The requirements for obtaining an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Take a look at the eligibility requirements for our $100K-$500K business financing.
All that is needed to get started is your contact information (the name of your company and your name, as well as email and telephone) and the amount you want to borrow, and your monthly earnings.
Through the process and before settlement we’ll need confirmation of who you are, but not for starting:
After we start, for loans of more than $150,000 you’ll 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. They also offer cash flow friendly repayments that are either per day or weekly.
Apply to get this Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and funds may be on your account within 24 hours. Traditional business loans have an annual interest rate plus other fees and charges. This company loan is a pre-paid loan and you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is divided into weekly or daily amount to be paid back.
A Small Business Loan can be used for virtually any business need, such as cash flow management, company renovations, marketing to purchase inventory, new equipment, for general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of with a maximum of 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a credit that is this large the business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A large company loan can be used to fund almost all business need, including company renovations, purchase of new equipment or inventory, as general working capital and so much more. The loan is not available for personal purposes.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge over assets and can include the registration of this on the PPSR or filing a caveat.
A personal or director’s ensure is a commitment to repay a loan which is generally in nature rather than defining security over an asset. The person who is signing the guarantee is personally liable in the event that the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are that are registered for personal property (including the assets or goods). The PPSR permits preference over private property assigned depending on the date that a security interest was registered.
An affidavit is an official document filed to provide notice of a legal claim on a property.
If you’re requesting an enterprise loan that exceeds $250K it is possible to offer an initial pre-approval that will help simplify the process. We may be able to apply for this without a credit check, and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering a few financial well-being checks. It is not an offer of credit or guarantee of financing. A conditional approval is subject an assessment of your creditworthiness 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 complete the online application within a few minutes and a dedicated company expert in lending will contact you to assist you.
To be eligible for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent, 12 month bank accounts, the IRD statement Last 2 years’ finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K and up) we can often offer an answer within an hour – as long as you apply within standard company times and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements we can provide an answer within the span of one business day.
For the Larger Business Loan ($100K and up) we may be likely to provide the conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval, however this can be quicker based on the circumstances of each application. Some transactions have received approval within just 24 hours.
The quickest way to apply is to make sure you apply during normal company hours. You can also let us use the advanced bank verification system to instantly confirm your bank details online. If you opt to send us the copies of bank accounts, it will take a little longer.
For the Small Business Loan ($5K or more) we typically provide a response in one hour – as long as you apply in normal business times and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you choose to upload copies of your banking statements, we’ll be able to offer the decision in as little as 1 business day.
For Larger Business Loans ($100K to $500K) we may be capable of offer you with a conditional pre-approval in about 6 hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Some agreements have been approved within 24 hours.
The fastest method would be to ensure you apply during standard business hours and allow 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 statement, it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a certain amount we consider a variety of factors to determine your health that is your business as well as the amount of repayments your business is able to afford. The total amount of your loan will depend on the specific circumstances for your company.
When you make an application for a certain amount, we will consider a number of factors to determine your health for your business and the extent of payments your business will be able to support. The amount you receive from your loan will be contingent on the particular circumstances of your business.
If you decide to make an application for our company financing, we will assess the risk profile for your business and provide you with a customised offer that includes the amount of the loan, the duration and interest rates. A company loan is an upfront priced loan so you will know the exact amount you will have to pay, including charges, interest rates or fees.
Interest rates for business loans rates depend on a variety of factors including the amount of money borrowed, the business assets the money are used to purchase, the industry the company operates in, how long the business has been in operation and in the event that the business has enough cash flow to fund the loan, as well as the overall well-being and creditworthiness of the business.
There are no hidden fees for our business loans. You’ll know precisely what you’ll be required to pay, and when, right from the day you sign up. There’s no compounding and no additional fees (as long as you make your payments in time).
We do not charge an application fee. You can get a cash loan no cost upfront or the obligation to take action.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can repay the total amount of your loan at any point in time.
If you do decide to do this please talk to one of our helpful company lending experts. We will offer you with details for repayment as well as an early payout amount. It will be calculated using the total of the principal balance and any accrued interest at the date of early payout, plus 1.5% of the principal balance as well as any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow schedule, we provide payments that are either daily or weekly. They are automatically deducted from your company account.
Protecting your information, and being clear about the ways we gather, use, exchange and ensure the security of your information is vital and is a crucial part of our relationship you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to customer security and security. We use an advanced banking verification system to instantly verify your bank account details online. This allows us to offer rapid response.
Asset-based borrowing occurs when a business owner makes use of an asset that they own to make 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 such as a truck or piece of equipment.
The majority of lending institutions, including the major banks, prefer to secure loans against assets. If you have trouble paying back the loan, the asset could be taken over by the lender. In essence, it’s an opportunity to secure new financing making use of the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required prior to the loan’s access however, we require a personal guarantee. need the personal guarantee. So long as you comply with the terms of your loan (as stipulated in your loan contract) Asset security is not required. For loans that exceed $150K, generally, you can get a personal guarantee and security is provided in the form of charges on assets.
