The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K business financing.
All that is needed to begin is your contact details (the name of your company, your name, email and telephone) and the amount you’d like to borrow and your monthly income.
Through the process and before settlement we’ll need confirmation of who you are but not to get started:
After we start in the process, for loans of more than $150,000 you’ll also require fundamental financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply to get the Small Business Loan in under 10 minutes online or by phone. You will receive an immediate response, and funds may be in your account within 24 hours. Traditional business loans have an interest rate per annum along with other charges and fees. This company loan is a loan that is priced upfront which means you know in advance the total amount payable including the interest, fees and charges. Then, it is broken down into a daily or weekly installment amount.
It is a Small Business Loan can be used for virtually any business need, such as the management of cash flow, business renovations, marketing to purchase inventory, new equipment, to fund general working capital and much more. The loan cannot be used for personal reasons.
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 with a term fixed for up to 36 months. Repayments are weekly or fortnightly depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan in this amount the company needs to have been operating for at least three years and generate an annual revenue of $700K. Your company must belong to 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 to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used to fund almost every business need, including business improvements, purchasing equipment or inventory as well as for general working capital and so much more. The loan is not available for personal use.
Asset security is necessary to access funding over $150,000. It’s by taking a charge against assets, and could include registration in the PPSR or registering a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is general in nature rather than defining the security of a specific asset. The person who signs the ensure is personally responsible if the business borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including goods or assets). The PPSR gives preference over private property granted in accordance with the date on which a security interest was registered.
A caveat is a legal document filed to provide the legal claim on a property.
If you’re requesting an enterprise loan of more than $250,000 we may be able to provide an initial pre-approval that will help make the process. We might be able to get this done without credit checks and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial health questions. This is not an offer or guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you are offered could be based on different terms.
You can apply for a company loan if you
The application process is quick and simple. Simply complete the online form within a couple minutes, and an experienced company lending specialist will call you to assist you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent and 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, and interim financials for the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we can often provide an answer in just one hour – as long as you make your application during standard company hours and let us make use of the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements , we are able to offer an answer within the span of one business day.
For Larger Business Loans ($100K and up) we might be in a position to offer you with conditional pre-approval in about six hours. After you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Certain offers have been approved in less than 24 hours.
The quickest way to apply is to ensure you apply during standard business hours. You can also allow us to use our advance bank verification to instantly confirm your bank details online. If you decide to upload the copies of bank statement, it will take a little longer.
For the Small Business Loan ($5K or more) We can usually offer a response in one hour – provided you submit your request during standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements we can provide an answer in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be likely to offer you with conditional pre-approval in around six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some deals have been approved in just 24 hours.
The quickest method can be make sure you apply during normal business hours and allow us to use the sophisticated bank verification link to verify your bank account information online. If you send us duplicates of your banking statements it will take a little longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount, we will consider a number of aspects for determining what is the well-being for your business and the extent of payments your company is able to afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your company.
When you make an application for a particular amount, we look at a range of elements to determine how much we can lend you such as well-being that is your business and the extent of payments your business can afford. The total amount of your loan will depend on the specific circumstances that are unique to your business.
If you decide to request the company loans, we will assess the risk profile that you have for your company and offer you with a customised offer including loan amount, term and the interest rates. The business loan is an upfront priced loan and you’ll be aware in advance of the total amount you will have to pay, including interest rates, fees or charges.
The interest rates on business loans rates depend on a variety of factors like the amount of money of money borrowed, the business assets the funds will be used for in addition to the industry that the business is in, how long the company has been running as well as what percentage of the business has sufficient cash flow to fund the loan, and also the overall well-being or creditworthiness of the company.
There aren’t any hidden charges for our business loans, and you’ll know precisely what you be required to pay, and when, starting from day one. There’s not any 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 are able to make an application for loans with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can choose to repay all of your loan in full at any time.
If you do decide to pursue this option, please contact our helpful company loan experts. They’ll provide you with repayment details and an early payment figure. This will be calculated as the sum of the principal balance plus any accrued interest as of the time of early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
To ensure that you don’t miss repayments and to fit in your cash flow schedule, we provide payments that are either weekly or daily. These are automatically deducted from your nominated company account.
The security of your personal information, as well as making it clear how we collect data, process, exchange and secure your information, is of paramount importance and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We use an advanced bank verification system that allows you to immediately confirm your bank account information online, allowing us to offer an immediate response.
The term "asset-based" refers to borrowing where an business owner uses the assets they have to get the funds for a loan. The asset could be an individual property, such as the family home or an company asset such as a vehicle or other piece of machinery.
The majority of banks, not just the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan, your asset may be sold by the lender. In essence, it’s a way of securing new financing using the worth of the asset you already have.
For loans up to $150,000 it is not necessary to secure assets before you are able to access the money However, we do need the personal guarantee. As long as you follow your loan commitments (as stipulated in the loan contract) the security of assets is not needed. For loans of over $150K generally, there is a personal ensure and security is provided in the form of charges on assets.
