The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Do you need more money? Take a look at the conditions of eligibility for our $100K-$500K company credit.
All that is needed to begin is your contact details (company name, your name, email and telephone) along with the amount you want to borrow, and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are, but not for starting:
In addition, once we have started with loans of more than $150,000 you’ll also require the following financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
It is imaginable to apply to get the Small Business Loan in under 10 minutes via the internet or by phone. You will receive a same day response and have the funds in your account in 24 hours. Traditional company loans have an annual rate of interest plus other fees and charges. The company loan is a pre-paid loan therefore you’ll know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into either weekly or daily repayment figure.
It is a Small Business Loan can be used for nearly every business reason, such as control of cash flow company remodels and marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
A Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
To be eligible for a loan of this size, your company needs to be operating for at least three years with an annual turnover of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large business loan can be used for almost every company purpose including company remodeling, buying equipment or inventory or as general working capital and so much more. The loan is not available for personal use.
Asset security is required for funding of more than $150,000. This can be done by taking a charge against assets and can include registering this through the PPSR or making a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature, rather than stating the security for a particular asset. The person signing the ensure is personally responsible if the company lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR gives prioritisation over property that is personal to be assigned depending on the date that a security interest has been registered.
Caveats are legal document filed to provide the public notice of a legal claim on a property.
If you’re applying for larger company loans of more than $250K, we may offer an initial pre-approval in order to ease the process. We could be able to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering some financial health checks. This is not an offer or guarantee of credit. Unconditional approval is subject to an extensive credit evaluation and any offer that you may receive may have different conditions.
You are eligible to apply for an business loan if you:
The application process is simple and easy. Simply complete the online form within a couple minutes, and an experienced company loan specialist will call you to guide you through the process.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
For larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Application details including credit consent and 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim financials for the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically provide a response in one hour – as long as you submit your request within quality company times and you allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements , we’ll be able to offer the decision in just an company day.
For Larger Business Loans ($100K and up) we might be likely to offer you with conditional pre-approval in about six hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some transactions have received approval in less than 24 hours.
The fastest way would be to make sure you apply during normal company hours and permit us to use the advance bank verification to check your bank’s information online. If you choose to upload copies of your bank accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within an hour – provided you make your application in standard business timings and allow us to use the bank verification system to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can provide an answer within one business day.
For Larger Business Loans ($100K or more) we could be in a position to offer you with pre-approval conditional to your application within about 6 hours. Once you have signed the pre-approval document, you will require to wait about 2-3 days for final approval. However, this can be faster depending on the circumstances of each application. Some offers have been approved in 24 hours.
The quickest method is to make sure you apply during standard business hours. Also, allow us to use the advance bank verification link to instantly confirm your bank details online. If you decide to send us copies of your bank statements it will take a little longer.
We offer loans ranging from $5,000 and $500,000. When you submit an application for a certain amount, we take into consideration a range of factors in order to assess what is the health of the business as well as the amount of repayments that your business is able to afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your business.
When you submit an application for a particular amount, we take into consideration a variety of elements to determine the well-being for your company and the amount of repayments your business can support. The amount you receive from the loan will be determined by the particulars that are unique to your company.
If you decide to request the business loans, we’ll assess the risk profile of your business and provide you with a tailored offer, including loan amount, term and interest rates. A company loan is an upfront-priced loan which means you know the exact amount payable including any costs, fees, or interest rates.
The interest rates on company loans rates differ based on various factors like the amount of money borrowed, the business assets the money will be used for, the industry the business is in, how long the company has been running, whether the business has enough cash flow to support the loan, as well as the overall health or creditworthiness of the business.
There aren’t any hidden charges for our company loans, and you’ll know exactly how much you’ll need to pay and when, starting from the day you sign up. 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 can apply for a loan with with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the loan amount.
You can choose to repay the entire amount of the loan early at any time.
If you decide to do this please call our helpful business lending professionals. They’ll offer you with repayment details and an early payment figure. This is calculated as the sum of the principal amount remaining plus any accrued interest as of the time of early payment, plus 1.5% of the principal amount remaining and any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from your nominated company account.
Protecting your information, and being clear about the ways we gather data, process, exchange and protect your information, is of paramount importance and a vital part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to security for our customers and privacy. We make use of an advanced bank verification system that allows you to instantly verify your bank account details online to offer an immediate response.
Asset-based borrowing occurs when a company owner utilises an asset that they own to get the funds for a loan. The asset may be an individual asset, such as the family home or it could be a company property like a truck or piece or equipment.
The vast majority of the lenders even the major banks, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan then the asset could be offered for sale by the lender. In essence, it’s means of securing new funding taking advantage of the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security in advance to gain access to the funds but we do require an individual guarantee. In the event that you fulfill your loan commitments (as stated in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans of over $150K generally, there is the option of a personal guarantee and security is provided in the form of the charge of assets.
