The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Need more funds? Check out the guidelines for eligibility for our $100K to $500K company loan.
All that’s needed to start is your contact information (company name, your name, email, phone), how much you’d like to borrow and your monthly income.
Through the process and before settlement we will need confirmation of who you are, but not to get started:
After we start with loans of more than $150,000 you’ll require the following financial statements:
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Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
The application for your Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an answer within the same day and the money could be in your account in 24 hours. Traditional business loans are based on an annual interest rate together with additional fees and charges. Our business loan is a cash-based loan which means you be aware of the total amount payable including any interest, fees or charges. Then, it is broken down into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for nearly any business need, such as the management of cash flow, company improvements, advertising to purchase inventory, new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the loan amount.
To qualify for a loan of this size the company needs to have been in operation for at least 3 years with an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Larger Business Loan is a great option for almost every business need, including business remodeling, buying new equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is required to access funding over $150,000. It’s in the form of a charge against assets and can be registered through the PPSR or filing as a caveat.
A personal or director’s ensure is a promise to repay a loan which is general in nature rather than stating security over a particular asset. The person who is signing the ensure is personally liable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated 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 permits prioritisation over property that is personal to be granted depending on the date that a security interest that is registered.
An affidavit is an official form of document to offer notice of a legal claim to property.
If you’re applying for a Larger Business Loan of $250K or more, we may offer an initial pre-approval in order to ease the process. We might be able to get this done without credit checks and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial well-being questions. It’s not an offer or guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you may receive may be subject to different conditions.
You can apply for an business loan if you:
The process for applying is fast and simple. Complete the online form within a few minutes and a dedicated business loan specialist will be in touch to guide you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Details for application including credit consent, 12 months of bank statements, IRD statement as well as the two most recent years’ financial statements, plus interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K and up) we typically offer a response in one hour, provided you make your application at quality business hours and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statement, we’ll provide a decision within the span of one business day.
For the Larger Business Loan ($100K or more) we may be able to provide you with conditional pre-approval within 6 hours. After you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Some transactions have received approval within the space of 24 hours.
The fastest way can be ensure you apply during standard business hours. You can also let us use the modern bank verification to confirm your bank details online. If you choose to send us the copies of bank statement, it will take a little longer.
For the Small Business Loan ($5K and up) we can often offer a response in one hour – provided you submit your request in standard business times and let us utilise the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your banking statements we can provide a decision within 1 business day.
If you are applying for Larger Business Loans ($100K or more) We may be capable of offer you with a conditional pre-approval within about six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Some offers have been approved in less than 24 hours.
The fastest way can be make sure you apply during normal business hours. You can also allow us to use our advance bank verification to instantly verify your bank information online. If you decide to upload documents from your account statement, it can take a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a certain amount, we look at a variety of variables that determine how much we can lend you health of your business and the extent of repayments that your company can afford. The total amount of your loan will depend on the particular circumstances for your company.
When you make an application for a specific amount we take into consideration a variety of factors to determine your health for your business and the level of repayments that your business will be able to support. The amount you receive from your loan will depend on the particular circumstances of your company.
If you decide to make an application for one of our company loans, we’ll assess the risk assessment the business and offer you with a tailored offer including loan amount, term and the interest rates. This company loan is an upfront priced loan and you’ll know in advance the total amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates depend on several factors like the amount of money borrowed, what company assets the money will be used for and the sector the business operates in, the long the company is in operation for, whether the business has sufficient cash flow to pay for the loan, as well as the overall well-being or financial standing of the business.
There are no hidden fees for our company loans. You’ll know precisely how much you need to pay and when, starting from day one. There’s no compounding interest, and no extra fees (as long as you are able to make your payments on time).
We don’t charge an application fee. You are able to get a cash loan without any upfront costs or commitment to apply.
The Origination Fee includes the expenses associated in establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can repay the total amount of your loan early at any time.
If you decide to take this route, please talk to one of our helpful business lending specialists. The specialists will offer you with repayment details as well as an early payout amount. The figure will be calculated as the sum of the principal amount remaining and any accrued interest at the time of early payment, plus 1.5% of the principal remaining and any outstanding fees.
In order to help you avoid missing payments and to work with your cash flow standard, we offer repayments either daily or weekly. These are automatically deducted from your business account.
Protecting your information, and knowing the ways we gather the information we collect, use, share and protect your information, is of huge importance and is a crucial part of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We use an advanced bank verification system to immediately verify your bank account details online so we can offer quick responses.
An asset-based loan is when an business owner uses an asset that they own to make the funds for a loan. The asset can be an individual property, such as the family home, or it could be a business asset like a truck or other piece of machinery.
The vast majority of the lenders even the largest banks, are inclined to guarantee loans against an asset. If you have trouble paying back the loan, then your asset may be taken over by the lender. In essence, it is means of securing new financing by making use of the value of what you already own.
For loans that exceed $150K, no asset security is required prior to the loan’s access but we do require the personal guarantee. So long as you comply with your loan commitments (as detailed in your loan contract) and you are able to meet your obligations, asset security will never be needed. For loans of over $150K generally, you can get an individual guarantee and security that is in the form a charge over assets.
