The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Check out the conditions of eligibility for our $100K to $500K business credit.
All that is needed to get started is your contact details (the name of your company, your name, email and telephone) along with the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are, but not to get started:
After we start when it comes to loans greater than $150,000 you’ll also require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
You can apply for the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and have the funds on your account within 24 hours. Traditional company loans refer to an interest rate per annum plus other fees and charges. We offer a company loan is a cash-based loan which means you be aware of the total amount to be paid, including any fees, charges or charges. This is then broken down into weekly or daily repayment figure.
The Small Business Loan can be used for virtually every business reason, such as control of cash flow business remodels and marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A larger business loan can be used to fund almost all company reason, such as company improvements, purchasing equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal purposes.
Asset security is required for accessing funds over $150,000. This is by way of charge on assets, and may include registration on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally based rather than defining security over an asset. The person who is signing the ensure is personally responsible if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including goods or assets). The PPSR permits priority over personal property to be assigned in accordance with the date on which a registration of a security interest.
A caveat is a legal form of document to offer the legal claim to a property.
If you’re seeking the Larger Business Loan of $250K or more we can offer an initial pre-approval to ease the process. We might be able to make this decision without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health questions. This is not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you may receive may be on different conditions.
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 an experienced company lending specialist will call you to assist you.
To apply for up to $100,000, you’ll require the right identification documents (valid Driver’s License) along with an active NZBN/IRD, and at least 6 months of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, in addition to interim financials from the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K to $100K) we can often offer a response in one hour, provided you submit your request within quality business time and you allow us to utilise the bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your bank statements we can offer an answer in as little as one business day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain agreements have been approved within just 24 hours.
The most efficient method for you to apply is make sure you apply during normal company hours and allow us to use the advanced bank verification system link to check your bank’s information online. If you send us duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide a response in one hour – provided you submit your request in standard business hours and let us make use of the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements, we are able to provide an answer within 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be able to offer you with pre-approval conditional to your application in around 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 can be faster depending on the specifics of each application. Certain deals have been approved in 24 hours.
The most effective method would be to make sure you apply during normal business hours, and let us use the advance bank verification to instantly check your bank’s information online. If you upload documents from your account statements it may take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we will consider a number of elements to determine how much we can lend you well-being of the company and the extent of payments your business can support. The amount you receive from the loan will be determined by the specifics for your business.
If you apply for a particular amount, we look at a range of elements to assess the health that is your business as well as the amount of the repayments your business can support. The amount you receive from the loan will be determined by the specific circumstances the business.
When you make an application for business loans with us business loan, we’ll assess the risk profile that you have for your company and offer an individualised offer, including the amount of loan, the term and interest rates. A business loan is an upfront priced loan therefore you will know in advance the total amount to be paid, including any charges, interest rates or fees.
Interest rates for company loans rates vary due to factors including the amount borrowed, the company assets the funds will be used for, the industry the company operates in, how long the business has been running, in the event that the business has sufficient cash flow to cover the loan, and also the general health or financial standing of the company.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you need to pay and at what time, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You can apply for a loan without any upfront costs 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 cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay the total amount of your loan early at any time.
If you are deciding to pursue this option, please talk to one of our helpful company loan specialists. They will provide you with repayment details and an early payment figure. This is calculated as the total of the principal remaining plus any accrued interest as of the time of the early payout plus 1.5 percent of the remaining principal plus any outstanding fees.
To make sure that you don’t miss due dates and also to be in line with your cash flow general, we provide repayments either daily or weekly. These are automatically withdrawn from your nominated company account.
Making sure that your information is secure, and being upfront about how we collect, use, exchange and safeguard your data, is of paramount importance and is an essential aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to protecting the security of customers and privacy. We use an advanced bank verification system that allows you to instantly verify the bank account details online, allowing us to provide an immediate response.
Asset-based borrowing is when a company owner makes use of an asset that they own to make a loan. The asset can be either an asset belonging to the personal, like the family home or it could be a business asset such as a vehicle or piece or equipment.
The majority of banks, even the largest banks, are inclined to make loans secured by an asset. If you’re struggling to pay back the loan, then the asset could be transferred to the lender. In essence, it’s an opportunity to secure new funding using the value of what you already have.
For loans that exceed $150,000, no asset security is required before you can access the money but we require a personal guarantee. need the personal guarantee. So long as you comply with the terms of your loan (as specified in your loan contract document), asset security will never be required. For loans over $150K generally, there is the option of a personal ensure and security that is in the form a charge over assets.
