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 loans.
All that’s required to begin is your contact details (company name, your name, email and phone) and the amount you’d like to lend, and your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not before we can begin:
Once we’ve started with loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started now.
Brisbane unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes online or by phone. You will receive an answer within the same day and the funds could be in your account within 24 hours. Traditional business loans are based on an interest rate per annum together with additional fees and charges. This business loan is a cash-based loan so you will be aware of the total amount payable including any fees, interest or charges. This is then broken down into weekly or daily payment amount.
A Small Business Loan can be used to fulfill almost every company need, such as cash flow management, company remodeling, marketing to purchase inventory, new equipment, for general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
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 of this size, your company needs to be operating for at least three years and have an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan can be used for almost any company reason, such as business renovations, to purchase equipment or inventory or as general working capital, and much more. The loan is not available for personal reasons.
Asset security is required to obtain funding above $150,000. It’s by way of charge on assets, and could include registration through the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is general in nature, rather than stating the security of a specific asset. The person who signs the ensure is personally liable in the event that the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date a security interest that is registered.
A caveat is a legal document lodged to provide an official notice of a claim to a property.
If you’re seeking a Larger Business Loan of more than $250K we may be able to provide an initial pre-approval to make the process. We may be able to do this without a credit check, and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering some financial well-being questions. This is neither an offer nor a guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer you receive could be subject to different conditions.
You can apply for an company loan if you;
The application process is simple and easy. Just complete the online application within a couple minutes, and an experienced company credit specialist will contact you to assist you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s Licence), an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank records, IRD statements and the last two years’ finalised financial statements, as well as interim financial statements for the current year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually offer an answer within one hour – as long as you make your application during standard company timings and let us make use of the advanced bank verification system link to instantly verify your bank details online. If you want to submit copies of your bank statement, we’ll offer the decision in as little as an business day.
For Larger Business Loans ($100K up to $500,000) we may be capable of provide you with conditional pre-approval in about six 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 particular circumstances of each application. Some transactions have received approval within 24 hours.
The quickest way to apply is to make sure you apply during normal company hours and permit us to use the modern bank verification to verify your bank account information online. If you upload the copies of bank accounts, it will take a little longer.
For the Small Business Loan ($5K or more) we can often provide an answer within one hour if you apply within standard business time and allow us to use the bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statement, we’ll offer the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K and up) we might be able to provide you with conditional pre-approval within six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, it could be faster based upon the circumstances for each application. Certain agreements have been approved in just 24 hours.
The most effective method for you to apply is make sure you apply during normal business hours, and let us use the modern bank verification to verify your bank account information online. If you upload copies of your bank statement, it may take a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of factors in order to assess what is the health that is your company and the extent of payments your business will be able to support. The amount you receive from your loan will depend on the specific circumstances for your company.
When you submit an application for a specific amount we take into consideration a variety of factors to determine the health that is your business and the level of the repayments your business is able to afford. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you request our company loan, we’ll assess the risk profile for your company and provide an individualised proposal that includes loan amount, term and the interest rates. It is a business loan is a loan that is priced upfront therefore you will be aware in advance of the total amount payable including any charges or interest.
The interest rates on company loans rates depend on a variety of variables like the amount to be that is borrowed, what company assets the funds will be used for and the sector the company operates in, the long the business has been operating, whether the business has enough cash flow to cover the loan, and overall health as well as creditworthiness business.
There are no hidden fees for our business loans. You’ll know precisely how much it is that you 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 are able to make your payments in time).
We don’t charge an application fee. You can request a credit loan no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated with the setting up and management of the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of the loan early at any time.
If you decide to take this route, please speak to our friendly business loans professionals. They will provide you with the details of your repayment and an early payment figure. This is calculated as 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 and any outstanding fees.
To ensure you do not miss repayments and to fit in with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your designated business account.
The security of your personal information, as well as being clear about the ways we gather information, use it, and exchange it, as well as protect your information, is of huge importance and is a crucial element of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to customer security and privacy. We utilise a sophisticated bank verification system to instantly verify your bank account information online. This allows us to provide a fast response.
An asset-based loan is when the business owner utilises the assets they have to secure the funds for a loan. The asset could be a personal asset like the family home, or an business property like a truck or piece or equipment.
The vast majority of banks, even the largest banks, are inclined to make loans secured by assets. If you are having difficulty paying back the loan then the asset might be offered for sale by the lender. In essence, it’s an opportunity to secure new financing taking advantage of the value of what you already own.
For loans of up to $150K, the requirement for asset security is not required prior to the loan’s access however, we do need the personal guarantee. As long as you follow the loan terms (as specified in your loan contract document) Asset security will never be required. For loans that exceed $150,000, typically, you will need an individual guarantee and security in the form an asset charge.
