The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K business financing.
All that’s needed to begin is your contact details (company name, your name, email address and phone), how much you want to borrow, and your monthly income.
While in the process and before settlement we will need confirmation of who you are but not to get started:
Once we’ve started, for loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started now.
Gold Coast unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and have the funds in your account within 24 hours. Traditional business loans are based on an annual rate of interest as well as other fees and charges. The company loan is a loan that is priced upfront therefore you’ll be aware in advance of the total amount to be paid, including any fees, interest or charges. Then, it is divided into a daily or weekly payment amount.
A Small Business Loan can be used for nearly every company purpose including the management of cash flow, company renovations, marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are either weekly or fortnightly to work with your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan in this amount, your company needs to be operating for at least three years with an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A larger company loan can be used for almost every business use, including business renovations, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal use.
Asset security is required for funding of more than $150,000. This is as a result of an charge on assets, and may include registration on the PPSR or the registration of a caveat.
A personal or director’s ensure is a commitment to pay back a loan that is general in nature, rather than stating security over a particular asset. The person signing the ensure is personally accountable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR allows the priority of personal property granted in accordance with the date on which a security interest was registered.
An affidavit is an official document filed to provide the public notice of a legal claim against a property.
If you’re requesting a Larger Business Loan that is greater than $250K we can offer an initial pre-approval to smooth out the process. We could be able to apply for this without a credit verification and within 6 hours of the initial application. The pre-approval is based upon an initial assessment that includes the answer to a series of financial health questions. It’s not an offer of credit or guarantee of funds. A conditional approval is subject an extensive credit evaluation and any offer you are offered could be on different conditions.
You are eligible to apply for an company loan if you:
The application process is simple and easy. Complete the online form within a few minutes and an experienced company lending specialist will contact you to guide you through the process.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) we usually offer an answer within an hour if you make your application at standard company times and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to submit copies of your bank statement, we’ll provide a decision within one company day.
For the Larger Business Loan ($100K to $500K) we may be in a position to offer the conditional pre-approval within 6 hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some agreements have been approved in less than 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours, and allow us to use the advanced bank verification system to instantly verify your bank account information online. If you decide to upload documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer within an hour – as long as you submit your request in normal business time and allow us to use the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to provide the decision in as little as an business day.
If you are applying for Larger Business Loans ($100K or more) we may be in a position to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Some transactions have received approval within less than 24 hours.
The most effective method is to ensure you apply during normal business hours, and allow us to use the advance bank verification link to verify your bank account information online. If you opt to upload the copies of bank statements it will take a little longer.
We offer loans ranging from $5,000 and $500,000. If you apply for a certain amount we look at a variety of factors that determine how much we can lend you well-being of the company and the extent of repayments that your company can afford. The amount you receive from your loan will depend on the specific circumstances that are unique to your company.
If you apply for a set amount, we look at a range of elements to determine the health of your business and the amount of repayments that your company will be able to support. The amount you receive from your loan will be determined by the specific circumstances that are unique to your company.
When you request our company loan, we’ll assess the risk profile that you have for your company and provide you with a customised offer, including the amount of loan, the term and interest rates. The company loan is an upfront priced loan therefore you will be aware of the total amount you will have to pay, including costs, fees, or interest rates.
Business loan interest rates differ based on various factors including the amount of money borrowed, the company assets the money are used to purchase as well as the field the business operates in, the long the company has been running and how long the business has sufficient cash flow to support the loan, and the overall well-being and creditworthiness of the business.
There are no hidden costs with our company loans. You’ll know precisely how much you be required to pay and when, starting from day one. There’s no compounding interest and the loan comes with no additional fees (as as long as you pay your payments in time).
We do not charge an Application Fee. You can request a credit loan with no cost upfront or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You may choose to pay back the total amount of your loan at any point in time.
If you decide to pursue this option, please talk to one of our helpful business loan experts. The experts will offer you with the details of your repayment as well as an early payout amount. The figure will be calculated as the sum of the principal amount remaining and accrued interest to the time of early payment, plus 1.5% of the principal amount remaining and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your nominated business account.
Protecting your information, and knowing the ways we gather data, process, exchange and safeguard your data, is crucial and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their security. We utilise a sophisticated bank verification system that allows you to immediately verify the bank account details online. This allows us to offer an immediate response.
Asset-based borrowing occurs when a business owner uses an asset they own to get the loan. The asset may be an individual asset, such as the family home, or a business asset such as a truck or piece or equipment.
The vast majority of the lenders including the banks with the biggest size, prefer to make loans secured by an asset. If you have trouble paying back the loan, then the asset could be transferred to the lender. In essence, it is a way of securing additional financing using the worth of the asset you already have.
For loans of up to $150K, the requirement for asset security is not required prior to the loan’s access but we do need a personal guarantee. So long as you comply with your loan obligations (as stated in your loan contract) Asset security is not needed. For loans that exceed $150,000, generally there is the option of a personal guarantee and security in the form of charges on assets.
