The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Do you require more money? Take a look at the conditions of eligibility for our $100K to $500K business loans.
All that’s needed to get started is your contact details (the name of your company, your name, email and phone) along with the amount you’d like to borrow, and your monthly revenue.
In the course of the process and before settlement we’ll need confirmation of who you are but not to get started:
Additionally after we get started, for loans of more than $150,000 you’ll need the following financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes on the phone. You’ll receive an answer within the same day and the money could be available in just 24 hours. Traditional business loans refer to an annual interest rate as well as other fees and charges. Our business loan is a pre-paid loan and you’ll be aware in advance of the total amount due, which includes any fees, interest or charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for virtually any business need, such as cash flow management, business remodels and marketing for purchasing inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a loan that is this large, your company needs to have been trading for at least 3 years with an annual turnover of $700K. The applicant must also 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 larger company loan can be used for almost all business reason, such as company remodeling, buying equipment or inventory, as general working capital and much more. The loan cannot be used for personal use.
Asset security is required to access funding over $150,000. It’s by taking a charge against assets, and could include the registration of this in the PPSR or filing a caveat.
A director’s or personal guarantee is a promise to repay a loan which is generally in nature rather than specifying the security for a particular asset. The person signing the ensure is personally liable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted according to the date the security interest has been registered.
An affidavit is an official document that is filed to provide an official notice of a claim against a property.
If you’re applying for the Larger Business Loan of $250,000 or more it’s possible to offer a preliminary pre-approval to help simplify the process. We could be able to make this decision without a credit check, and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering a few financial well-being checks. It’s not an offer of credit or guarantee of finance. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you might receive could have different terms.
You are eligible to apply for a business loan if you;
The process for applying is fast and simple. Just complete the online application within a couple minutes, and a dedicated business expert in lending will contact you to help you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Application details 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 twelve months of bank statements, IRD statements, last 2 years finalised financial statements, as well as interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour, provided you make your application during quality company times and permit us to use the advanced bank verification system to instantly verify your bank information online. If you opt to send us copies of your bank statements , we are able to provide a decision within just 1 company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be capable of provide you with pre-approval conditional to your application within about six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours and allow us to use the advance bank verification link to instantly verify your bank information online. If you choose to send us copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide a response in one hour – as long as you apply in standard business hours and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements we can provide the decision in just one business day.
For Larger Business Loans ($100K and up) We may be able to provide you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some agreements have been approved within the space of 24 hours.
The most efficient method can be make sure you apply during normal business hours and permit us to use the modern bank verification to check your bank’s information online. If you send us the copies of bank accounts, it may take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a specific amount we look at a variety of elements in order to assess how much we can lend you well-being of the company and the amount of the repayments your company will be able to support. The amount you receive from the loan will be determined by the specific circumstances that are unique to your company.
When you make an application for a specific amount we consider a variety of elements to assess how much we can lend you such as health of your business as well as the amount of the repayments your business will be able to support. The total amount of your loan will be determined by the specific circumstances for your business.
If you decide to make an application for the company credit, we’ll assess the risk profile of your business and offer an individualised offer, including the amount of the loan, the duration and the interest rates. A company loan is an upfront priced loan which means you know the exact amount due, which includes any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors including the amount borrowed, the business assets the money are used to purchase, the industry the company is operating in, how long the company has been in operation, how long the business has sufficient cash flow to support the loan, and also the overall health or financial standing of the business.
There aren’t any hidden charges with 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 there are no additional charges (as as you make your payments on time).
We don’t charge an application fee. You are able to request a credit loan absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. You are only charged 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 all of your loan at any point in time.
If you do decide to do this please talk to one of our helpful business loan specialists. They’ll offer you with the details of your repayment and an early payout figure. This will be calculated as the sum of the remaining principal amount and accrued interest to the date of early payout, plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To ensure you do not miss repayments and to fit in your cash flow cycle we provide payments that are either weekly or daily. They are automatically deducted from your company account.
Security of your data, and knowing how we collect the information we collect, use, share and protect your information, is of paramount importance and is an essential element of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and security. We employ an exceptionally sophisticated bank verification system link to instantly verify your bank account details online, allowing us to offer quick responses.
Asset-based borrowing is when a business owner makes use of the assets they have to obtain a loan. The asset could be an individual asset, such as the family home or it could be a company property like a truck or piece of equipment.
The vast majority of the lenders even the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan, your asset may be transferred to the lender. In essence, it’s means of securing additional financing using the worth of the asset you already have.
For loans of up to $150K, it is not necessary to secure assets upfront to access the money but we require a personal guarantee. require an individual guarantee. As long as you follow your loan commitments (as stated in the loan contract), asset security will never be required. For loans of over $150K generally there is the option of a personal ensure and security that is in the form a charge over assets.
