The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K to $500K company loans.
All that’s needed to start is your contact details (company name and your name, as well as email, phone), how much you want to borrow, as well as your monthly income.
In the course of the process and before settlement we will need confirmation of your identity, but not for starting:
After we start, for loans of more than $150,000 you’ll require basic financial statements.
Let’s get started.
Brisbane unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
You can apply for the Small Business Loan in under 10 minutes by phone. You will receive an instant response and the funds could be available in just 24 hours. Traditional company loans are based on an annual interest rate as well as other fees and charges. This business loan is a cash-based loan so you will be aware in advance of the total amount payable including any interest, fees or charges. This is then broken down into either weekly or daily amount to be paid back.
It is a Small Business Loan can be used for almost any company reason, such as the management of cash flow, company remodeling, marketing to purchase inventory, new equipment, or as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a loan in this amount, your business needs to be operating for at least three years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Larger Business Loan can be used for nearly any company purpose including company renovations, purchase of equipment or inventory as well as for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This is in the form of a charge over assets, which could also be registered in the PPSR or filing a caveat.
A personal or director’s ensure is a guarantee to repay credit that is general in nature, rather than stipulating security over an asset. The person signing the guarantee is personally liable in the event that the business 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 lists security interests that are which are registered with respect to personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a security interest has been registered.
Caveats are legal form of document to offer notice of a legal claim to a property.
If you’re applying for larger business loans of more than $250,000, we may offer an initial pre-approval that will help smooth out the process. We might be able to apply for this without a credit verification and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves you answering a few financial health questions. This is neither an offer nor a guarantee of financing. A conditional approval is subject an assessment of your creditworthiness and any offer that you receive could have different terms.
You are eligible to apply for an business loan if you
The process for applying is fast and simple. Simply complete the online form within a couple minutes, and an experienced business credit specialist will call you to guide you.
To apply for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) and an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K-$250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent and 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K and up) we usually provide an answer in just one hour – as long as you submit your request during quality business hours and you allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statements , we are able to provide the decision within one business day.
For the Larger Business Loan ($100K to $500K) we may be likely to provide the conditional pre-approval in about six hours. After you’ve 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 deals have been approved in just 24 hours.
The quickest method for you to apply is make sure you apply during normal company hours. You can also allow us to use the advanced bank verification system to confirm your bank details online. If you opt to upload duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer in just one hour, provided you submit your request at standard business timings and let us use the bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statement, we’ll offer a decision in just one business day.
For the Larger Business Loans ($100K or more) we might be able to provide you with a conditional pre-approval in about six hours. Once you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based upon the circumstances for each application. Some deals have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours, and let us use the sophisticated bank verification link to instantly confirm your bank details online. If you opt to send us the copies of bank statements it may take a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a certain amount, we look at a variety of variables in order to assess the health of your company and the level of repayments that your business is able to afford. The amount you receive from the loan will be determined by the specifics of your company.
When you apply for a set amount, we take into consideration a variety of elements to assess your health of the business and the extent of repayments that your business can afford. The total amount of the loan will be determined by the specific circumstances of your business.
When you make an application for business loans with us business loans, we will assess the risk profile the business and offer an individualised offer, including the amount of loan, the term and interest rates. The company loan is a loan that is priced upfront therefore you will be aware of the total amount to be paid, including any charges, interest rates or fees.
Business loan interest rates differ based on various variables like the amount to be of money borrowed, the business assets the funds will be used for, the industry the business is operating in, how long the business has been operating for, whether the company has sufficient cash flow to fund the loan, and also the general well-being or financial standing of the company.
There are no hidden fees with our business loans, and you’ll know precisely how much you’ll need to pay, and when, starting from day one. There’s no compounding interest and no extra fees (as as you make your payments punctually).
We don’t charge an application fee. You are able to request a credit loan with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You may choose to pay back the entire amount of your loan in full at any time.
If you do decide to take this route, please contact our helpful business credit experts. They’ll provide you with repayment details and an early payout figure. It will be calculated using the sum of the remaining principal amount and accrued interest to the date of early payout in addition to 1.5% of the principal remaining and any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow cycle we offer repayments that are either daily or weekly. They are automatically deducted from your designated company account.
The security of your personal information, as well as knowing how we collect the information we collect, use, share and secure your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We utilise a sophisticated bank verification system link to instantly confirm your bank account information online so we can offer quick responses.
The term "asset-based" refers to borrowing where an business owner utilises an asset they own to get the funding. The asset may be an asset belonging to the personal, like the family home or it could be a business asset such as a vehicle as well as a piece of machine.
The majority of the lenders not just the big banks, tend to make loans secured by an asset. If you are having difficulty paying back the loan then the asset could be transferred to the lender. In essence it’s the process of securing new financing using the worth of the asset you already have.
Up to $150K in loans there is no requirement for asset security prior to the loan’s access, however we do require an individual guarantee. As long as you follow your loan obligations (as detailed in your loan contract) Asset security will never be needed. For loans over $150,000 generally, there is the option of a personal guarantee and security is provided in the form of an asset charge.
