The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K company financing.
All that is needed for starting is your contact information (the name of your company, your name, email address and phone) as well as the amount 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 for starting:
Once we’ve started in the process, for loans over $150,000 you’ll also require the following financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
The application for the Small Business Loan in under 10 minutes by phone. You will receive an instant response and the money could be available in just 24 hours. Traditional business loans have an interest rate per annum as well as other fees and charges. The business loan is a cash-based loan therefore you’ll know ahead of time the total amount due, which includes any interest, fees or charges. This is then broken down into a daily or weekly payment amount.
The Small Business Loan can be used for almost any business purpose including control of cash flow business remodeling, marketing for purchasing inventory or new equipment, as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are scheduled weekly or fortnightly, depending on the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size the company needs to be trading for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan can be used to fund almost every company use, including business renovations, purchase of new equipment or inventory as well as for general working capital, and much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. It’s by way of charge against assets, which could also be registered through the PPSR or making as a caveat.
A director’s or personal ensure is a promise to repay a loan which is general in nature, rather than defining security over a particular asset. The person who is signing the guarantee is personally responsible if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including the assets or goods). The PPSR allows priority over personal property to be granted depending on the date that a security interest that is registered.
Caveats are legal document filed to offer the legal claim to a property.
If you’re applying for a Larger Business Loan of $250K or more it is possible to offer an initial pre-approval in order to simplify the process. We may be able to get this done without a credit check and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health questions. This is not an offer or guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer you may receive may have different conditions.
You can apply for an business loan if you:
The application process is quick and simple. Complete the online form within a few minutes and a dedicated company expert in lending will be in touch to assist you.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s License) as well as an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Application details including credit consent twelve month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour, provided you apply at quality business timings and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements , we are able to provide an answer in just one business day.
If you are applying for a Larger Business Loan ($100K or more) we may be capable of offer you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this can be quicker based on the particular circumstances of each application. Some deals have been approved within 24 hours.
The quickest way to apply is to make sure you apply during standard business hours. Also, permit us to use the advanced bank verification system link to instantly check your bank’s information online. If you opt to send us duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we typically offer a response in one hour – provided you make your application at normal business times and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your banking statement, we’ll provide a decision within one business day.
For the Larger Business Loans ($100K up to $500,000) we might be in a position to offer the conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the circumstances of each application. Some deals have been approved within less than 24 hours.
The most effective method can be make sure you apply during standard business hours and allow us to use our sophisticated bank verification link to instantly verify your bank account information online. If you opt to send us documents from your account statement, it takes a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount, we consider a variety of elements that determine what is the well-being that is your business and the extent of repayments that your company can support. The amount you receive from your loan will be contingent on the specifics of your business.
When you apply for a particular amount, we consider a variety of elements to assess how much we can lend you such as well-being that is your company and the amount of payments your company will be able to support. The total amount of the loan will be determined by the specifics for your company.
When you apply for one of our business financing, we will assess the risk assessment of your company and provide you with a tailored offer, including the amount of the loan, the duration and the interest rates. It is a company loan is an upfront-priced loan and you’ll know in advance the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors such as the amount that is of money borrowed, the business assets the funds will be used for as well as the field the company is in, how long the business has been in operation for, whether the company has enough cash flow to cover the loan, and the overall health or creditworthiness of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely how much you’ll need to pay and when, starting from the day you sign up. There’s no compounding interest, and no additional fees (as as you make your payments punctually).
We do not charge an Application Fee. You are able to request a credit loan with with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the entire amount of the loan in full at any time.
If you choose to do this please talk to one of our helpful company loans experts. They will offer you with repayment details and an early payment figure. The figure will be calculated as the total of the principal remaining and the accrued interest up to the time of the early payout, plus 1.5 percent of the principal balance and any fees that remain unpaid.
To ensure that you don’t miss payments and to work with your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from your designated business account.
Making sure that your information is secure, and being upfront about how we collect data, process, exchange and secure your information, is of paramount importance and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We use an advanced bank verification system to instantly verify your bank account details online so we can offer quick responses.
The term "asset-based" refers to borrowing where a business owner makes use of the assets they have to get the funds for a loan. The asset can 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 vast majority of lenders, even the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, your assets could be taken over by the lender. In essence it’s the process of securing additional financing making use of the value of what you already own.
For loans that exceed $150K, no asset security is required upfront to access the money but we require a personal guarantee. need a personal guarantee. So long as you comply with the terms of your loan (as stated in the loan contract) Asset security is not needed. For loans that exceed $150K, generally, there is the option of a personal guarantee and security in the form a charge over assets.
