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? Review the guidelines for eligibility for our $100K-$500K business financing.
All that’s required to get started is your contact details (company name, your name, email address and phone) along with the amount you’d like to borrow and your monthly revenue.
In the course of the process and before settlement we will need confirmation of who you are, however, not in order to begin:
In addition, once we have started with loans greater than $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments that are either per day or weekly.
Apply to get the Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and have the funds in your account within 24 hours. Traditional company loans reference an annual interest rate as well as other fees and charges. This company loan is a cash-based loan therefore you’ll be aware in advance of the total amount payable including any fees, interest or charges. This is then broken down into either a daily or weekly amount to be paid back.
It is a Small Business Loan can be used for virtually every business use, including the management of cash flow, company remodeling, marketing for purchasing inventory or new equipment, as 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 company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
A Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan of this size, your company needs to be operating for at least three years and generate an annual revenue of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A large business loan can be used for almost any company reason, such as company improvements, purchasing new equipment or inventory or as general working capital, and much more. The loan is not available for personal reasons.
Asset security is needed for accessing funds over $150,000. It is usually as a result of an charge over assets and can include registering this in the PPSR or the registration of a caveat.
A personal or director’s ensure is a commitment to repay a loan which is generally based rather than stating the security for a particular asset. The person signing the ensure is personally responsible if the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including objects or assets). The PPSR gives priority over personal property to be granted in accordance with the date on which a security interest has been registered.
An affidavit is an official document that is filed to provide an official notice of a claim to property.
If you’re requesting a Larger Business Loan of $250K or more, we may offer an initial pre-approval in order to ease the process. It is possible to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial health checks. This is not an offer of credit or guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer you might receive could be on different conditions.
You may be eligible for a company loan if you
The application process is simple and simple. Just fill out the online application in just a few minutes, and an experienced company lending specialist will contact you to help you.
For a loan of up to $100,000, you’ll need proof of identity (valid Driver’s License), an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Application details including credit consent twelve months of bank statements, IRD statements, last 2 years finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K or more) we can often offer a response in one hour if you apply in quality business hours and allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statements we can provide a decision in as little as one company day.
If you are applying for a Larger Business Loan ($100K and up) we could be able to offer you with a conditional pre-approval within six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some offers have been approved within the space of 24 hours.
The fastest way is to make sure you apply during standard business hours, and allow us to use our advance bank verification to instantly verify your bank account information online. If you choose to send us documents from your account statement, it may take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer in just one hour – as long as you apply during standard business timings and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements, we are able to offer an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be capable of offer you with conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain transactions have received approval in just 24 hours.
The most effective method would be to ensure you apply during normal business hours, and allow us to use the advance bank verification link to instantly verify your bank account information online. If you send us duplicates of your banking statement, it can take a bit longer.
We provide the loan amount between $5,000 and $500,000. If you apply for a certain amount, we will consider a number of elements for determining the health that is your company and the extent of repayments your company is able to afford. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
When you submit an application for a set amount, we take into consideration a variety of elements to assess how much we can lend you such as well-being of your business and the level of repayments your business can afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your business.
When you request our business loans, we’ll assess the risk profile of your business and provide an individualised offer that includes the amount of the loan, the duration and interest rates. This company loan is an upfront-priced loan so you will know in advance the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors including the amount that is borrowed, what company assets the money are used to purchase as well as the field the company is in, how long the company has been running and what percentage of the business has enough cash flow to fund the loan, and the overall well-being as well as creditworthiness company.
There aren’t any hidden costs for our company loans. You’ll know exactly how much you’ll be required to pay and when, from the day you sign up. There’s not any compounding interest and the loan comes with no additional fees (as as you make your payments on time).
We do not charge an application fee. You are able to get a cash loan with no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated with the setting up and management of the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can decide to repay the total amount of your loan at any point in time.
If you decide to take this route, please speak to our friendly company credit professionals. The specialists will provide you with the details of your repayment and an early payout figure. This will be calculated as the sum of the principal balance plus any accrued interest as of the time of early payment, plus 1.5% of the principal remaining and any fees that remain unpaid.
In order to help you avoid missing payment dates and to align your cash flow schedule, we offer repayments that are either daily or weekly. They will be automatically deducted from your designated business account.
Security of your data, and being upfront about how we collect the information we collect, use, share and protect your information, is vital and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of clients and privacy. We use an advanced banking verification system to instantly confirm your bank account information online to offer rapid response.
The term "asset-based" refers to borrowing where the company owner utilises assets they own to obtain the loan. The asset can be either an individual asset, such as the family home, or a company asset such as a vehicle or piece of equipment.
The vast majority of banks, not just the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan, your assets could be offered for sale by the lender. In essence it is the process of securing new financing taking advantage of the value of what you already have.
For loans that exceed $150K, no asset security is required prior to the loan’s access However, we require a personal guarantee. require an individual guarantee. As long as you follow your loan obligations (as detailed in your loan contract document) and you are able to meet your obligations, asset security is not needed. For loans over $150,000 generally, you can get an individual guarantee and security is provided in the form of a charge over assets.
