The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K-$500K company loans.
All that is needed to start is your contact details (company name and your name, as well as email, phone) along with the amount you’d like to borrow, and your monthly income.
Through the process and before settlement we will require confirmation of who you are, but not for starting:
Once we’ve started, for loans over $150,000 you’ll require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
The application for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an answer within the same day and funds may be on your account within 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. Our business loan is a cash-based loan therefore you’ll be aware in advance of the total amount payable including any fees, interest or charges. Then, it is broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for almost any business purpose including cash flow management, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your business needs to be operating for a minimum of 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Larger Business Loan can be used for nearly all company purpose including company remodeling, buying inventory or new equipment or as general working capital and much more. The loan is not available for personal purposes.
Asset security is necessary to obtain funding above $150,000. It’s in the form of a charge on assets, which could also be registered on the PPSR or registering as a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally in nature rather than defining security over a particular asset. The person who signs the guarantee is personally accountable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests 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 was registered.
A caveat is a legal document lodged to provide notice of a legal claim against a property.
When you’re applying for the Larger Business Loan of $250,000 or more it’s possible to offer an initial pre-approval that will help make the process. We could be able to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is based on an initial evaluation that involves the answer to a series of financial health checks. It is neither an offer nor a guarantee of finance. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you might receive could have different conditions.
You may be eligible for a business loan if you
The process for applying is fast and simple. Complete the online form within a few minutes and an experienced company credit specialist will contact you to help you.
To apply for up $100,000 you’ll require proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent twelve months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we usually provide an answer in just one hour, provided you submit your request during standard business time and you allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statement, we’ll provide an answer in just the span of one company day.
If you are applying for a Larger Business Loan ($100K and up) we may be able to offer the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this may be quicker depending on the specifics of each application. Certain agreements have been approved within the space of 24 hours.
The quickest method is to make sure you apply during normal company hours, and let us use the advance bank verification link to confirm your bank details online. If you opt to send us the copies of bank accounts, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide a response in one hour if you apply in normal business hours and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements we can offer the decision in just one business day.
For the Larger Business Loans ($100K up to $500,000) we may be likely to provide you with a conditional pre-approval in around 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based on the specifics of each application. Some transactions have received approval in just 24 hours.
The fastest way can be make sure you apply during standard business hours and let us use the advanced bank verification system link to check your bank’s information online. If you choose to send us copies of your bank accounts, it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of elements that determine your well-being for your business and the extent of repayments that your company is able to afford. The amount you receive from the loan will be determined by the particular circumstances for your business.
When you apply for a specific amount we take into consideration a variety of variables to determine your health of the company and the amount of payments your company is able to afford. The amount you receive from your loan will depend on the particulars the business.
If you decide to apply for our business loans, we’ll assess the risk assessment for your business and provide you with a customised proposal that includes the amount of loan, the term and the interest rates. This company loan is an upfront priced loan and you’ll know in advance the total amount payable including any charges, interest rates or fees.
Interest rates for business loans rates differ based on various factors including the amount borrowed, what company assets the funds will be used for, the industry the business operates in, how long the business is in operation and whether the business has sufficient cash flow to fund the loan, and also the overall well-being and creditworthiness of the company.
There aren’t any hidden charges for our company loans, and you’ll know exactly how much it is that you need to pay and when, from the first day. There’s no compounding and the loan comes with no additional fees (as long as you make your payments in time).
We do not charge an application fee. You can make an application for loans with no cost upfront or commitment to apply.
The Origination Fee covers the costs associated with the setting up and management of the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can choose to repay the entire amount of your loan early at any time.
If you choose to do this please speak to our friendly business lending professionals. The experts will offer you with repayment details and an early payment figure. This is calculated as the total of the principal balance and any accrued interest at the time of the early payout plus 1.5% of the remaining principal and any fees that remain unpaid.
In order to help you avoid missing payments and to work your cash flow cycle we provide repayments either daily or weekly. They will be automatically deducted from your designated company account.
Protecting your information, and making it clear how we collect the information we collect, use, share and secure your information, is crucial and an integral element of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system link to instantly confirm your bank account information online. This allows us to offer rapid response.
An asset-based loan is when a company owner borrows from an asset that they own to make the funds for a loan. The asset could be a personal asset like the family home, or it could be a company property like a truck or piece or equipment.
The majority of the lenders including the major banks, prefer to make loans secured by an asset. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence it is the process of securing new financing by using the worth of the asset you already have.
For loans that exceed $150K, it is not necessary to secure assets prior to the loan’s access However, we require a personal guarantee. require an individual guarantee. If you adhere to the loan terms (as stated in your loan contract document) Asset security is not needed. For loans over $150K generally, you are able to get the option of a personal guarantee and security is provided in the form of a charge over assets.
