The eligibility requirements for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K business loan.
All that’s required to start is your contact information (the name of your company, your name, email, phone), how much you’d like to lend, and your monthly revenue.
While in the process and before settlement we’ll need confirmation of who you are, however, not in order to begin:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll need the following financial statements:
Let’s get started.
Gold Coast unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
The application to your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and have the funds available in just 24 hours. Traditional company loans have an interest rate per annum along with other charges and fees. The business loan is a loan that is priced upfront which means you be aware in advance of the total amount to be paid, including the interest, fees and charges. Then, it is divided into a daily or weekly installment amount.
A Small Business Loan can be used for almost every company purpose including the management of cash flow, company remodeling, marketing to purchase inventory, new equipment, as general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To be eligible for a loan that is this large the business needs to have been trading for at least 3 years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used to fund almost any company reason, such as business improvements, purchasing new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is needed to access funding over $150,000. It is usually as a result of an charge against assets and can include the registration of this through the PPSR or the registration of as a caveat.
A personal or director’s ensure is a promise to repay credit that is general in nature rather than stating security over an asset. The person who is signing the ensure is personally liable if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR permits priority over personal property to be assigned depending on the date that a security interest that is registered.
Caveats are legal document lodged to offer notice of a legal claim to property.
When you’re applying for an enterprise loan of $250K or more it’s possible to offer an initial pre-approval in order to simplify the process. It is possible to do this without a credit verification and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial health checks. It is neither an offer nor a guarantee of finance. The approval of a conditional loan is subject to a full credit assessment and any offer you might receive could be on different conditions.
You can apply for an company loan if you:
The application process is quick and simple. Just complete the online application within a few minutes and an experienced business credit specialist will contact you to help you.
To apply for up $100,000 you’ll require identification details (valid Driver’s License), a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent, 12 months of bank records, 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 offer a response in one hour – as long as you make your application within standard company time and allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can offer an answer in just one company day.
For the Larger Business Loan ($100K and up) we may be able to provide you with a conditional pre-approval within 6 hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this could be shorter based upon the circumstances for each application. Some deals have been approved in less than 24 hours.
The fastest way for you to apply is ensure you apply during normal business hours. Also, permit us to use the advance bank verification to verify your bank information online. If you upload the copies of bank statements it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually offer a response in one hour – provided you make your application during normal business times and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your bank statement, we’ll provide the decision within one business day.
For the Larger Business Loans ($100K or more) we could be in a position to offer you with pre-approval conditional to your application within 6 hours. Once you’ve signed your 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 agreements have been approved within 24 hours.
The fastest method would be to make sure you apply during normal business hours. Also, allow us to use our advance bank verification link to confirm your bank details online. If you choose to send us documents from your account statement, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a certain amount, we take into consideration a range of aspects that determine what is the well-being for your company as well as the amount of payments your company can afford. The amount you receive from your loan will depend on the specifics the business.
When you submit an application for a certain amount, we will consider a number of aspects to determine your health that is your company and the amount of repayments your company is able to afford. The total amount of your loan will depend on the particulars of your company.
If you decide to make an application for one of our business credit, we’ll assess the risk profile of your company and offer you with a customised offer that includes the loan amount, the terms and interest rates. It is a business loan is an upfront cost loan so you will be aware of the total amount payable including any interest rates, fees or charges.
Interest rates for business loans rates differ based on various variables like the amount to be that is borrowed, what business assets the funds are used to purchase as well as the field the business operates in, the long the business has been running, in the event that the company has sufficient cash flow to support the loan, and the general health or creditworthiness of the business.
There aren’t any hidden costs for our company loans. You’ll know precisely how much you’ll be required to pay, and when, starting from the first day. There’s no compounding interest, and no extra fees (as as long as you pay your payments on time).
We don’t charge an Application Fee. You are able to make an application for loans with with no upfront cost or the obligation to take action.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You may choose to pay back all of your loan at any point in time.
If you decide to take this route, please contact our helpful business loan experts. They’ll provide you with details on repayment and an early payment figure. This will be calculated as the sum of the principal amount remaining and accrued interest to the time of early payout, plus 1.5 percent of the remaining principal plus any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated company account.
Making sure that your information is secure, and being clear about how we collect, use, exchange and safeguard your data, is crucial and is an essential element of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our commitment to customer security and privacy. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify the bank account details online to provide rapid response.
Asset-based borrowing is when an company owner borrows from assets they own to get the loan. The asset can be either a personal asset like the family home or a business asset like a truck or other piece of machinery.
The vast majority of the lenders including the big banks, tend to guarantee loans against assets. If you’re struggling to pay back the loan, the asset could be offered for sale by the lender. In essence, it’s means of securing new funding making use of the value of what you already have.
Up to $150K in loans no asset security is required upfront to access the money however, we do require the personal guarantee. So long as you comply with your loan obligations (as specified in the loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150K generally, there is the option of a personal guarantee and security in the form an asset charge.
