The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K to $500K business financing.
All that’s required to begin is your contact details (the name of your company, your name, email address and phone) and the amount you’d like to borrow, and your monthly income.
During the process and before settlement we will need confirmation of who you are but not before we can begin:
Additionally after we get started, for loans of more than $150,000 you will also need basic financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
You can apply to get your Small Business Loan in under 10 minutes by phone. You will receive an instant response and have the funds on your account within 24 hours. Traditional company loans have an annual rate of interest along with other charges and fees. This business loan is an upfront priced loan which means you know in advance the amount you will have to pay, including the interest, fees and charges. This is then broken down into either weekly or daily amount to be paid back.
A Small Business Loan can be used to fulfill almost any company reason, such as the management of cash flow, business renovations, marketing to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term that can last up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your situation.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the loan amount.
To qualify for a loan of this size the business needs to have been trading for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan is a great option for almost every business reason, such as business remodeling, buying inventory or new equipment as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. It is usually as a result of an charge on assets, and could include registration through the PPSR or filing as a caveat.
A personal or director’s ensure is a promise to repay credit that is generally based rather than stipulating security over a particular asset. The person who is signing the guarantee is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR allows prioritisation over property that is personal to be granted according to the date a security interest has been registered.
The caveat can be described as a formal form of document to provide the legal claim against a property.
If you’re seeking a Larger Business Loan of $250,000 or more it is possible to offer an initial pre-approval to ease the process. We may be able to get this done without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial health checks. It is not an offer or guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer you receive could be based on different terms.
You are eligible to apply for a company loan if you
The process for applying is fast and easy. Just fill out the online application within a few minutes and a dedicated company lending specialist will be in touch to guide you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s License) and a valid NZBN/IRD as well as at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent and 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour – as long as you apply at standard business times and permit us to utilise the advanced bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statements we can offer a decision in just an business day.
For the Larger Business Loan ($100K to $500K) we might be able to provide you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some offers have been approved in less than 24 hours.
The most effective method would be to make sure you apply during standard business hours, and allow us to use the modern bank verification link to instantly verify your bank information online. If you upload duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K or more) we usually provide an answer within one hour, provided you submit your request within normal business timings and let us make use of the advanced bank verification system link to immediately verify your bank account information online. If you decide to send us copies of your bank statements we can offer a decision in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be able to offer you with conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain offers have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours and allow us to use our modern bank verification to instantly confirm your bank details online. If you decide to send us copies of your bank statement, it takes a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of variables in order to assess how much we can lend you health of the company and the extent of the repayments your business can afford. The total amount of your loan will be contingent on the specifics of your company.
When you make an application for a particular amount, we consider a variety of factors to assess how much we can lend you such as health of the company as well as the amount of repayments your company is able to afford. The total amount of your loan will be contingent on the specific circumstances the business.
When you make an application for one of our company loan, we’ll assess the risk assessment for your business and provide you with a customised proposal that includes the loan amount, the terms and the interest rates. It is a company loan is an upfront cost loan which means you know in advance the total amount you will have to pay, including costs, fees, or interest rates.
The interest rates on business loans rates differ based on various factors such as the amount that is of money borrowed, the business assets the money will be used for, the industry the business operates in, how long the company is in operation, what percentage of the business has sufficient cash flow to support the loan, and the general well-being or financial standing of the company.
There are no hidden fees for our business loans. You’ll know precisely what you’ll be required to pay, and when, from the first day. There’s no compounding and there are no additional charges (as long as you make your payments on time).
We do not charge an application fee. You are able to apply for a loan with no upfront cost or commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You can choose to repay the total amount of your loan in full at any time.
If you do decide to pursue this option, please contact our helpful business loan professionals. The specialists will offer you with repayment details and an early payout figure. It will be calculated using the total of the remaining principal amount and the accrued interest up to the date of early payout, plus 1.5 percent of the principal balance as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your business account.
Making sure that your information is secure, and knowing how we collect the information we collect, use, share and secure your information, is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and security. We utilise a sophisticated bank verification system that allows you to immediately confirm your bank account information online to offer a fast response.
Asset-based borrowing occurs when the business owner borrows from assets they own to obtain a loan. The asset can be either an individual property, such as the family home, or it could be a company asset such as a truck or piece or equipment.
The vast majority of the lenders including the banks with the biggest size, prefer to secure loans against an asset. If you have trouble paying back the loan, then the asset might be transferred to the lender. In essence, it’s means of securing additional financing using the value of what you already have.
Up to $150K in loans the requirement for asset security is not required in advance to gain access to the funds however, we do require an individual guarantee. As long as you follow the terms of your loan (as stipulated in your loan contract) Asset security will never be needed. For loans that exceed $150K, generally there is personal ensure and security in the form an asset charge.
