The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Do you need more money? Find out the eligibility requirements for our $100K to $500K company loan.
All you need for starting is your contact details (company name, your name, email or phone number) as well as the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are but not before we can begin:
Additionally after we get started when it comes to loans over $150,000 you will also need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to get the Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and the money could be on your account within 24 hours. Traditional business loans reference an interest rate per annum together with additional fees and charges. We offer a company loan is a pre-paid loan so you will be aware in advance of the total amount payable including the interest, fees and charges. Then, it is broken down into either a daily or weekly installment amount.
A Small Business Loan can be used for almost every business need, such as control of cash flow company remodeling, marketing for purchasing inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range between $100,000 and $500,000 with a term fixed 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, which is calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount, your company needs to be in operation for at least 3 years with an annual turnover of at least $700K. It is necessary to 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 demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used to fund almost every business use, including business improvements, purchasing inventory or new equipment for general working capital, and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. It’s by way of charge against assets, and may include registration in the PPSR or registering as a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature, rather than stipulating security over a particular asset. The person who signs the ensure is personally liable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including items or assets). The PPSR gives prioritisation over property that is personal to be assigned depending on the date that a security interest has been registered.
A caveat is a legal document lodged to offer the legal claim to a property.
When you’re applying for the Larger Business Loan that exceeds $250K we can offer an initial pre-approval that will help smooth out the process. We could be able to apply for this without a credit verification and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health questions. It is in no way an offer, nor is it a guarantee of financing. Unconditional approval is subject to a full credit assessment and any offer that you may receive may have different terms.
You may apply for a company loan if you;
The application process is fast and easy. Just complete the online application within a couple minutes, and a dedicated business lending specialist will be in touch to guide you.
For a loan of up to $100,000, you’ll need proof of identity (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Information about the application 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, 12 months bank statement, an IRD statement, last 2 years finalised financial statements, as well as interim current financial year financials, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K to $100K) We can usually provide an answer within an hour – as long as you make your application in quality company time and let us utilise the bank verification system link to instantly verify your bank details online. If you choose to upload copies of your bank statements we can offer the decision in just one company day.
For the Larger Business Loan ($100K or more) we may be in a position to provide you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Some agreements have been approved in the space of 24 hours.
The most effective method for you to apply is make sure you apply during standard business hours. You can also let us use the advanced bank verification system to instantly verify your bank account information online. If you choose to send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within one hour, provided you make your application at standard business time and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statement, we’ll provide the decision within the span of one 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 within six hours. Once you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some agreements have been approved within 24 hours.
The fastest way would be to ensure you apply during normal business hours, and let us use the advance bank verification to verify your bank account information online. If you upload the copies of bank statements it can take a bit longer.
We provide loans that range from $5,000 and $500,000. If you apply for a certain amount we will consider a number of factors to determine your health for your business and the amount of the repayments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances for your business.
When you make an application for a specific amount we consider a variety of elements to assess the health of the business and the extent of payments your company can support. The total amount of your loan will be contingent on the particulars the company.
If you decide to make an application for our business financing, we’ll assess the risk assessment that you have for your business and provide you with a customised proposal that includes loan amount, term and interest rates. A business loan is an upfront priced loan therefore you will be aware of the total amount payable including any charges, interest rates or fees.
Interest rates for company loans rates depend on a variety of factors including the amount that is borrowed, what business assets the money will be used for and the sector the business is operating in, how long the company is in operation and what percentage of the company has enough cash flow to pay for the loan, and the general well-being as well as creditworthiness business.
There aren’t any hidden costs with our company loans. You’ll know precisely what it is that you need to pay, and when, right from the very first day. There’s no compounding interest, and no extra fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You are able to request a credit loan no cost upfront or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. You are only charged this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the entire amount of your loan in full at any time.
If you do decide to do this please speak to our friendly company lending professionals. They’ll offer you with details on repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and accrued interest to the time of early payment in addition to 1.5 percent of the principal balance as well as any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from your designated business account.
Protecting your information, and being upfront about the ways we gather, use, exchange and secure your information, is of huge importance and is a crucial element of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and privacy. We make use of an advanced bank verification system to instantly confirm your bank account information online. This allows us to offer an immediate response.
An asset-based loan is when the business owner uses an asset that they own to secure the funds for a loan. The asset may be an asset belonging to the personal, like the family home or it could be a company asset such as a truck as well as a piece of machine.
The vast majority of lending institutions, even the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan then your asset may be transferred to the lender. In essence it’s the process 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 in advance to gain access to the funds, however we do need an individual guarantee. As long as you follow your loan commitments (as stipulated in your loan contract), asset security is not required. For loans over $150,000 generally there is personal guarantee and security in the form an asset charge.
