The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K to $500K business loans.
All that is needed to get started is your contact details (the name of your company, your name, email and phone), how much you’d like to borrow, and your monthly revenue.
In the course of the process and before settlement we will require confirmation of who you are however, not in order to begin:
After we start when it comes to loans that exceed $150,000, you’ll also need 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 month and cash flow-friendly repayments which can be made daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes online or over the phone. You’ll get an answer within the same day and the funds could be available in just 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. The company loan is a cash-based loan and you’ll be aware in advance of the total amount payable including any fees, interest or charges. This is then broken down into weekly or daily amount to be paid back.
A Small Business Loan can be used to fulfill almost every business use, including cash flow management, business improvements, advertising to purchase inventory, new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a loan that is this large the company needs to be trading for at least 3 years, and have an annual income of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large business loan can be used for almost every business purpose including company remodeling, buying equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is required to obtain funding above $150,000. This can be done in the form of a charge against assets, and could be registered on the PPSR or registering a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature, rather than stipulating the security for a particular asset. The person who signs the ensure is personally liable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests that are registered for personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be assigned depending on the date that a security interest that is registered.
The caveat can be described as a formal document lodged to offer the public notice of a legal claim to property.
If you’re requesting the Larger Business Loan that exceeds $250K we may be able to provide a preliminary pre-approval to help make the process. It is possible to do this without a credit check and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes answering a couple of financial health questions. This is not an offer or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you are offered could be based on different conditions.
You can apply for an company loan if you:
The application process is quick and easy. Just fill out the online application within a few minutes and an experienced business lending specialist will contact you to guide you through the process.
To apply for up $100,000 you’ll need ID details (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll require:
$100K – $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, as well as interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K to $100K) we typically provide an answer within one hour, provided you submit your request in quality business times and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statement, we’ll offer an answer in as little as the span of one business day.
If you are applying for a Larger Business Loan ($100K or more) we could be capable of offer you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Certain deals have been approved in the space of 24 hours.
The quickest method for you to apply is make sure you apply during normal company hours. You can also permit us to use the advanced bank verification system to instantly verify your bank information online. If you decide to upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K and up) we usually provide an answer in just one hour – provided you make your application at normal business timings and permit us to use the bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements we can offer the decision within the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be capable of offer the conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The quickest method can be ensure you apply during standard business hours, and allow us to use our sophisticated bank verification link to verify your bank account information online. If you choose to send us duplicates of your banking accounts, it will take a little longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a particular amount, we look at a variety of variables to determine what is the health for your business and the amount of repayments that your company can support. The amount you receive from your loan will depend on the specifics of your business.
If you apply for a specific amount we look at a range of aspects to assess the health for your business as well as the amount of repayments your company can afford. The total amount of the loan will be determined by the specifics for your business.
When you apply for one of our business credit, we’ll assess the risk profile the company and offer you with a customised offer that includes the loan amount, the terms and interest rates. This business loan is an upfront-priced loan so you will be aware in advance of the total amount payable including any charges, interest rates or fees.
The interest rates on business loans rates differ based on various factors including the amount of money borrowed, the business assets the funds will be used for as well as the field the company operates in, how long the company is in operation for, whether the business has sufficient cash flow to pay for the loan, as well as the overall health or financial standing of the company.
There are no hidden costs with our business loans. You’ll be aware of the amount you’ll be required to pay, and when, starting from day one. There’s no compounding interest, and no additional fees (as as you make your payments in time).
We do not charge an application fee. You are able to request a credit loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can choose to repay the total amount of your loan in full at any time.
If you are deciding to do this please speak to our friendly company credit professionals. We will offer you with repayment details and an early payment figure. This will be calculated as the total of the remaining principal amount and any accrued interest at the time of early payment, plus 1.5% of the principal balance as well as any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your designated business account.
The security of your personal information, as well as making it clear how we collect the information we collect, use, share and protect your information, is of paramount importance and a vital part of our relationship you.
Yes. We employ industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to security for our customers and privacy. We make use of an advanced bank verification system link to immediately verify the bank account details online to offer an immediate response.
Asset-based borrowing occurs when the company owner makes use of an asset that they own to obtain the funding. The asset can be a personal asset like the family home, or a company asset such as a vehicle as well as a piece of machine.
The majority of the lenders including the major banks, prefer to make loans secured by assets. If you’re having trouble paying back the loan then the asset might be transferred to the lender. In essence it’s an opportunity to secure new financing using the worth of the asset you already have.
For loans up to $150K no asset security is required upfront to access the money but we do need a personal guarantee. So long as you comply with your loan obligations (as stipulated in the loan contract), asset security is not required. For loans that exceed $150,000, generally there is a personal guarantee and security is provided in the form of a charge over assets.
