The eligibility requirements for an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Are you looking for additional funding? Check out the eligibility requirements for our $100K-$500K company loan.
All that is needed for starting is your contact information (the name of your company, your name, email or phone number), how much you’d like to borrow, as well as your monthly income.
Through the process and before settlement we will require confirmation of your identity but not for starting:
Once we’ve started, for loans of more than $150,000 you will also require basic financial statements:
Let’s get started.
Brisbane unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
The application to get your Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the money could be on your account within 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. We offer a business loan is a loan that is priced upfront therefore you’ll know in advance the total amount to be paid, including the interest, fees and charges. Then, it is divided into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used to fulfill almost every business purpose including control of cash flow company remodels and marketing, to purchase inventory or new equipment, as general working capital and so 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 business growth opportunities. Loans are between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount the company needs to be operating for at least three years, and have an annual income of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for almost any business reason, such as business remodeling, buying new equipment or inventory, as general working capital and much more. The loan cannot be used for personal use.
Asset security is needed to access funding over $150,000. This can be done as a result of an charge against assets, and may include registration through the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature, rather than specifying the security of a specific asset. The person who is signing the ensure is personally liable in the event that the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR permits priority over personal property to be assigned according to the date the security interest was registered.
An affidavit is an official document filed to offer notice of a legal claim to property.
If you’re requesting an enterprise loan that is greater than $250,000 we can offer a preliminary pre-approval to help make the process. It is possible to make this decision without a credit verification and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial health checks. It is not an offer of credit or guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer you might receive could be subject to different terms.
You can apply for a company loan if you;
The process for applying is fast and simple. Just fill out the online application in few minutes and a dedicated company credit specialist will be in touch to assist you.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, plus interim financials for the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K or more) we can often provide an answer within an hour – as long as you apply within quality company times and let us utilise the bank verification system link to instantly verify your bank details online. If you opt to upload copies of your bank statements , we will be able to provide an answer in just the span of one company day.
For the Larger Business Loan ($100K and up) we could be in a position to offer you with pre-approval conditional to your application within about six hours. After you’ve signed your pre-approval document, you will require to wait between 2 and 3 days for the final approval, however this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The fastest way for you to apply is make sure you apply during standard company hours. You can also allow us to use our advanced bank verification system to check your bank’s information online. If you opt to upload duplicates of your banking statements , it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer a response in one hour – provided you apply within normal business timings and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements, we are able to provide an answer within 1 business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be able to offer you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Certain offers have been approved in less than 24 hours.
The fastest method would be to ensure you apply during normal business hours. Also, permit us to use the advance bank verification to instantly verify your bank account information online. If you opt to send us copies of your bank accounts, it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we will consider a number of factors to determine what is the health of the company and the level of the repayments your business is able to afford. The total amount of the loan will be determined by the particular circumstances of your company.
When you make an application for a certain amount, we look at a range of elements to assess how much we can lend you such as health of the business as well as the amount of payments your business is able to afford. The total amount of your loan will depend on the specific circumstances for your company.
When you apply for business loans with us business financing, we will assess the risk assessment for your business and provide an individualised offer, including the loan amount, the terms and interest rates. A company loan is an upfront priced loan therefore you will be aware in advance of the total amount payable including any costs, fees, or interest rates.
Business loan interest rates depend on several factors including the amount of money borrowed, the company assets the money are used to purchase and the sector the company operates in, how long the business has been in operation for, how long the company has enough cash flow to support the loan, and the general health or creditworthiness of the business.
There are no hidden fees with our business loans. You’ll be aware of the amount you be required to pay and when, right from the first day. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You are able to request a credit loan no cost upfront or obligation to proceed.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can decide to repay the entire amount of your loan in full at any time.
If you are deciding to pursue this option, please talk to one of our helpful company credit professionals. The professionals will offer you with repayment details as well as an early payout amount. This is calculated as the total of the principal amount remaining and any accrued interest at the time of early payout in addition to 1.5% of the principal remaining as well as any outstanding fees.
To ensure you do not miss repayments and to fit in your cash flow schedule, we provide repayments either weekly or daily. These are automatically withdrawn from your nominated company account.
Protecting your information, and being clear about the ways we gather data, process, exchange and protect your information, is crucial and is a crucial element of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system that allows you to immediately confirm your bank account information online, allowing us to provide an immediate response.
The term "asset-based" refers to borrowing where a company owner makes use of an asset that they own to get the funds for a loan. The asset can be a personal asset like the family home or a business asset like a truck or other piece of machinery.
The vast majority of lending institutions, even the largest banks, are inclined to guarantee loans against an asset. If you’re struggling to pay back the loan, the asset might be transferred to the lender. In essence it is the process of securing additional financing making use of the value of what you already own.
For loans of up to $150,000, it is not necessary to secure assets prior to the loan’s access however, we do require an individual guarantee. So long as you comply with your loan commitments (as stipulated in your loan contract document) the security of assets will never be needed. For loans of over $150,000 generally there is an individual ensure and security is provided in the form of the charge of assets.
