The requirements for getting an unsecured business loan in Brisbane of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K to $500K company loan.
All that’s required to start is your contact details (the name of your company, your name, email or phone number) and the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we’ll require confirmation of your identity but not before we can begin:
Additionally after we get started with loans greater than $150,000 you’ll also require the following financial statements:
Let’s get started now.
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.
Apply for your Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and the money could be on your account within 24 hours. Traditional company loans reference an annual rate of interest along with other charges and fees. Our business loan is an upfront priced loan and you’ll know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into a daily or weekly repayment figure.
A Small Business Loan can be used for virtually every company use, including managing cash flows, company remodeling, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
A Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To be eligible for a credit that is this large, your business needs to have been trading for at least 3 years and have an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A larger business loan can be used for almost every company use, including company renovations, purchase of new equipment or inventory as well as for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This is by taking a charge over assets, which could also include registration through the PPSR or registering as a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is general in nature, rather than defining the security for a particular asset. The person who signs the guarantee is personally accountable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It records security interests that have been registered in respect of personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned depending on the date that a security interest was registered.
A caveat is a legal document filed to provide an official notice of a claim to a property.
If you’re requesting an enterprise loan that exceeds $250K we may be able to provide an initial pre-approval to smooth out the process. We might be able to get this done without credit checks and within 6 hours of the initial application. This pre-approval is made based on an initial evaluation that involves answering a couple of financial well-being checks. It’s in no way an offer, nor is it a guarantee of finance. The approval of a conditional loan is subject to a full credit assessment and any offer you may receive may have different conditions.
You may apply for a business loan if you;
The application process is fast and easy. Just complete the online application in just a few minutes, and an experienced company loan specialist will contact you to help you.
To apply for up to $100,000, you’ll need the right identification documents (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K – $500K: Details of the application, including credit consent, 12 months of bank statements, IRD statements and the last two years’ finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K and up) we typically offer an answer within one hour if you make your application during standard business times and allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you choose to submit copies of your bank statements , we are able to provide a decision within the span of one business day.
For Larger Business Loans ($100K to $500K) we may be able to provide you with conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are between 2 and 3 days for the final approval, however this could be shorter based on the specifics of each application. Some transactions have received approval in 24 hours.
The quickest way to apply would be to make sure you apply during normal business hours and let us use the advance bank verification to verify your bank account information online. If you choose to send us documents from your account accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within one hour if you make your application during standard business time and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statement, we’ll offer a decision within 1 business day.
If you are applying for Larger Business Loans ($100K or more) we might be likely to provide the conditional pre-approval within 6 hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain offers have been approved within 24 hours.
The most effective method for you to apply is make sure you apply during standard business hours and let us use the advanced bank verification system to instantly check your bank’s information online. If you choose to send us the copies of bank statement, it can 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 take into consideration a range of aspects to determine what is the well-being of your company and the level of repayments your business can afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your business.
When you make an application for a set amount, we look at a range of variables to determine your health that is your business and the extent of repayments your company can support. The total amount of the loan will be determined by the particulars of your business.
When you make an application for our company financing, we will assess the risk profile of your business and offer an individualised proposal that includes the amount of the loan, the duration and interest rates. It is a company loan is an upfront-priced loan which means you know in advance the total amount to be paid, including any charges, interest rates or fees.
The interest rates on company loans rates vary due to variables like the amount to be of money borrowed, the business assets the funds are used to purchase in addition to the industry that the business operates in, how long the company is in operation, whether the company has sufficient cash flow to pay for the loan, as well as the overall well-being and creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll know precisely how much you’ll need to pay and when, from the day you sign up. There’s not any compounding interest and no extra fees (as as long as you pay your payments on time).
We do not charge an Application Fee. You can make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You may choose to pay back the entire amount of your loan at any point in time.
If you choose to pursue this option, please talk to one of our helpful business credit specialists. They will provide you with repayment details and an early payment figure. This is calculated as the total of the principal remaining and the accrued interest up to the time of early payment plus 1.5 percent of the principal remaining and any fees that remain unpaid.
To help you avoid missing payments and to work with your cash flow routine, we provide payments that are either daily or weekly. They are automatically deducted from the nominated company account.
The security of your personal information, as well as being clear about the ways we gather the information we collect, use, share and secure your information, is crucial and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to the security of our customers as well as their security. We make use of an advanced bank verification system that allows you to immediately verify your bank account details online to offer an immediate response.
Asset-based borrowing occurs when the company owner utilises an asset that they own to make the loan. The asset could be a personal asset like the family home or an business property like a truck or piece of equipment.
The vast majority of lenders, not just the major banks, prefer to secure loans against assets. If you’re having trouble paying back the loan then the asset might be offered for sale by the lender. In essence it’s the process of securing new funding using the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets prior to the loan’s access However, we do need an individual guarantee. So long as you comply with your loan obligations (as specified in your loan contract document) Asset security is not needed. For loans over $150,000 typically, you will need an individual guarantee and security in the form an asset charge.
