The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Find out the guidelines for eligibility for our $100K to $500K company credit.
All you need to get started is your contact details (the name of your company, your name, email or phone number) along with the amount you want to borrow, and your monthly income.
In the course of the process and before settlement we’ll require confirmation of who you are but not before we can begin:
After we start, for loans that exceed $150,000, you will also require basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and have the funds in your account in 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. The business loan is an upfront priced loan and you’ll be aware in advance of the total amount due, which includes any interest, fees or charges. This is then broken down into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually any company purpose including managing cash flows, business improvements, advertising to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
A 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 of this size, your business needs to be trading for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Larger Business Loan can be used for almost any business reason, such as company renovations, to purchase new equipment or inventory for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is required for funding of more than $150,000. It’s in the form of a charge over assets and can be registered in the PPSR or making a caveat.
A director’s or personal guarantee is a promise to repay a loan which is generally in nature rather than specifying security over a particular asset. The person who is signing the guarantee is personally responsible if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including items or assets). The PPSR allows the priority of personal property assigned in accordance with the date on which a security interest was registered.
An affidavit is an official form of document to offer the public notice of a legal claim to a property.
If you’re requesting larger business loans that exceeds $250,000 we may be able to provide a preliminary pre-approval to help smooth out the process. We may be able to do this without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering some financial health questions. It is neither an offer nor a guarantee of financing. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you might receive could be based on different conditions.
You are eligible to apply for a business loan if you:
The application process is fast and simple. Just complete the online application in few minutes and an experienced business lending specialist will call you to assist you.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s Licence) along with a valid 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 consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank records, IRD statements, last 2 years finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) we typically offer an answer within one hour if you make your application within quality company timings and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to upload copies of your bank statement, we’ll provide an answer in just 1 business day.
For the Larger Business Loan ($100K and up) we might be able to offer the conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however it could be faster based on the specifics of each application. Some offers have been approved in just 24 hours.
The fastest way is to make sure you apply during normal business hours. Also, allow us to use our advance bank verification link to check your bank’s information online. If you opt to send us documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K or more) we typically offer a response in one hour – as long as you submit your request during normal business times and allow us to use the bank verification system to instantly verify your bank information online. If you want to send us copies of your bank statements we can provide the decision in as little as an business day.
For Larger Business Loans ($100K to $500K) We may be capable of offer you with pre-approval conditional to your application in around six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based on the specifics of each application. Some offers have been approved in 24 hours.
The most effective method for you to apply is ensure you apply during standard business hours, and allow us to use our advanced bank verification system to confirm your bank details online. If you upload documents from your account statements, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a specific amount we look at a variety of factors to determine your well-being of your business and the amount of the repayments your business can afford. The total amount of your loan will depend on the particular circumstances that are unique to your business.
When you apply for a set amount, we take into consideration a variety of aspects to determine the well-being of the company and the extent of repayments that your company is able to afford. The amount you receive from your loan will be determined by the particular circumstances the business.
When you apply for one of our business credit, we will assess the risk assessment the company and offer you with a customised offer, including the loan amount, the terms and the interest rates. It is a company loan is an upfront cost loan which means you be aware in advance of the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates vary due to factors like the amount of money borrowed, the company assets the money will be used for as well as the field the company operates in, how long the business has been operating as well as in the event that the company has sufficient cash flow to fund the loan, and also the overall health and creditworthiness of the business.
There aren’t any hidden costs with our company loans, and you’ll be aware of the amount you be required to pay and when, right from the first day. There’s no compounding and no extra fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You are able to request a credit loan with no upfront cost or 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 choose to proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back the entire amount of your advance loan at any time.
If you do decide to take this route, please speak to our friendly business loan specialists. The specialists will provide you with details for repayment and an early payout figure. It will be calculated using the total of the principal balance plus any accrued interest as of the time of early payment in addition to 1.5% of the principal remaining and any fees that remain unpaid.
To make sure you do not miss payment dates and to align with your cash flow standard, we offer repayments either weekly or daily. These are automatically deducted from your designated business account.
Making sure that your information is secure, and being upfront about the ways we gather, use, exchange and safeguard your data, is vital and an integral element 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 certified for our dedication to customer security and privacy. We make use of an advanced bank verification system link to immediately confirm your bank account information online to offer a fast response.
Asset-based borrowing is when the company owner uses the assets they have to secure the funding. The asset can be either a personal asset like the family home or a company asset such as a truck or piece of equipment.
The vast majority of banks, not just the big banks, tend to secure loans against an asset. If you have trouble paying back the loan then your asset may be transferred to the lender. In essence it is an opportunity to secure new funding taking advantage of the value of what you already own.
Up to $150K in loans the requirement for asset security is not required before you are able to access the money but we do require an individual guarantee. As long as you follow the terms of your loan (as detailed in the loan contract) the security of assets will never be required. For loans that exceed $150K, generally there is an individual ensure and security in the form of a charge over assets.
