The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the eligibility requirements for our $100K-$500K business loan.
All that’s needed to start is your contact information (company name, your name, email address, phone) and the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will require confirmation of who you are, but not to get started:
Once we’ve started, for loans that exceed $150,000, you’ll need basic financial statements.
Let’s get started now.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000, with terms ranging 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 on the phone. You’ll receive an answer within the same day and the funds could be on your account within 24 hours. Traditional business loans have an annual interest rate as well as other fees and charges. We offer a business loan is a loan that is priced upfront so you will know in advance the total amount to be paid, including any interest, fees or charges. This is then divided into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for nearly every company use, including the management of cash flow, company renovations, marketing to purchase inventory or new equipment, for general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. Repayments are weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the loan amount.
To qualify for a loan that is this large the business needs to be in operation for at least 3 years with an annual turnover of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A large business loan can be used for nearly all business reason, such as business remodeling, buying inventory or new equipment as well as for general working capital and much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. This can be done by way of charge against assets, and could be registered through the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is general in nature, rather than stating security over an asset. The person signing the guarantee is personally liable in the event that the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be granted according to the date the security interest was registered.
Caveats are legal document that is filed to provide an official notice of a claim to property.
If you’re requesting a Larger Business Loan of $250K or more, we may offer an initial pre-approval to make the process. We might be able to get this done without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves the answer to a series of financial well-being checks. It is neither an offer nor a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer 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. Complete the online form in just a few minutes, and a dedicated business loan specialist will contact you to help you.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s License) along with a valid NZBN/IRD as well as at least six months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within an hour, provided you apply in standard company times and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your bank statements we can offer a decision within just an company day.
If you are applying for a Larger Business Loan ($100K and up) we may be able to offer you with a conditional pre-approval within six hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Some offers have been approved in 24 hours.
The quickest method would be to ensure you apply during normal business hours. You can also permit us to use the advance bank verification link to instantly check your bank’s information online. If you decide to send us duplicates of your banking statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we typically offer a response in one hour – as long as you submit your request within standard business timings and let us use the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your banking statements, we are able to offer a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be in a position to provide you with conditional pre-approval within about six hours. Once you’ve 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. Certain offers have been approved within the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours. You can also permit us to use the advance bank verification link to check your bank’s information online. If you choose to send us the copies of bank statement, it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we look at a variety of factors to determine what is the well-being of your company and the level of the repayments your business can afford. The amount you receive from your loan will depend on the specifics of your business.
When you submit an application for a particular amount, we will consider a number of variables to assess your health of the business as well as the amount of repayments your company will be able to support. The total amount of the loan will be determined by the particular circumstances of your company.
If you decide to request the business loan, we will assess the risk assessment that you have for your company and provide you with a customised offer, including the loan amount, the terms and interest rates. This business loan is an upfront cost loan therefore you will know in advance the total amount you will have to pay, including charges or interest.
Business loan interest rates differ based on various factors like the amount of money borrowed, what company assets the money will be used for in addition to the industry that the business is operating in, how long the company is in operation and how long the business has enough cash flow to cover the loan, and general well-being and creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll know precisely what you’ll need to pay and when, right from day one. There’s no compounding interest, and no extra fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You are able to apply for a loan with without any upfront costs or commitment to apply.
The Origination Fee is the cost associated with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You can choose to repay all of your loan at any point in time.
If you choose to do this please talk to one of our helpful company loan experts. They will provide you with details for repayment and an early payment figure. It will be calculated using the sum of the principal balance and the accrued interest up to the date of early payout in addition to 1.5 percent of the principal balance as well as any outstanding fees.
In order to help you avoid missing payments and to work your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from your designated business account.
Protecting your information, and knowing the ways we gather, use, exchange and safeguard your data, is of paramount importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We make use of an advanced bank verification system link to immediately verify the bank account details online so we can offer a fast response.
Asset-based borrowing is when a company owner makes use of the assets they have to obtain the funding. The asset can be either an individual asset, such as the family home, or a business asset like a truck as well as a piece of machine.
The majority of lenders, including the largest banks, are inclined to make loans secured by an asset. If you have trouble paying back the loan then your assets could be offered for sale by the lender. In essence, it is a way of securing new funding using the worth of the asset you already own.
For loans up to $150,000 the requirement for asset security is not required in advance to gain access to the funds, however we do need the personal guarantee. So long as you comply with the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security will never be required. If you take out loans in excess of $150K typically, you will need the option of a personal guarantee and security in the form of charges on assets.
