The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K to $500K business credit.
All you need to get started is your contact information (company name, your name, email, phone) as well as the amount you want to borrow, and your monthly income.
While in the process and before settlement we’ll need confirmation of who you are, but not to get started:
After we start with loans greater than $150,000 you’ll require the following financial statements:
Let’s get started.
Brisbane unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either daily or weekly.
The application for the Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and have the funds on your account within 24 hours. Traditional company loans are based on an annual interest rate together with additional fees and charges. Our business loan is a pre-paid loan therefore you’ll be aware of the total amount due, which includes any interest, fees or charges. This is then broken down into either weekly or daily installment amount.
The Small Business Loan can be used for virtually every company use, including managing cash flows, business renovations, marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your company needs to be in operation for at least 3 years and have an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan can be used to fund almost all company use, including company renovations, purchase of inventory or new equipment or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is necessary for funding of more than $150,000. It’s by way of charge against assets, and may include the registration of this through the PPSR or registering a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is general in nature rather than stating the security for a particular asset. The person who signs the ensure is personally liable in the event that the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR permits the priority of personal property assigned according to the date the security interest has been registered.
Caveats are legal document filed to provide an official notice of a claim on a property.
If you’re requesting a Larger Business Loan that exceeds $250K we can offer an initial pre-approval in order to ease the process. We could be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial health questions. It is neither an offer nor a guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer that you are offered could have different conditions.
You may apply for a company loan if you;
The application process is quick and easy. Complete the online form in just a few minutes, and a dedicated company credit specialist will contact you to help you.
To be eligible for up to $100,000, you’ll need the right identification documents (valid Driver’s License), an active NZBN/IRD, and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent as well as 12 months of bank records, IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year as well as Aged Payables and Receivables Summary.
For an unsecured loan ($5K and up) we usually offer a response in one hour – as long as you make your application in quality company times and permit us to utilise the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements , we are able to provide a decision within just one business day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of offer you with pre-approval conditional to your application within 6 hours. After you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Certain offers have been approved in less than 24 hours.
The most effective method is to ensure you apply during normal business hours, and allow us to use our advance bank verification link to verify your bank information online. If you opt to send us the copies of bank statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we usually provide an answer within one hour, provided you apply at normal business times and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements we can provide a decision in as little as the span of one business day.
For the Larger Business Loans ($100K or more) we might be likely to provide the conditional pre-approval within about six hours. Once you have signed the pre-approval, the turnaround time is 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 the space of 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours. You can also allow us to use our advanced bank verification system to confirm your bank details online. If you decide to upload documents from your account statements it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount we take into consideration a range of variables to determine how much we can lend you well-being that is your company and the extent of the repayments your company is able to afford. The amount you receive from your loan will depend on the specifics for your company.
When you make an application for a certain amount, we take into consideration a variety of variables to determine the health that is your company and the level of repayments your company is able to afford. The total amount of your loan will be contingent on the particulars the company.
When you apply for our business loan, 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. This company loan is an upfront-priced loan which means you be aware of the total amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates vary due to factors including the amount borrowed, what company assets the money will be used for and the sector the company is operating in, how long the company is in operation and in the event that the company has enough cash flow to support the loan, and the general health or creditworthiness of the company.
There are no hidden costs for our business loans, and you’ll know precisely how much you’ll need to pay and at what time, from the very first day. There’s no compounding and no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You can request a credit loan no cost upfront or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the amount of loan.
You may choose to pay back the entire amount of your advance loan at any time.
If you choose to pursue this option, please contact our helpful business lending specialists. They will provide you with details for repayment as well as an early payout amount. This is calculated as the sum of the principal balance plus any accrued interest as of the time of early payment and 1.5% of the principal remaining and any outstanding fees.
To ensure you do not miss repayments and to fit in with your cash flow routine, we offer repayments that are either daily or weekly. They will be automatically deducted from your business account.
Protecting your information, and being clear about the ways we gather data, process, exchange and protect your information, is crucial and is an essential 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 qualified for our dedication to customer security and privacy. We employ a highly sophisticated bank verification system to immediately verify the bank account details online so we can offer quick responses.
An asset-based loan is when an company owner uses an asset they own to obtain a loan. The asset may be an individual asset, such as the family home or it could be a company asset such as a truck as well as a piece of machine.
The majority of banks, not just the major banks, prefer to make loans secured by an asset. If you’re struggling to pay back the loan, then your asset may be offered for sale by the lender. In essence it is the process of securing new financing using the value of what you already have.
For loans that exceed $150,000, there is no requirement for asset security prior to the loan’s access however, we require a personal guarantee. require a personal guarantee. In the event that you fulfill your loan obligations (as stated in the loan contract), asset security will never be required. For loans over $150,000 generally, you can get an individual guarantee and security in the form a charge over assets.
