The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Review the conditions of eligibility for our $100K-$500K company financing.
All that’s required to begin is your contact information (company name and your name, as well as email or phone number) along with the amount you’d like to lend, and your monthly earnings.
In the course of the process and before settlement we will need confirmation of who you are, but not to get started:
In addition, once we have started in the process, for loans greater than $150,000 you will also need basic financial statements:
Let’s get started now.
Gold Coast unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and funds may be available in just 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. The company loan is a cash-based loan and you’ll know in advance the total amount to be paid, including the interest, fees and charges. Then, it is broken down into weekly or daily payment amount.
The Small Business Loan can be used for virtually any company reason, such as cash flow management, business remodels and marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 for a fixed period of up to 36 months. The repayments are made weekly or fortnightly in order to accommodate the flow of cash.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan of this size, your business needs to have been trading for at least 3 years and have an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A large company loan is a great option for almost all company need, including business renovations, to purchase equipment or inventory, as general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It’s by way of charge against assets, and could include registering this in the PPSR or making a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature, rather than defining security over an asset. The person who signs the guarantee is personally liable if the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR grants prioritisation over property that is personal to be assigned depending on the date that a security interest was registered.
The caveat can be described as a formal document filed to provide notice of a legal claim against a property.
If you’re seeking a Larger Business Loan of more than $250K we may be able to provide an initial pre-approval to smooth out the process. We could be able to make this decision without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering some financial health checks. It’s neither an offer nor a guarantee of finance. A conditional approval is subject an extensive credit evaluation and any offer that you receive could be based on different conditions.
You are eligible to apply for an business loan if you
The application process is quick and simple. Just complete the online application within a few minutes and a dedicated business lending specialist will be in touch to help you.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Application details including credit consent twelve months bank statement, an IRD statement, last 2 years finalised financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K and up) we can often provide a response in one hour if you apply at standard company times and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you want to submit copies of your bank statements we can offer a decision in as little as an company day.
For Larger Business Loans ($100K to $500K) we may be able to provide you with pre-approval conditional to your application within 6 hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Certain offers have been approved within 24 hours.
The fastest way would be to make sure you apply during standard company hours. You can also allow us to use the modern bank verification to instantly confirm your bank details online. If you opt to send us copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K or more) we can often provide a response in one hour, provided you make your application during normal business timings and allow us to use the advanced bank verification system to immediately verify your bank account information online. If you choose to send us copies of your bank statements, we are able to offer the decision in just an business day.
For the Larger Business Loans ($100K up to $500,000) we may be in a position to provide you with conditional pre-approval within six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved within just 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours. You can also allow us to use our advance bank verification link to instantly check your bank’s information online. If you opt to upload duplicates of your banking accounts, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a specific amount we look at a variety of aspects that determine what is the well-being of your business and the extent of repayments that your business can support. The total amount of your loan will depend on the particular circumstances for your business.
When you make an application for a set amount, we will consider a number of elements to determine how much we can lend you such as well-being for your business as well as the amount of repayments that your business is able to afford. The total amount of your loan will depend on the specific circumstances of your business.
When you apply for one of our company loans, we’ll assess the risk assessment the business and offer you with a customised offer that includes loan amount, term and the interest rates. A business loan is an upfront-priced loan and you’ll know the exact amount you will have to pay, including charges or interest.
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 is in operation, how long the business has enough cash flow to support the loan, and general health or financial standing of the company.
There aren’t any hidden charges for our business loans, and you’ll know precisely how much you’ll need to pay, and when, starting from the day you sign up. There’s no compounding interest, and there are no additional charges (as long as you make your payments in time).
We don’t charge an application fee. You can make an application for loans with without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved in establishing 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% of the amount of loan.
You can repay the total amount of your loan early at any time.
If you choose to take this route, please talk to one of our helpful business loans experts. They will provide you with the details of your repayment and an early payment figure. This will be calculated as the sum of the principal amount remaining and accrued interest to the time of early payout in addition to 1.5% of the principal remaining plus any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow routine, we provide repayments either weekly or daily. These are automatically withdrawn from your nominated company account.
The security of your personal information, as well as being upfront about the ways we gather, use, exchange and protect your information, is vital and a vital part of our relationship you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We use an advanced banking verification system to instantly verify your bank account information online so we can provide an immediate response.
Asset-based borrowing occurs when an company owner utilises an asset that they own to make the funds for a loan. The asset could be an asset belonging to the personal, like the family home, or an company property like a truck or piece or equipment.
The vast majority of banks, even the largest banks, are inclined to make loans secured by an asset. If you’re having trouble paying back the loan, then your asset may be taken over by the lender. In essence it is a way of securing new financing taking advantage of the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets upfront to access the money However, we require a personal guarantee. require the personal guarantee. As long as you follow the terms of your loan (as stated in your loan contract document), asset security is not needed. If you take out loans in excess of $150K generally there is a personal guarantee and security in the form a charge over assets.
