The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Review the guidelines for eligibility for our $100K-$500K company credit.
All that’s required to begin is your contact information (the name of your company, your name, email, phone) along with the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we will require confirmation of your identity however, not in order to begin:
After we start with loans over $150,000 you’ll need fundamental 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. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply to this Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and the funds could be in your account in 24 hours. Traditional business loans refer to an annual interest rate plus other fees and charges. Our company loan is a pre-paid loan therefore you’ll be aware of the total amount to be paid, including any fees, interest or charges. Then, it is broken down into either weekly or daily payment amount.
A Small Business Loan can be used to fulfill almost every company need, such as 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 to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. The repayments are made weekly or fortnightly depending on the flow of cash.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the loan amount.
To be eligible for a loan of this size the business needs to be in operation for at least 3 years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Larger Business Loan can be used to fund almost any business need, including business remodeling, buying inventory or new equipment for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is required for accessing funds over $150,000. It is usually in the form of a charge over assets and can include registering this on the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature rather than specifying the security of a specific 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 that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR allows the priority of personal property assigned according to the date the security interest was registered.
Caveats are legal document filed to provide notice of a legal claim to property.
When you’re applying for the Larger Business Loan that is greater than $250K we can offer an initial pre-approval to smooth out the process. We may be able to apply for this without credit checks and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial well-being questions. It’s not an offer or guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer that you are offered could have different conditions.
You may be eligible for an company loan if you;
The application process is fast and easy. Just fill out the online application in just a few minutes, and a dedicated company loan specialist will be in touch to assist you.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s License) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Application details including credit consent and 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, as well as interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K and up) we can often offer an answer within an hour, provided you apply in standard business timings and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements , we are able to provide an answer in just one company day.
For Larger Business Loans ($100K or more) we may be likely to provide you with a conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this can be quicker based on the specifics of each application. Certain deals have been approved in less than 24 hours.
The most effective method for you to apply is make sure you apply during standard business hours, and let us use the advanced bank verification system link to instantly confirm your bank details online. If you opt to send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within one hour – provided you submit your request during normal business times and permit us to use the bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements we can provide an answer within an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be able to offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain offers have been approved in just 24 hours.
The fastest way can be ensure you apply during normal business hours. Also, permit us to use the advanced bank verification system link to instantly verify your bank account information online. If you opt to send us duplicates of your banking statements, it will take a little longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount we will consider a number of elements in order to assess the well-being for your business as well as the amount of the repayments your company will be able to support. The amount you receive from your loan will depend on the particular circumstances for your company.
If you apply for a certain amount, we consider a variety of aspects to determine your well-being of the business and the level of payments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances of your business.
If you decide to request the business financing, we will assess the risk profile that you have for your company and offer you with a tailored offer including the amount of loan, the term and interest rates. A business loan is an upfront cost loan so you will know the exact amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates vary due to variables like the amount to be borrowed, what business assets the funds are used to purchase and the sector the business operates in, the long the company has been running and what percentage of the business has enough cash flow to fund the loan, as well as the overall health as well as creditworthiness company.
There are no hidden costs with our business loans, and you’ll know exactly how much you be required to pay, and when, right from the day you sign up. There’s no compounding interest, and there are no additional charges (as long as you are able to make your payments punctually).
We don’t charge an application fee. You can apply for a loan with no upfront cost or obligation to proceed.
The Origination Fee includes the expenses associated with the setting up and management of the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can repay all of your loan in full at any time.
If you do decide to do this please speak to our friendly company loan professionals. The experts will offer you with repayment details along with an early payout estimate. It will be calculated using the sum of the principal amount remaining and accrued interest to the time of the early payout and 1.5% of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from your designated business account.
The security of your personal information, as well as knowing how we collect the information we collect, use, share and ensure the security of your information is crucial and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We employ a highly sophisticated bank verification system to immediately confirm your bank account information online. This allows us to provide an immediate response.
The term "asset-based" refers to borrowing where an business owner makes use of the assets they have to secure the loan. The asset may be a personal asset like the family home, or it could be a business asset such as a truck or piece of equipment.
The vast majority of the lenders including the largest banks, are inclined to make loans secured by an asset. If you have trouble paying back the loan, then your asset may be taken over by the lender. In essence, it is an opportunity to secure new financing by taking advantage of the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. require an individual guarantee. So long as you comply with the terms of your loan (as stipulated in the loan contract) the security of assets will never be needed. If you take out loans in excess of $150K generally, there is an individual guarantee and security in the form of charges on assets.
