The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K-$500K company financing.
All that is needed to get started is your contact information (the name of your company, your name, email and telephone) as well as the amount you want to borrow, and your monthly earnings.
During the process and before settlement we will require confirmation of your identity, but not for starting:
Once we’ve started when it comes to loans that exceed $150,000, you’ll also require the following financial statements:
Let’s get started now.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
You can apply to your Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the money could be in your account within 24 hours. Traditional company loans have an interest rate per annum as well as other fees and charges. This company loan is a pre-paid loan so you will be aware of the total amount payable including any interest, fees or charges. This is then divided into weekly or daily repayment figure.
The Small Business Loan can be used for virtually every business need, such as the management of cash flow, business renovations, marketing, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount the company needs to have been operating for a minimum of 3 years, and have an annual income of $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used for nearly any company need, including company improvements, purchasing new equipment or inventory for general working capital and so much more. The loan is not available for personal use.
Asset security is required for funding of more than $150,000. This can be done by taking a charge against assets, and could include registering this through the PPSR or filing a caveat.
A personal or director’s ensure is a promise to repay credit that is general in nature rather than stipulating the security for a particular asset. The person signing the ensure is personally liable if the company lender is not able to re-pay 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 registered in respect of personal property (including the assets or goods). The PPSR permits prioritisation over property that is personal to be assigned in accordance with the date on which a registration of a security interest.
Caveats are legal form of document to provide the legal claim to a property.
If you’re requesting an enterprise loan of $250,000 or more we can offer an initial pre-approval to ease the process. It is possible to get this done without a credit check, and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes you answering a few financial well-being questions. It’s neither an offer nor a guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer that you are offered could be on different conditions.
You may be eligible for an company loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and a dedicated business credit specialist will be in touch to help you.
To apply for up to $100,000, you’ll need the right identification documents (valid Driver’s Licence), a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank statements, IRD statements and the last two years’ finalised financial statements, and interim financial statements for the current year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) we can often provide an answer in just one hour – as long as you make your application in standard business hours and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to send us copies of your bank statement, we’ll provide the decision within the span of one business day.
For Larger Business Loans ($100K or more) we may be able to provide the conditional pre-approval within six hours. After you’ve signed your pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this could be shorter based on the circumstances of each application. Some deals have been approved in the space of 24 hours.
The quickest way to apply would be to make sure you apply during normal business hours. You can also allow us to use the advanced bank verification system to instantly verify your bank account information online. If you decide to send us duplicates of your banking statements , it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer a response in one hour – provided you submit your request within standard business timings and let us utilise the advanced bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statements, we are able to provide an answer in just 1 business day.
For Larger Business Loans ($100K up to $500,000) we could be likely to offer you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this can be faster depending on the circumstances of each application. Certain offers have been approved in just 24 hours.
The fastest method is to make sure you apply during standard business hours. Also, allow us to use the advanced bank verification system link to verify your bank account information online. If you choose to send us copies of your bank statement, it takes a bit longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a certain amount, we take into consideration a range of variables that determine the well-being of the company and the amount of repayments that your company can support. The total amount of your loan will be contingent on the specific circumstances that are unique to your company.
When you submit an application for a particular amount, we will consider a number of variables to determine how much we can lend you such as well-being of the business and the extent of payments your company can afford. The total amount of the loan will be determined by the particulars that are unique to your company.
When you apply for our business credit, we will assess the risk assessment of your business and provide you with a customised proposal that includes loan amount, term and interest rates. This business loan is an upfront cost loan which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
The interest rates on business loans rates depend on a variety of factors like the amount of money borrowed, what company assets the money will be used for, the industry the company is operating in, how long the company is in operation as well as in the event that the company has sufficient cash flow to pay for the loan, as well as the general health as well as creditworthiness business.
There are no hidden costs with our business loans. You’ll be aware of the amount it is that you need to pay and when, starting from the day you sign up. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You are able to apply for a loan without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can choose to repay the entire amount of your advance loan at any time.
If you decide to pursue this option, please speak to our friendly company loans experts. They’ll provide you with the details of your repayment as well as an early payout amount. This will be calculated as the total of the principal remaining and any accrued interest at the time of the early payout and 1.5 percent of the principal balance and any fees that remain unpaid.
To ensure that you don’t miss payments and to work your cash flow schedule, we offer repayments that are either daily or weekly. These are automatically withdrawn from your designated company account.
Protecting your information, and being upfront about the ways we gather, use, exchange and protect your information, is of paramount importance and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of clients and privacy. We make use of an advanced banking verification system to immediately verify your bank account details online so we can offer quick responses.
Asset-based borrowing is when the company owner utilises the assets they have to secure a loan. The asset can be an individual asset, such as the family home, or an business asset such as a truck or piece or equipment.
The majority of lending institutions, including the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan then the asset might be sold by the lender. In essence it’s a way of securing new financing making use of the value of what you already have.
For loans up to $150,000 there is no requirement for asset security upfront to access the money however, we do need the personal guarantee. If you adhere to the terms of your loan (as detailed in your loan contract document) Asset security will never be required. If you take out loans in excess of $150,000 generally, there is a personal guarantee and security in the form the charge of assets.
