The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K company credit.
All you need to get started is your contact information (the name of your company, your name, email address and telephone) as well as the amount you’d like to borrow, and your monthly revenue.
In the course of the process and before settlement we will need confirmation of your identity, but not before we can begin:
Once we’ve started, for loans that exceed $150,000, you’ll need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
Apply to this Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an instant response and have the funds available in just 24 hours. Traditional company loans are based on an interest rate per annum as well as other fees and charges. Our company loan is a cash-based loan so you will know in advance the total amount payable including the interest, fees and charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for virtually any business reason, such as managing cash flows, business renovations, marketing for purchasing inventory or new equipment, or 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 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 you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size, your business needs to be trading for at least 3 years and generate an annual revenue of $700K. 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 of proving at least 12 months of trading.
A Business Loan of a larger size can be used for nearly any business need, including company improvements, purchasing inventory or new equipment as well as for general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed for funding of more than $150,000. It is usually by way of charge against assets, and could include the registration of this on the PPSR or making a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature rather than stipulating security over a particular asset. The person who is signing the ensure is personally responsible if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including the assets or goods). The PPSR gives preference over private property granted depending on the date that a security interest has been registered.
A caveat is a legal document that is filed to offer the public notice of a legal claim against a property.
If you’re applying for the Larger Business Loan that is greater than $250,000 we may be able to provide a preliminary pre-approval to help ease the process. We may be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial health questions. It is neither an offer nor a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer that you receive could be based on different conditions.
You may apply for a company loan if you:
The application process is simple and simple. Just fill out the online application in few minutes and a dedicated company loan specialist will contact you to assist you.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent and 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we typically provide an answer within one hour – as long as you submit your request during quality business hours and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your bank statements we can offer a decision in as little as the span of one company day.
If you are applying for a Larger Business Loan ($100K or more) we might be capable of offer you with conditional pre-approval in around 6 hours. After you’ve signed your pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The quickest method would be to ensure you apply during normal company hours. You can also permit us to use the advance bank verification link to verify your bank information online. If you decide to send us copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer in just one hour – as long as you make your application in normal business times and you allow us to make use of the advanced bank verification system to immediately verify your bank account information online. If you decide to submit copies of your bank statements we can offer a decision in just an business day.
For the Larger Business Loans ($100K up to $500,000) We may be able to offer you with a conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Certain agreements have been approved within just 24 hours.
The fastest method is to make sure you apply during standard business hours, and permit us to use the sophisticated bank verification to instantly verify your bank information online. If you opt to send us documents from your account statement, it will take a little longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of elements that determine your health that is your business and the extent of payments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances the business.
When you make an application for a particular amount, we look at a range of factors to assess how much we can lend you such as health of the business and the level of repayments that your company can support. The total amount of the loan will be determined by the specifics the business.
When you request the business credit, we’ll assess the risk assessment of your company and provide an individualised offer that includes the loan amount, the terms and the interest rates. It is a company loan is a loan that is priced upfront and you’ll know the exact amount payable including any costs, fees, or interest rates.
Business loan interest rates differ based on various variables like the amount to be borrowed, the company assets the funds are used to purchase as well as the field the business operates in, how long the business has been operating and in the event that the business has enough cash flow to pay for the loan, as well as the general health as well as creditworthiness business.
There are no hidden fees with our business loans, and you’ll be aware of the amount it is that you need to pay and when, starting from the first day. There’s no compounding and the loan comes with no additional fees (as long as you make your payments on time).
We do not charge an application fee. You are able to make an application for loans with no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the total amount of your loan at any point in time.
If you are deciding to do this please contact our helpful business loans experts. They will offer you with the details of your repayment along with an early payout estimate. The figure will be calculated as the sum of the principal balance and accrued interest to the time of the early payout and 1.5 percent of the principal remaining and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line your cash flow schedule, we provide payments that are either daily or weekly. These are automatically deducted from the nominated company account.
Security of your data, and knowing how we collect the information we collect, use, share and safeguard your data, is of huge importance and a vital element of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their security. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account details online so we can offer quick responses.
Asset-based borrowing occurs when an company owner makes use of the assets they have to get the funding. The asset can be either a personal asset like the family home or an business property like a truck or piece of equipment.
The majority of lenders, not just the largest banks, are inclined to secure loans against an asset. If you have trouble paying back the loan then your asset may be transferred to the lender. In essence, it is a way of securing additional financing making use of the value of what you already have.
For loans of up to $150,000, there is no requirement for asset security before you are able to access the money, however we do require a personal guarantee. In the event that you fulfill the loan terms (as stated in the loan contract) the security of assets is not required. If you take out loans in excess of $150K generally, you are able to get a personal ensure and security in the form an asset charge.
