The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K business loan.
All that is needed to start is your contact details (company name, your name, email address or phone number) as well as the amount you’d like to lend, and your monthly income.
During the process and before settlement we’ll require confirmation of your identity, but not for starting:
After we start in the process, for loans of more than $150,000 you’ll require basic financial statements.
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
Apply to get the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive a same day response and funds may be available in just 24 hours. Traditional company loans reference an annual rate of interest as well as other fees and charges. We offer a business loan is an upfront priced loan and you’ll be aware of the total amount payable including the interest, fees and charges. Then, it is broken down into a daily or weekly amount to be paid back.
A Small Business Loan can be used for almost any business need, such as the management of cash flow, company renovations, marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term for up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
In order to be eligible for a loan of this size the company needs to have been operating for a minimum of 3 years and have an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A larger company loan is a great option for almost every business use, including business renovations, purchase of new equipment or inventory or as general working capital and much more. The loan is not available for personal reasons.
Asset security is needed for funding of more than $150,000. It is usually by taking a charge on assets, and could include registration with the PPSR or filing a caveat.
A director’s or personal ensure is a commitment to pay back a loan that is general in nature, rather than stipulating security over a particular asset. The person signing the ensure is personally accountable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been that are registered for personal property (including items or assets). The PPSR gives priority over personal property to be assigned depending on the date that a registration of a security interest.
Caveats are legal document lodged to provide the public notice of a legal claim on a property.
When you’re applying for a Larger Business Loan that exceeds $250,000 we may be able to provide a preliminary pre-approval to help smooth out the process. It is possible to do this without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial health questions. It’s not an offer or guarantee of finance. Unconditional approval is subject to an extensive credit evaluation and any offer you receive could have different conditions.
You may be eligible for an business loan if you
The application process is simple and simple. Complete the online form in few minutes and an experienced company credit specialist will contact you to guide you.
To be eligible for up to $100,000, you’ll need proof of identity (valid Driver’s License) and an active NZBN/IRD, and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K – $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Information on the application including credit consent as well as 12 months of bank records, IRD statement and the last two years’ finalised financial statements, as well as interim current financial year financials including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) we usually offer an answer in just one hour if you make your application during standard company times and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you choose to submit copies of your bank statements , we’ll be able to offer a decision in just one company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we could be in a position to provide you with conditional pre-approval within about 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 upon the circumstances for each application. Some deals have been approved within just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours, and let us use the advanced bank verification system to verify your bank information online. If you upload copies of your bank statements it will take a little longer.
For the Small Business Loan ($5K or more) we typically offer an answer within an hour – provided you make your application in standard business time and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statements, we’ll be able to offer a decision within the span of one business day.
For Larger Business Loans ($100K to $500K) we could be likely to offer you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval. However, it could be faster based on the specifics of each application. Certain deals have been approved within the space of 24 hours.
The quickest method is to ensure you apply during normal business hours. Also, permit us to use the modern bank verification to verify your bank information online. If you decide to upload copies of your bank statements it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a specific amount we consider a variety of elements that determine how much we can lend you well-being that is your business and the extent of the repayments your company can support. The amount you receive from your loan will depend on the particular circumstances for your company.
When you apply for a specific amount we will consider a number of variables to assess the health of the business and the extent of payments your business is able to afford. The total amount of the loan will be determined by the particulars of your business.
If you decide to make an application for the company loans, we’ll assess the risk profile the business and provide you with a tailored proposal that includes loan amount, term and interest rates. It is a business loan is an upfront cost loan which means you know in advance the total amount you will have to pay, including charges or interest.
Interest rates for company loans rates differ based on various variables like the amount to be of money borrowed, the company assets the funds are used to purchase as well as the field the business is operating in, how long the business is in operation for, in the event that the company has sufficient cash flow to pay for the loan, and overall health or financial standing of the business.
There are no hidden costs with our company loans. You’ll know precisely how much you need to pay, and when, from the first day. There’s no compounding and no extra fees (as as you make your payments on time).
We do not charge an Application Fee. You can apply for a loan with without any upfront costs or obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can repay the entire amount of the loan in full at any time.
If you do decide to take this route, please call our helpful business loan professionals. The specialists will offer you with repayment details along with an early payout estimate. The figure will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of the early payout plus 1.5% of the principal remaining plus any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we provide repayments either weekly or daily. These are automatically withdrawn from your company account.
Security of your data, and being clear about how we collect the information we collect, use, share and secure your information, is of huge importance and is an essential element of our relationship with you.
Yes. We employ industry-recognised encryption techniques to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We make use of an advanced banking verification system to instantly verify your bank account details online. This allows us to provide an immediate response.
Asset-based borrowing is when an company owner borrows from an asset they own to make the loan. The asset could be a personal asset like the family home or it could be a company asset such as a truck or piece or equipment.
The vast majority of lending institutions, even the banks with the biggest size, prefer to make loans secured by an asset. If you have trouble paying back the loan then your assets could be taken over by the lender. In essence it’s the process of securing new funding making use of the value of what you already own.
For loans of up to $150K, it is not necessary to secure assets before you can access the money but we do require a personal guarantee. As long as you follow your loan obligations (as stipulated in your loan contract document), asset security is not required. For loans over $150K typically, you will need an individual guarantee and security that is in the form the charge of assets.
