The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Find out the eligibility requirements for our $100K to $500K company loans.
All that is needed for starting is your contact details (company name, your name, email, phone) as well as the amount you want to borrow, and your monthly revenue.
During the process and before settlement we will need confirmation of who you are but not before we can begin:
Once we’ve started in the process, for loans over $150,000 you’ll need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
You can apply for this Small Business Loan in under 10 minutes on the internet or over the phone, receive an instant response and the funds could 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 so you will be aware of the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into either weekly or daily amount to be paid back.
The Small Business Loan can be used for almost any business need, such as control of cash flow company renovations, marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to have been operating for a minimum of 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A large business loan is a great option for almost any company purpose including company remodeling, buying equipment or inventory or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is required to access funding over $150,000. It’s by way of charge on assets, and may include registering this in the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature, rather than stating security over a particular asset. The person who is signing the ensure is personally accountable if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR allows the priority of personal property assigned according to the date the security interest that is registered.
Caveats are legal document lodged to provide notice of a legal claim to a property.
When you’re applying for an enterprise loan that exceeds $250K we may be able to provide a preliminary pre-approval to help simplify the process. We could be able to get this done without credit checks and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial health questions. This is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you might receive could be based on different conditions.
You are eligible to apply for a company loan if you
The process for applying is fast and easy. Just complete the online application within a couple minutes, and an experienced company lending specialist will contact you to assist you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License) and an active NZBN/IRD, and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often provide an answer within an hour, provided you apply in quality business times and let us use the advanced bank verification system to immediately verify your bank account information online. If you choose to submit copies of your bank statements we can provide a decision within just one company day.
If you are applying for a Larger Business Loan ($100K or more) we could be likely to offer you with conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, it could be faster based on the particular circumstances of each application. Some transactions have received approval within less than 24 hours.
The most efficient method is to ensure you apply during normal company hours and allow us to use our advanced bank verification system link to confirm your bank details online. If you opt to upload duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer within an hour if you apply during standard business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll provide the decision within the span of one business day.
For Larger Business Loans ($100K or more) we may be in a position to provide the conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval, however this can be faster depending upon the circumstances for each application. Some transactions have received approval within less than 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours. Also, let us use the sophisticated bank verification to verify your bank account information online. If you opt to send us copies of your bank accounts, it will take a little longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount we take into consideration a range of elements for determining your well-being for your business and the amount of the repayments your company will be able to support. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you apply for a set amount, we consider a variety of aspects to determine the well-being of the business and the extent of repayments your business can support. The amount you receive from your loan will depend on the particular circumstances of your business.
If you decide to apply for the business loan, we’ll assess the risk assessment for your company and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. A business loan is an upfront-priced loan which means you know the exact amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates depend on several variables like the amount to be borrowed, what company assets the money will be used for in addition to the industry that the business operates in, how long the company has been operating and whether the company has enough cash flow to support the loan, as well as the general health as well as creditworthiness company.
There aren’t any hidden charges with our business loans. You’ll know precisely how much you’ll be required to pay, and when, from the very first day. There’s no compounding and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You can apply for a loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the total amount of your loan in full at any time.
If you decide to pursue this option, please talk to one of our helpful business lending professionals. They will provide you with the details of your repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the time of the early payout plus 1.5% of the principal remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow cycle we offer repayments either daily or weekly. They will be automatically deducted from the nominated business account.
The security of your personal information, as well as being clear about how we collect data, process, exchange and secure your information, is crucial and is a crucial element of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We employ a highly sophisticated banking verification system to instantly confirm your bank account information online so we can provide an immediate response.
Asset-based borrowing occurs when a company owner uses an asset they own to obtain the funding. The asset could be an individual asset, such as the family home or an business asset such as a vehicle or piece or equipment.
The majority of lenders, even the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan, the asset might be taken over by the lender. In essence it is an opportunity to secure additional financing using the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets in advance to gain access to the funds however, we do need the personal guarantee. If you adhere to the terms of your loan (as detailed in the loan contract) the security of assets will never be required. For loans over $150K generally, there is a personal guarantee and security in the form a charge over assets.
