The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the eligibility requirements for our $100K to $500K business loan.
All you need to start is your contact information (company name, your name, email and phone) along with the amount you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
After we start in the process, for loans over $150,000 you’ll also require basic financial statements:
Let’s get started.
Gold Coast unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 month and cash flow friendly repayments which can be made daily or weekly.
Apply to your Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and the funds could be on your account within 24 hours. Traditional company loans reference an interest rate per annum as well as other fees and charges. Our company loan is an upfront priced loan therefore you’ll be aware of the total amount payable including the interest, fees and charges. This is then divided into weekly or daily installment amount.
A Small Business Loan can be used for virtually any business purpose including managing cash flows, business renovations, marketing to purchase inventory, new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly to work with your situation.
A Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To be eligible for a credit of this size, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A larger business loan can be used to fund almost any business reason, such as company renovations, purchase of equipment or inventory as well as for general working capital and so much more. The loan is not available for personal reasons.
Asset security is necessary for funding of more than $150,000. This can be done in the form of a charge against assets, which could also be registered with the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is general in nature, rather than stating security over a particular asset. The person signing the ensure is personally accountable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR gives preference over private property assigned according to the date the security interest was registered.
The caveat can be described as a formal document lodged to offer notice of a legal claim against a property.
If you’re applying for a Larger Business Loan that is greater than $250K, we may offer a preliminary pre-approval to help smooth out the process. We could be able to do this without a credit check, and within 6 hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health questions. It is not an offer of credit or guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer you are offered could have different conditions.
You are eligible to apply for an business loan if you
The application process is quick and easy. Simply complete the online form in just a few minutes, and an experienced company loan specialist will be in touch to help you.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank statements, IRD statements Last 2 years’ finalised financial statements, plus interim current financial year financials such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour if you make your application within quality business hours and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements , we will be able to offer the decision in just 1 business day.
For the Larger Business Loan ($100K and up) we may be able to offer the conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this can be quicker based on the specifics of each application. Certain deals have been approved within the space of 24 hours.
The fastest way is to make sure you apply during normal business hours, and allow us to use the advance bank verification link to confirm your bank details online. If you send us duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K and up) we usually provide a response in one hour – as long as you make your application at normal business time and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statements we can offer the decision in just 1 business day.
For Larger Business Loans ($100K up to $500,000) we may be in a position to offer you with pre-approval conditional to your application in around six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain offers have been approved within just 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours and allow us to use the advanced bank verification system to confirm your bank details online. If you decide to upload copies of your bank statements, it can take a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a specific amount we look at a variety of variables in order to assess what is the health of your business as well as the amount of payments your company can support. The total amount of your loan will be contingent on the specific circumstances for your company.
When you make an application for a specific amount we will consider a number of elements to determine how much we can lend you such as well-being for your company as well as the amount of repayments that your business will be able to support. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
If you decide to apply for the company loans, we’ll assess the risk profile the business and provide you with a tailored offer that includes the amount of loan, the term and the interest rates. The business loan is an upfront-priced loan therefore you will be aware of the total amount you will have to pay, including charges, interest rates or fees.
The interest rates on business loans rates vary due to factors such as the amount that is that is borrowed, what company assets the money will be used for in addition to the industry that the company operates in, how long the business has been operating for, in the event that the business has sufficient cash flow to fund the loan, and the overall health and creditworthiness of the business.
There aren’t any hidden charges with our business loans. You’ll know precisely how much you be required to pay and when, right from the first day. There’s not any compounding interest and no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to make an application for loans with no cost upfront or any obligation to sign up.
The Origination Fee includes the expenses associated with the setting up and management of the loan. The only way to pay this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the loan amount.
You can repay the entire amount of the advance loan at any time.
If you decide to do this please talk to one of our helpful business loans professionals. They’ll provide you with the details of your repayment and an early payout figure. This will be calculated as the total of the principal amount remaining and the accrued interest up to the time of early payout, plus 1.5% of the principal amount remaining plus any outstanding fees.
To make sure that you don’t miss payments and to work your cash flow cycle we provide payments that are either daily or weekly. These are automatically withdrawn from your company account.
Making sure that your information is secure, and being clear about how we collect the information we collect, use, share and protect your information, is of paramount importance and is a crucial element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our dedication to security for our customers and security. We employ an exceptionally sophisticated banking verification system to instantly verify your bank account information online to provide rapid response.
Asset-based borrowing occurs when an company owner uses an asset they own to secure a loan. The asset can be either a personal asset like the family home, or an company asset such as a vehicle or piece or equipment.
The vast majority of lenders, even the big banks, tend to guarantee loans against an asset. If you have trouble paying back the loan then the asset might be taken over by the lender. In essence, it’s an opportunity to secure new funding making use of the value of what you already own.
For loans of up to $150K, no asset security is required prior to the loan’s access but we do require the personal guarantee. So long as you comply with your loan obligations (as stipulated in the loan contract) the security of assets will never be needed. For loans over $150K generally there is a personal guarantee and security in the form an asset charge.
