The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the guidelines for eligibility for our $100K-$500K company financing.
All that is needed to start is your contact information (the name of your company and your name, as well as email or phone number) along with the amount you’d like to lend, and your monthly income.
During the process and before settlement we will need confirmation of who you are however, not in order to begin:
In addition, once we have started in the process, for loans of more than $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes via the internet or by phone. You will receive an answer within the same day and have the funds on your account within 24 hours. Traditional company loans have an annual rate of interest as well as other fees and charges. Our company loan is a cash-based loan so you will be aware in advance of the total amount payable including any interest, fees or charges. Then, it is divided into a daily or weekly installment amount.
It is a Small Business Loan can be used for almost every business purpose including managing cash flows, company remodeling, marketing to purchase inventory, 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 with a maximum of 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the loan amount.
To qualify for a loan in this amount the company needs to have been trading for at least 3 years and have an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger company loan can be used for nearly every company purpose including business renovations, to purchase equipment or inventory, as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is needed to access funding over $150,000. This is by way of charge on assets and can include registering this through the PPSR or filing a caveat.
A personal or director’s ensure is a promise to repay credit that is generally in nature rather than specifying security over an asset. The person who is signing the guarantee is personally accountable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including goods or assets). The PPSR gives the priority of personal property granted in accordance with the date on which a security interest that is registered.
Caveats are legal document filed to offer an official notice of a claim to a property.
If you’re requesting the Larger Business Loan that exceeds $250K we may be able to provide a preliminary pre-approval to help smooth out the process. We could be able to get this done without a credit check, and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial health questions. It is in no way an offer, nor is it a guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer you might receive could be on different conditions.
You can apply for a business loan if you
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and an experienced business credit specialist will be in touch to assist you.
To apply for up $100,000 you’ll need ID details (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K – $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, and interim current financial year financials such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K or more) we typically provide a response in one hour – as long as you submit your request in standard company timings and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statements , we’ll be able to offer a decision in as little as an business day.
For the Larger Business Loan ($100K or more) we might be in a position to provide the conditional pre-approval within 6 hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Some offers have been approved within 24 hours.
The fastest way is to make sure you apply during normal business hours and let us use the modern bank verification to instantly confirm your bank details online. If you send us the copies of bank statements it will take a little longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer in just one hour, provided you submit your request at normal business time and let us utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statements, we’ll be able to offer a decision within 1 business day.
For the Larger Business Loans ($100K and up) We may be able to provide you with a conditional pre-approval within about six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this can be faster depending upon the circumstances for each application. Some agreements have been approved within the space of 24 hours.
The fastest way would be to make sure you apply during standard business hours, and allow us to use our advance bank verification link to instantly confirm your bank details online. If you decide to upload duplicates of your banking statements, it takes a bit longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a certain amount we look at a variety of aspects that determine how much we can lend you health of the company and the extent of payments your business can support. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you make an application for a certain amount, we look at a range of aspects to determine how much we can lend you such as well-being of the business as well as the amount of the repayments your company is able to afford. The total amount of your loan will be contingent on the specific circumstances of your business.
If you decide to make an application for the business financing, we will assess the risk profile that you have for your company and provide an individualised offer including the amount of loan, the term and the interest rates. A company loan is an upfront-priced loan which means you know the exact amount you will have to pay, including charges, interest rates or fees.
The interest rates on company loans rates vary due to factors such as the amount that is borrowed, the company assets the money are used to purchase as well as the field the business operates in, how long the company has been in operation, whether the business has enough cash flow to fund the loan, as well as the overall well-being or financial standing of the business.
There are no hidden costs for our company loans, and you’ll know precisely how much you’ll be required to pay, and when, from the very first day. There’s no compounding interest, and the loan comes with no additional fees (as long as you make your payments in time).
We do not charge an Application Fee. You are able to get a cash loan with with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you decide to pursue this option, please contact our helpful company credit professionals. They’ll offer you with repayment details as well as an early payout amount. It will be calculated using the sum of the remaining principal amount and the accrued interest up to the date of early payout in addition to 1.5% of the principal remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow general, we provide payments that are either weekly or daily. They will be automatically deducted from your nominated business account.
The security of your personal information, as well as knowing how we collect the information we collect, use, share and protect your information, is crucial and is a crucial element of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We employ an exceptionally sophisticated bank verification system link to immediately confirm your bank account information online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where a business owner borrows from an asset that they own to obtain the funding. The asset could be an individual asset, such as the family home, or it could be a company asset such as a vehicle or piece of equipment.
The vast majority of lending institutions, even the big banks, tend to secure loans against assets. If you have trouble paying back the loan, then your asset may be transferred to the lender. In essence, it’s means of securing new funding making use of the value of what you already own.
For loans of up to $150,000, the requirement for asset security is not required upfront to access the money but we do need the personal guarantee. If you adhere to the loan terms (as detailed in the loan contract) Asset security will never be required. For loans over $150K typically, you will need an individual ensure and security in the form of an asset charge.
