The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Find out the guidelines for eligibility for our $100K to $500K business loan.
All that’s needed to start is your contact information (company name and your name, as well as email, phone) and the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we will need confirmation of your identity but not for starting:
After we start, for loans that exceed $150,000, you’ll also require fundamental financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes over the phone. You’ll get an immediate response, and have the funds in your account in 24 hours. Traditional company loans refer to an interest rate per annum together with additional fees and charges. We offer a company loan is a pre-paid loan so you will be aware of the total amount due, which includes any fees, interest or charges. This is then divided into a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost every company need, such as cash flow management, business remodeling, marketing to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee, determined at 2.5 percent of the loan amount.
In order to be eligible for a loan of this size the company needs to have been in operation for at least 3 years and have an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Larger Business Loan can be used to fund almost all business need, including company remodeling, buying equipment or inventory, as general working capital and much more. The loan is not available for personal reasons.
Asset security is necessary for accessing funds over $150,000. It is usually by taking a charge on assets, which could also include the registration of this through the PPSR or the registration of as a caveat.
A personal or director’s ensure is a promise to repay a loan which is general in nature, rather than specifying security over an asset. The person signing the guarantee is personally responsible if the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been that are registered for personal property (including items or assets). The PPSR gives priority over personal property to be assigned depending on the date that a security interest has been registered.
An affidavit is an official document that is filed to provide an official notice of a claim to a property.
When you’re applying for larger business loans of more than $250K we may be able to provide an initial pre-approval that will help smooth out the process. It is possible to do this without a credit check and within six hours of your initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial health checks. This is in no way an offer, nor is it a guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer that you receive could be subject to different terms.
You are eligible to apply for a company loan if you
The application process is simple and easy. Simply complete the online form within a couple minutes, and an experienced company credit specialist will be in touch to help you.
To apply for up $100,000 you’ll need identification details (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent twelve month bank accounts, the IRD statement Last 2 years’ finalised financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K or more) we typically provide a response in one hour – as long as you make your application in quality company time and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you opt to submit copies of your bank statements , we’ll be able to offer the decision within just the span of one business day.
For the Larger Business Loan ($100K and up) we may be capable of offer you with conditional pre-approval within about six hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however it could be faster based upon the circumstances for each application. Certain offers have been approved in 24 hours.
The quickest way to apply is to ensure you apply during normal business hours and allow us to use the advance bank verification link to verify your bank information online. If you opt to send us copies of your bank statements , it can take a bit longer.
For the Small Business Loan ($5K and up) we typically provide a response in one hour, provided you apply within normal business times and allow us to use the bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statements, we will be able to offer a decision in just one business day.
If you are applying for Larger Business Loans ($100K and up) we could be able to offer the conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the particular circumstances of each application. Some offers have been approved in less than 24 hours.
The fastest way can be ensure you apply during standard business hours. You can also allow us to use the modern bank verification to check your bank’s information online. If you choose to send us copies of your bank statement, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a certain amount, we will consider a number of aspects in order to assess the well-being for your company as well as the amount of repayments that your company is able to afford. The amount you receive from your loan will be contingent on the specific circumstances the business.
When you apply for a specific amount we will consider a number of variables to assess your health of the business as well as the amount of repayments that your company can support. The total amount of the loan will be determined by the specific circumstances of your company.
If you decide to make an application for one of our company loans, we’ll assess the risk profile the business and provide you with a tailored offer, including loan amount, term and interest rates. It is a business loan is a loan that is priced upfront which means you be aware of the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates vary due to factors like the amount of money borrowed, the business assets the funds are used to purchase as well as the field the business operates in, how long the company has been running as well as in the event that the company has enough cash flow to fund the loan, and also the general well-being or creditworthiness of the business.
There are no hidden costs with our business loans, and you’ll be aware of the amount it is that you need to pay and when, from the very first day. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You are able to make an application for loans with with no upfront cost or commitment to apply.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can choose to repay the total amount of your advance loan at any time.
If you decide to do this please speak to our friendly company lending experts. They’ll provide you with the details of your repayment along with an early payout estimate. It will be calculated using the total of the principal balance and the accrued interest up to the date of early payout and 1.5% of the principal amount remaining and any outstanding fees.
To ensure you do not miss payments and to work with your cash flow standard, we provide payments that are either weekly or daily. They are automatically deducted from your company account.
The security of your personal information, as well as knowing the ways we gather data, process, exchange and protect your information, is vital and a vital aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their security. We employ an exceptionally sophisticated bank verification system to immediately confirm your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where the business owner borrows from assets they own to secure the funding. The asset may be an asset belonging to the personal, like the family home, or it could be a company asset such as a vehicle or piece of equipment.
The majority of the lenders even the major banks, prefer to secure loans against assets. If you’re struggling to pay back the loan, then your asset may be offered for sale by the lender. In essence, it’s the process of securing new financing by taking advantage of the value of what you already own.
For loans that exceed $150K, no asset security is required upfront to access the money, however we do need the personal guarantee. As long as you follow your loan obligations (as specified in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150K, typically, you will need an individual ensure and security in the form a charge over assets.
