The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Review the guidelines for eligibility for our $100K-$500K company loan.
All that’s required to begin is your contact details (company name and your name, as well as email or phone number) along with the amount you’d like to lend, and your monthly income.
While in the process and before settlement we will require confirmation of your identity but not for starting:
Once we’ve started with loans of more than $150,000 you will also need fundamental financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes over the phone, receive a same day response and the funds could be in your account in 24 hours. Traditional company loans are based on an annual rate of interest plus other fees and charges. The business loan is a cash-based loan which means you know in advance the total amount due, which includes any fees, charges or charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for virtually every business reason, such as managing cash flows, business improvements, advertising to purchase inventory or new equipment, or as general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on your cash flow.
This Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
To qualify for a loan that is this large, your company needs to have been operating for a minimum of 3 years, and have an annual income of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan can be used for nearly all company reason, such as business remodeling, buying inventory or new equipment for general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary to access funding over $150,000. This can be done by taking a charge on assets, and could include registering this in the PPSR or making a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally based rather than stating the security of a specific asset. The person who is signing the guarantee is personally accountable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests that are registered for personal property (including goods or assets). The PPSR allows preference over private property granted according to the date the security interest has been registered.
An affidavit is an official document filed to offer the legal claim on a property.
If you’re seeking a Larger Business Loan of more than $250K we may be able to provide an initial pre-approval that will help ease the process. We could be able to get this done without a credit check and within 6 hours of your initial application. The pre-approval process is based on an initial assessment, which involves answering a couple of financial well-being questions. It is not an offer of credit or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer you are offered could be based on different terms.
You are eligible to apply for an business loan if you;
The application process is quick and simple. Complete the online form within a couple minutes, and a dedicated business credit specialist will contact you to guide you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also require:
$100K-$250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Information on the application including credit consent twelve month bank accounts, the IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we usually provide an answer in just one hour – as long as you apply at standard company hours and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your bank statements , we’ll be able to provide the decision within 1 business day.
For the Larger Business Loan ($100K or more) we may be likely to provide you with pre-approval conditional to your application within six hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based upon the circumstances for each application. Some deals have been approved in less than 24 hours.
The most efficient method for you to apply is make sure you apply during normal company hours and allow us to use the modern bank verification to confirm your bank details online. If you opt to send us copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K to $100K) we can often provide a response in one hour – as long as you apply during standard business hours and allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you want to upload copies of your banking statements, we are able to offer an answer in just an business day.
For the Larger Business Loans ($100K up to $500,000) we may be capable of offer the conditional pre-approval in around six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Certain deals have been approved within just 24 hours.
The fastest way is to ensure you apply during normal business hours, and allow us to use our advance bank verification link to verify your bank information online. If you send us copies of your bank statements, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. If you apply for a specific amount we will consider a number of aspects to determine what is the health of the business as well as the amount of repayments your business can support. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
When you apply for a set amount, we look at a range of variables to assess the well-being for your company and the amount of repayments your company will be able to support. The total amount of your loan will be contingent on the specifics of your company.
If you decide to apply for the company financing, we’ll assess the risk assessment that you have for your business and provide you with a customised proposal that includes the loan amount, the terms and the interest rates. This business loan is a loan that is priced upfront which means you be aware in advance of the total amount due, which includes any interest rates, fees or charges.
The interest rates on company loans rates depend on several variables like the amount to be of money borrowed, the business assets the funds will be used for and the sector the business is in, how long the business has been running for, how long the company has enough cash flow to pay for the loan, as well as the general health or creditworthiness of the business.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you’ll need to pay and when, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We do not charge an application fee. You can apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this 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 total amount of your loan in full at any time.
If you are deciding to pursue this option, please speak to our friendly business lending experts. They’ll provide you with the details of your repayment and an early payout figure. It will be calculated using the total of the principal remaining and accrued interest to the time of the early payout in addition to 1.5% of the principal remaining as well as any outstanding fees.
To make sure you do not miss payments and to work with your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and safeguard your data, is of huge importance and is an essential aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and privacy. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account details online to provide an immediate response.
The term "asset-based" refers to borrowing where an business owner uses assets they own to secure the funding. The asset can be either an asset belonging to the personal, like the family home or it could be a company asset like a truck or piece or equipment.
The vast majority of lending institutions, not just the banks with the biggest size, prefer to guarantee loans against assets. If you’re having trouble paying back the loan, then your asset may be taken over by the lender. In essence, it is means of securing new financing taking advantage of the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required in advance to gain access to the funds but we do require an individual guarantee. If you adhere to your loan obligations (as specified in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150K, generally, there is a personal guarantee and security is provided in the form of charges on assets.
