The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Review the guidelines for eligibility for our $100K-$500K business loans.
All that’s required to start is your contact information (the name of your company and your name, as well as email and phone) and the amount you’d like to borrow, and your monthly earnings.
During 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 when it comes to loans greater than $150,000 you’ll also require basic financial statements:
Let’s get started now.
Gold Coast unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months. They also offer cash flow-friendly repayments, which are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an answer within the same day and have the funds available in just 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. Our company loan is a loan that is priced upfront so you will know in advance the total amount payable including the interest, fees and charges. This is then divided into a daily or weekly installment amount.
It is a Small Business Loan can be used for nearly every business use, including control of cash flow company improvements, advertising for purchasing inventory or new equipment, to fund general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
It is important to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large the business needs to have been in operation for at least 3 years with an annual turnover of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A Business Loan of a larger size is a great option for almost every business purpose including business renovations, to purchase equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is needed for funding of more than $150,000. This can be done by way of charge against assets, which could also include the registration of this with the PPSR or registering a caveat.
A director’s or personal ensure is a promise to pay back a loan that is generally based rather than stipulating security over an asset. The person who is signing the ensure is personally accountable if the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR allows prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
Caveats are legal document lodged to provide notice of a legal claim to property.
If you’re seeking the Larger Business Loan that is greater than $250,000 it is possible to offer an initial pre-approval in order to simplify the process. We may be able to apply for this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering some financial health questions. This is in no way an offer, nor is it a guarantee of funds. A conditional approval is subject a full credit assessment and any offer that you are offered could be subject to different terms.
You are eligible to apply for an company loan if you:
The application process is simple and easy. Simply complete the online form within a couple minutes, and a dedicated business lending specialist will be in touch to guide you through the process.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, in addition to interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) we typically offer a response in one hour, provided you make your application at standard company hours and allow us to utilise the bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statement, we’ll provide the decision within 1 company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we might be likely to provide you with pre-approval conditional to your application within about six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some offers have been approved within 24 hours.
The fastest way is to make sure you apply during normal company hours. You can also allow us to use the modern bank verification link to verify your bank information online. If you decide to send us the copies of bank statement, it can take a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within an hour, provided you apply within standard business timings and allow us to use the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statements, we are able to provide a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be capable of provide the conditional pre-approval in about six hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, this can be faster depending upon the circumstances for each application. Some deals have been approved within less than 24 hours.
The fastest method can be make sure you apply during standard business hours and allow us to use our modern bank verification link to instantly check your bank’s information online. If you send us duplicates of your banking statements it may take a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a certain amount we consider a variety of factors in order to assess what is the health that is your company and the level of repayments your business is able to afford. The total amount of your loan will depend on the particular circumstances for your company.
When you apply for a specific amount we will consider a number of variables to assess your health of the business and the amount of repayments that your business can afford. The total amount of your loan will be determined by the specific circumstances of your company.
When you make an application for our business loan, we will assess the risk profile for your company and provide you with a tailored proposal that includes loan amount, term and the interest rates. It is a company loan is an upfront priced loan and you’ll know the exact amount payable including any charges or interest.
The interest rates on business loans rates depend on several factors including the amount borrowed, what company assets the funds are used to purchase, the industry the company operates in, how long the company is in operation for, whether the business has enough cash flow to cover the loan, and general well-being or financial standing of the company.
There aren’t any hidden charges for our company loans, and you’ll know precisely how much you’ll be required to pay and when, from day one. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We don’t charge an Application Fee. You can make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated with setting up and managing the loan. It is only charged for this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay all of your loan at any point in time.
If you choose to pursue this option, please contact our helpful company lending experts. They will provide you with repayment details and an early payment figure. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the date of early payout in addition to 1.5 percent of the principal balance and any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow cycle we provide payments that are either weekly or daily. These are automatically withdrawn from the nominated business account.
Protecting your information, and being clear about how we collect, use, exchange and protect your information, is of huge importance and a vital element of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We use an advanced bank verification system to instantly verify your bank account details online. This allows us to provide an immediate response.
Asset-based borrowing occurs when the company owner utilises the assets they have to obtain the funding. The asset could be an asset belonging to the personal, like the family home or a business asset such as a truck or piece or equipment.
The vast majority of the lenders not just the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, your asset may be offered for sale by the lender. In essence, it’s an opportunity to secure additional financing taking advantage of the value of what you already own.
For loans up to $150,000 the requirement for asset security is not required upfront to access the money However, we do require the personal guarantee. If you adhere to your loan commitments (as stipulated in your loan contract document) the security of assets is not required. For loans over $150K generally there is the option of a personal ensure and security is provided in the form of charges on assets.
