The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Do you need more money? Take a look at the guidelines for eligibility for our $100K-$500K company financing.
All that’s required for starting is your contact details (the name of your company, your name, email, phone) and the amount you’d like to borrow and your monthly revenue.
In the course of the process and before settlement we’ll need confirmation of your identity, but not for starting:
After we start with loans of more than $150,000 you will also require basic financial statements.
Let’s get started now.
Gold Coast unsecured loans provides amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow friendly repayments which can be made daily or weekly.
The application to the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and have the funds on your account within 24 hours. Traditional business loans have an annual interest rate together with additional fees and charges. We offer a business loan is an upfront priced loan therefore you’ll be aware of the total amount due, which includes any fees, interest or charges. Then, it is broken down into a daily or weekly amount to be paid back.
A Small Business Loan can be used for virtually any business reason, such as managing cash flows, company renovations, marketing for purchasing inventory or 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 company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a loan that is this large, your company needs to have been operating for at least three years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used for almost every company reason, such as business improvements, purchasing new equipment or inventory for general working capital and so much more. The loan cannot be used for personal use.
Asset security is required to access funding over $150,000. It is usually by taking a charge on assets, and may include registration through the PPSR or filing a caveat.
A personal or director’s guarantee is a promise to pay back a loan that is generally in nature rather than stipulating security over an asset. The person who signs the guarantee is personally responsible if the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be assigned according to the date a security interest was registered.
A caveat is a legal form of document to provide the public notice of a legal claim on a property.
If you’re requesting the Larger Business Loan of $250K or more we may be able to provide an initial pre-approval that will help make 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 that includes the answer to a series of financial health checks. It’s not an offer or guarantee of funds. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you may receive may have different conditions.
You are eligible to apply for a company loan if you;
The application process is quick and simple. Simply complete the online form within a couple minutes, and a dedicated company loan specialist will contact you to help you.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Application details including credit consent and 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K up to $100,000) we typically offer an answer in just one hour if you make your application within quality business times and you allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements , we’ll be able to provide the decision in just 1 company day.
For Larger Business Loans ($100K to $500K) we could be in a position to offer you with pre-approval conditional to your application in about 6 hours. After you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this can be quicker based on the specifics of each application. Certain deals have been approved in 24 hours.
The quickest method can be make sure you apply during standard business hours, and let us use the modern bank verification link to verify your bank information online. If you decide to send us duplicates of your banking statement, it can take a bit longer.
For the Small Business Loan ($5K and up) we typically provide an answer within an hour, provided you submit your request within standard business timings and allow us to use the advanced bank verification system link to instantly verify your bank details online. If you choose to send us copies of your bank statement, we’ll provide 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 capable of provide you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within 24 hours.
The most effective method can be ensure you apply during normal business hours, and allow us to use the sophisticated bank verification link to check your bank’s information online. If you opt to upload documents from your account 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 certain amount we take into consideration a range of variables to determine the well-being of your company as well as the amount of payments your company can afford. The amount you receive from your loan will be contingent on the specific circumstances the company.
When you make an application for a particular amount, we consider a variety of aspects to assess how much we can lend you such as health for your business and the extent of repayments that your company can afford. The amount you receive from your loan will depend on the particulars for your business.
If you decide to request our business financing, we will assess the risk assessment that you have for your business and provide you with a customised proposal that includes loan amount, term and interest rates. It is a company loan is an upfront priced loan which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
Business loan interest rates differ based on various factors including the amount borrowed, the business assets the funds are used to purchase in addition to the industry that the company is operating in, how long the business is in operation, how long the business has sufficient cash flow to fund the loan, as well as the general health and creditworthiness of the company.
There aren’t any hidden costs for our business loans. You’ll be aware of the amount you’ll need to pay and when, starting from the very first day. There’s no compounding interest and there are no additional charges (as as long as you pay your payments on time).
We don’t charge an Application Fee. You can apply for a loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay the entire amount of the loan early at any time.
If you are deciding to take this route, please speak to our friendly business lending professionals. They will provide you with the details of your repayment and an early payment 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 percent of the remaining principal plus any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow routine, we provide repayments either weekly or daily. These are automatically withdrawn from your nominated company account.
Making sure that your information is secure, and knowing the ways we gather, use, exchange and safeguard your data, is vital and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their privacy. We use an advanced bank verification system to instantly verify your bank account details online to offer quick responses.
An asset-based loan is when an business owner makes use of an asset that they own to get the funding. The asset can be an individual property, such as the family home or a company asset like a truck or other piece of machinery.
The vast majority of lenders, including the major banks, prefer to guarantee loans against an asset. If you are having difficulty paying back the loan, then the asset could be offered for sale by the lender. In essence it is means of securing new funding using the worth of the asset you already own.
Up to $150,000 in loans the requirement for asset security is not required before you are able to access the money however, we do need the personal guarantee. In the event that you fulfill your loan commitments (as detailed in the loan contract) the security of assets is not required. For loans of over $150K typically, you will need personal guarantee and security in the form a charge over assets.
