The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Check out the conditions of eligibility for our $100K-$500K company credit.
All that’s needed to start is your contact information (company name, your name, email address and telephone), how much you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started when it comes to loans over $150,000 you’ll also need the following financial statements:
Let’s get started.
Brisbane unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
The application for your Small Business Loan in under 10 minutes on the phone. You’ll receive an answer within the same day and funds may be in your account within 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. The company loan is a loan that is priced upfront and you’ll know ahead of time the total amount payable including any interest, fees or charges. Then, it is broken down into either weekly or daily amount to be paid back.
The Small Business Loan can be used for almost every business use, including managing cash flows, company improvements, advertising to purchase inventory, new equipment, for general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are either weekly or fortnightly depending on you cashflow.
The Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
In order to be eligible for a loan that is this large the business needs to have been operating for at least three years and have an annual turnover of $700,000. Your company must belong to 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 demonstrate at least 12 months of trading.
A large business loan can be used for almost all company use, including company renovations, purchase of equipment or inventory as well as for general working capital, and much more. The loan is not available for personal use.
Asset security is required for accessing funds over $150,000. This is as a result of an charge against assets and can include the registration of this through the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is generally in nature rather than specifying security over an asset. The person who signs the guarantee is personally liable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including objects or assets). The PPSR permits the priority of personal property granted according to the date a security interest was registered.
Caveats are legal document that is filed to provide an official notice of a claim on a property.
If you’re seeking larger business loans of $250K or more we may be able to provide an initial pre-approval that will help smooth out the process. We might be able to do this without a credit verification and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial health checks. This is not an offer or guarantee of funds. A conditional approval is subject a full credit assessment and any offer you are offered could be on different terms.
You are eligible to apply for an business loan if you;
The application process is fast and easy. Complete the online form in just a few minutes, and an experienced company lending specialist will contact you to guide you through the process.
To apply for up to $100,000, you’ll require ID details (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent as well as 12 months of bank records, IRD statement and the last two years’ finalised financial statements, plus interim financials from the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K to $100K) we usually provide a response in one hour – as long as you apply during standard business timings and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your bank statements , we are able to offer the decision within one business day.
For the Larger Business Loan ($100K or more) we may be capable of provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved within 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours, and permit us to use the advanced bank verification system link to confirm your bank details online. If you choose to upload documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we typically offer an answer within an hour – provided you make your application in normal business hours and allow us to use the bank verification system to instantly verify your bank details online. If you choose to submit copies of your bank statement, we’ll offer a decision in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be likely to provide you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Certain offers have been approved in less than 24 hours.
The fastest method would be to make sure you apply during normal business hours. Also, allow us to use our modern bank verification to instantly check your bank’s information online. If you decide to upload documents from your account statements, it will take a little longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of variables to determine how much we can lend you well-being of your company as well as the amount of payments your company will be able to support. The total amount of the loan will be determined by the particular circumstances that are unique to your company.
When you submit an application for a set amount, we will consider a number of factors to determine the health that is your business and the extent of repayments that your business is able to afford. The amount you receive from your loan will depend on the particular circumstances the company.
If you decide to make an application for one of our company financing, we will assess the risk assessment for your business and provide you with a customised offer, including loan amount, term and the interest rates. The company loan is an upfront-priced loan and you’ll be aware of the total amount payable including any charges or interest.
Business loan interest rates depend on several variables like the amount to be that is borrowed, what business assets the money are used to purchase, the industry the company is in, how long the business has been operating as well as how long the company has sufficient cash flow to fund the loan, and the overall well-being or financial standing of the business.
There are no hidden costs for our business loans. You’ll be aware of the amount you be required to pay and at what time, 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 in time).
We don’t charge an application fee. You are able to make an application for loans without any upfront costs or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of loan.
You may choose to pay back the entire amount of your loan at any point in time.
If you decide to take this route, please speak to our friendly business credit experts. They’ll offer you with details for repayment along with an early payout estimate. The figure will be calculated as the sum of the remaining principal amount and accrued interest to the time of early payment, plus 1.5% of the principal amount remaining as well as any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we provide payments that are either weekly or daily. They will be automatically deducted from the nominated business account.
Making sure that your information is secure, and knowing how we collect data, process, exchange and ensure the security of your information is vital and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We make use of an advanced bank verification system that allows you to instantly verify your bank account details online so we can offer an immediate response.
Asset-based borrowing occurs when a company owner borrows from the assets they have to obtain the funding. The asset may be a personal asset like the family home or a company asset such as a vehicle or other piece of machinery.
The majority of lending institutions, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan then your assets could be offered for sale by the lender. In essence it is a way of securing new funding using the worth of the asset you already own.
For loans up to $150K there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. need an individual guarantee. As long as you follow the terms of your loan (as specified in your loan contract document) Asset security will never be needed. For loans over $150,000 typically, you will need personal guarantee and security is provided in the form of an asset charge.
