The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the conditions of eligibility for our $100K to $500K business loan.
All that’s needed to get started is your contact information (company name, your name, email, phone), how much you want to borrow, as well as your monthly income.
During the process and before settlement we will need confirmation of your identity, however, not in order to begin:
Once we’ve started in the process, for loans of more than $150,000 you will also require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
The application for this Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an immediate response, and the money could be on your account within 24 hours. Traditional business loans have an interest rate per annum as well as other fees and charges. The business loan is a cash-based loan and you’ll be aware in advance of the total amount payable including any fees, interest or charges. Then, it is broken down into weekly or daily payment amount.
The Small Business Loan can be used to fulfill almost every business reason, such as control of cash flow company remodeling, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size, your business needs to have been trading for at least 3 years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger business loan can be used for nearly any business reason, such as business remodeling, buying new equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is needed for funding of more than $150,000. This is by taking a charge over assets, and could include registering this with the PPSR or making a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than stipulating the security for a particular asset. The person who is signing the guarantee is personally liable if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including the assets or goods). The PPSR gives priority over personal property to be assigned depending on the date that a security interest has been registered.
An affidavit is an official form of document to provide the legal claim to a property.
When you’re applying for the Larger Business Loan of more than $250K we can offer an initial pre-approval to make the process. We could be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial health questions. This is neither an offer nor a guarantee of credit. Unconditional approval is subject to an extensive credit evaluation and any offer you may receive may be subject to different terms.
You may be eligible for a business loan if you:
The application process is quick and simple. Just fill out the online application within a couple minutes, and a dedicated business lending specialist will contact you to guide you.
To apply for up to $100,000 you’ll require ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent, 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) we can often offer an answer in just one hour – as long as you submit your request within quality company timings and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you decide to send us copies of your bank statement, we’ll provide the decision within just 1 company day.
For the Larger Business Loan ($100K to $500K) we may be in a position to provide you with conditional pre-approval within 6 hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Some offers have been approved in 24 hours.
The quickest method can be make sure you apply during standard company hours. You can also let us use the advance bank verification link to instantly check your bank’s information online. If you opt to send us documents from your account accounts, it will take a little longer.
For the Small Business Loan ($5K or more) We can usually offer an answer within one hour, provided you submit your request at standard business time and you allow us to use the bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements we can provide the decision in just one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be in a position to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter based on the circumstances of each application. Some transactions have received approval within less than 24 hours.
The most efficient method is to ensure you apply during normal business hours and allow us to use the sophisticated bank verification to verify your bank information online. If you decide to upload duplicates of your banking statements, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount we take into consideration a range of variables in order to assess what is the health that is your company and the level of repayments your company will be able to support. The amount you receive from your loan will be contingent on the specific circumstances the company.
When you make an application for a particular amount, we look at a range of elements to determine your health of your company and the amount of payments your business will be able to support. The amount you receive from the loan will be determined by the specific circumstances that are unique to your company.
If you decide to apply for business loans with us company loan, we’ll assess the risk assessment of your company and offer you with a customised offer including the loan amount, the terms and the interest rates. It is a company loan is an upfront priced loan therefore you will be aware in advance of the total amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates depend on several factors like the amount of money borrowed, what company assets the money are used to purchase in addition to the industry that the business is operating in, how long the business is in operation, in the event that the company has enough cash flow to pay for the loan, and also the general health or financial standing of the company.
There are no hidden costs with our company loans. You’ll know precisely what you’ll need to pay, and when, right from the very first day. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You may choose to pay back all of your loan early at any time.
If you do decide to take this route, please speak to our friendly business loan experts. We will offer you with the details of your repayment and an early payment figure. It will be calculated using the sum of the principal amount remaining and accrued interest to the time of early payment, plus 1.5% of the principal balance plus any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow routine, we offer repayments that are either weekly or daily. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and safeguard your data, is crucial and an integral part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to security for our customers and privacy. We use an advanced bank verification system to immediately confirm your bank account information online, allowing us to offer a fast response.
The term "asset-based" refers to borrowing where an company owner utilises assets they own to make the funds for a loan. The asset may be an asset belonging to the personal, like the family home, or a company asset such as a vehicle or piece or equipment.
The vast majority of lending institutions, even the major banks, prefer to guarantee loans against assets. If you’re struggling to pay back the loan, then your asset may be transferred to the lender. In essence, it is a way of securing new financing using the worth of the asset you already own.
For loans of up to $150K, there is no requirement for asset security upfront to access the money, however we require a personal guarantee. require an individual guarantee. If you adhere to the terms of your loan (as stipulated in your loan contract) the security of assets will never be required. If you take out loans in excess of $150K generally there is personal ensure and security in the form of an asset charge.
