The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Find out the eligibility requirements for our $100K-$500K business loans.
All you need for starting is your contact information (company name, your name, email and phone) along with the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll require confirmation of who you are, but not before we can begin:
In addition, once we have started in the process, for loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
You can apply to get your Small Business Loan in under 10 minutes over the phone. You’ll get an immediate response, and funds may be on your account within 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. We offer a company loan is an upfront priced loan therefore you’ll be aware of the total amount to be paid, including any interest, fees or charges. This is then divided into weekly or daily payment amount.
A Small Business Loan can be used to fulfill almost any company need, such as managing cash flows, business remodels and marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a loan of this size the business needs to be in operation for at least 3 years with an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Larger Business Loan is a great option for almost all company purpose including company renovations, to purchase new equipment or inventory for general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary for funding of more than $150,000. This is in the form of a charge on assets and can include registering this with the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is general in nature rather than defining the security for a particular asset. The person who is signing the ensure is personally liable if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be granted in accordance with the date on which a security interest has been registered.
An affidavit is an official form of document to provide the legal claim to a property.
If you’re requesting an enterprise loan of more than $250,000 we can offer a preliminary pre-approval to help ease the process. We could be able to do this without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial health checks. This is not an offer of credit or guarantee of financing. A conditional approval is subject a full credit assessment and any offer you receive could be on different terms.
You may be eligible for a business loan if you;
The application process is quick and easy. Just complete the online application within a few minutes and an experienced company loan specialist will call you to guide you.
For a loan of up to $100,000 you’ll require identification details (valid Driver’s Licence) along with an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent and 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically provide an answer within an hour, provided you make your application in quality business timings and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statement, we’ll offer a decision within 1 business day.
For the Larger Business Loan ($100K up to $500,000) we might be in a position to provide you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Certain transactions have received approval within 24 hours.
The fastest way for you to apply is make sure you apply during standard company hours. You can also allow us to use the advance bank verification link to instantly check your bank’s information online. If you decide to upload duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer a response in one hour, provided you make your application during standard business hours and you allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your bank statements, we are able to provide a decision within 1 business day.
If you are applying for Larger Business Loans ($100K and up) We may be in a position to offer the conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Some deals have been approved in the space of 24 hours.
The quickest method is to ensure you apply during normal business hours, and allow us to use our sophisticated bank verification link to instantly check your bank’s information online. If you decide to upload copies of your bank statements it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we will consider a number of aspects for determining the well-being of your company as well as the amount of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the particular circumstances the company.
If you apply for a specific amount we consider a variety of elements to assess your health for your business and the amount of repayments that your company is able to afford. The amount you receive from your loan will depend on the specific circumstances of your company.
If you decide to make an application for the business credit, we will assess the risk profile for your business and provide you with a tailored offer that includes the amount of loan, the term 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 to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of variables like the amount to be borrowed, what business assets the money will be used for in addition to the industry that the company operates in, the long the company has been operating, how long the business has enough cash flow to cover the loan, and the general well-being as well as creditworthiness business.
There are no hidden costs with our business loans. You’ll be aware of the amount you’ll need to pay and when, right from day one. There’s no compounding and there are no additional charges (as as you make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan with absolutely no upfront cost and no the obligation to take action.
The Origination Fee is the cost associated with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You may choose to pay back the total amount of your loan early at any time.
If you do decide to take this route, please call our helpful company loan experts. They will offer you with details for repayment as well as an early payout amount. It will be calculated using the total of the principal amount remaining and the accrued interest up to the time of early payout and 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your designated business account.
Making sure that your information is secure, and being clear about how we collect the information we collect, use, share and secure your information, is crucial and an integral part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We employ an exceptionally sophisticated bank verification system link to immediately verify your bank account details online so we can provide quick responses.
Asset-based borrowing occurs when the business owner utilises an asset that they own to make the loan. The asset may be an individual property, such as the family home or it could be a company asset such as a vehicle or piece or equipment.
The vast majority of the lenders even the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan, then the asset might be sold by the lender. In essence it’s a way of securing new financing taking advantage of the value of what you already have.
For loans that exceed $150K, no asset security is required prior to the loan’s access but we do require a personal guarantee. So long as you comply with the loan terms (as detailed in the loan contract) Asset security is not needed. For loans of over $150K typically, you will need an individual guarantee and security in the form a charge over assets.
