The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Looking for more funding? Review the guidelines for eligibility for our $100K-$500K company financing.
All that’s needed for starting is your contact information (company name, your name, email address, phone), how much you’d like to borrow, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are but not before we can begin:
In addition, once we have started in the process, for loans greater than $150,000 you will also require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply to this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive a same day response and have the funds in your account within 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. Our business loan is an upfront priced loan which means you know in advance the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly payment amount.
A Small Business Loan can be used for almost every company need, such as cash flow management, business improvements, advertising to purchase inventory or 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 range from $100,000 to $500,000 over a fixed term up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit that is this large the company needs to be in operation for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Larger Business Loan can be used to fund almost any company need, including company improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This can be done by taking a charge on assets and can include registration in the PPSR or filing as a caveat.
A personal or director’s guarantee is a promise to repay credit that is generally based rather than defining the security for a particular asset. The person who is signing the ensure is personally liable in the event that the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including objects or assets). The PPSR permits the priority of personal property granted according to the date the security interest has been registered.
A caveat is a legal document filed to offer notice of a legal claim to a property.
When you’re applying for the Larger Business Loan that exceeds $250K we can offer an initial pre-approval in order to smooth out the process. We could be able to do this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial well-being questions. It is neither an offer nor a guarantee of funds. Acceptance without condition is subject to an extensive credit evaluation and any offer that you might receive could have different conditions.
You may be eligible for a company loan if you:
The application process is simple and simple. Simply complete the online form within a few minutes and an experienced business credit specialist will be in touch to help you.
To be eligible for up to $100,000 you’ll require the right identification documents (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K to $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Application details including credit consent, 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, plus interim current financial year financials including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour if you make your application at standard business times and let us utilise the bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statements we can provide an answer within 1 business day.
For the Larger Business Loan ($100K up to $500,000) we might be in a position to provide the conditional pre-approval in about 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Some deals have been approved in less than 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and permit us to use the advanced bank verification system to verify your bank information online. If you opt to send us copies of your bank statement, it will take a little longer.
For the Small Business Loan ($5K and up) we typically offer an answer within one hour, provided you make your application in normal business times and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statement, we’ll provide an answer in just 1 business day.
For Larger Business Loans ($100K up to $500,000) we might be in a position to provide you with conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Some agreements have been approved in the space of 24 hours.
The quickest method would be to make sure you apply during standard business hours. Also, allow us to use our advance bank verification to verify your bank information online. If you opt to send us the copies of bank statements, it will take a little longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of variables for determining how much we can lend you well-being of the company and the level of the repayments your business can afford. The amount you receive from the loan will be determined by the specifics that are unique to your company.
When you make an application for a particular amount, we consider a variety of elements to determine the health of your business as well as the amount of repayments your company is able to afford. The amount you receive from your loan will depend on the specific circumstances for your company.
If you decide to make an application for business loans with us business loan, we’ll assess the risk profile the business and offer you with a customised proposal that includes the amount of loan, the term and interest rates. A business loan is an upfront cost loan therefore you will know the exact amount due, which includes any charges or interest.
Interest rates for business loans rates differ based on various factors such as the amount that is that is borrowed, what company assets the funds are used to purchase, the industry the company operates in, how long the business has been in operation for, what percentage of the company has sufficient cash flow to cover the loan, and general health or financial standing of the company.
There are no hidden fees with our business loans. You’ll be aware of the amount you be required to pay and when, from the first day. There’s no compounding and no additional fees (as as long as you pay your payments in time).
We do not charge an Application Fee. You are able to apply for a loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated with 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% of the loan amount.
You may choose to pay back the total amount of your loan in full at any time.
If you are deciding to pursue this option, please speak to our friendly company lending experts. They’ll provide you with details on repayment and an early payout figure. It will be calculated using the sum of the principal remaining and any accrued interest at the date of early payout and 1.5% of the principal balance and any fees that remain unpaid.
To ensure you do not miss repayments and to fit in your cash flow schedule, we provide payments that are either daily or weekly. They will be automatically deducted from your nominated company account.
The security of your personal information, as well as being transparent about how we collect data, process, exchange and secure your information, is of huge importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We employ a highly sophisticated bank verification system to instantly confirm your bank account information online. This allows us to offer a fast response.
Asset-based borrowing is when the company owner makes use of an asset they own to obtain the funding. The asset may be an individual property, such as the family home, or a company asset like a truck or piece of equipment.
The majority of the lenders including the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan then your asset may be transferred to the lender. In essence, it is the process of securing new financing by using the worth of the asset you already have.
For loans of up to $150,000, no asset security is required upfront to access the money However, we require a personal guarantee. require a personal guarantee. So long as you comply with the loan terms (as detailed in the loan contract) Asset security will never be required. For loans of over $150K generally there is an individual ensure and security in the form of an asset charge.
