The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K company loans.
All that is needed to begin is your contact information (the name of your company and your name, as well as email, phone) as well as the amount you’d like to borrow as well as your monthly income.
Through the process and before settlement we will require confirmation of your identity, but not before we can begin:
After we start, for loans greater than $150,000 you’ll need the following financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes over the phone, receive an instant response and the funds could be available in just 24 hours. Traditional company loans have an interest rate per annum together with additional fees and charges. This company loan is a pre-paid loan so you will know in advance the total amount payable including any fees, interest or charges. This is then broken down into either weekly or daily repayment figure.
It is a Small Business Loan can be used for nearly every business need, such as managing cash flows, business renovations, marketing, to purchase inventory or new equipment, for general working capital and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To be eligible for a credit in this amount, your business needs to be operating for at least three years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large company loan can be used for nearly every company purpose including company remodeling, buying new equipment or inventory for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. It’s by taking a charge against assets, which could also include the registration of this through the PPSR or filing as a caveat.
A director’s or personal ensure is a promise to repay credit that is generally based rather than defining security over an asset. The person signing the guarantee is personally responsible if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR allows preference over private property assigned in accordance with the date on which a security interest was registered.
An affidavit is an official document that is filed to provide the public notice of a legal claim to property.
If you’re requesting a Larger Business Loan that is greater than $250,000, we may offer a preliminary pre-approval to help smooth out the process. We might be able to do this without a credit check, and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves you answering a few financial health questions. This is not an offer or guarantee of credit. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you might receive could be subject to different conditions.
You can apply for an company loan if you
The application process is fast and simple. Complete the online form in just a few minutes, and a dedicated company credit specialist will call you to assist you.
To be eligible for up to $100,000, you’ll need identification details (valid Driver’s Licence) and a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour, provided you submit your request during standard company hours and you allow us to use 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 offer a decision in just the span of one business day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to offer the conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some offers have been approved within the space of 24 hours.
The fastest way for you to apply is ensure you apply during normal company hours. Also, permit us to use the advance bank verification to verify your bank information online. If you upload the copies of bank statements it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour if you submit your request within normal business times and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements, we are able to provide a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be in a position to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Certain deals have been approved in 24 hours.
The fastest method would be to make sure you apply during normal business hours and let us use the sophisticated bank verification link to confirm your bank details online. If you upload duplicates of your banking statements it will take a little longer.
We offer loan amounts between $5,000 and $500,000. When you submit an application for a specific amount we consider a variety of variables in order to assess your well-being for your business as well as the amount of repayments your business is able to afford. The amount you receive from your loan will depend on the specific circumstances of your business.
If you apply for a set amount, we look at a range of variables to determine the health of your business and the extent of repayments your company can support. The total amount of the loan will be determined by the specific circumstances that are unique to your company.
If you decide to request the business credit, we’ll assess the risk profile the business and offer an individualised offer including loan amount, term and interest rates. This business loan is an upfront-priced loan therefore you will be aware of the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for company loans rates depend on several factors like the amount of money of money borrowed, the company assets the funds are used to purchase, the industry the company operates in, how long the company has been operating and whether the company has enough cash flow to pay for the loan, and general well-being and creditworthiness of the business.
There aren’t any hidden charges with our business loans, and you’ll know precisely how much you need to pay and when, starting from the first day. There’s not any compounding interest and there are no additional charges (as long as you make your payments punctually).
We don’t charge an application fee. You can get a cash loan without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs associated with establishing and managing the loan. The only way to pay this fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You may choose to pay back the entire amount of your loan early at any time.
If you decide to pursue this option, please contact our helpful company loan professionals. We will offer you with repayment details and an early payout figure. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the time of early payment and 1.5% of the principal balance and any fees that remain unpaid.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we provide payments that are either daily or weekly. They are automatically deducted from your business account.
Protecting your information, and being clear about the ways we gather the information we collect, use, share and ensure the security of your information is vital and is an essential part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to customer security and privacy. We use an advanced bank verification system that allows you to immediately confirm your bank account information online to offer an immediate response.
Asset-based borrowing is when an business owner borrows from an asset they own to secure a loan. The asset can be an asset belonging to the personal, like the family home, or an company asset such as a vehicle or piece of equipment.
The majority of lenders, even the banks with the biggest size, prefer to make loans secured by an asset. If you are having difficulty paying back the loan then the asset could be transferred to the lender. In essence, it is an opportunity to secure new financing by using the worth of the asset you already own.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money However, we do require a personal guarantee. As long as you follow the loan terms (as detailed in the loan contract) Asset security will never be needed. For loans over $150,000 typically, you will need personal ensure and security in the form of an asset charge.
