The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K to $500K company financing.
All that’s required to begin is your contact information (the name of your company, your name, email and telephone) along with the amount you’d like to borrow and your monthly income.
Through the process and before settlement we will require confirmation of your identity but not before we can begin:
Additionally after we get started when it comes to loans of more than $150,000 you will also require the following financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow-friendly repayments which can be made 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 the funds could be in your account within 24 hours. Traditional company loans are based on an annual interest rate plus other fees and charges. Our company loan is a cash-based loan and you’ll be aware of the total amount to be paid, including the interest, fees and charges. Then, it is broken down into either weekly or daily installment amount.
The Small Business Loan can be used for almost every business use, including the management of cash flow, business improvements, advertising to purchase inventory, new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund business growth 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 depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a loan of this size, your business needs to have been in operation for at least 3 years and have an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A large company loan can be used for almost all company reason, such as business improvements, purchasing new equipment or inventory for general working capital and much more. The loan is not available for personal use.
Asset security is necessary to obtain funding above $150,000. This is by way of charge against assets, and could include registration in the PPSR or the registration of a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is generally in nature rather than stipulating the security for a particular asset. The person signing the ensure is personally accountable if the business creditor is unable 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 granted to individuals who own personal property (including the assets or goods). The PPSR grants priority over personal property to be assigned depending on the date that a security interest was registered.
An affidavit is an official document lodged to provide the legal claim to property.
If you’re seeking a Larger Business Loan that is greater than $250K it is possible to offer an initial pre-approval to make the process. We may be able to do this without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial health checks. It is neither an offer nor a guarantee of financing. A conditional approval is subject an assessment of your creditworthiness and any offer that you are offered could be on different terms.
You can apply for an business loan if you
The application process is simple and simple. Just fill out the online application within a few minutes and an experienced company lending specialist will contact you to guide you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll also require:
$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 for application including credit consent and 12 months of bank records, IRD statements and the last two years’ finalised financial statements, and interim current financial year financials as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K to $100K) we can often provide an answer in just one hour – as long as you apply in quality company hours and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your bank statement, we’ll provide an answer within just 1 business day.
For the Larger Business Loan ($100K to $500K) we may be capable of provide you with a conditional pre-approval within about 6 hours. After you’ve signed your pre-approval form, it will take 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 just 24 hours.
The fastest way can be ensure you apply during normal company hours, and allow us to use the advance bank verification to instantly check your bank’s information online. If you upload documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within one hour if you apply at normal business hours and let us use the bank verification system to instantly verify your bank’s information online. If you want to send us copies of your bank statements, we are able to offer the decision within 1 business day.
For the Larger Business Loans ($100K to $500K) we may be likely to provide you with a conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Some deals have been approved in 24 hours.
The fastest way is to ensure you apply during standard business hours and allow us to use the modern bank verification to instantly confirm your bank details online. If you choose to upload the copies of bank statements, it may take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you submit an application for a certain amount we will consider a number of aspects to determine the health of your business as well as the amount of repayments your business can afford. The total amount of your loan will be contingent on the specifics for your company.
When you make an application for a particular amount, we take into consideration a variety of aspects to determine the well-being of the company as well as the amount of repayments that your business will be able to support. The total amount of your loan will be determined by the specifics that are unique to your business.
If you decide to apply for business loans with us company loans, we will assess the risk assessment for your company and provide you with a tailored proposal that includes loan amount, term and interest rates. The business loan is an upfront cost loan therefore you will know in advance the total amount you will have to pay, including charges or interest.
Interest rates for company loans rates depend on several factors such as the amount that is borrowed, the business assets the funds will be used for, the industry the company is in, how long the company has been in operation and how long the company has enough cash flow to fund the loan, and overall well-being and creditworthiness of the business.
There are no hidden fees for our company loans. You’ll know precisely what you’ll be required to pay, and when, right from day one. There’s not any compounding interest and no extra fees (as as you make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan with without any upfront costs or commitment to apply.
The Origination Fee includes the expenses associated in establishing and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You can repay all of your advance loan at any time.
If you do decide to take this route, please talk to one of our helpful business loans professionals. We will provide you with details for repayment and an early payment figure. This is calculated as the sum of the principal amount remaining and the accrued interest up to the time of the early payout, plus 1.5% of the principal remaining and any outstanding fees.
To make sure that you don’t miss repayments and to fit in with your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from the nominated business account.
Making sure that your information is secure, and being transparent about the ways we gather data, process, exchange and ensure the security of your information is vital and is a crucial part of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to protecting the security of clients and privacy. We utilise a sophisticated bank verification system to instantly confirm your bank account information online so we can provide an immediate response.
An asset-based loan is when an business owner utilises the assets they have to obtain the funds for a loan. The asset could be an asset belonging to the personal, like the family home, or an business asset like a truck as well as a piece of machine.
The majority of the lenders even the big banks, tend to guarantee loans against assets. If you are having difficulty paying back the loan then your asset may be transferred to the lender. In essence, it is means of securing additional financing using the worth of the asset you already have.
For loans of up to $150,000, no asset security is required prior to the loan’s access However, we do require a personal guarantee. So long as you comply with your loan obligations (as detailed in the loan contract) Asset security will never be required. For loans over $150K generally, there is an individual ensure and security in the form a charge over assets.
