The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K business loans.
All you need to begin is your contact information (the name of your company, your name, email and telephone) and the amount you’d like to borrow, and your monthly income.
In the course of the process and before settlement we’ll need confirmation of who you are however, not in order to begin:
After we start in the process, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
The application to this Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and have the funds in your account in 24 hours. Traditional company loans have an interest rate per annum together with additional fees and charges. We offer a company loan is a loan that is priced upfront therefore you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is divided into a daily or weekly repayment figure.
A Small Business Loan can be used for virtually any business need, such as cash flow management, company improvements, advertising to purchase inventory or 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 of loan that can be used to fund company expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are either weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To qualify for a loan that is this large, your company needs to have been operating for at least three years with an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used for almost all business purpose including business remodeling, buying new equipment or inventory or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. It is usually by taking a charge on assets, and may include registering this in the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature, rather than stating security over an asset. The person signing the guarantee is personally responsible if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be granted depending on the date that a security interest has been registered.
A caveat is a legal document that is filed to provide notice of a legal claim to property.
If you’re requesting larger business loans that exceeds $250K we may be able to provide a preliminary pre-approval to help simplify the process. It is possible to apply for this without credit checks and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes answering a couple of financial health checks. It is not an offer of credit or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be on different conditions.
You may be eligible for a company loan if you;
The application process is quick and simple. Simply complete the online form in just a few minutes, and an experienced business expert in lending will call you to assist you.
To apply for up to $100,000 you’ll need ID details (valid Driver’s License) along with a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Information about the application including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent and 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we usually offer an answer within one hour – as long as you apply at standard company times and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statement, we’ll offer the decision within 1 company day.
For Larger Business Loans ($100K up to $500,000) we may be likely to offer you with pre-approval conditional to your application within six hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based on the specifics of each application. Some agreements have been approved in 24 hours.
The quickest way to apply would be to make sure you apply during standard business hours. Also, allow us to use our advanced bank verification system link to verify your bank information online. If you send us duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K to $100K) we typically offer an answer within an hour – as long as you apply in standard business hours and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you want to submit copies of your bank statements we can offer a decision within 1 business day.
For the Larger Business Loans ($100K or more) we could be capable of provide the conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this could be shorter based upon the circumstances for each application. Certain agreements have been approved within the space of 24 hours.
The quickest method would be to make sure you apply during normal business hours. You can also permit us to use the advanced bank verification system link to verify your bank information online. If you choose to send us documents from your account statements it takes a bit longer.
We provide loans that range from $5,000 to $500,000. When you make an application for a specific amount we look at a variety of factors for determining what is the health for your business as well as the amount of repayments that your business will be able to support. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your company.
If you apply for a certain amount, we will consider a number of variables to determine the well-being for your business and the extent of the repayments your company is able to afford. The total amount of your loan will be contingent on the specifics for your business.
If you decide to request business loans with us company financing, we’ll assess the risk profile the business and offer you with a customised offer that includes loan amount, term and interest rates. It is a business loan is an upfront priced loan which means you be aware of the total amount payable including any costs, fees, or interest rates.
Business loan interest rates depend on a variety of factors like the amount of money of money borrowed, the company assets the funds are used to purchase and the sector the business operates in, how long the company is in operation as well as whether the company has enough cash flow to support the loan, and general health or financial standing of the business.
There aren’t any hidden charges with our company loans, and you’ll know exactly how much it is that you need to pay, and when, right from day one. There’s no compounding interest and the loan comes with no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You can get a cash loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can decide to repay the total amount of your loan at any point in time.
If you are deciding to pursue this option, please call our helpful company lending specialists. We will provide you with the details of your repayment along with an early payout estimate. This will be calculated as the sum of the principal amount remaining and accrued interest to the time of the early payout in addition to 1.5% of the principal remaining and any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow cycle we offer repayments either weekly or daily. They will be automatically deducted from your nominated company account.
Security of your data, and knowing the ways we gather, use, exchange and secure your information, is crucial and an integral part of our relationship you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We make use of an advanced bank verification system that allows you to immediately verify your bank account details online. This allows us to offer an immediate response.
Asset-based borrowing is when the business owner makes use of the assets they have to obtain a loan. The asset could be an individual asset, such as the family home, or it could be a company asset such as a truck or other piece of machinery.
The vast majority of the lenders including the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, the asset could be taken over by the lender. In essence it is means of securing new financing by using the worth of the asset you already have.
For loans up to $150,000 the requirement for asset security is not required prior to the loan’s access However, we require a personal guarantee. need an individual guarantee. In the event that you fulfill your loan commitments (as stipulated in your loan contract document) and you are able to meet your obligations, asset security will never be needed. For loans that exceed $150,000, generally there is an individual ensure and security is provided in the form of charges on assets.
