The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Do you require more money? Check out the eligibility requirements for our $100K to $500K business loan.
All that’s needed to get started is your contact details (the name of your company, your name, email and phone) along with the amount you’d like to borrow and your monthly earnings.
During the process and before settlement we’ll require confirmation of your identity, but not to get started:
Additionally after we get started in the process, for loans of more than $150,000 you’ll require basic financial statements.
Let’s get started.
Gold Coast unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
The application to get this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and the funds could be in your account in 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. Our business loan is a loan that is priced upfront which means you know in advance the total amount to be paid, including any interest, fees or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for almost every company reason, such as managing cash flows, company remodels and marketing, to purchase inventory or new equipment, or as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. Loans range from $100,000 to $500,000 over a fixed term with a maximum of 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large the business needs to be in operation for at least 3 years and have an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A larger company loan can be used for nearly all company reason, such as company renovations, to purchase equipment or inventory for general working capital and so much more. The loan is not available for personal purposes.
Asset security is needed to obtain funding above $150,000. This is in the form of a charge over assets and can include registering this with the PPSR or filing as a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is general in nature rather than defining security over an asset. The person who is signing the ensure is personally liable in the event that the business creditor is unable 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 that are registered for personal property (including objects or assets). The PPSR permits priority over personal property to be granted according to the date a security interest was registered.
The caveat can be described as a formal document lodged to offer the legal claim to a property.
If you’re requesting a Larger Business Loan of $250,000 or more we may be able to provide a preliminary pre-approval to help simplify the process. We might be able to apply for this without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial evaluation that involves you answering a few financial health checks. It is not an offer of credit or guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer that you are offered could be subject to different conditions.
You can apply for a business loan if you:
The application process is simple and easy. Simply complete the online form in few minutes and a dedicated company credit specialist will contact you to assist you.
To apply for up $100,000 you’ll need identification details (valid Driver’s Licence) along with a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll also require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, plus interim current financial year financials such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) We can usually provide an answer in just one hour if you make your application during standard company time and let us utilise the bank verification system to immediately verify your bank account information online. If you want to submit copies of your bank statements , we’ll be able to provide an answer in as little as 1 company day.
If you are applying for a Larger Business Loan ($100K and up) we may be able to provide you with a conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved in 24 hours.
The most effective method would be to ensure you apply during normal business hours, and let us use the advanced bank verification system to verify your bank account information online. If you opt to send us duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within one hour if you submit your request within standard business hours and you allow us to use the bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements we can provide a decision in just 1 business day.
For the Larger Business Loans ($100K up to $500,000) we could be able to provide you with conditional pre-approval within six hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain offers have been approved in less than 24 hours.
The fastest method can be ensure you apply during normal business hours and allow us to use our modern bank verification to confirm your bank details online. If you choose to upload copies of your bank statement, it will take a little longer.
We provide loan amounts between $5,000 to $500,000. When you make an application for a particular amount, we will consider a number of aspects that determine how much we can lend you health of the business as well as the amount of the repayments your business can support. The amount you receive from your loan will be contingent on the particular circumstances the company.
If you apply for a certain amount, we take into consideration a variety of factors to determine your health of the business as well as the amount of repayments that your company will be able to support. The total amount of the loan will be determined by the specifics that are unique to your business.
If you decide to apply for our company loans, we will assess the risk profile for your company and offer you with a customised offer including the loan amount, the terms and interest rates. The business loan is a loan that is priced upfront which means you know in advance the total amount due, which includes any interest rates, fees or charges.
The interest rates on business loans rates vary due to factors like the amount of money borrowed, the company assets the funds will be used for, the industry the business operates in, how long the business is in operation, in the event that the company has enough cash flow to support the loan, and also the overall well-being or financial standing of the company.
There are no hidden fees with our company loans, and you’ll be aware of the amount you’ll be required to pay and at what time, from the first day. There’s no compounding interest, and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You can request a credit loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the costs associated in establishing and managing the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay all of your loan at any point in time.
If you do decide to pursue this option, please speak to our friendly company lending experts. The professionals will provide you with details for repayment and an early payout figure. This will be calculated as the total of the principal remaining and any accrued interest at the time of the early payout and 1.5 percent of the principal amount remaining as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow routine, we provide repayments either weekly or daily. They are automatically deducted from your nominated company account.
Making sure that your information is secure, and knowing the ways we gather the information we collect, use, share and safeguard your data, is vital and an integral aspect of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We use an advanced banking verification system to immediately verify the bank account details online to provide rapid response.
Asset-based borrowing occurs when a company owner makes use of assets they own to obtain the funds for a loan. The asset can be an individual asset, such as the family home, or a business property like a truck or piece of equipment.
The vast majority of lenders, even the largest banks, are inclined to make loans secured by assets. If you are having difficulty paying back the loan then your assets could be sold by the lender. In essence, it’s an opportunity to secure new financing by making use of the value of what you already own.
For loans of up to $150K, the requirement for asset security is not required prior to the loan’s access however, we do need the personal guarantee. So long as you comply with your loan commitments (as stated in the loan contract) Asset security will never be required. For loans of over $150,000 generally, there is personal ensure and security is provided in the form of an asset charge.
