The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Do you require more money? Take a look at the eligibility requirements for our $100K-$500K company financing.
All that’s needed to start is your contact details (the name of your company, your name, email and phone), how much you’d like to borrow and your monthly revenue.
While in the process and before settlement we’ll need confirmation of who you are but not to get started:
After we start with loans of more than $150,000 you will also require basic financial statements.
Let’s get started now.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
Apply for your Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the funds could be on your account within 24 hours. Traditional company loans are based on an interest rate per annum together with additional fees and charges. This company loan is a loan that is priced upfront so you will know in advance the total amount to be paid, including any fees, interest or charges. Then, it is broken down into either weekly or daily repayment figure.
It is a Small Business Loan can be used for virtually every business purpose including the management of cash flow, company improvements, advertising to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the amount of the loan.
To be eligible for a credit that is this large the company needs to be trading for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan can be used for almost all company need, including business improvements, purchasing new equipment or inventory for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. This can be done by taking a charge against assets, and may be registered on the PPSR or making a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally based rather than specifying the security of a specific asset. The person who is signing the guarantee is personally accountable if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including objects or assets). The PPSR permits the priority of personal property assigned according to the date the registration of a security interest.
A caveat is a legal form of document to offer an official notice of a claim on a property.
If you’re requesting a Larger Business Loan of more than $250K we may be able to provide an initial pre-approval to make the process. We could be able to apply for this without credit checks and within six hours of your initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial well-being checks. It’s not an offer of credit or guarantee of funds. A conditional approval is subject a full credit assessment and any offer you may receive may be on different terms.
You can apply for an company loan if you;
The application process is simple and easy. Simply complete the online form in few minutes and an experienced business credit specialist will be in touch to guide you through the process.
To be eligible for up to $100,000, you’ll need the right identification documents (valid Driver’s License) and an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Information on the application including credit consent twelve months of bank records, IRD statements, last 2 years finalised financial statements, and interim current financial year financials including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) we typically offer an answer within one hour – as long as you apply within standard company times and let us make use of the advanced bank verification system link to instantly verify your bank’s information online. If you opt to send us copies of your bank statements , we are able to offer an answer in just the span of one business day.
For Larger Business Loans ($100K and up) we might be likely to provide you with a conditional pre-approval in about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some transactions have received approval in 24 hours.
The quickest method is to ensure you apply during standard company hours. Also, allow us to use the advanced bank verification system to verify your bank information online. If you opt to send us duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer in just one hour, provided you apply at normal business times and let us use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statement, we’ll offer an answer in just one business day.
For Larger Business Loans ($100K or more) we might be in a position to provide the conditional pre-approval within about six hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this could be shorter based upon the circumstances for each application. Certain transactions have received approval within 24 hours.
The quickest method is to ensure you apply during normal business hours, and allow us to use our advanced bank verification system to instantly verify your bank information online. If you decide to send us duplicates of your banking statements it takes a bit longer.
We provide loan amounts between $5,000 to $500,000. When you submit an application for a certain amount, we look at a variety of variables for determining what is the well-being for your business as well as the amount of repayments your company can afford. The total amount of your loan will be contingent on the specific circumstances that are unique to your business.
When you make an application for a particular amount, we take into consideration a variety of factors to determine your well-being of your company and the extent of the repayments your company will be able to support. The amount you receive from your loan will depend on the specifics for your company.
When you apply for the business loans, we will assess the risk assessment the business and provide you with a tailored offer that includes loan amount, term and interest rates. A business loan is an upfront priced loan therefore you will know in advance the total amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates vary due to variables like the amount to be borrowed, the business assets the funds are used to purchase as well as the field the business is operating in, how long the business has been operating, what percentage of the business has sufficient cash flow to fund the loan, and general well-being or financial standing of the business.
There aren’t any hidden charges for our company loans, and you’ll be aware of the amount you need to pay and when, right from the first day. There’s no compounding interest, and no additional fees (as as long as you pay your payments punctually).
We don’t charge an Application Fee. You are able to get a cash loan with no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay the total amount of your loan early at any time.
If you decide to pursue this option, please speak to our friendly business credit specialists. We will provide you with the details of your repayment and an early payout figure. The figure will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payout plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow schedule, we provide payments that are either weekly or daily. These are automatically withdrawn from the nominated business account.
Making sure that your information is secure, and knowing the ways we gather information, use it, and exchange it, as well as protect your information, is vital and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We utilise a sophisticated bank verification system link to immediately verify the bank account details online, allowing us to offer rapid response.
The term "asset-based" refers to borrowing where a business owner uses an asset that they own to make the funds for a loan. The asset may be an asset belonging to the personal, like the family home, or it could be a business asset like a truck or piece of equipment.
The vast majority of lenders, not just the banks with the biggest size, prefer to make loans secured by an asset. If you have trouble paying back the loan, the asset could be taken over by the lender. In essence it is the process of securing new financing by making use of the value of what you already have.
For loans that exceed $150,000, no asset security is required before you are able to access the money, however we require a personal guarantee. need the personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract) Asset security is not required. If you take out loans in excess of $150,000 generally, there is personal ensure and security in the form a charge over assets.
