The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business loans.
All that is needed to begin is your contact details (company name, your name, email or phone number) and the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we will require confirmation of your identity but not to get started:
After we start with loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and funds may be on your account within 24 hours. Traditional business loans reference an interest rate per annum along with other charges and fees. We offer a company loan is a pre-paid loan and you’ll be aware of the total amount payable including any fees, interest or charges. This is then broken down into either weekly or daily payment amount.
A Small Business Loan can be used for almost any company reason, such as control of cash flow business renovations, marketing, to purchase inventory or new equipment, for general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
In order to be eligible for a loan in this amount the business needs to have been trading for at least 3 years with an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Business Loan of a larger size is a great option for almost any company reason, such as business renovations, purchase of inventory or new equipment, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary for accessing funds over $150,000. It’s as a result of an charge on assets and can include the registration of this with the PPSR or registering as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is generally in nature rather than stating security over an asset. The person signing the guarantee is personally liable in the event that the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including the assets or goods). The PPSR gives prioritisation over property that is personal to be granted according to the date the security interest was registered.
The caveat can be described as a formal document that is filed to provide an official notice of a claim against a property.
If you’re requesting an enterprise loan that exceeds $250K we can offer an initial pre-approval in order to simplify the process. We might be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial well-being checks. It’s not an offer or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you are offered could be on different terms.
You can apply for a company loan if you:
The process for applying is fast and simple. Just fill out the online application within a few minutes and an experienced company loan specialist will be in touch to help you.
To apply for up $100,000, you’ll require identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Details of the application, including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer within an hour if you submit your request within quality company hours and allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your banking statements , we’ll be able to provide an answer within just one business day.
For the Larger Business Loan ($100K to $500K) we may be able to offer you with pre-approval conditional to your application within about six hours. After you’ve signed your pre-approval, turnaround times are 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 within 24 hours.
The quickest method for you to apply is make sure you apply during normal company hours and allow us to use our modern bank verification link to instantly check your bank’s information online. If you opt to send us the copies of bank statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within an hour, provided you make your application at standard business times and allow us to use the bank verification system link to instantly verify your bank details online. If you decide to upload copies of your bank statements, we will be able to offer the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we might be capable of provide the conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Certain offers have been approved in 24 hours.
The fastest method is to make sure you apply during standard business hours. You can also let us use the advance bank verification to verify your bank information online. If you send us copies of your bank statements, it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a particular amount, we look at a variety of aspects in order to assess what is the well-being that is your business and the amount of payments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances that are unique to your business.
When you apply for a particular amount, we take into consideration a variety of factors to assess the health of the business and the amount of payments your business is able to afford. The amount you receive from your loan will be contingent on the specifics the business.
If you decide to request one of our business loan, we’ll assess the risk profile that you have for your business and provide an individualised offer that includes the amount of loan, the term and the interest rates. The business loan is an upfront priced loan so you will be aware of the total amount to be paid, including any costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors such as the amount that is of money borrowed, the business assets the funds will be used for in addition to the industry that the company operates in, how long the company has been in operation and what percentage of the company has enough cash flow to pay for the loan, as well as the general well-being or creditworthiness of the company.
There aren’t any hidden charges with our company loans. You’ll be aware of the amount you’ll be required to pay, and when, from the day you sign up. There’s no compounding interest and there are no additional charges (as as you make your payments on time).
We do not charge an application fee. You are able to request a credit loan with absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the costs associated in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can repay the total amount of your loan early at any time.
If you are deciding to pursue this option, please call our helpful company loans experts. They’ll provide you with details on repayment along with an early payout estimate. The figure will be calculated as the total of the principal remaining and accrued interest to the date of early payout, plus 1.5% of the principal amount remaining and any fees that remain unpaid.
To ensure that you don’t miss payment dates and to align your cash flow cycle we offer repayments that are either daily or weekly. These are automatically deducted from your business account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and safeguard your data, is of paramount importance and a vital part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified 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. This allows us to offer an immediate response.
An asset-based loan is when an business owner borrows from an asset they own to make the funds for a loan. The asset could be a personal asset like the family home, or it could be a business asset such as a vehicle as well as a piece of machine.
The vast majority of banks, including the big banks, tend to guarantee loans against an asset. If you’re struggling to pay back the loan, your asset may be taken over by the lender. In essence it’s the process of securing additional financing taking advantage of the value of what you already have.
For loans up to $150,000 the requirement for asset security is not required upfront to access the money but we do need an individual guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150K generally, there is personal guarantee and security in the form of an asset charge.
