The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Need more funds? Review the guidelines for eligibility for our $100K-$500K company financing.
All that’s needed for starting is your contact details (the name of your company and your name, as well as email and telephone) and the amount you’d like to lend, and your monthly earnings.
During the process and before settlement we’ll require confirmation of your identity but not before we can begin:
Once we’ve started with loans over $150,000 you’ll require basic financial statements:
Let’s get started now.
Brisbane unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either daily or weekly.
Apply to the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and have the funds on your account within 24 hours. Traditional business loans have an interest rate per annum together with additional fees and charges. We offer a business loan is a pre-paid loan therefore you’ll know ahead of time the amount you will have to pay, including any fees, interest or charges. This is then broken down into a daily or weekly repayment figure.
The Small Business Loan can be used for virtually any business reason, such as managing cash flows, business remodeling, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly to work with the flow of cash.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size the company needs to be trading for at least 3 years and have an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost all business reason, such as 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 required for funding of more than $150,000. This is by taking a charge on assets, and could include registration through the PPSR or making as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is general in nature rather than defining the security of a specific asset. The person who is signing the guarantee is personally responsible if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date a security interest that is registered.
An affidavit is an official form of document to offer the public notice of a legal claim to property.
If you’re applying for larger company loans of more than $250K we may be able to provide an initial pre-approval that will help simplify the process. We may be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment that includes answering a couple of financial health questions. It’s in no way an offer, nor is it a guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer that you receive could have different conditions.
You can apply for an business loan if you
The application process is fast and simple. Just fill out the online application in just a few minutes, and a dedicated business loan specialist will contact you to guide you.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s License) and an NZBN/IRD that is valid and at least six 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 IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent twelve months of bank records, IRD statements as well as the two most recent years’ financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K up to $100,000) We can usually provide an answer within one hour, provided you make your application during standard business time and let us make use of the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements , we are able to offer an answer within just one company day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of offer you with a conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in just 24 hours.
The quickest method for you to apply is make sure you apply during standard business hours. Also, let us use the advanced bank verification system link to instantly verify your bank account information online. If you choose to upload copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer within an hour, provided you make your application during normal business times and permit us to use the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your banking statements, we are able to provide a decision in just an business day.
For Larger Business Loans ($100K and up) We may be in a position to provide you with a conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be faster depending on the particular circumstances of each application. Certain transactions have received approval in 24 hours.
The fastest method for you to apply is make sure you apply during normal business hours and allow us to use the sophisticated bank verification link to instantly confirm your bank details online. If you upload documents from your account statements, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount we will consider a number of factors for determining your well-being for your company and the extent of payments your business is able to afford. The total amount of the loan will be determined by the specific circumstances that are unique to your company.
When you submit an application for a certain amount, we consider a variety of elements to assess your health of the company and the amount of payments your company is able to afford. The total amount of your loan will depend on the particulars of your business.
If you decide to apply for one of our company credit, we will assess the risk assessment of your business and provide you with a customised offer including the amount of loan, the term and the interest rates. This business loan is an upfront priced loan which means you know in advance the total amount due, which includes any charges, interest rates or fees.
The interest rates on company loans rates depend on several variables like the amount to be borrowed, the business assets the funds are used to purchase as well as the field the business is in, how long the company has been running and whether the company has enough cash flow to fund the loan, and also the overall well-being and creditworthiness of the business.
There aren’t any hidden costs 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 in time).
We do not charge an Application Fee. You can apply for a loan absolutely no upfront cost and no any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back all of your advance loan at any time.
If you are deciding to take this route, please contact our helpful company loan professionals. The specialists will provide you with repayment details and an early payment figure. This 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 percent of the remaining principal and any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from your designated company account.
Protecting your information, and knowing the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and an integral part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account details online to provide rapid response.
Asset-based borrowing is when an business owner borrows from assets they own to secure the loan. The asset can be an individual asset, such as the family home, or a company asset like a truck or other piece of machinery.
The vast majority of banks, including the big banks, tend to make loans secured by an asset. If you are having difficulty paying back the loan, then your asset may be offered for sale by the lender. In essence, it is an opportunity to secure new financing by taking advantage of the value of what you already have.
Up to $150K in loans there is no requirement for asset security upfront to access the money but we do require the personal guarantee. In the event that you fulfill your loan obligations (as specified in your loan contract) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150K generally there is a personal guarantee and security in the form an asset charge.
