The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K is fairly low.
Do you need more money? Take a look at the guidelines for eligibility for our $100K to $500K company loan.
All that’s needed for starting is your contact information (company name, your name, email or phone number) and the amount you want to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of who you are however, not in order to begin:
Once we’ve started in the process, for loans greater than $150,000 you’ll also require basic financial statements.
Let’s get started.
Gold Coast unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
You can apply to get the Small Business Loan in under 10 minutes over the phone. You’ll get an answer within the same day and funds may be on your account within 24 hours. Traditional business loans are based on an interest rate per annum along with other charges and fees. The business loan is a pre-paid loan therefore you’ll know ahead of time the total amount due, which includes the interest, fees and charges. Then, it is broken down into weekly or daily repayment figure.
A Small Business Loan can be used for almost every business purpose including cash flow management, business remodels and marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of that can last up to 36 months. Repayments are either weekly or fortnightly to work with your cash flow.
This Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To be eligible for a credit of this size, your business needs to have been in operation for at least 3 years and have an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A large business loan is a great option for almost all business purpose including business renovations, purchase of inventory or new equipment, as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is required to obtain funding above $150,000. This is by way of charge over assets and can be registered on the PPSR or the registration of a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is general in nature rather than specifying security over an asset. The person who signs the guarantee is personally liable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR permits prioritisation over property that is personal to be granted according to the date the security interest was registered.
A caveat is a legal document lodged to offer an official notice of a claim against a property.
If you’re seeking larger company loans of $250,000 or more, we may offer an initial pre-approval that will help ease the process. We may be able to apply for this without credit checks and within six hours of your initial application. The pre-approval is based upon an initial assessment that includes you answering a few financial well-being checks. This is not an offer or guarantee of funds. 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 an business loan if you:
The application process is fast and simple. Simply complete the online form in few minutes and an experienced company lending specialist will be in touch to assist you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s Licence), an NZBN/IRD that is valid and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also need:
$100K-$250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent, 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually provide an answer within an hour if you make your application in quality business time and allow us to make use of the advanced bank verification system to instantly verify your bank details online. If you opt to submit copies of your bank statement, we’ll provide the decision within the span of one company day.
If you are applying for a Larger Business Loan ($100K and up) we could be likely to provide you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending on the specifics of each application. Certain transactions have received approval in just 24 hours.
The quickest method can be make sure you apply during standard company hours. You can also allow us to use the modern bank verification link to verify your bank account information online. If you decide to send us copies of your bank accounts, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within an hour – provided you apply in normal business time and let us use the bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your bank statement, we’ll offer a decision in as little as 1 business day.
For Larger Business Loans ($100K or more) we may be likely to offer the conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, it could be faster based on the specifics of each application. Certain agreements have been approved in 24 hours.
The most efficient method would be to make sure you apply during standard business hours and let us use the modern bank verification to instantly check your bank’s information online. If you decide to upload copies of your bank accounts, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a certain amount, we take into consideration a range of variables in order to assess the well-being of the company and the level of payments your business is able to afford. The amount you receive from your loan will be contingent on the specifics of your business.
If you apply for a specific amount we consider a variety of elements to assess how much we can lend you such as well-being of your business and the extent of repayments that your business will be able to support. The total amount of your loan will be contingent on the specific circumstances for your business.
When you make an application for our business financing, we’ll assess the risk profile for your company and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. The business loan is an upfront cost loan and you’ll know in advance the total amount to be paid, including any charges, interest rates or fees.
Business loan interest rates depend on several factors like the amount of money borrowed, the company assets the funds will be used for, the industry the company operates in, the long the business has been in operation for, in the event that the business has sufficient cash flow to cover the loan, and overall health or creditworthiness of the company.
There are no hidden costs with our company loans. You’ll know precisely how much it is that you need to pay and when, from the day you sign up. There’s not any compounding interest and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We do not charge an Application Fee. You are able to get a cash loan with without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the total amount of your loan at any point in time.
If you choose to do this please contact our helpful business loan experts. We will offer you with repayment details and an early payout figure. This will be calculated as the sum of the principal amount remaining and accrued interest to the time of the early payout plus 1.5% of the principal remaining as well as any outstanding fees.
To make sure that you don’t miss payment dates and to align your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from the nominated business account.
Protecting your information, and being clear about how we collect, use, exchange and secure your information, is vital and a vital aspect of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to protecting the security of customers and security. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account details online so we can offer a fast response.
Asset-based borrowing is when an business owner borrows from an asset they own to get the loan. The asset may be an asset belonging to the personal, like the family home or a business property like a truck or piece of equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan, then the asset might be transferred to the lender. In essence, it’s a way of securing new financing taking advantage of the value of what you already have.
For loans up to $150K the requirement for asset security is not required prior to the loan’s access However, we require a personal guarantee. require the personal guarantee. As long as you follow the terms of your loan (as detailed in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans over $150,000 generally there is a personal ensure and security in the form a charge over assets.
