The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K business credit.
All you need for starting is your contact information (the name of your company, your name, email or phone number) and the amount you’d like to borrow, and your monthly earnings.
During the process and before settlement we will need confirmation of who you are, but not for starting:
Additionally after we get started in the process, for loans over $150,000 you’ll also need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and the funds could be on your account within 24 hours. Traditional company loans are based on an annual interest rate plus other fees and charges. Our business loan is a loan that is priced upfront so you will know ahead of time the amount you will have to pay, including the interest, fees and charges. Then, it is divided into weekly or daily amount to be paid back.
A Small Business Loan can be used for virtually every company use, including control of cash flow business improvements, advertising, to purchase inventory or new equipment, or as general working capital and much more. The loan is not available for personal purposes.
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 with a maximum of 36 months. Repayments are either weekly or fortnightly, depending on your cash flow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To be eligible for a credit of this size, your company needs to be in operation for at least 3 years, and have an annual income of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large business loan can be used for almost every company need, including business improvements, purchasing equipment or inventory or as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required for funding of more than $150,000. This is by way of charge against assets, which could also include the registration of this with the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature, rather than stipulating security over an asset. The person who signs the guarantee is personally accountable if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It contains security interests registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be assigned in accordance with the date on which a security interest was registered.
A caveat is a legal document lodged to provide notice of a legal claim against a property.
If you’re seeking the Larger Business Loan of more than $250,000 it is possible to offer a preliminary pre-approval to help make the process. We may be able to apply for this without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health questions. This is neither an offer nor a guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer that you are offered could be based on different terms.
You are eligible to apply for an company loan if you
The application process is simple and easy. Just fill out the online application in just a few minutes, and a dedicated business lending specialist will be in touch to guide you.
To be eligible for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Information on the application including credit consent and 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we usually provide an answer within one hour – as long as you apply in quality business timings and let us utilise the bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements , we will be able to provide a decision within just the span of one business day.
If you are applying for a Larger Business Loan ($100K or more) we might be able to provide you with a conditional pre-approval in around 6 hours. After you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based upon the circumstances for each application. Certain offers have been approved within 24 hours.
The quickest way to apply would be to make sure you apply during standard business hours, and allow us to use our advance bank verification to verify your bank information online. If you decide to send us copies of your bank statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we typically offer a response in one hour – as long as you submit your request at standard business timings and you allow us to use the bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statements we can offer an answer in as little as one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be capable of provide you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, this can be faster depending upon the circumstances for each application. Certain agreements have been approved within 24 hours.
The fastest method can be make sure you apply during standard business hours. You can also permit us to use the advanced bank verification system link to confirm your bank details online. If you opt to upload duplicates of your banking accounts, it will take a little longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a certain amount, we will consider a number of factors for determining the well-being of your business and the level of payments your company can support. The total amount of your loan will be contingent on the specifics the business.
When you submit an application for a certain amount, we consider a variety of aspects to assess how much we can lend you such as well-being that is your company and the level of the repayments your company is able to afford. The amount you receive from your loan will be contingent on the particulars for your company.
When you make an application for the business loan, we’ll assess the risk profile for your business and provide you with a customised offer including the amount of loan, the term and the interest rates. A business loan is an upfront priced loan therefore you will be aware of the total amount to be paid, including any charges or interest.
The interest rates on business loans rates differ based on various factors including the amount of money borrowed, the business assets the funds are used to purchase, the industry the business is in, how long the business has been operating and how long the company has sufficient cash flow to cover the loan, as well as the overall well-being or creditworthiness of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely what you need 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 punctually).
We do not charge an application fee. You can apply for a loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the total amount of your loan at any point in time.
If you are deciding to take this route, please call our helpful business loans experts. The specialists will offer you with the details of your repayment along with an early payout estimate. This is calculated as the total of the principal amount remaining and accrued interest to the time of the early payout in addition to 1.5 percent of the principal remaining plus any outstanding fees.
To make sure that you don’t miss repayments and to fit in your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your designated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and safeguard your data, is of paramount importance and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We use an advanced bank verification system link to immediately verify your bank account information online. This allows us to offer quick responses.
An asset-based loan is when an business owner makes use of the assets they have to get the loan. The asset could be a personal asset like the family home or an business asset such as a vehicle or other piece of machinery.
The majority of banks, even the major banks, prefer to secure loans against an asset. If you’re having trouble paying back the loan, then your asset may be taken over by the lender. In essence, it’s a way of securing additional financing using the worth of the asset you already have.
For loans of up to $150K, the requirement for asset security is not required in advance to gain access to the funds, however we require a personal guarantee. need a personal guarantee. As long as you follow your loan commitments (as detailed in your loan contract document) the security of assets is not required. If you take out loans in excess of $150,000 generally, there is personal guarantee and security in the form the charge of assets.
