The eligibility requirements for an unsecured business loan in Brisbane of between $5K to $100K are quite minimal.
Looking for more funding? Check out the eligibility requirements for our $100K-$500K company credit.
All that’s needed to start is your contact information (company name, your name, email and phone), how much you’d like to borrow, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity however, not in order to begin:
After we start in the process, for loans over $150,000 you’ll also need basic financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and have the funds available in just 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. Our business loan is a cash-based loan therefore you’ll be aware in advance of the total amount to be paid, including the interest, fees and charges. Then, it is broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used to fulfill almost any company use, including the management of cash flow, business improvements, advertising for purchasing inventory or new equipment, or as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be in operation for at least 3 years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger business loan can be used for nearly all business need, including company improvements, purchasing inventory or new equipment, as general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. This can be done as a result of an charge over assets and can include the registration of this in the PPSR or the registration of a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally based rather than stating security over an asset. The person who signs the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests that are registered for personal property (including objects or assets). The PPSR allows prioritisation over property that is personal to be assigned according to the date a security interest was registered.
The caveat can be described as a formal document filed to provide the public notice of a legal claim against a property.
If you’re applying for larger company loans of $250K or more we can offer an initial pre-approval that will help simplify the process. It is possible to apply for this without credit checks and within six hours of your initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial health checks. It’s not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you may receive may be on different terms.
You may be eligible for an company loan if you;
The application process is fast and easy. Just complete the online application in few minutes and an experienced business expert in lending will be in touch to guide you through the process.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s License) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent twelve month bank accounts, the IRD statements, last 2 years finalised financial statements, and interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K and up) We can usually provide an answer within one hour, provided you apply at standard business time and you allow us to utilise the bank verification system link to immediately verify your bank account information online. If you choose to upload copies of your bank statements , we are able to offer the decision in just one company day.
For the Larger Business Loan ($100K to $500K) we may be in a position to offer you with conditional pre-approval in around 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain deals have been approved within less than 24 hours.
The most effective method can be ensure you apply during normal company hours and allow us to use our advance bank verification link to verify your bank account information online. If you decide to send us duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer a response in one hour, provided you apply in normal business time and allow us to use the advanced bank verification system to immediately verify your bank account information online. If you opt to send us copies of your bank statements, we will be able to offer a decision within 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we might be in a position to offer you with conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Some offers have been approved in 24 hours.
The most efficient method is to ensure you apply during standard business hours, and allow us to use our modern bank verification to verify your bank account information online. If you opt to upload documents from your account statements it takes a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a specific amount we consider a variety of factors to determine the health that is your company and the extent of repayments your business can support. The amount you receive from your loan will be contingent on the specifics the business.
If you apply for a specific amount we will consider a number of aspects to assess the well-being that is your business and the extent of repayments your company can support. The total amount of your loan will depend on the particulars of your company.
When you apply for business loans with us business financing, we will assess the risk assessment the company and provide you with a tailored offer that includes the amount of loan, the term and the interest rates. This company loan is an upfront cost loan which means you know the exact amount due, which includes any costs, fees, or interest rates.
Business loan interest rates depend on several variables like the amount to be that is borrowed, what company assets the funds will be used for as well as the field the company operates in, how long the business has been running and how long the business has enough cash flow to fund the loan, and the overall health or creditworthiness of the company.
There aren’t any hidden costs for our company loans. You’ll be aware of the amount you’ll need to pay and when, starting from the first day. There’s no compounding interest, and there are no additional charges (as as you make your payments punctually).
We do not charge an application fee. You are able to make an application for loans no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay the entire amount of the loan early at any time.
If you decide to take this route, please talk to one of our helpful company loans professionals. We will provide you with the details of your repayment and an early payment figure. This will be calculated as the sum of the principal amount remaining and any accrued interest at the time of early payment and 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from your business account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and safeguard your data, is crucial and a vital aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to customer security and security. We utilise a sophisticated banking verification system to immediately verify your bank account details online, allowing us to offer an immediate response.
Asset-based borrowing is when a company owner borrows from an asset they own to secure a loan. The asset can be an asset belonging to the personal, like the family home, or it could be a business asset such as a vehicle or piece of equipment.
The vast majority of lenders, not just the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan then the asset might be offered for sale by the lender. In essence, it is an opportunity to secure new financing using the value of what you already have.
For loans up to $150,000 there is no requirement for asset security before you are able to access the money however, we do require an individual guarantee. If you adhere to the loan terms (as stipulated in the loan contract) Asset security is not required. If you take out loans in excess of $150K generally, you are able to get personal guarantee and security in the form charges on assets.
