The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Looking for more funding? Take a look at the eligibility requirements for our $100K to $500K business credit.
All that’s needed to begin is your contact details (company name and your name, as well as email and phone), how much you’d like to borrow, and your monthly income.
During the process and before settlement we will need confirmation of your identity but not to get started:
In addition, once we have started in the process, for loans that exceed $150,000, you will also need basic financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
The application to your Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and funds may be in your account within 24 hours. Traditional company loans are based on an interest rate per annum along with other charges and fees. Our business loan is a pre-paid loan therefore you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. This is then broken down into either weekly or daily repayment figure.
A Small Business Loan can be used for virtually every business use, including managing cash flows, business remodeling, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on your situation.
It is important to note that the Larger Business Loan has an Origination Fee, calculated at 2.5% of the loan amount.
To be eligible for a loan that is this large the company needs to be in operation for at least 3 years and generate an annual revenue of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large company loan can be used to fund almost any business reason, such as business renovations, purchase of new equipment or inventory, as general working capital and so much more. The loan cannot be used for personal use.
Asset security is needed to access funding over $150,000. It’s in the form of a charge against assets, and may include the registration of this through the PPSR or making a caveat.
A personal or director’s ensure is a guarantee to repay credit that is general in nature, rather than defining the security of a specific asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including the assets or goods). The PPSR permits priority over personal property to be granted depending on the date that a security interest has been registered.
Caveats are legal form of document to provide the public notice of a legal claim to a property.
If you’re applying for the Larger Business Loan that is greater than $250K, we may offer an initial pre-approval that will help smooth out the process. It is possible to apply for this without credit checks and within six hours of your initial application. The pre-approval is based upon an initial evaluation that involves the answer to a series of financial health questions. This is not an offer or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer that you receive could be on different terms.
You may apply for an company loan if you:
The process for applying is fast and easy. Just fill out the online application within a couple minutes, and a dedicated company lending specialist will call you to guide you.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s Licence) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K – $250K: Information about the 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 twelve month bank accounts, the IRD statement and the last two years’ finalised financial statements, in addition to interim current financial year financials as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically offer an answer within an hour if you apply during quality company timings and allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements , we are able to provide a decision within just one business day.
If you are applying for a Larger Business Loan ($100K to $500K) we could be capable of provide you with pre-approval conditional to your application in around 6 hours. Once you’ve signed the pre-approval document, you will require to wait about 2-3 days for final approval, however it could be faster based on the specifics of each application. Certain transactions have received approval within the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during normal company hours. Also, permit us to use the modern bank verification to instantly check your bank’s information online. If you opt to send us documents from your account accounts, it takes a bit longer.
For the Small Business Loan ($5K and up) we usually provide an answer in just one hour, provided you submit your request at normal business time and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your bank statement, we’ll provide an answer within an business day.
For the Larger Business Loans ($100K or more) We may be likely to provide you with conditional pre-approval in around six hours. Once you’ve signed your pre-approval document, you will require to wait around 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The fastest way is to ensure you apply during standard business hours, and permit us to use the advance bank verification link to confirm your bank details online. If you choose to send us documents from your account statement, it takes a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a certain amount, we take into consideration a range of elements that determine the well-being of your business and the amount of repayments your business is able to afford. The amount you receive from your loan will depend on the particular circumstances for your business.
When you apply for a particular amount, we take into consideration a variety of aspects to determine the health for your business and the extent of the repayments your business can afford. The amount you receive from your loan will depend on the specifics the company.
If you decide to request the company financing, we’ll assess the risk assessment the business and offer you with a customised offer including the amount of loan, the term and the interest rates. This business loan is a loan that is priced upfront and you’ll know the exact amount you will have to pay, including charges or interest.
Interest rates for business loans rates depend on several factors such as the amount that is that is borrowed, what company assets the funds will be used for and the sector the company is in, how long the company has been operating for, whether the company has sufficient cash flow to support the loan, as well as the overall health and creditworthiness of the business.
There aren’t any hidden charges with our company loans. You’ll know exactly how much you be required to pay, and when, starting from the very first day. There’s no compounding interest, and no extra fees (as long as you make your payments punctually).
We don’t charge an application fee. You are able to apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the total amount of your loan at any point in time.
If you are deciding to pursue this option, please talk to one of our helpful company credit specialists. They’ll offer you with details for repayment as well as an early payout amount. This will be calculated as the sum of the principal balance and any accrued interest at the time of early payout and 1.5 percent of the principal balance plus any outstanding fees.
To ensure you do not miss repayments and to fit in with your cash flow routine, we offer repayments that are either weekly or daily. These are automatically withdrawn from your nominated business account.
Making sure that your information is secure, and making it clear how we collect, use, exchange and secure your information, is vital and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We use an advanced bank verification system to instantly verify your bank account information online so we can provide a fast response.
Asset-based borrowing is when a business owner uses an asset they own to get a loan. The asset could be an asset belonging to the personal, like the family home, or it could be a business asset such as a vehicle or piece of equipment.
The vast majority of lending institutions, including the largest banks, are inclined to secure loans against an asset. If you are having difficulty paying back the loan, the asset might be taken over by the lender. In essence, it is an opportunity to secure additional financing taking advantage of the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security in advance to gain access to the funds but we require a personal guarantee. need the personal guarantee. As long as you follow your loan commitments (as stipulated in your loan contract) the security of assets is not required. If you take out loans in excess of $150K generally, there is an individual ensure and security is provided in the form of an asset charge.
