The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K company loans.
All that’s required for starting is your contact details (the name of your company, your name, email and phone) and the amount you want to borrow, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not to get started:
After we start in the process, for loans greater than $150,000 you’ll need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and have the funds in your account in 24 hours. Traditional business loans refer to an annual rate of interest plus other fees and charges. We offer a company loan is a loan that is priced upfront so you will be aware in advance of the amount you will have to pay, including the interest, fees and charges. This is then broken down into either weekly or daily repayment figure.
The Small Business Loan can be used for nearly every business reason, such as managing cash flows, company improvements, advertising, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee, determined at 2.5% of the loan amount.
To qualify for a loan in this amount, your company needs to be operating for at least three years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A Larger Business Loan can be used for almost all business need, including company remodeling, buying equipment or inventory for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is needed for funding of more than $150,000. This can be done in the form of a charge against assets, and may include the registration of this with the PPSR or registering as a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature rather than stipulating security over a particular asset. The person who signs the guarantee is personally responsible if the business borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests that are registered for personal property (including items or assets). The PPSR gives priority over personal property to be granted according to the date the security interest has been registered.
Caveats are legal document lodged to provide the legal claim on a property.
When you’re applying for a Larger Business Loan that exceeds $250K, we may offer a preliminary pre-approval to help smooth out the process. It is possible to apply for this without a credit check and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial health checks. It 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 have different terms.
You may apply for a business loan if you:
The application process is quick and easy. Just fill out the online application within a few minutes and a dedicated company loan specialist will contact you to help you.
For a loan of up to $100,000, you’ll need the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent as well as 12 months of bank records, IRD statement, last 2 years finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we typically offer an answer in just one hour, provided you make your application in quality business time and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statements we can offer a decision in just the span of one business day.
If you are applying for a Larger Business Loan ($100K and up) we may be likely to offer you with pre-approval conditional to your application in about six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based upon the circumstances for each application. Some agreements have been approved in 24 hours.
The most effective method can be ensure you apply during standard business hours. You can also let us use the advance bank verification link to instantly check your bank’s information online. If you decide to upload documents from your account statements it can take a bit longer.
For the Small Business Loan ($5K or more) we typically offer an answer in just one hour – as long as you make your application in standard business timings and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you choose to submit copies of your bank statements, we’ll be able to provide the decision in as little as one business day.
For the Larger Business Loans ($100K and up) We may be able to offer you with conditional pre-approval in about six hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this can be faster depending on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The most effective method is to make sure you apply during normal business hours, and allow us to use our sophisticated bank verification to instantly verify your bank account information online. If you opt to send us documents from your account statements, it may take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of aspects to determine how much we can lend you health that is your business and the amount of the repayments your business can support. The amount you receive from your loan will depend on the particular circumstances that are unique to your business.
If you apply for a certain amount, we look at a range of aspects to assess the well-being of the company and the level of repayments your business is able to afford. The amount you receive from your loan will be determined by the particulars of your company.
When you make an application for business loans with us business loans, we’ll assess the risk profile of your company and offer you with a tailored offer including the amount of the loan, the duration and interest rates. It is a business loan is an upfront cost loan so you will be aware in advance of the total amount payable including any interest rates, fees or charges.
Business loan interest rates differ based on various factors including the amount of money borrowed, the business assets the money will be used for and the sector the business is operating in, how long the company has been in operation as well as how long the business has enough cash flow to fund the loan, as well as the general well-being and creditworthiness of the business.
There are no hidden costs for our business loans. You’ll know precisely how much you need to pay and when, right from the first day. There’s not any compounding interest and no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to make an application for loans with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay all of your loan at any point in time.
If you are deciding to pursue this option, please speak to our friendly business loan professionals. We will provide you with details on repayment and an early payment figure. The figure will be calculated as the sum of the principal remaining and any accrued interest at the time of early payment in addition to 1.5% of the principal balance plus any outstanding fees.
To ensure you do not miss payments and to work your cash flow schedule, we provide repayments either weekly or daily. They will be automatically deducted from your nominated company account.
Security of your data, and making it clear the ways we gather information, use it, and exchange it, as well as secure your information, is crucial and a vital aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to protecting the security of customers and security. We employ a highly sophisticated banking verification system to instantly verify the bank account details online to provide a fast response.
Asset-based borrowing occurs when a company owner uses assets they own to obtain the funds for a loan. The asset can be either an individual asset, such as the family home or an company asset such as a vehicle or piece of equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to guarantee loans against an asset. If you’re having trouble paying back the loan, your asset may be offered for sale by the lender. In essence, it’s an opportunity to secure new financing making use of the value of what you already own.
For loans up to $150K no asset security is required before you can access the money, however we do require the personal guarantee. As long as you follow your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150K generally there is personal ensure and security in the form of charges on assets.
