The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K business loan.
All that’s needed to get started is your contact details (company name and your name, as well as email and phone), how much you’d like to lend, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not to get started:
Once we’ve started when it comes to loans greater than $150,000 you’ll also need basic financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and the funds could be on your account within 24 hours. Traditional company loans reference an annual rate of interest plus other fees and charges. Our company loan is a pre-paid loan so you will be aware of the total amount payable including any fees, charges or charges. Then, it is broken down into either weekly or daily installment amount.
It is a Small Business Loan can be used to fulfill almost every company need, such as cash flow management, business improvements, advertising for purchasing inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate the flow of cash.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large, your business needs to be operating for a minimum of 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger company loan can be used for almost every business reason, such as company renovations, to purchase inventory or new equipment as well as for general working capital and so much more. The loan is not available for personal use.
Asset security is necessary for accessing funds over $150,000. This can be done in the form of a charge on assets, and may include registration in the PPSR or making a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally in nature rather than specifying security over an asset. The person who is signing the guarantee is personally responsible if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR allows priority over personal property to be granted depending on the date that a registration of a security interest.
The caveat can be described as a formal form of document to provide the legal claim to a property.
If you’re requesting the Larger Business Loan of more than $250K we may be able to provide a preliminary pre-approval to help make the process. It is possible to do this without a credit check, and within six hours of your initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial health checks. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to a full credit assessment and any offer you are offered could be subject to different conditions.
You are eligible to apply for a company loan if you:
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and an experienced company lending specialist will call you to assist you.
For a loan of up to $100,000 you’ll require proof of identity (valid Driver’s License), an active NZBN/IRD, and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent, 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, and interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour if you apply within quality company hours and let us make use of the advanced bank verification system to instantly verify your bank’s information online. If you choose to submit copies of your bank statement, we’ll provide a decision within just one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be capable of offer you with pre-approval conditional to your application within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Certain deals have been approved in the space of 24 hours.
The fastest way can be ensure you apply during standard business hours, and permit us to use the advance bank verification to instantly verify your bank account information online. If you choose to send us documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we can often provide an answer within an hour, provided you make your application in standard business times and let us make use of the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statements, we are able to offer the decision within 1 business day.
For Larger Business Loans ($100K or more) we could be able to provide the conditional pre-approval in about six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Certain agreements have been approved in less than 24 hours.
The fastest method would be to ensure you apply during standard business hours. Also, let us use the advance bank verification to confirm your bank details online. If you decide to upload the copies of bank statement, it takes a bit longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a particular amount, we will consider a number of elements to determine how much we can lend you well-being that is your business and the amount of repayments your company can support. The amount you receive from the loan will be determined by the specific circumstances of your company.
If you apply for a set amount, we will consider a number of elements to assess the health of the business as well as the amount of repayments your company can support. The total amount of your loan will be contingent on the particulars the business.
When you make an application for one of our company loan, we will assess the risk profile the business and offer an individualised offer that includes the loan amount, the terms and interest rates. A company loan is an upfront priced loan therefore you will know in advance the total amount to be paid, including any charges, interest rates or fees.
The interest rates on business loans rates vary due to factors including the amount borrowed, what business assets the funds are used to purchase in addition to the industry that the company operates in, how long the company has been in operation and what percentage of the business has enough cash flow to cover the loan, and also the overall well-being and creditworthiness of the company.
There are no hidden costs for our company loans, and you’ll be aware of the amount you’ll be required to pay and at what time, from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You are able to make an application for loans with with no upfront cost or the obligation to take action.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can decide to repay the entire amount of the loan at any point in time.
If you choose to take this route, please talk to one of our helpful company loan professionals. The specialists will provide you with the details of your repayment along with an early payout estimate. This will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payment in addition to 1.5 percent of the principal amount remaining plus any outstanding fees.
To make sure you do not miss payment dates and to align your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your designated company account.
Security of your data, and knowing the ways we gather information, use it, and exchange it, as well as secure your information, is crucial and a vital element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their privacy. We utilise a sophisticated bank verification system link to immediately verify your bank account details online. This allows us to provide rapid response.
Asset-based borrowing is when a company owner uses the assets they have to obtain the funds for a loan. The asset could be a personal asset like the family home, or a business asset such as a truck or piece of equipment.
The vast majority of the lenders including the major banks, prefer to secure loans against an asset. If you have trouble paying back the loan, your asset may be taken over by the lender. In essence it’s a way of securing new financing by using the value of what you already own.
Up to $150K in loans there is no requirement for asset security prior to the loan’s access, however we do require the personal guarantee. So long as you comply with the loan terms (as stipulated in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150,000, generally there is the option of a personal guarantee and security is provided in the form of an asset charge.
