The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Do you need more money? Review the eligibility requirements for our $100K-$500K business loans.
All you need to get started is your contact details (company name and your name, as well as email or phone number), how much you’d like to borrow and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are, but not to get started:
Once we’ve started with loans that exceed $150,000, you’ll also require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
You can apply to get the Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and have the funds in your account within 24 hours. Traditional business loans are based on an interest rate per annum together with additional fees and charges. This business loan is a pre-paid loan therefore you’ll know in advance the total amount payable including any fees, charges or charges. This is then broken down into a daily or weekly installment amount.
The Small Business Loan can be used to fulfill almost any business reason, such as the management of cash flow, company improvements, advertising to purchase inventory, new equipment, to fund general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To qualify for a loan that is this large, your business needs to have been trading for at least 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Larger Business Loan can be used for almost all company need, including company renovations, to purchase inventory or new equipment or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to access funding over $150,000. It’s by way of charge against assets, which could also include registration in the PPSR or registering as a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is generally based rather than stating the security of a specific asset. The person who is signing the guarantee is personally responsible if the company lender is not able to pay back 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 prioritisation over property that is personal to be granted in accordance with the date on which a security interest was registered.
A caveat is a legal document lodged to provide an official notice of a claim against a property.
If you’re applying for larger company loans of more than $250,000 it’s possible to offer a preliminary pre-approval to help ease the process. It is possible to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial well-being questions. This is neither an offer nor a guarantee of finance. A conditional approval is subject an assessment of your creditworthiness and any offer that you may receive may have different conditions.
You are eligible to apply for a business loan if you;
The application process is fast and easy. Just complete the online application in few minutes and an experienced company lending specialist will call you to assist you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually offer an answer in just one hour if you make your application at quality company times and permit us to utilise the bank verification system link to immediately verify your bank account information online. If you want to upload copies of your bank statements , we will be able to provide an answer in just an company day.
For the Larger Business Loan ($100K up to $500,000) we might be likely to offer you with conditional pre-approval in around six hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved in just 24 hours.
The most efficient method is to make sure you apply during normal business hours. You can also permit us to use the modern bank verification link to instantly verify your bank account information online. If you opt to send us duplicates of your banking accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often provide a response in one hour if you make your application at standard business timings and allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements, we are able to provide a decision in just one business day.
If you are applying for Larger Business Loans ($100K and up) we could be able to provide you with a conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Some deals have been approved within the space of 24 hours.
The quickest method would be to ensure you apply during standard business hours, and allow us to use the sophisticated bank verification link to check your bank’s information online. If you choose to upload documents from your account statements, it will take a little longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a certain amount, we consider a variety of aspects that determine how much we can lend you health of the business and the extent of payments your business can afford. The amount you receive from the loan will be determined by the specific circumstances of your business.
When you apply for a particular amount, we will consider a number of factors to determine your well-being that is your company and the extent of repayments that your business can afford. The total amount of the loan will be determined by the specifics for your business.
When you apply for the company financing, we’ll assess the risk profile that you have for your company and provide an individualised offer, including loan amount, term and the interest rates. The company loan is an upfront priced loan therefore you will know the exact amount to be paid, including any interest rates, fees or charges.
Business loan interest rates depend on several factors including the amount borrowed, the company assets the funds are used to purchase as well as the field the business operates in, how long the company has been operating for, in the event that the company has sufficient cash flow to fund the loan, and general well-being as well as creditworthiness business.
There are no hidden costs for our business loans. You’ll know precisely how much you’ll need to pay and at what time, from the very first day. There’s no compounding interest and no extra fees (as as you make your payments in time).
We don’t charge an application fee. You can request a credit loan no cost upfront or the obligation to take action.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can choose to repay the total amount of your loan in full at any time.
If you decide to do this please contact our helpful company loan specialists. The experts will offer you with details on repayment and an early payout figure. The figure will be calculated as the sum of the remaining principal amount and any accrued interest at the time of early payout plus 1.5% of the remaining principal and any fees that remain unpaid.
To ensure you do not miss due dates and also to be in line your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from your business 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 an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We utilise a sophisticated bank verification system to immediately confirm your bank account information online. This allows us to provide an immediate response.
The term "asset-based" refers to borrowing where a company owner makes use of assets they own to make the loan. The asset could be an individual asset, such as the family home, or a business asset like a truck or piece of equipment.
The vast majority of banks, even the banks with the biggest size, prefer to make loans secured by assets. If you are having difficulty paying back the loan, then the asset might be taken over by the lender. In essence it is an opportunity to secure new financing by taking advantage of the value of what you already own.
Up to $150,000 in loans it is not necessary to secure assets before you are able to access the money However, we require a personal guarantee. need an individual guarantee. If you adhere to the loan terms (as stipulated in your loan contract document) the security of assets will never be needed. For loans of over $150K generally, you are able to get the option of a personal guarantee and security in the form of the charge of assets.
