The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Do you need more money? Check out the eligibility requirements for our $100K-$500K business loan.
All that’s required to get started is your contact information (company name, your name, email address, phone), how much you want to borrow, and your monthly revenue.
Through the process and before settlement we will need confirmation of your identity but not for starting:
Additionally after we get started, for loans of more than $150,000 you will also require basic financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
The application to this Small Business Loan in under 10 minutes on the internet or over the phone, receive an instant response and the money could be on your account within 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. This company loan is an upfront priced loan and you’ll know in advance the total amount to be paid, including any fees, interest or charges. Then, it is broken down into weekly or daily amount to be paid back.
A Small Business Loan can be used to fulfill almost every business purpose including cash flow management, company improvements, advertising to purchase inventory, new equipment, to fund general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on you cashflow.
This Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan that is this large, your company needs to have been operating for a minimum of 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A large company loan can be used for almost every business use, including company remodeling, buying inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal use.
Asset security is necessary for funding of more than $150,000. It’s in the form of a charge over assets, which could also include registration on the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is generally in nature rather than specifying the security for a particular asset. The person who is signing the ensure is personally liable if the company lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been that are registered for personal property (including objects or assets). The PPSR allows priority over personal property to be granted depending on the date that a security interest has been registered.
An affidavit is an official document filed to offer the legal claim to a property.
If you’re requesting larger business loans of more than $250K we can offer an initial pre-approval in order to simplify the process. We could be able to get this done without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial health questions. This is in no way an offer, nor is it a guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you are offered could be on different conditions.
You are eligible to apply for a company loan if you;
The process for applying is fast and easy. Complete the online form in few minutes and a dedicated business lending specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K-$250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details of the application, including credit consent twelve months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we can often provide an answer in just one hour, provided you submit your request during quality business timings and let us make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statement, we’ll provide an answer in as little as one business day.
For Larger Business Loans ($100K or more) we may be able to offer you with conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this may be quicker depending on the particular circumstances of each application. Some transactions have received approval within 24 hours.
The quickest way to apply can be ensure you apply during normal business hours, and allow us to use our advanced bank verification system to instantly verify your bank information online. If you upload documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K or more) we typically provide a response in one hour – as long as you make your application during normal business times and allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements we can offer the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K or more) We may be in a position to provide you with conditional pre-approval within six hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this may be quicker depending upon the circumstances for each application. Some transactions have received approval within 24 hours.
The fastest method would be to ensure you apply during normal business hours. You can also let us use the sophisticated bank verification to instantly check your bank’s information online. If you choose to send us copies of your bank accounts, it can take a bit longer.
We provide loans that range from $5,000 and $500,000. If you apply for a certain amount we look at a variety of aspects in order to assess what is the health that is your business and the amount of repayments your company can afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your company.
When you make an application for a specific amount we consider a variety of aspects to assess your health of your business as well as the amount of repayments that your business can afford. The amount you receive from your loan will be contingent on the particulars the company.
If you decide to apply for our business financing, we’ll assess the risk profile that you have for your business and provide you with a tailored offer that includes loan amount, term and the interest rates. The company loan is an upfront priced loan so you will know the exact amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates depend on several factors such as the amount that is borrowed, the business assets the money are used to purchase and the sector the business operates in, how long the business has been in operation, in the event that the business has enough cash flow to support the loan, and overall health or financial standing of the company.
There aren’t any hidden costs with our business loans. You’ll know exactly how much you’ll be required to pay, and when, from the very first day. There’s no compounding and there are no additional charges (as as you make your payments on time).
We don’t charge an Application Fee. You can make an application for loans without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated in establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can repay the entire amount of the loan in full at any time.
If you choose to do this please speak to our friendly company loan experts. We will offer you with details for repayment along with an early payout estimate. The figure will be calculated as the sum of the principal balance and the accrued interest up to the time of the early payout plus 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your nominated company account.
Protecting your information, and being transparent about the ways we gather the information we collect, use, share and secure your information, is crucial and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to customer security and security. We utilise a sophisticated bank verification system that allows you to immediately verify the bank account details online to provide rapid response.
Asset-based borrowing is when a business owner uses assets they own to obtain the funding. The asset could be an individual asset, such as the family home, or a company asset such as a truck as well as a piece of machine.
The majority of lenders, including the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan, then your asset may be offered for sale by the lender. In essence, it is means of securing new funding using the worth of the asset you already have.
Up to $150K in loans there is no requirement for asset security prior to the loan’s access but we require a personal guarantee. require the personal guarantee. In the event that you fulfill the terms of your loan (as stipulated in your loan contract document) and you are able to meet your obligations, asset security is not required. For loans that exceed $150,000, generally, there is a personal ensure and security in the form the charge of assets.
