The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Check out the eligibility requirements for our $100K to $500K company loans.
All you need to begin is your contact information (company name, your name, email or phone number) along with the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we will require confirmation of your identity, but not to get started:
In addition, once we have started in the process, for loans over $150,000 you’ll need basic financial statements:
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Gold Coast unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes on the internet or over the phone, receive a same day response and the money could be in your account within 24 hours. Traditional company loans refer to an annual rate of interest along with other charges and fees. Our business loan is an upfront priced loan so you will know ahead of time the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually any company use, including managing cash flows, company improvements, advertising, to purchase inventory or new equipment, for general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size of loan that can be used to fund business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are scheduled weekly or fortnightly depending on you cashflow.
This Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to be operating for at least three years and have an annual turnover of at least $700K. You must 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 of proving at least 12 months of trading.
A larger business loan can be used for nearly any business reason, such as company improvements, purchasing inventory or new equipment, as general working capital and much more. The loan is not available to fund personal expenses.
Asset security is required to obtain funding above $150,000. This is in the form of a charge against assets, and could include the registration of this with the PPSR or the registration of a caveat.
A personal or director’s ensure is a commitment to pay off a credit line that is general in nature, rather than defining security over a particular asset. The person who is signing the guarantee is personally accountable if the company lender is not able 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 objects or assets). The PPSR permits prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
Caveats are legal document filed to offer the public notice of a legal claim to property.
If you’re applying for larger business loans that exceeds $250,000 we can offer an initial pre-approval in order to smooth out the process. We might be able to get this done without a credit verification and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering a few financial health questions. It is neither an offer nor a guarantee of funds. A conditional approval is subject a full credit assessment and any offer you receive could be on different terms.
You may apply for a company loan if you
The process for applying is fast and simple. Just complete the online application within a couple minutes, and an experienced business loan specialist will contact you to help you.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s Licence), an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also require:
$100K to $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Details for application including credit consent and 12 months of bank records, IRD statements, last 2 years finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) We can usually provide an answer in just one hour – as long as you submit your request in standard company hours and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements , we are able to offer an answer within the span of one company day.
For Larger Business Loans ($100K and up) we might be able to provide you with pre-approval conditional to your application within 6 hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval. However, this may be quicker depending on the circumstances of each application. Certain agreements have been approved in 24 hours.
The quickest way to apply is to make sure you apply during normal company hours. You can also permit us to use the advanced bank verification system link to instantly check your bank’s information online. If you opt to upload duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer in just one hour – as long as you apply at standard business times and let us use the bank verification system to instantly verify your bank information online. If you want to send us copies of your bank statements, we are able to offer a decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be able to offer you with a conditional pre-approval within six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some deals have been approved in the space of 24 hours.
The fastest way is to ensure you apply during normal business hours. You can also permit us to use the modern bank verification to verify your bank information online. If you decide to upload documents from your account statement, it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a certain amount we take into consideration a range of variables in order to assess your well-being for your company as well as the amount of repayments your company will be able to support. The total amount of the loan will be determined by the specifics of your company.
If you apply for a set amount, we will consider a number of elements to assess how much we can lend you such as well-being that is your company and the amount of the repayments your business will be able to support. The amount you receive from your loan will be determined by the particular circumstances of your business.
If you decide to make an application for our business financing, we will assess the risk profile of your company and provide you with a customised offer including the loan amount, the terms and the interest rates. A company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount to be paid, including any charges or interest.
Interest rates for business loans rates depend on several factors including the amount borrowed, what company assets the funds are used to purchase and the sector the business is operating in, how long the company is in operation, whether the company has sufficient cash flow to support the loan, and the general well-being and creditworthiness of the business.
There are no hidden costs with our business loans, and you’ll know exactly how much you be required to pay, and at what time, from the very first day. There’s no compounding interest and no extra fees (as long as you are able to make your payments on time).
We do not charge an application fee. You are able to make an application for loans with without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with the setting up and management of 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 early at any time.
If you are deciding to take this route, please contact our helpful company loans professionals. We will offer you with the details of your repayment as well as an early payout amount. This is calculated as the total of the remaining principal amount and accrued interest to the date of early payout and 1.5% of the principal balance and any fees that remain unpaid.
To ensure you do not miss due dates and also to be in line with your cash flow standard, we offer repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
Security of your data, and knowing how we collect data, process, exchange and safeguard your data, is vital and a vital part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to security for our customers and privacy. We employ an exceptionally sophisticated bank verification system link to immediately verify the bank account details online to offer a fast response.
An asset-based loan is when an company owner uses an asset that they own to get the funds for a loan. The asset can be an asset belonging to the personal, like the family home, or it could be a company asset such as a truck or other piece of machinery.
The majority of the lenders even the banks with the biggest size, prefer to make loans secured by an asset. If you’re having trouble paying back the loan, your assets could be transferred to the lender. In essence, it’s the process of securing new funding making use of the value of what you already have.
For loans of up to $150K, there is no requirement for asset security before you are able to access the money but we do need a personal guarantee. So long as you comply with the loan terms (as specified in your loan contract document), asset security will never be required. If you take out loans in excess of $150,000 generally, you are able to get a personal ensure and security in the form of a charge over assets.
