The eligibility requirements for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K to $500K company loans.
All that’s needed for starting is your contact information (the name of your company, your name, email or phone number) and the amount you’d like to borrow, and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are but not to get started:
Once we’ve started, for loans that exceed $150,000, you will also require basic financial statements:
Let’s get started.
Gold Coast unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
Apply to the Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and the funds could be in your account in 24 hours. Traditional company loans are based on an interest rate per annum plus other fees and charges. Our business loan is a cash-based loan therefore you’ll know in advance the total amount payable including any fees, charges or charges. Then, it is broken down into either weekly or daily payment amount.
The Small Business Loan can be used for almost every company reason, such as cash flow management, business remodels and marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 over a fixed term for up to 36 months. Repayments are either weekly or fortnightly in order to accommodate your situation.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan in this amount, your business needs to have been trading for at least 3 years with an annual turnover of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger business loan can be used to fund almost all company need, including business renovations, to purchase new equipment or inventory for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is needed for accessing funds over $150,000. This is by taking a charge against assets, which could also include registration with the PPSR or registering as a caveat.
A director’s or personal guarantee is a guarantee to pay back a loan that is general in nature rather than stipulating security over a particular asset. The person who signs the ensure is personally liable if the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including goods or assets). The PPSR permits preference over private property assigned according to the date the security interest that is registered.
Caveats are legal document filed to provide notice of a legal claim against a property.
If you’re requesting the Larger Business Loan of more than $250,000 it’s possible to offer an initial pre-approval that will help ease the process. We may be able to do this without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering a few financial well-being checks. This is not an offer or guarantee of credit. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you might receive could be based on different terms.
You can apply for a business loan if you:
The application process is simple and easy. Just fill out the online application within a couple minutes, and a dedicated company credit specialist will contact you to help you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s License), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K-$250K: Details of 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 as well as 12 months of bank records, IRD statements, last 2 years finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K and up) We can usually provide an answer within an hour if you submit your request within quality company time and allow us to utilise the bank verification system link to instantly verify your bank information online. If you choose to submit copies of your bank statements , we will be able to provide an answer in as little as one company day.
For Larger Business Loans ($100K or more) we may be capable of offer you with a conditional pre-approval within 6 hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some offers have been approved within less than 24 hours.
The quickest way to apply for you to apply is ensure you apply during standard business hours and allow us to use our modern bank verification to instantly confirm your bank details online. If you decide to upload the copies of bank statements , it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often provide an answer within an hour – provided you apply at normal business times and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your bank statements, we are able to offer a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be capable of offer you with pre-approval conditional to your application within about 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The fastest way is to make sure you apply during standard business hours. You can also let us use the advance bank verification link to instantly verify your bank account information online. If you choose to send us documents from your account statements, it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. When you submit an application for a certain amount we will consider a number of factors for determining how much we can lend you health of the company as well as the amount of repayments that your company will be able to support. The total amount of your loan will depend on the specifics that are unique to your company.
When you submit an application for a specific amount we take into consideration a variety of factors to assess your well-being of your business and the level of repayments that your business is able to afford. The total amount of your loan will be determined by the specifics that are unique to your business.
When you request one of our business loans, we will assess the risk assessment the business and offer you with a customised offer including loan amount, term and interest rates. This business loan is an upfront cost loan which means you know in advance the total amount payable including any interest rates, fees or charges.
Interest rates for company loans rates depend on several factors such as the amount that is borrowed, what company assets the money are used to purchase as well as the field the business is operating in, how long the business has been operating and in the event that the company has sufficient cash flow to support the loan, and the overall well-being and creditworthiness of the company.
There aren’t any hidden costs with our company loans, and you’ll be aware of the amount you be required to pay, and when, starting from the day you sign up. There’s no compounding interest and there are no additional charges (as long as you make your payments punctually).
We do not charge an application fee. You are able to request a credit loan with with no upfront cost or the obligation to take action.
The Origination Fee covers the expenses involved with establishing and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can decide to repay the total amount of your loan in full at any time.
If you are deciding to take this route, please talk to one of our helpful business loan experts. The experts will offer you with repayment details and an early payout figure. It will be calculated using the sum of the principal amount remaining and the accrued interest up to the time of early payment, plus 1.5% of the principal balance as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align your cash flow schedule, we provide payments that are either daily or weekly. They are automatically deducted from your company account.
Making sure that your information is secure, and making it clear the ways we gather the information we collect, use, share and secure your information, is crucial and an integral part of our relationship you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive financial information and our funders are ISO 27001 qualified for our commitment to the security of our clients as well as their security. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify your bank account information online to provide a fast response.
An asset-based loan is when an company owner uses an asset they own to make the funds for a loan. The asset could be an individual asset, such as the family home, or a company asset such as a truck or other piece of machinery.
The majority of lending institutions, not just the major banks, prefer to secure loans against an asset. If you’re struggling to pay back the loan, your asset may be offered for sale by the lender. In essence, it’s means of securing new financing by using the worth of the asset you already own.
For loans that exceed $150K, no asset security is required before you are able to access the money However, we do require the personal guarantee. If you adhere to the loan terms (as specified in your loan contract), asset security will never be needed. If you take out loans in excess of $150,000 generally, you are able to get the option of a personal guarantee and security that is in the form an asset charge.
