The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Review the eligibility requirements for our $100K to $500K company financing.
All you need for starting is your contact details (company name, your name, email or phone number) and the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will require confirmation of who you are but not before we can begin:
After we start with loans of more than $150,000 you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
The application for the Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and funds may be in your account in 24 hours. Traditional company loans refer to an interest rate per annum along with other charges and fees. The company loan is a pre-paid loan which means you know ahead of time the total amount to be paid, including the interest, fees and charges. This is then broken down into weekly or daily amount to be paid back.
A Small Business Loan can be used to fulfill almost every company purpose including managing cash flows, company remodels and marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your company needs to be trading for at least 3 years and generate an annual revenue of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large company loan can be used to fund almost all company reason, such as company renovations, purchase of equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for funding of more than $150,000. It’s as a result of an charge against assets, and may be registered on the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is generally in nature rather than stipulating security over a particular asset. The person who signs the guarantee is personally responsible if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR permits priority over personal property to be assigned in accordance with the date on which a security interest was registered.
A caveat is a legal document lodged to provide the public notice of a legal claim to a property.
If you’re seeking an enterprise loan of $250,000 or more we may be able to provide an initial pre-approval in order to simplify the process. It is possible to make this decision without a credit verification and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial well-being questions. This is not an offer of credit or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you might receive could be based on different conditions.
You may be eligible for a company loan if you:
The process for applying is fast and easy. Complete the online form in few minutes and an experienced business expert in lending will contact you to guide you through the process.
To apply for up $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.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Application details including credit consent twelve months of bank statements, IRD statement, last 2 years finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide an answer within one hour – as long as you make your application within quality business time and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you decide to submit copies of your bank statement, we’ll provide a decision in as little as one business day.
For the Larger Business Loan ($100K or more) we may be capable of offer the conditional pre-approval within 6 hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, it could be faster based on the particular circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way would be to ensure you apply during normal business hours, and allow us to use our advance bank verification to confirm your bank details online. If you choose to send us documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within an hour – as long as you submit your request during normal business time and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements we can offer 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 the conditional pre-approval in about six hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this can be faster depending on the particular circumstances of each application. Some agreements have been approved in the space of 24 hours.
The fastest method is to make sure you apply during normal business hours, and let us use the sophisticated bank verification link to instantly verify your bank information online. If you choose to upload the copies of bank statement, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a certain amount, we will consider a number of variables to determine the well-being that is your company and the level of the repayments your company is able to afford. The amount you receive from your loan will depend on the specifics for your business.
If you apply for a certain amount, we will consider a number of factors to assess your health for your company and the level of repayments that your business can afford. The amount you receive from your loan will be determined by the particular circumstances of your business.
When you request business loans with us company financing, we’ll assess the risk assessment that you have for your business and provide an individualised offer that includes the amount of loan, the term and interest rates. It is a business loan is an upfront priced loan so you will be aware in advance of the total amount payable including any charges, interest rates or fees.
The interest rates on business loans rates vary due to factors such as the amount that is borrowed, the business assets the funds will be used for in addition to the industry that the business operates in, the long the company has been in operation as well as how long the business has enough cash flow to pay for the loan, and general well-being or creditworthiness of the company.
There aren’t any hidden charges for our company loans, and you’ll know precisely how much it is that you be required to pay and when, right from the very first day. There’s no compounding and no extra fees (as as you make your payments on time).
We do not charge an application fee. You can make an application for loans without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You may choose to pay back the total amount of your advance loan at any time.
If you do decide to take this route, please talk to one of our helpful business lending professionals. We will offer you with the details of your repayment along with an early payout estimate. This is calculated as the sum of the principal remaining and the accrued interest up to the time of the early payout in addition to 1.5 percent of the principal balance plus any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Security of your data, and making it clear how we collect the information we collect, use, share and ensure the security of your information is of huge importance and is an essential element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to protecting the security of customers and security. We make use of an advanced bank verification system to instantly verify the bank account details online. This allows us to provide rapid response.
An asset-based loan is when a company owner uses an asset that they own to obtain the funds for a loan. The asset can be an individual property, such as the family home or it could be a company asset like a truck or piece of equipment.
The vast majority of banks, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan, the asset might be sold by the lender. In essence it is an opportunity to secure new financing by using the worth of the asset you already have.
For loans up to $150K there is no requirement for asset security upfront to access the money but we require a personal guarantee. need the personal guarantee. As long as you follow the terms of your loan (as detailed in the loan contract), asset security is not required. For loans over $150,000 generally, you are able to get the option of a personal guarantee and security that is in the form a charge over assets.
