The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Looking for more funding? Find out the guidelines for eligibility for our $100K to $500K company loan.
All that’s required for starting is your contact details (the name of your company, your name, email and phone) as well as the amount you’d like to borrow and your monthly earnings.
While in the process and before settlement we will need confirmation of who you are however, not in order to begin:
Additionally after we get started, for loans greater than $150,000 you’ll also need basic 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 are either daily or weekly.
Apply to this Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and have the funds on your account within 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. Our company loan is an upfront priced loan therefore you’ll be aware of the total amount due, which includes any fees, interest or charges. Then, it is broken down into weekly or daily repayment figure.
It is a Small Business Loan can be used for virtually any business use, including the management of cash flow, business renovations, marketing to purchase inventory, new equipment, for general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
A Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
In order to be eligible for a loan of this size the business needs to have been trading for at least 3 years and have an annual turnover of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger company loan can be used to fund almost all business need, including business improvements, purchasing equipment or inventory, as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed for funding of more than $150,000. This is by taking a charge against assets, and could be registered through the PPSR or making as a caveat.
A personal or director’s ensure is a commitment to repay a loan which is generally in nature rather than stipulating security over a particular asset. The person signing the ensure is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It reflects security interests that are registered for personal property (including the assets or goods). The PPSR grants priority over personal property to be granted depending on the date that a security interest that is registered.
The caveat can be described as a formal document that is filed to offer notice of a legal claim on a property.
If you’re seeking larger business loans of more than $250K, we may offer an initial pre-approval in order to simplify the process. We may be able to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves you answering some financial health questions. It is in no way an offer, nor is it a guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you might receive could be based on different conditions.
You are eligible to apply for an business loan if you
The application process is simple and simple. Just complete the online application in just a few minutes, and a dedicated company expert in lending will call you to guide you through the process.
To apply for up $100,000 you’ll require the right identification documents (valid Driver’s License), a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent twelve month bank accounts, the IRD statement, last 2 years finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we can often offer an answer within an hour if you submit your request at standard company timings and permit us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your banking statements , we are able to offer an answer within 1 business day.
For Larger Business Loans ($100K or more) we could be likely to offer you with a conditional pre-approval within 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 circumstances of each application. Certain deals have been approved in 24 hours.
The fastest way for you to apply is make sure you apply during standard business hours. Also, permit us to use the modern bank verification link to verify your bank account information online. If you opt to upload duplicates of your banking accounts, it can take a bit longer.
For the Small Business Loan ($5K or more) we typically offer an answer within an hour – as long as you apply at normal business hours and permit us to use the bank verification system link to immediately verify your bank account information online. If you want to send us copies of your bank statements, we are able to provide an answer within 1 business day.
For the Larger Business Loans ($100K up to $500,000) We may be capable of offer the conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based on the circumstances of each application. Certain deals have been approved within less than 24 hours.
The quickest method is to make sure you apply during standard business hours and permit us to use the modern bank verification link to verify your bank account information online. If you opt to upload copies of your bank accounts, it will take a little longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a certain amount we consider a variety of aspects to determine what is the health for your company and the level of repayments your business can afford. The amount you receive from your loan will be contingent on the specifics that are unique to your company.
When you submit an application for a particular amount, we take into consideration a variety of factors to assess how much we can lend you such as well-being of your company as well as the amount of repayments that your business will be able to support. The amount you receive from your loan will be determined by the specific circumstances the company.
When you request the company loan, we’ll assess the risk assessment that you have for your business and offer an individualised offer including the loan amount, the terms and interest rates. A business loan is an upfront cost loan and you’ll be aware of the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates depend on several factors such as the amount that is borrowed, what business assets the money are used to purchase, the industry the business is in, how long the company has been running and whether the business has sufficient cash flow to fund the loan, and general health or creditworthiness of the business.
There are no hidden costs with our business loans. You’ll be aware of the amount it is that you need to pay, and at what time, from the very first day. There’s no compounding interest, and no extra fees (as as long as you pay your payments in time).
We do not charge an Application Fee. You are able to get a cash loan with no upfront cost or commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay all of your loan early at any time.
If you decide to pursue this option, please contact our helpful company credit professionals. We will offer you with details on repayment and an early payout figure. It will be calculated using the total of the principal amount remaining and accrued interest to the date of early payout in addition to 1.5% of the principal remaining plus any outstanding fees.
To ensure you do not miss payments and to work with your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your company account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as protect your information, is of paramount importance and is a crucial part of our relationship with you.
Yes. We utilise 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 customers and privacy. We make use of an advanced bank verification system that allows you to immediately verify the bank account details online to offer an immediate response.
An asset-based loan is when the company owner makes use of the assets they have to get the funding. The asset may be an individual asset, such as the family home, or a business property like a truck as well as a piece of machine.
The majority of lenders, not just the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan, then your asset may be sold by the lender. In essence it’s means of securing new financing by using the worth of the asset you already have.
For loans of up to $150,000, no asset security is required upfront to access the money However, we do need the personal guarantee. So long as you comply with your loan commitments (as stated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans of over $150,000 typically, you will need personal guarantee and security that is in the form the charge of assets.
