The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the conditions of eligibility for our $100K to $500K business credit.
All that’s required for starting is your contact details (company name, your name, email or phone number), how much you’d like to borrow, and your monthly income.
During the process and before settlement we’ll need confirmation of your identity however, not in order to begin:
Once we’ve started when it comes to loans over $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 with terms between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
Apply to get the Small Business Loan in under 10 minutes over the phone. You’ll get an immediate response, and funds may be in your account within 24 hours. Traditional company loans refer to an annual interest rate along with other charges and fees. The business loan is an upfront priced loan which means you know ahead of time the total amount to be paid, including any interest, fees or charges. This is then broken down into either weekly or daily payment amount.
A Small Business Loan can be used for virtually any business use, including the management of cash flow, company remodels and marketing to purchase inventory, 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 company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed that can last up to 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the loan amount.
In order to be eligible for a loan that is this large, your business needs to have been in operation for at least 3 years and have an annual turnover of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger company loan can be used to fund almost any business need, including company remodeling, buying inventory or new equipment for general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is necessary to access funding over $150,000. It’s by taking a charge on assets, and may include registering this with the PPSR or registering a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature, rather than defining security over an asset. The person who signs the ensure is personally responsible if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR gives the priority of personal property assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official document that is filed to provide an official notice of a claim to property.
If you’re requesting larger business loans of $250,000 or more we may be able to provide an initial pre-approval to make the process. We might be able to apply for this without a credit verification and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health questions. This is neither an offer nor a guarantee of funds. A conditional approval is subject a full credit assessment and any offer that you are offered could be on different terms.
You are eligible to apply for a business loan if you:
The application process is quick and easy. Just fill out the online application within a couple minutes, and an experienced business expert in lending will contact you to guide you through the process.
For a loan of up to $100,000, you’ll require identification details (valid Driver’s License) as well as a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we can often offer an answer within an hour – as long as you submit your request within standard business time and allow us to utilise the bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statements , we are able to provide a decision within an business day.
If you are applying for a Larger Business Loan ($100K or more) we could be in a position to provide you with pre-approval conditional to your application within 6 hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain deals have been approved in just 24 hours.
The fastest way is to ensure you apply during standard company hours, and let us use the advance bank verification link to confirm your bank details online. If you choose to send us the copies of bank statements it takes a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within one hour – provided you make your application during standard business hours and let us use the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your banking statements, we are able to offer the decision within the span of one business day.
For the Larger Business Loans ($100K to $500K) We may be likely to provide you with pre-approval conditional to your application 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 can be faster depending on the specifics of each application. Certain transactions have received approval within just 24 hours.
The quickest method would be to ensure you apply during normal business hours. Also, let us use the advanced bank verification system to instantly confirm your bank details online. If you send us copies of your bank statements it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you submit an application for a particular amount, we look at a variety of elements to determine the well-being of your company and the amount of repayments that your company can support. The amount you receive from your loan will be contingent on the particular circumstances the company.
When you make an application for a particular amount, we will consider a number of variables to determine your well-being of your business and the extent of payments your business can support. The amount you receive from your loan will depend on the specific circumstances of your company.
When you make an application for one of our business loan, we will assess the risk assessment that you have for your company and offer you with a customised offer that includes the amount of the loan, the duration and interest rates. This business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any charges, interest rates or fees.
The interest rates on business loans rates depend on a variety of factors such as the amount that is that is borrowed, what business assets the funds are used to purchase and the sector the business operates in, how long the business is in operation and how long the company has enough cash flow to cover the loan, and overall health and creditworthiness of the business.
There aren’t any hidden charges for our business loans, and you’ll be aware of the amount you need to pay and when, right from the very first day. There’s no compounding and there are no additional charges (as long as you make your payments on time).
We do not charge an Application Fee. You can make an application for loans without any upfront costs or the obligation to take action.
The Origination Fee is the cost associated with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can decide to repay the entire amount of your loan in full at any time.
If you choose to do this please speak to our friendly company credit experts. We will offer you with repayment details and an early payout figure. The figure will be calculated as the total of the principal balance and the accrued interest up to the date of early payout in addition to 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from the nominated business account.
Security of your data, and being transparent about how we collect information, use it, and exchange it, as well as secure your information, is of paramount importance and an integral part of our relationship you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We use an advanced bank verification system to immediately verify your bank account information online, allowing us to provide quick responses.
Asset-based borrowing is when a business owner makes use of assets they own to make the funding. The asset could be an individual asset, such as the family home or an business asset like a truck or piece of equipment.
The majority of lenders, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then the asset could be transferred to the lender. In essence, it is an opportunity to secure additional financing using the worth of the asset you already have.
For loans up to $150K it is not necessary to secure assets prior to the loan’s access, however we do need the personal guarantee. If you adhere to the loan terms (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150K generally there is an individual guarantee and security that is in the form a charge over assets.
