The requirements for obtaining 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 to $500K business loans.
All you need to start is your contact information (company name, your name, email address, phone) and the amount you’d like to borrow and your monthly income.
During the process and before settlement we will need confirmation of your identity, but not to get started:
After we start in the process, for loans over $150,000 you will also require fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes online or over the phone, receive a same day response and the money could be available in just 24 hours. Traditional business loans have an annual interest rate together with additional fees and charges. Our business loan is a pre-paid loan which means you know ahead of time the total amount due, which includes any fees, charges or charges. This is then broken down into either a daily or weekly payment amount.
A Small Business Loan can be used for virtually every company use, including control of cash flow business remodels and marketing to purchase inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To qualify for a loan that is this large the company needs to have been operating for a minimum of 3 years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger business loan can be used for nearly any company purpose including business renovations, to purchase equipment or inventory for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is necessary to obtain funding above $150,000. It’s as a result of an charge against assets, and could include registering this in the PPSR or registering as a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is general in nature, rather than specifying the security of a specific asset. The person who is signing the ensure is personally accountable if the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including items or assets). The PPSR grants priority over personal property to be granted according to the date a security interest was registered.
Caveats are legal document that is filed to provide the legal claim to property.
If you’re applying for a Larger Business Loan of more than $250K we can offer an initial pre-approval in order to simplify the process. We might be able to get this done without a credit check and within 6 hours of the initial application. The pre-approval process is based on a preliminary assessment which includes the answer to a series of financial health checks. It’s neither an offer nor a guarantee of finance. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you receive could be on different terms.
You are eligible to apply for a business loan if you;
The application process is simple and simple. Just complete the online application within a few minutes and a dedicated company credit specialist will contact you to guide you.
To be eligible for up to $100,000, you’ll need identification details (valid Driver’s License) and an active NZBN/IRD, and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K-$250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent as well as 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, as well as interim financials for the current financial year including Aged Payables, Aged Receivables summaries.
For an unsecured loan ($5K to $100K) we can often provide an answer in just one hour, provided you make your application at quality company timings and allow us to make use of the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your bank statement, we’ll provide a decision within one business day.
For Larger Business Loans ($100K or more) we might be capable of offer you with pre-approval conditional to your application within about six hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however it could be faster based on the specifics of each application. Some deals have been approved in 24 hours.
The quickest method is to ensure you apply during standard business hours and let us use the modern bank verification to check your bank’s information online. If you opt to upload documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within one hour, provided you make your application during standard business hours and let us use the bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statements, we will be able to offer a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we might be capable of offer you with pre-approval conditional to your application within about six hours. Once you’ve signed your pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based on the specifics of each application. Some deals have been approved within the space of 24 hours.
The fastest method would be to ensure you apply during standard business hours and let us use the modern bank verification link to check your bank’s information online. If you send us the copies of bank statements it will take a little longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount, we will consider a number of factors to determine your health of the company and the extent of repayments that your company will be able to support. The total amount of your loan will be contingent on the specifics the company.
If you apply for a set amount, we take into consideration a variety of elements to assess your well-being of your business and the level of repayments that your company is able to afford. The total amount of your loan will be contingent on the specifics the business.
When you request our business loans, we will assess the risk profile for your business and offer you with a tailored proposal that includes the loan amount, the terms and the interest rates. The business loan is a loan that is priced upfront and you’ll be aware of the total amount to be paid, including any costs, fees, or interest rates.
The interest rates on company loans rates depend on several factors such as the amount that is borrowed, the company assets the funds will be used for as well as the field the company operates in, the long the business is in operation and how long the company has sufficient cash flow to cover the loan, and general health or financial standing of the business.
There aren’t any hidden charges with our company loans, and you’ll know precisely how much it is that you need to pay, and when, starting from the day you sign up. There’s no compounding interest, and the loan comes with no additional fees (as as long as you pay your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you decide to pursue this option, please call our helpful company loan experts. The professionals will provide you with repayment details along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the time of early payment and 1.5 percent of the principal amount remaining and any fees that remain unpaid.
To make sure you do not miss repayments and to fit in your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your designated company account.
Protecting your information, and being transparent about the ways we gather data, process, exchange and safeguard your data, is of paramount importance and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where a business owner utilises an asset they own to secure the funding. The asset may be an individual property, such as the family home, or it could be a business asset such as a truck or piece or equipment.
The majority of lending institutions, even the banks with the biggest size, prefer to secure loans against assets. If you have trouble paying back the loan, the asset might be taken over by the lender. In essence it’s an opportunity to secure new financing using the worth of the asset you already own.
Up to $150K in loans the requirement for asset security is not required in advance to gain access to the funds, however we do need a personal guarantee. In the event that you fulfill your loan commitments (as detailed in your loan contract) Asset security will never be needed. For loans that exceed $150,000, generally, there is personal ensure and security is provided in the form of the charge of assets.
