The criteria for eligibility for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Do you need more money? Find out the guidelines for eligibility for our $100K-$500K company loans.
All you need to begin is your contact details (the name of your company, your name, email, phone) along with the amount you’d like to lend, as well as your monthly income.
While in the process and before settlement we will require confirmation of your identity but not before we can begin:
In addition, once we have started, for loans greater than $150,000 you will 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 month and cash flow friendly repayments, which are either daily or weekly.
The application to this Small Business Loan in under 10 minutes online or on the phone. You’ll receive an answer within the same day and funds may be in your account in 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. This company loan is an upfront priced loan which means you know ahead of time the total amount payable including the interest, fees and charges. Then, it is broken down into either weekly or daily installment amount.
It is a Small Business Loan can be used for nearly any company purpose including control of cash flow business remodels and marketing to purchase inventory, new equipment, to fund general working capital and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.
To be eligible for a credit in this amount, your business needs to have been operating for at least three years with an annual turnover of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have 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 for nearly every business purpose including business renovations, to purchase inventory or new equipment as well as for 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 as a result of an charge over assets, and may include the registration of this through the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature rather than stating the security of a specific asset. The person signing the ensure is personally liable in the event that the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including items or assets). The PPSR grants preference over private property granted according to the date the security interest has been registered.
The caveat can be described as a formal document filed to provide the public notice of a legal claim against a property.
If you’re requesting a Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval that will help smooth out the process. We may be able to apply for this without a credit check and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial well-being questions. It is in no way an offer, nor is it a guarantee of credit. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you receive could have different terms.
You are eligible to apply for a company loan if you:
The application process is quick and simple. Just complete the online application within a couple minutes, and a dedicated company loan specialist will call you to guide you.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s License), an NZBN/IRD that is valid and at least six months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent and 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K or more) we usually offer a response in one hour, provided you submit your request in standard company timings and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statements , we are able to offer an answer within an company day.
For the Larger Business Loan ($100K to $500K) we may be in a position to provide you with conditional pre-approval in around six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based upon the circumstances for each application. Some deals have been approved in 24 hours.
The quickest method for you to apply is ensure you apply during standard company hours and permit us to use the advance bank verification link to verify your bank information online. If you choose to send us duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within one hour – provided you submit your request during standard business timings and permit us to use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements, we are able to offer a decision within an business day.
If you are applying for Larger Business Loans ($100K and up) we could be capable of provide you with a conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The quickest method can be make sure you apply during standard business hours and allow us to use our advance bank verification to confirm your bank details online. If you choose to send us documents from your account statements it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a certain amount we will consider a number of variables that determine the health for your business and the level of repayments that your company is able to afford. The amount you receive from your loan will depend on the particular circumstances the business.
When you apply for a particular amount, we look at a range of variables to determine how much we can lend you such as well-being that is your company and the level of repayments your business will be able to support. The total amount of your loan will depend on the specifics the company.
When you apply for one of our business credit, we’ll assess the risk assessment the company and offer you with a tailored offer that includes the loan amount, the terms and the interest rates. A business loan is an upfront priced loan and you’ll be aware of the total amount payable including any charges, interest rates or fees.
Interest rates for company loans rates differ based on various factors like the amount of money that is borrowed, what business assets the funds will be used for in addition to the industry that the business operates in, the long the business has been operating as well as what percentage of the business has enough cash flow to support the loan, as well as the general health as well as creditworthiness business.
There aren’t any hidden costs for our company loans. You’ll know exactly how much it is that you need to pay, and when, starting from day one. There’s no compounding interest, and there are no additional charges (as long as you make your payments on time).
We don’t charge an Application Fee. You can make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can choose to repay all of your loan in full at any time.
If you do decide to take this route, please speak to our friendly business loans experts. They will offer you with repayment details as well as an early payout amount. This is calculated as the total of the remaining principal amount and accrued interest to the time of the early payout and 1.5% of the remaining principal plus any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow schedule, we provide repayments either daily or weekly. They will be automatically deducted from your designated business account.
Protecting your information, and being upfront about how we collect data, process, exchange and safeguard your data, 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 protecting the security of customers and security. We utilise a sophisticated bank verification system that allows you to instantly confirm your bank account information online. This allows us to offer rapid response.
An asset-based loan is when the business owner makes use of the assets they have to get a loan. The asset could be an individual property, such as the family home, or it could be a company property like a truck as well as a piece of machine.
The vast majority of the lenders even the big banks, tend to guarantee loans against assets. If you are having difficulty paying back the loan, your asset may be sold by the lender. In essence, it’s means of securing new financing by using the value of what you already have.
Up to $150,000 in loans the requirement for asset security is not required upfront to access the money but we do require an individual guarantee. If you adhere to your loan obligations (as specified in your loan contract document) Asset security is not needed. For loans that exceed $150K, generally there is a personal guarantee and security in the form the charge of assets.
