The criteria for eligibility for an unsecured business loan in Brisbane of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the eligibility requirements for our $100K to $500K business credit.
All that’s required to begin is your contact information (company name, your name, email address or phone number) and the amount you want to borrow, and your monthly income.
While in the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started with loans that exceed $150,000, you’ll also require basic financial statements:
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Brisbane unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and the funds could be in your account in 24 hours. Traditional company loans have an annual interest rate plus other fees and charges. This business loan is an upfront priced loan and you’ll be aware of the total amount to be paid, including the interest, fees and charges. This is then broken down into either a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually every business need, such as control of cash flow business improvements, advertising for purchasing inventory or new equipment, or as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly, depending on your situation.
The Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan of this size the company needs to be in operation for at least 3 years, and have an annual income of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Larger Business Loan can be used for almost all company purpose including company renovations, purchase of new equipment or inventory for general working capital and much more. The loan cannot be used for personal use.
Asset security is needed to obtain funding above $150,000. This can be done by taking a charge against assets, which could also include registering this through the PPSR or registering a caveat.
A director’s or personal ensure is a guarantee to pay off a credit line that is generally based rather than defining security over an asset. The person signing the guarantee is personally accountable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including the assets or goods). The PPSR grants the priority of personal property granted according to the date a registration of a security interest.
Caveats are legal document filed to provide the legal claim to a property.
If you’re seeking larger business loans of $250K or more, we may offer an initial pre-approval in order to make the process. We may be able to make this decision without credit checks and within 6 hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health checks. It’s not an offer or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer you receive could have different terms.
You can apply for a business loan if you
The process for applying is fast and easy. Complete the online form in just a few minutes, and a dedicated business loan specialist will be in touch to guide you through the process.
To be eligible for up to $100,000, you’ll require ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K – $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Information on the application including credit consent as well as 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K or more) we can often provide a response in one hour – as long as you make your application in standard business time and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements we can provide the decision in just an company day.
For the Larger Business Loan ($100K to $500K) we may be able to offer you with 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 may be quicker depending upon the circumstances for each application. Some agreements have been approved in the space of 24 hours.
The quickest way to apply would be to make sure you apply during normal company hours. You can also allow us to use the modern bank verification to verify your bank information online. If you send us the copies of bank statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within an hour – as long as you submit your request at standard business hours and allow us to use the 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 an answer in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be able to provide you with pre-approval conditional to your application within 6 hours. Once you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain offers have been approved within the space of 24 hours.
The quickest method would be to make sure you apply during normal business hours and let us use the sophisticated bank verification to confirm your bank details online. If you send us the copies of bank accounts, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. When you make an application for a certain amount we look at a variety of elements for determining the health for your company and the amount of payments your business can support. The amount you receive from the loan will be determined by the specifics that are unique to your company.
When you submit an application for a specific amount we consider a variety of variables to assess your health that is your company and the amount of repayments your company can support. The total amount of your loan will be contingent on the particulars of your business.
If you decide to apply for business loans with us company loan, we’ll assess the risk profile that you have for your business and offer an individualised offer that includes loan amount, term and interest rates. It is a company loan is a loan that is priced upfront which means you know the exact amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates vary due to factors such as the amount that is borrowed, what company assets the money will be used for and the sector the company operates in, how long the business has been running, whether the company has sufficient cash flow to cover the loan, and also the general well-being and creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know precisely what 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 you make your payments punctually).
We do not charge an application fee. You are able to get a cash loan 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. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can repay the entire amount of the loan in full at any time.
If you choose to do this please talk to one of our helpful company loans professionals. The experts will provide you with repayment details along with an early payout estimate. This will be calculated as the total of the remaining principal amount plus any accrued interest as of the date of early payout, plus 1.5 percent of the principal amount remaining and any outstanding fees.
To ensure you do not miss payment dates and to align with your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your nominated business account.
The security of your personal information, as well as knowing the ways we gather data, process, exchange and safeguard your data, is of paramount importance and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We make use of an advanced banking verification system to immediately verify your bank account information online so we can offer a fast response.
Asset-based borrowing occurs when a business owner utilises an asset they own to get the funds for a loan. The asset can be a personal asset like the family home, or a company asset such as a vehicle or piece of equipment.
The majority of lending institutions, including the banks with the biggest size, prefer to secure loans against an asset. If you’re struggling to pay back the loan then your assets could be taken over by the lender. In essence it’s the process of securing new financing taking advantage of the value of what you already own.
Up to $150K in loans the requirement for asset security is not required upfront to access the money, however we require a personal guarantee. require an individual guarantee. If you adhere to the loan terms (as specified in your loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150K generally, you can get an individual ensure and security in the form an asset charge.
