We may be capable of provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this can be faster depending on the specifics of each application. Some offers have been approved in less than 24 hours.
The fastest method would be to make sure you apply during standard business hours. You can also let us use the modern bank verification link to instantly confirm your bank details online. If you send us copies of your bank statements, it may take a bit longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a specific amount we will consider a number of variables that determine the health that is your business and the extent of payments your business is able to afford. The total amount of the loan will be determined by the specifics for your business.
When you make an application for a certain amount, we take into consideration a variety of elements to assess the health that is your business and the amount of repayments that your company can support. The total amount of your loan will depend on the specific circumstances the company.
If you decide to request our business financing, we will assess the risk assessment that you have for your business and provide you with a customised offer, including the amount of the loan, the duration and interest rates. The business loan is a loan that is priced upfront so you will know the exact amount to be paid, including any charges, interest rates or fees.
Business loan interest rates depend on several factors such as the amount that is that is borrowed, what company assets the funds will be used for, the industry the company operates in, the long the business has been running for, whether the business has sufficient cash flow to support the loan, and the overall health and creditworthiness of the business.
There aren’t any hidden costs for our company loans, and you’ll be aware of the amount you need to pay and at what time, from day one. There’s no compounding interest, and no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You can apply for a loan with without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs 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 percentage of the amount of loan.
You can repay the total amount of your advance loan at any time.
If you decide to take this route, please talk to one of our helpful company credit experts. They’ll provide you with details for repayment along with an early payout estimate. This is calculated as the total of the principal amount remaining and any accrued interest at the time of early payment plus 1.5% of the remaining principal and any outstanding fees.
To help you avoid missing payments and to work with your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from the nominated business account.
The security of your personal information, as well as being upfront about how we collect the information we collect, use, share and ensure the security of your information is crucial and is a crucial aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to security for our customers and privacy. We make use of an advanced bank verification system link to immediately verify your bank account details online. This allows us to provide an immediate response.
Asset-based borrowing occurs when the company owner borrows from an asset they own to get the funds for a loan. The asset may be an asset belonging to the personal, like the family home, or it could be a company asset such as a vehicle or piece of equipment.
The vast majority of lenders, including the largest banks, are inclined to make loans secured by assets. If you’re struggling to pay back the loan, your asset may be offered for sale by the lender. In essence it is an opportunity to secure additional financing taking advantage of the value of what you already have.
For loans of up to $150K, no asset security is required upfront to access the money, however we do require the personal guarantee. As long as you follow the loan terms (as stipulated in the loan contract) the security of assets is not needed. If you take out loans in excess of $150K typically, you will need personal guarantee and security is provided in the form of an asset charge.
