The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Looking for more funding? Review the eligibility requirements for our $100K-$500K company loans.
All that’s required to get started is your contact information (company name, your name, email address and phone) as well as the amount you want to borrow, as well as your monthly income.
In the course of the process and before settlement we will require confirmation of your identity, but not for starting:
Once we’ve started with loans of more than $150,000 you will also need basic financial statements.
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Gold Coast unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
You can apply to the Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the funds could be in your account within 24 hours. Traditional company loans refer to an annual interest rate as well as other fees and charges. Our company loan is an upfront priced loan which means you know in advance the amount you will have to pay, including any interest, fees or charges. This is then broken down into weekly or daily payment amount.
The Small Business Loan can be used for nearly any business use, including the management of cash flow, business renovations, marketing to purchase inventory, new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the amount of the loan.
To qualify for a loan in this amount, your business needs to have been trading for at least 3 years with an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A larger business loan can be used for almost any company purpose including business remodeling, buying new equipment or inventory, as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It is usually by way of charge on assets and can be registered with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is general in nature, rather than defining the security for a particular asset. The person who signs the guarantee is personally liable in the event that the business lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including goods or assets). The PPSR grants the priority of personal property granted according to the date the security interest has been registered.
Caveats are legal document filed to offer notice of a legal claim to a property.
If you’re seeking larger business loans that exceeds $250K, we may offer an initial pre-approval that will help simplify the process. We may be able to do this without credit checks and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial health checks. This is neither an offer nor a guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you may receive may be on different conditions.
You are eligible to apply for a company loan if you;
The process for applying is fast and easy. Complete the online form within a couple minutes, and a dedicated company loan specialist will be in touch to guide you through the process.
To be eligible for up to $100,000, you’ll need identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) We can usually provide an answer in just one hour if you apply at standard business times and allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statement, we’ll offer the decision in just 1 company day.
For the Larger Business Loan ($100K up to $500,000) we may be able to offer you with a conditional pre-approval in about 6 hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, it could be faster based upon the circumstances for each application. Certain transactions have received approval within less than 24 hours.
The quickest method would be to make sure you apply during normal business hours and permit us to use the advance bank verification to confirm your bank details online. If you opt to send us the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K or more) we can often provide a response in one hour – provided you make your application during normal business timings and permit us to use the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements, we’ll be able to provide the decision within one business day.
For Larger Business Loans ($100K to $500K) We may be likely to provide you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain transactions have received approval in less than 24 hours.
The fastest method would be to make sure you apply during standard business hours. You can also let us use the advanced bank verification system to instantly confirm your bank details online. If you opt to upload duplicates of your banking accounts, it takes a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount, we take into consideration a range of elements in order to assess the well-being that is your business as well as the amount of the repayments your business is able to afford. The amount you receive from your loan will depend on the specific circumstances of your company.
When you make an application for a specific amount we will consider a number of aspects to determine how much we can lend you such as health for your business and the amount of payments your company will be able to support. The amount you receive from your loan will be contingent on the specifics of your business.
If you decide to request one of our business loan, we will assess the risk profile the business and offer you with a customised offer that includes the amount of the loan, the duration and the interest rates. A business loan is an upfront-priced loan which means you be aware in advance of the total amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates differ based on various variables like the amount to be that is borrowed, what business assets the money are used to purchase as well as the field the business is operating in, how long the company has been in operation as well as whether the company has sufficient cash flow to pay for the loan, as well as the general well-being and creditworthiness of the company.
There aren’t any hidden costs with our business loans. You’ll be aware of the amount you’ll need to pay and when, starting from the day you sign up. There’s no compounding interest, and there are no additional charges (as as you make your payments punctually).
We do not charge an application fee. You can make an application for loans without any upfront costs or the obligation to take action.
The Origination Fee includes the expenses associated with the setting up and management of the loan. It is only charged for this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of the loan at any point in time.
If you are deciding to do this please speak to our friendly business credit professionals. They will provide you with details for repayment and an early payout figure. This will be calculated as the total of the principal balance and any accrued interest at the time of early payment plus 1.5 percent of the principal remaining plus any outstanding fees.
To make sure you do not miss payment dates and to align with your cash flow cycle we offer repayments that are either daily or weekly. They will be automatically deducted from your nominated business account.
Security of your data, and making it clear how we collect information, use it, and exchange it, as well as safeguard your data, is crucial and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to protecting the security of clients and privacy. We use an advanced bank verification system that allows you to immediately confirm your bank account information online. This allows us to offer a fast response.
The term "asset-based" refers to borrowing where a company owner makes use of the assets they have to secure the funding. The asset could be a personal asset like the family home, or a company property like a truck or piece of equipment.
The majority of banks, even the largest banks, are inclined to guarantee loans against assets. If you have trouble paying back the loan, then your assets could be taken over by the lender. In essence it is an opportunity to secure new financing making use of the value of what you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds, however we do require an individual guarantee. As long as you follow the terms of your loan (as stipulated in your loan contract) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150K, generally, there is an individual ensure and security that is in the form the charge of assets.
