The eligibility requirements for an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Need more funds? Check out the conditions of eligibility for our $100K-$500K business loan.
All that is needed to get started is your contact information (the name of your company, your name, email address, phone), how much you’d like to lend, and your monthly income.
In the course of the process and before settlement we’ll require confirmation of your identity, but not to get started:
Additionally after we get started with loans of more than $150,000 you’ll also need the following financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
You can apply to your Small Business Loan in under 10 minutes on the internet or by phone. You will receive an answer within the same day and funds may be on your account within 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. Our business loan is a cash-based loan and you’ll know in advance the amount you will have to pay, including the interest, fees and charges. Then, it is broken down into weekly or daily repayment figure.
The Small Business Loan can be used for almost every company purpose including cash flow management, company renovations, marketing to purchase inventory or new equipment, as general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
This Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To be eligible for a credit of this size, your company needs to have been operating for a minimum of 3 years and have an annual turnover of $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Larger Business Loan can be used for nearly any company purpose including company improvements, purchasing inventory or new equipment or as general working capital and so much more. The loan cannot be used for personal use.
Asset security is required for funding of more than $150,000. This can be done as a result of an charge against assets, which could also include registering this through 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 specifying the security for a particular asset. The person who is signing the guarantee is personally liable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR allows priority over personal property to be granted in accordance with the date on which a security interest that is registered.
An affidavit is an official document lodged to provide notice of a legal claim on a property.
If you’re seeking larger company loans that is greater than $250K it is possible to offer an initial pre-approval to simplify the process. It is possible to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves you answering a few financial well-being checks. It is in no way an offer, nor is it a guarantee of credit. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be on different terms.
You can apply for a company loan if you:
The application process is quick and simple. Just fill out the online application within a couple minutes, and an experienced company credit specialist will call you to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (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 also require:
$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Details for application including credit consent, 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, in addition to interim current financial year financials, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we typically offer an answer within one hour if you apply in standard company times and allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your bank statements we can offer the decision within 1 business day.
For the Larger Business Loan ($100K up to $500,000) we may be able to offer the conditional pre-approval in around 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Certain offers have been approved in 24 hours.
The fastest way would be to make sure you apply during standard company hours, and let us use the modern bank verification link to confirm your bank details online. If you opt to upload documents from your account statements it takes a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within an hour – provided you submit your request within normal business time and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you opt to submit copies of your bank statements we can offer an answer in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be capable of offer you with conditional pre-approval in around 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Certain deals have been approved in the space of 24 hours.
The fastest way can be make sure you apply during standard business hours. Also, let us use the advanced bank verification system to verify your bank account information online. If you choose to send us duplicates of your banking accounts, it can take a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a certain amount we take into consideration a range of aspects to determine your well-being for your business and the level of the repayments your business can afford. The amount you receive from your loan will depend on the specific circumstances of your company.
When you submit an application for a specific amount we consider a variety of factors to determine how much we can lend you such as well-being that is your company and the extent of the repayments your business can support. The amount you receive from your loan will be determined by the specific circumstances of your business.
If you decide to make an application for one of our company loans, we will assess the risk profile of your business and provide an individualised offer, including the amount of loan, the term and the interest rates. This company loan is an upfront priced loan and you’ll know the exact amount you will have to pay, including interest rates, fees or charges.
Interest rates for business loans rates differ based on various factors including the amount of money borrowed, the business assets the money are used to purchase, the industry the business operates in, the long the company has been in operation for, what percentage of the company has sufficient cash flow to support the loan, as well as the general well-being or financial standing of the business.
There are no hidden costs for our company loans, and you’ll know precisely how much it is that you need to pay, and when, right from the very first day. There’s no compounding and there are no additional charges (as long as you are able to make your payments punctually).
We don’t charge an Application Fee. You can get a cash loan without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can repay the total amount of your loan early at any time.
If you choose to do this please contact our helpful business loans experts. We will offer you with the details of your repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and accrued interest to the time of early payout plus 1.5 percent of the principal balance as well as any outstanding fees.
To help you avoid missing payment dates and to align your cash flow schedule, we offer repayments either weekly or daily. They are automatically deducted from the nominated business account.
The security of your personal information, as well as knowing how we collect, use, exchange and ensure the security of your information is vital and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive financial information and our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We use an advanced bank verification system link to instantly verify your bank account details online, allowing us to offer quick responses.
An asset-based loan is when a business owner borrows from assets they own to secure a loan. The asset can be an individual asset, such as the family home or it could be a business asset such as a vehicle as well as a piece of machine.
The majority of lenders, not just the big banks, tend to make loans secured by assets. If you are having difficulty paying back the loan then your assets could be offered for sale by the lender. In essence, it’s the process of securing new funding making use of the value of what you already own.
Up to $150K in loans no asset security is required before you can access the money However, we do need a personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150,000 typically, you will need a personal guarantee and security that is in the form the charge of assets.
