The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K is fairly low.
Looking for more funding? Check out the guidelines for eligibility for our $100K-$500K business financing.
All that’s needed to get started is your contact information (company name, your name, email address, phone) along with the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we will need confirmation of your identity but not to get started:
Once we’ve started in the process, for loans greater than $150,000 you’ll require basic financial statements:
Let’s get started.
Gold Coast unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
The application to your Small Business Loan in under 10 minutes on the internet or over the phone, receive an immediate response, and the money could be in your account in 24 hours. Traditional business loans are based on an annual interest rate together with additional fees and charges. The company loan is a pre-paid loan and you’ll be aware in advance of the total amount to be paid, including any fees, interest or charges. This is then divided into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for nearly any business purpose including cash flow management, company remodels and marketing for purchasing inventory or new equipment, as 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 company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
A Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large the business needs to be operating for a minimum of 3 years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Larger Business Loan can be used for nearly any company purpose including company improvements, purchasing new equipment or inventory, as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary to obtain funding above $150,000. It’s by taking a charge over assets and can be registered on the PPSR or registering as a caveat.
A personal or director’s guarantee is a promise to repay a loan which is general in nature rather than defining the security of a specific asset. The person who signs the guarantee is personally liable if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR grants prioritisation over property that is personal to be assigned according to the date the security interest was registered.
An affidavit is an official document lodged to offer notice of a legal claim on a property.
When you’re applying for the Larger Business Loan that exceeds $250,000 it is possible to offer a preliminary pre-approval to help ease the process. We may be able 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 answering a couple of financial health questions. It is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an extensive credit evaluation and any offer you may receive may be on different terms.
You are eligible to apply for an business loan if you
The application process is simple and easy. Just fill out the online application in just a few minutes, and an experienced business expert in lending will call you to help you.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s License), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Details of the application, including credit consent as well as 12 month bank accounts, the IRD statement and the last two years’ finalised financial statements, as well as interim financials from the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K up to $100,000) we typically offer an answer within an hour – as long as you make your application in standard business hours and let us utilise the advanced bank verification system to instantly verify your bank details online. If you want to submit copies of your bank statements , we are able to offer an answer in just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we might be likely to offer the conditional pre-approval within about 6 hours. After you’ve signed your 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. Certain offers have been approved within the space of 24 hours.
The fastest way would be to make sure you apply during standard business hours. Also, permit us to use the modern bank verification link to instantly verify your bank information online. If you decide to send us documents from your account statement, it takes a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer within one hour – provided you submit your request at normal business timings and allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your bank statements, we’ll be able to offer an answer in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we could be able to offer you with a conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be faster depending on the specifics of each application. Some deals have been approved within 24 hours.
The quickest method can be make sure you apply during standard business hours. Also, allow us to use our modern bank verification to instantly verify your bank information online. If you choose to upload duplicates of your banking statements, it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a certain amount, we consider a variety of elements in order to assess how much we can lend you well-being that is your company and the amount of repayments your business can afford. The total amount of your loan will depend on the specific circumstances that are unique to your company.
When you submit an application for a certain amount, we will consider a number of variables to determine the health for your business as well as the amount of the repayments your business can support. The total amount of the loan will be determined by the specific circumstances the business.
When you request one of our business financing, we will assess the risk assessment that you have for your company and offer an individualised proposal that includes the loan amount, the terms and the interest rates. A company loan is an upfront-priced loan so you will be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for company loans rates differ based on various factors such as the amount that is borrowed, what company assets the money will be used for as well as the field the business operates in, how long the company is in operation, how long the company has sufficient cash flow to pay for the loan, and also the overall health as well as creditworthiness business.
There aren’t any hidden charges with our business loans. You’ll know precisely what you’ll need to pay and at what time, from day one. There’s no compounding and there are no additional charges (as long as you are able to make your payments in time).
We do not charge an Application Fee. You are able to request a credit loan without any upfront costs or obligation to proceed.
The Origination Fee is the cost associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of the loan.
You can choose to repay the total amount of your loan in full at any time.
If you do decide to do this please speak to our friendly business loans professionals. The specialists will offer you with the details of your repayment along with an early payout estimate. It will be calculated using the total of the principal amount remaining plus any accrued interest as of the time of the early payout plus 1.5 percent of the remaining principal and any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we offer repayments that are either weekly or daily. They are automatically deducted from your designated company account.
The security of your personal information, as well as being upfront about the ways we gather information, use it, and exchange it, as well as ensure the security of your information is vital and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 certified for our dedication to customer security and security. We utilise a sophisticated bank verification system that allows you to instantly verify the bank account details online, allowing us to provide an immediate response.
An asset-based loan is when a business owner makes use of an asset they own to obtain the funding. The asset can be an individual property, such as the family home or it could be a company asset like a truck or other piece of machinery.
The vast majority of banks, including the major banks, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, your assets could be offered for sale by the lender. In essence, it is an opportunity to secure additional financing making use of the value of what you already have.
For loans up to $150K there is no requirement for asset security prior to the loan’s access, however we require a personal guarantee. require an individual guarantee. In the event that you fulfill your loan obligations (as detailed in your loan contract) Asset security will never be needed. For loans over $150,000 generally there is the option of a personal ensure and security is provided in the form of charges on assets.
