The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Do you require more money? Check out the conditions of eligibility for our $100K-$500K business loans.
All that’s required to begin is your contact details (the name of your company, your name, email and phone) and the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will require confirmation of who you are, but not before we can begin:
After we start with loans over $150,000 you’ll require 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 months and cash flow friendly repayments that are either daily or weekly.
It is possible to apply to get this Small Business Loan in under 10 minutes on the phone. You’ll receive a same day response and the funds could be in your account within 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. We offer a business loan is an upfront priced loan and you’ll be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then broken down into weekly or daily repayment figure.
It is a Small Business Loan can be used for almost any business reason, such as cash flow management, company remodels and marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan is not available 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 for a fixed period of with a maximum of 36 months. Repayments are scheduled weekly or fortnightly depending on the flow of cash.
This Larger Business Loan has an Origination Fee, determined at 2.5 percent of the amount of the loan.
To be eligible for a loan in this amount, your company needs to be trading for at least 3 years, and have an annual income of $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A larger business loan can be used for nearly every business need, including business renovations, to purchase new equipment or inventory or as general working capital, and much more. The loan cannot be used for personal use.
Asset security is needed to access funding over $150,000. It is usually by taking a charge over assets, which could also include registration on the PPSR or making a caveat.
A director’s or personal ensure is a guarantee to repay a loan which is general in nature rather than stipulating the security for a particular asset. The person who signs the guarantee is personally responsible if the business creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests that are registered for personal property (including objects or assets). The PPSR gives prioritisation over property that is personal to be assigned depending on the date that a security interest has been registered.
An affidavit is an official form of document to offer the public notice of a legal claim on a property.
If you’re applying for the Larger Business Loan of more than $250K we may be able to provide a preliminary pre-approval to help smooth out the process. It is possible to apply for this without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health checks. It’s not an offer or guarantee of financing. Acceptance without condition is subject to a full credit assessment and any offer you receive could be on different terms.
You may be eligible for a company loan if you
The application process is fast and simple. Simply complete the online form within a couple minutes, and a dedicated company lending specialist will call you to assist you.
To apply for up $100,000 you’ll require proof of identity (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent, 12 months of bank statements, IRD statement and the last two years’ finalised financial statements, in addition to interim financials from the current financial year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide a response in one hour if you submit your request in quality company hours and allow us to utilise the bank verification system link to instantly verify your bank details online. If you opt to submit copies of your bank statements we can offer the decision within one company day.
If you are applying for a Larger Business Loan ($100K and up) we could be likely to offer you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this can be quicker based on the specifics of each application. Certain deals have been approved in just 24 hours.
The fastest way is to make sure you apply during standard business hours. Also, allow us to use our modern bank verification link to instantly check your bank’s information online. If you opt to upload duplicates of your banking statement, it may take a bit longer.
For the Small Business Loan ($5K and up) we usually provide a response in one hour if you apply at standard business timings and you allow us to use the bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statements, we will be able to provide an answer within one business day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to provide you with conditional pre-approval within 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved within less than 24 hours.
The fastest method would be to ensure you apply during normal business hours and permit us to use the advance bank verification to check your bank’s information online. If you choose to send us copies of your bank statements it will take a little longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a specific amount we take into consideration a range of factors in order to assess how much we can lend you well-being for your company and the amount of repayments your company can afford. The amount you receive from your loan will be contingent on the particular circumstances for your company.
If you apply for a particular amount, we consider a variety of factors to determine your well-being for your company and the amount of repayments that your company will be able to support. The total amount of your loan will be determined by the specifics the business.
When you make an application for the business loans, we will assess the risk profile for your business and offer you with a tailored offer including loan amount, term and interest rates. The business loan is an upfront-priced loan so you will know in advance the total amount due, which includes any charges, interest rates or fees.
Business loan interest rates depend on several factors including the amount that is borrowed, what business assets the money will be used for and the sector the company operates in, how long the company has been operating and in the event that the business has enough cash flow to cover the loan, and also the overall health or financial standing of the company.
There aren’t any hidden charges with our business loans, and you’ll know exactly how much it is that you be required to pay and when, right from the day you sign up. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments in time).
We do not charge an application fee. You are able to apply for a loan absolutely no upfront cost and no commitment to apply.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can choose to repay the entire amount of your loan at any point in time.
If you decide to take this route, please call our helpful business credit professionals. The experts will provide you with details on repayment along with an early payout estimate. This is calculated as the sum of the principal amount remaining plus any accrued interest as of the time of early payout plus 1.5 percent of the remaining principal as well as any outstanding fees.
To make sure you do not miss due dates and also to be in line your cash flow schedule, we offer repayments either weekly or daily. These are automatically withdrawn from your designated business 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 an integral element of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We employ an exceptionally sophisticated banking verification system to immediately verify your bank account information online so we can offer rapid response.
Asset-based borrowing is when an business owner utilises assets they own to get the funding. The asset can be either an individual property, such as the family home or a business property like a truck or piece of equipment.
The majority of the lenders not just the major banks, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, the asset might be transferred to the lender. In essence, it’s means of securing new funding using the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required in advance to gain access to the funds but we do need a personal guarantee. If you adhere to your loan commitments (as stated in the loan contract) and you are able to meet your obligations, asset security is not required. For loans over $150K generally, you can get personal guarantee and security that is in the form a charge over assets.
