The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K to $500K business loans.
All you need to start is your contact information (company name, your name, email, phone) as well as the amount you’d like to lend, and your monthly revenue.
While in the process and before settlement we will need confirmation of your identity, but not to get started:
Additionally after we get started, for loans greater than $150,000 you’ll require the following financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and the funds could be on your account within 24 hours. Traditional company loans are based on an interest rate per annum together with additional fees and charges. Our business loan is a cash-based loan and you’ll know in advance the total amount to be paid, including the interest, fees and charges. Then, it is divided into a daily or weekly amount to be paid back.
A Small Business Loan can be used for almost any business need, such as managing cash flows, company remodeling, marketing for purchasing inventory or new equipment, as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly depending on your situation.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To be eligible for a loan of this size the business needs to be operating for a minimum of 3 years with an annual turnover of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Business Loan of a larger size is a great option for almost any company reason, such as company renovations, to purchase new equipment or inventory or as general working capital and so much more. The loan is not available for personal use.
Asset security is necessary to obtain funding above $150,000. This is as a result of an charge over assets, and could be registered through the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to repay a loan which is generally based rather than defining the security of a specific asset. The person who signs the guarantee is personally accountable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including goods or assets). The PPSR allows preference over private property granted according to the date a registration of a security interest.
Caveats are legal document lodged to offer the public notice of a legal claim to a property.
If you’re applying for larger company loans that is greater than $250K it is possible to offer an initial pre-approval that will help make the process. We may be able to apply for this without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves the answer to a series of financial well-being checks. This is in no way an offer, nor is it a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you are offered could be on different terms.
You may apply for an business loan if you
The application process is quick and easy. Simply complete the online form in just a few minutes, and an experienced business credit specialist will contact you to assist you.
To apply for up $100,000, you’ll need ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statement Last 2 years’ finalised financial statements, and interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K and up) we usually offer a response in one hour, provided you submit your request during quality company times and you allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements we can offer a decision in as little as 1 business day.
For Larger Business Loans ($100K up to $500,000) we might be able to offer you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Some deals have been approved in less than 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours. Also, allow us to use the advance bank verification link to instantly check your bank’s information online. If you opt to upload copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K or more) we can often provide a response in one hour, provided you make your application within standard business timings and you allow us to use the bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statements, we are able to offer an answer in as little as one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be able to provide you with conditional pre-approval within six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Certain deals have been approved in less than 24 hours.
The fastest way is to ensure you apply during standard business hours. You can also permit us to use the advance bank verification to instantly verify your bank account information online. If you send us duplicates of your banking accounts, it may take a bit longer.
We provide loans that range from $5,000 and $500,000. When you submit an application for a particular amount, we look at a variety of aspects in order to assess how much we can lend you health for your company and the level of repayments that your company is able to afford. The total amount of your loan will depend on the specifics of your business.
When you submit an application for a particular amount, we will consider a number of elements to determine your health of your company as well as the amount of payments your company will be able to support. The amount you receive from your loan will be contingent on the particulars for your company.
If you decide to request our company loan, we will assess the risk profile that you have for your company and provide an individualised proposal that includes the amount of the loan, the duration and the interest rates. This business loan is an upfront priced loan and you’ll know the exact amount due, which includes any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors including the amount that is borrowed, what company assets the money will be used for, the industry the company is operating in, how long the company has been in operation as well as what percentage of the company has sufficient cash flow to fund the loan, as well as the overall health as well as creditworthiness company.
There aren’t any hidden charges for our company loans, and you’ll know exactly how much it is that you need to pay and when, from the first day. There’s no compounding interest, and no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You can request a credit loan with absolutely no upfront cost and no obligation to proceed.
The Origination Fee is the cost associated with setting up and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay the entire amount of your loan in full at any time.
If you do decide to do this please speak to our friendly business loan experts. They will provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal balance and the accrued interest up to the time of early payout in addition to 1.5 percent of the principal amount remaining plus any outstanding fees.
To help you avoid missing payments and to work your cash flow schedule, we provide repayments either daily or weekly. These are automatically deducted from your business account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as secure your information, is of huge importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to customer security and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online to offer rapid response.
Asset-based borrowing is when an company owner utilises assets they own to make the funds for a loan. The asset may be a personal asset like the family home, or it could be a company asset such as a truck or other piece of machinery.
The vast majority of banks, not just the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan then your assets could be transferred to the lender. In essence it is the process of securing new funding using the value of what you already have.
Up to $150,000 in loans it is not necessary to secure assets prior to the loan’s access, however we require a personal guarantee. require a personal guarantee. As long as you follow your loan commitments (as stated in your loan contract) the security of assets is not needed. For loans of over $150,000 generally there is personal guarantee and security is provided in the form of a charge over assets.
