The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Looking for more funding? Take a look at the eligibility requirements for our $100K-$500K business loan.
All that is needed for starting is your contact details (company name, your name, email and telephone) and the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we will require confirmation of who you are but not to get started:
Additionally after we get started in the process, for loans over $150,000 you will also require basic financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply to the Small Business Loan in under 10 minutes via the internet or over the phone, receive an answer within the same day and the money could be on your account within 24 hours. Traditional business loans have an annual interest rate plus other fees and charges. The business loan is a pre-paid loan and you’ll know in advance the amount you will have to pay, including the interest, fees and charges. Then, it is divided into a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost every business purpose including managing cash flows, company improvements, advertising for purchasing inventory or new equipment, or as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan in this amount the business needs to be operating for a minimum of 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Larger Business Loan can be used for nearly every business purpose including business improvements, purchasing new equipment or inventory or as general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. It is usually by taking a charge against assets, which could also include registering this on the PPSR or filing as a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is generally based rather than stating security over an asset. The person who signs the ensure is personally responsible if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including goods or assets). The PPSR allows the priority of personal property granted depending on the date that a security interest that is registered.
A caveat is a legal document filed to offer the public notice of a legal claim to property.
If you’re applying for a Larger Business Loan that exceeds $250K we may be able to provide an initial pre-approval in order to make the process. We could be able to get this done without a credit check, and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes you answering some financial health checks. This is in no way an offer, nor is it a guarantee of credit. A conditional approval is subject an assessment of your creditworthiness and any offer that you receive could be on different conditions.
You can apply for an company loan if you;
The application process is quick and easy. Just complete the online application in just a few minutes, and a dedicated business credit specialist will contact you to guide you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License) and a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent and 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, plus interim financials for 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 offer a response in one hour, provided you submit your request within quality company time and let us utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statements , we are able to provide an answer in as little as 1 business day.
If you are applying for a Larger Business Loan ($100K or more) we may be capable of provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain transactions have received approval in just 24 hours.
The quickest way to apply would be to make sure you apply during standard company hours, and allow us to use the advanced bank verification system to verify your bank information online. If you decide to send us copies of your bank accounts, it can take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer within an hour if you submit your request in standard business times and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statement, we’ll offer a decision within an business day.
For the Larger Business Loans ($100K up to $500,000) we might be able to provide you with pre-approval conditional to your application within 6 hours. Once you have signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval. However, it could be faster based on the specifics of each application. Certain agreements have been approved within 24 hours.
The most effective method would be to ensure you apply during standard business hours, and let us use the advanced bank verification system link to instantly verify your bank account information online. If you choose to send us documents from your account statements it will take a little longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a specific amount we look at a variety of factors for determining your health of the company and the level of repayments your company will be able to support. The total amount of your loan will depend on the particular circumstances of your company.
When you submit an application for a set amount, we look at a range of variables to assess the well-being of your business as well as the amount of repayments that your business can afford. The total amount of your loan will be determined by the specific circumstances for your company.
When you make an application for the business loans, we’ll assess the risk profile the business and offer you with a tailored offer that includes the loan amount, the terms and the interest rates. It is a company loan is an upfront-priced loan so you will be aware in advance of the total amount you will have to pay, including interest rates, fees or charges.
Business loan interest rates depend on a variety of factors such as the amount that is borrowed, the business assets the funds will be used for and the sector the business is in, how long the business has been operating as well as whether the company has sufficient cash flow to fund the loan, and the general health and creditworthiness of the business.
There are no hidden costs with our business loans, and you’ll know exactly how much it is that you need to pay and when, from the day you sign up. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments on time).
We do not charge an Application Fee. You are able to apply for a loan with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the loan amount.
You can decide to repay the entire amount of your loan early at any time.
If you decide to do this please speak to our friendly company loan experts. They will offer you with details on repayment and an early payment figure. The figure will be calculated as the sum of the principal balance plus any accrued interest as of the date of early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align with your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from the nominated business account.
Security of your data, and being clear about the ways we gather the information we collect, use, share and protect your information, is of huge importance and is a crucial aspect of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system to instantly verify your bank account information online so we can offer an immediate response.
An asset-based loan is when an company owner makes use of an asset they own to obtain the loan. The asset may be an asset belonging to the personal, like the family home or an business asset such as a vehicle or piece or equipment.
The vast majority of lenders, including the banks with the biggest size, prefer to guarantee loans against assets. If you’re having trouble paying back the loan, then the asset could be transferred to the lender. In essence, it is means of securing new financing by making use of the value of what you already have.
For loans of up to $150K, there is no requirement for asset security prior to the loan’s access However, we require a personal guarantee. need an individual guarantee. As long as you follow the terms of your loan (as specified in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150,000 generally, there is an individual guarantee and security is provided in the form of a charge over assets.
