The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K is fairly low.
Looking for more funding? Check out the conditions of eligibility for our $100K to $500K business loans.
All that’s needed to start is your contact details (company name, your name, email and telephone) as well as the amount you’d like to borrow, and your monthly income.
While in the process and before settlement we’ll need confirmation of your identity but not for starting:
After we start with loans that exceed $150,000, you’ll 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 and cash flow-friendly repayments that are either daily or weekly.
You can apply for the Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and the funds could be in your account in 24 hours. Traditional company loans reference an annual rate of interest along with other charges and fees. We offer a company loan is an upfront priced loan and you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. This is then broken down into a daily or weekly payment amount.
It is a Small Business Loan can be used for virtually every company reason, such as managing cash flows, business renovations, marketing for purchasing inventory or new equipment, for general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of for up to 36 months. Repayments are weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
To qualify for a loan in this amount the company needs to have been operating for a minimum of 3 years with an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Larger Business Loan can be used for almost every company use, including business improvements, purchasing equipment or inventory or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s by way of charge over assets and can include the registration of this on the PPSR or filing a caveat.
A director’s or personal ensure is a commitment to pay off a credit line that is general in nature, rather than stating the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be assigned depending on the date that a security interest has been registered.
The caveat can be described as a formal form of document to provide notice of a legal claim to a property.
If you’re applying for a Larger Business Loan of more than $250K we can offer a preliminary pre-approval to help simplify the process. It is possible to apply for this without a credit check and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial well-being checks. This is neither an offer nor a guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer that you are offered could be subject to different terms.
You may be eligible for an company loan if you:
The application process is quick and easy. Just complete the online application in just a few minutes, and a dedicated business lending specialist will call you to guide you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details for application including credit consent as well as 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) we can often offer an answer in just one hour, provided you apply in standard business hours and let us utilise the bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statements , we will be able to offer a decision within just one company day.
For the Larger Business Loan ($100K up to $500,000) we could be capable of provide you with pre-approval conditional to your application in 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 quicker based upon the circumstances for each application. Certain agreements have been approved in just 24 hours.
The quickest method is to make sure you apply during standard company hours. You can also allow us to use the advance bank verification to verify your bank account information online. If you send us the copies of bank accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within one hour if you submit your request within normal business hours and let us use the bank verification system link to instantly verify your bank information online. If you want to send us copies of your bank statements, we are able to offer a decision in as little as one business day.
For Larger Business Loans ($100K up to $500,000) We may be likely to offer the conditional pre-approval in around 6 hours. Once you’ve signed your pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, it could be faster based on the particular circumstances of each application. Some transactions have received approval within less than 24 hours.
The most efficient method is to make sure you apply during normal business hours, and let us use the advance bank verification link to verify your bank information online. If you send us duplicates of your banking accounts, it will take a little longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a specific amount we take into consideration a range of factors that determine the well-being that is your company and the level of repayments your business can support. The amount you receive from your loan will depend on the specifics that are unique to your company.
When you make an application for a specific amount we take into consideration a variety of variables to determine how much we can lend you such as health of your business as well as the amount of payments your company can support. The amount you receive from the loan will be determined by the specific circumstances that are unique to your business.
If you decide to make an application for business loans with us business loans, we’ll assess the risk assessment for your business and provide you with a customised offer that includes loan amount, term and interest rates. The business loan is an upfront priced loan so you will know the exact amount you will have to pay, including charges, interest rates or fees.
Interest rates for company loans rates vary due to variables like the amount to be borrowed, what business assets the funds are used to purchase as well as the field the business is operating in, how long the company has been operating for, how long the company has enough cash flow to pay for the loan, as well as the general well-being or creditworthiness of the business.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you need to pay and when, right from the very first day. There’s no compounding interest, and the loan comes with no additional fees (as as you make your payments in time).
We do not charge an Application Fee. You can request a credit loan without any upfront costs or any obligation to sign up.
The Origination Fee covers the costs associated with the setting up and management of the loan. You are only charged this 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 all of your loan at any point in time.
If you are deciding to take this route, please talk to one of our helpful company loan experts. They will offer you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal amount remaining and any accrued interest at the time of the early payout, plus 1.5% of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing payment dates and to align your cash flow schedule, we provide payments that are either weekly or daily. These are automatically withdrawn from your designated business account.
Protecting your information, and being upfront about how we collect data, process, exchange and ensure the security of your information is crucial and a vital part of our relationship you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to protecting the security of customers and security. We utilise a sophisticated bank verification system to instantly verify the bank account details online, allowing us to provide a fast response.
An asset-based loan is when the business owner uses assets they own to make the funds for a loan. The asset can be either an individual property, such as the family home, or it could be a company asset such as a truck or piece or equipment.
The majority of the lenders including the banks with the biggest size, prefer to make loans secured by assets. If you’re struggling to pay back the loan, your asset may be taken over by the lender. In essence, it’s a way of securing new financing using the value of what you already have.
For loans that exceed $150,000, it is not necessary to secure assets before you are able to access the money However, we require a personal guarantee. require an individual guarantee. If you adhere to the terms of your loan (as stipulated in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans of over $150,000 generally there is an individual ensure and security in the form an asset charge.
