The eligibility requirements for an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K business financing.
All that is needed for starting is your contact information (company name and your name, as well as email and telephone) as well as the amount you want to borrow, and your monthly revenue.
Through the process and before settlement we’ll require confirmation of your identity but not before we can begin:
Once we’ve started, for loans over $150,000 you will also require basic financial statements:
Let’s get started.
Gold Coast unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and the funds could be in your account within 24 hours. Traditional business loans have an interest rate per annum along with other charges and fees. Our company loan is a cash-based loan which means you be aware of the total amount to be paid, including any fees, interest or charges. This is then broken down into either a daily or weekly payment amount.
The Small Business Loan can be used for virtually any business purpose including control of cash flow company renovations, marketing, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. Repayments are weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the amount of the loan.
To be eligible for a credit in this amount the company needs to be operating for at least three years with an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large business loan can be used to fund almost all business use, including business renovations, to purchase new equipment or inventory as well as for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This is by taking a charge over assets, which could also include registering this with the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a guarantee to repay credit that is generally based rather than stating security over a particular asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to re-pay 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 granted to individuals who own personal property (including goods or assets). The PPSR permits the priority of personal property assigned according to the date a security interest has been registered.
The caveat can be described as a formal document that is filed to offer an official notice of a claim against a property.
If you’re seeking the Larger Business Loan that is greater than $250K we can offer an initial pre-approval that will help simplify the process. We may be able to get this done without a credit verification and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial well-being checks. It’s not an offer or guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer that you might receive could be subject to different terms.
You are eligible to apply for an company loan if you;
The application process is fast and simple. Just complete the online application within a couple minutes, and an experienced company loan specialist will call you to guide you.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent and 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) we can often offer a response in one hour – as long as you make your application during quality business hours and you allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to send us copies of your bank statements , we’ll be able to provide the decision in just an company day.
If you are applying for a Larger Business Loan ($100K or more) we might be in a position to offer the conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however it could be faster based upon the circumstances for each application. Some deals have been approved in just 24 hours.
The most effective method for you to apply is make sure you apply during standard business hours, and let us use the advanced bank verification system link to verify your bank account information online. If you upload documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K or more) we can often offer an answer in just one hour if you submit your request during standard business timings and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your banking statements we can offer the decision within 1 business day.
For the Larger Business Loans ($100K up to $500,000) we might be able to provide you with conditional pre-approval within about six hours. Once you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Certain transactions have received approval in the space of 24 hours.
The quickest method is to ensure you apply during normal business hours, and let us use the advance bank verification link to confirm your bank details online. If you opt to upload the copies of bank statement, it will take a little longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a certain amount we consider a variety of factors in order to assess what is the health for your business and the amount of the repayments your business can support. The amount you receive from your loan will be contingent on the specific circumstances of your business.
When you apply for a specific amount we look at a range of elements to determine how much we can lend you such as health for your business and the amount of payments your company can support. The total amount of your loan will depend on the particulars for your company.
When you make an application for the business loans, we will assess the risk assessment of your company and offer you with a customised offer that includes the loan amount, the terms and the interest rates. This business loan is an upfront cost loan which means you know the exact amount payable including any interest rates, fees or charges.
Interest rates for business loans rates depend on a variety of factors like the amount of money of money borrowed, the company assets the money are used to purchase in addition to the industry that the business operates in, how long the company has been running for, whether the company has enough cash flow to support the loan, and also the general health or financial standing of the business.
There are no hidden fees for our company loans. You’ll know precisely how much you’ll be required to pay, and when, starting from the first day. There’s no compounding and no extra fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You are able to get a cash loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved in establishing and managing the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay the total amount of your loan in full at any time.
If you choose to pursue this option, please talk to one of our helpful company loan professionals. We will provide you with repayment details and an early payout figure. It will be calculated using the sum of the remaining principal amount plus any accrued interest as of the time of early payment, plus 1.5% of the remaining principal and any outstanding fees.
To make sure you do not miss payment dates and to align your cash flow schedule, we provide repayments either weekly or daily. They are automatically deducted from your designated business account.
Protecting your information, and knowing how we collect information, use it, and exchange it, as well as ensure the security of your information is crucial and a vital part of our relationship you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our dedication to security for our clients and privacy. We make use of an advanced bank verification system link to immediately verify the bank account details online. This allows us to provide a fast response.
Asset-based borrowing occurs when an business owner borrows from an asset they own to make the funds for a loan. The asset could be an individual asset, such as the family home, or an business asset like a truck or other piece of machinery.
The vast majority of banks, even the banks with the biggest size, prefer to guarantee loans against assets. If you’re struggling to pay back the loan, your asset may be offered for sale by the lender. In essence, it is a way of securing new financing making use of the value of what you already have.
For loans up to $150,000 the requirement for asset security is not required in advance to gain access to the funds but we do need an individual guarantee. So long as you comply with the loan terms (as specified in your loan contract) Asset security is not required. If you take out loans in excess of $150K generally, you can get a personal guarantee and security in the form the charge of assets.
