The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K-$500K company loan.
All that is needed to start is your contact information (company name and your name, as well as email or phone number), how much you’d like to lend, and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are but not for starting:
Additionally after we get started when it comes to loans greater than $150,000 you will also need the following financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
You can apply for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and the money could be available in just 24 hours. Traditional business loans refer to an interest rate per annum along with other charges and fees. The business loan is an upfront priced loan and you’ll know in advance the total amount due, which includes the interest, fees and charges. This is then divided into weekly or daily payment amount.
A Small Business Loan can be used for virtually any business purpose including managing cash flows, company improvements, advertising to purchase inventory or new equipment, or as general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
A Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
In order to be eligible for a loan that is this large the business needs to have been in operation for at least 3 years and generate an annual revenue of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used to fund almost all business need, including company improvements, purchasing equipment or inventory for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is required to access funding over $150,000. This can be done by taking a charge on assets, and may be registered through the PPSR or registering as a caveat.
A personal or director’s ensure is a promise to pay back a loan that is generally based rather than defining security over an asset. The person signing the ensure is personally responsible if the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including the assets or goods). The PPSR grants prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
A caveat is a legal document lodged to offer notice of a legal claim to a property.
When you’re applying for the Larger Business Loan of $250K or more it’s possible to offer an initial pre-approval that will help make the process. We may be able to do this without a credit verification and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes you answering a few financial well-being questions. It is in no way an offer, nor is it a guarantee of financing. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you are offered could be subject to different conditions.
You can apply for an business loan if you;
The process for applying is fast and easy. Complete the online form in few minutes and a dedicated business loan specialist will call you to assist you.
For a loan of up to $100,000, you’ll need proof of identity (valid Driver’s License) as well as a valid NZBN/IRD as well as at least six months of bank statements.
For larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent as well as 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we usually offer a response in one hour – as long as you submit your request at quality company time and you allow us to utilise the bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your bank statement, we’ll offer a decision within the span of one company day.
For the Larger Business Loan ($100K and up) we might be in a position to offer you with conditional pre-approval in around 6 hours. Once you have signed the pre-approval document, you will need to wait about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Certain deals have been approved within the space of 24 hours.
The quickest way to apply is to ensure you apply during normal company hours. Also, permit us to use the advanced bank verification system link to confirm your bank details online. If you decide to send us duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we usually provide an answer in just one hour if you apply in standard business hours and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to provide a decision in as little as an business day.
For the Larger Business Loans ($100K or more) We may be able to offer the conditional pre-approval within about six hours. Once you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours, and let us use the advance bank verification to instantly check your bank’s information online. If you opt to upload documents from your account statements it takes a bit longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a certain amount, we will consider a number of aspects for determining the well-being of your business and the extent of repayments that your company is able to afford. The total amount of your loan will depend on the specific circumstances of your business.
When you submit an application for a set amount, we look at a range of factors to determine your well-being that is your company and the extent of the repayments your business is able to afford. The amount you receive from the loan will be determined by the particulars of your company.
If you decide to make an application for the business credit, we will assess the risk profile of your business and provide you with a customised offer including the amount of loan, the term and the interest rates. This business loan is an upfront cost loan and you’ll know in advance the total amount to be paid, including any charges or interest.
The interest rates on company loans rates depend on a variety of factors like the amount of money borrowed, the business assets the funds are used to purchase and the sector the business operates in, how long the business has been running for, whether the business has enough cash flow to support the loan, and general health as well as creditworthiness business.
There aren’t any hidden costs for our business loans. You’ll know precisely how much you’ll need to pay, and when, starting from the very first day. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments on time).
We do not charge an application fee. You can get a cash loan with with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can choose to repay the total amount of your loan early at any time.
If you are deciding to pursue this option, please speak to our friendly business credit specialists. They will provide you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout in addition to 1.5 percent of the principal balance as well as any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and secure your information, is crucial and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to security for our clients and security. We employ an exceptionally sophisticated bank verification system to immediately confirm your bank account information online so we can offer a fast response.
An asset-based loan is when an business owner utilises an asset that they own to obtain the funds for a loan. The asset can be either an individual asset, such as the family home, or it could be a company asset like a truck or piece or equipment.
The vast majority of banks, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan then your asset may be taken over by the lender. In essence it’s a way of securing new financing using the value of what you already have.
For loans of up to $150K, the requirement for asset security is not required upfront to access the money However, we require a personal guarantee. require the personal guarantee. If you adhere to your loan commitments (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans over $150K generally, you can get a personal guarantee and security is provided in the form of charges on assets.
