The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Do you need more money? Check out the guidelines for eligibility for our $100K-$500K business financing.
All that’s required to begin is your contact details (the name of your company, your name, email and telephone) along with the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we will require confirmation of who you are but not before we can begin:
Once we’ve started with 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 daily or weekly.
You can apply to this Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive a same day response and the money could be in your account within 24 hours. Traditional business loans have an annual interest rate as well as other fees and charges. We offer a business loan is a pre-paid loan and you’ll know ahead of time the total amount due, which includes any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for nearly every business reason, such as cash flow management, business renovations, marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly in order to accommodate your situation.
This 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 in this amount, your company needs to be in operation for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used to fund almost every business use, including company improvements, purchasing equipment or inventory as well as for general working capital, and much more. The loan is not available for personal use.
Asset security is needed to access funding over $150,000. This is by way of charge against assets, and may include registering this with the PPSR or the registration of a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature rather than specifying the security of a specific asset. The person who signs the guarantee is personally accountable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR allows the priority of personal property granted according to the date a security interest has been registered.
The caveat can be described as a formal document lodged to offer the legal claim to a property.
If you’re applying for the Larger Business Loan that exceeds $250,000, we may offer an initial pre-approval that will help simplify 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 made based on an initial evaluation that involves the answer to a series of financial well-being checks. It’s not an offer of credit or guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer you might receive could be subject to different conditions.
You may be eligible for an company loan if you
The application process is simple and easy. Complete the online form within a couple minutes, and a dedicated company lending specialist will be in touch to guide you through the process.
To apply for up to $100,000, you’ll need identification details (valid Driver’s Licence) as well as a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we typically provide an answer in just one hour – as long as you submit your request during standard company time and allow us to use the advanced bank verification system to instantly verify your bank information online. If you decide to submit copies of your bank statement, we’ll offer an answer within just 1 company day.
For the Larger Business Loan ($100K or more) we may be able to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based on the circumstances of each application. Some transactions have received approval within 24 hours.
The fastest way can be ensure you apply during normal business hours and permit us to use the advanced bank verification system link to check your bank’s information online. If you send us the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within one hour, provided you submit your request during normal business time and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you want to send us copies of your bank statements, we will be able to offer a decision within one business day.
For the Larger Business Loans ($100K to $500K) we may be likely to offer you with pre-approval conditional to your application within about 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this can be faster depending on the specifics of each application. Some deals have been approved in less than 24 hours.
The fastest method would be to ensure you apply during standard business hours. You can also allow us to use the modern bank verification to instantly verify your bank account information online. If you choose to upload documents from your account accounts, it may take a bit longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a specific amount we look at a variety of variables that determine how much we can lend you health of your business and the extent of the repayments your business is able to afford. The amount you receive from your loan will depend on the specific circumstances the company.
When you submit an application for a set amount, we consider a variety of elements to assess the health of your business and the level of repayments your business will be able to support. The total amount of your loan will depend on the particulars that are unique to your company.
When you apply for one of our business loans, we will assess the risk profile of your company and offer you with a customised offer, including the loan amount, the terms and interest rates. The company loan is a loan that is priced upfront therefore you will know the exact amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates differ based on various factors including the amount of money borrowed, the business assets the funds will be used for and the sector the company is operating in, how long the company has been in operation for, how long the company has sufficient cash flow to pay for the loan, as well as the overall health as well as creditworthiness business.
There are no hidden costs with our business loans, and you’ll know precisely what you’ll be required to pay, and when, right from day one. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments punctually).
We don’t charge an application fee. You are able to get a cash loan without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can choose to repay the total amount of your advance loan at any time.
If you do decide to do this please talk to one of our helpful business lending experts. We will offer you with details on repayment and an early payout figure. This will be calculated as the sum of the principal remaining and accrued interest to the date of early payout plus 1.5% of the principal amount remaining plus any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow general, we provide repayments either weekly or daily. They are automatically deducted from the nominated business account.
Protecting your information, and being transparent about the ways we gather the information we collect, use, share and secure your information, is vital and is a crucial aspect of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to customer security and security. We employ an exceptionally sophisticated bank verification system to instantly verify your bank account information online so we can provide an immediate response.
The term "asset-based" refers to borrowing where the business owner makes use of assets they own to obtain a loan. The asset can be an individual asset, such as the family home or a company asset such as a vehicle or piece or equipment.
The vast majority of banks, not just the largest banks, are inclined to make loans secured by assets. If you’re having trouble paying back the loan, your assets could be offered for sale by 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, it is not necessary to secure assets in advance to gain access to the funds but we do require an individual guarantee. So long as you comply with the loan terms (as detailed in your loan contract) the security of assets is not required. For loans that exceed $150K, typically, you will need a personal ensure and security in the form the charge of assets.
