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Gold Coast Small Business Loans
Providing Specialist Business Finance

Services in Duranbah

  • Duranbah Unsecured Business Loans
  • Duranbah Business Finance
  • Duranbah Business Lending
  • Duranbah Business Loan
  • Duranbah Small Business Finance
  • Business Funding Duranbah
  • Working Capital Duranbah
  • Duranbah Small Business Lending
  • Duranbah Short Term Business Loans

Business Finance Duranbah Gold Coast 2487 QLD

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The requirements for obtaining an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.

  • The minimum period of 6 months for which you must be in business
  • At least $6,000 revenue per month
  • You must be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or
  • Driver’s License to serve as proof of identity
  • Use a New Zealand bank as your principal trading account
  • Bank statements for the last six months

Do you require more money? Find out the guidelines for eligibility for our $100K-$500K business loan.

Quick application checklist

What do you need to apply

All that is needed to start is your contact details (the name of your company, your name, email address, phone) along with the amount you’d like to borrow and your monthly revenue.

In the course of the process and before settlement we will need confirmation of who you are but not before we can begin:

  • Idenfication information (valid Driver’s Licence)
  • Information about the business, including details on trading hours, ownership details , and the NZBN (New Zealand Business Number)

Once we’ve started, for loans over $150,000 you’ll also need basic financial statements.

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

Information About The Gold Coast Small Business Loans

Tell me what you think of the Gold Coast Small Business Loans

Gold Coast unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.

How is the Unsecured Loan different from a traditional company loan?

You can apply for your Small Business Loan in under 10 minutes on the internet or over the phone, receive a same day response and funds may be in your account within 24 hours. Traditional company loans have an annual rate of interest as well as other fees and charges. This business loan is an upfront priced loan therefore you’ll be aware in advance of the total amount to be paid, including any interest, fees or charges. Then, it is divided into a daily or weekly payment amount.

What could be the Small Business Loan be used for?

It is a Small Business Loan can be used for almost any business need, such as the management of cash flow, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.

About Larger Gold Coast Business Loans

What is the Larger Gold Coast Business Loan?

The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. Repayments are weekly or fortnightly in order to accommodate the flow of cash.

How is the Origination Fee calculated?

The Larger Business Loan has an Origination Fee which is determined at 2.5 percent of the loan amount.

Can I get the Larger Business Loan?

To be eligible for a loan in this amount the company needs to have been in operation for at least 3 years, and have an annual income of $700K. The applicant must also 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 the least 12 months of operating.

How can the funding be utilised?

A Larger Business Loan can be used for almost any company purpose including business remodeling, buying new equipment or inventory as well as for general working capital, and much more. The loan is not available for personal use.

Is the Larger Business Loan one that is secured?

Asset security is needed to obtain funding above $150,000. This is in the form of a charge against assets, which could also be registered through the PPSR or registering a caveat.

A director’s or personal ensure is a promise to repay credit that is general in nature, rather than stipulating the security for a particular asset. The person who signs the guarantee is personally liable in the event that the business the borrower fails to pay back the debt.

The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR allows priority over personal property to be granted in accordance with the date on which a security interest has been registered.

Caveats are legal form of document to provide notice of a legal claim to property.

What exactly is a preapproval without Credit Check?

When you’re applying for larger business loans that exceeds $250K it is possible to offer an initial pre-approval to ease the process. We could be able to apply for this without a credit check and within 6 hours of your initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial health checks. It’s not an offer or guarantee of credit. Unconditional approval is subject to an exhaustive credit evaluation, and any offer that you may receive may be on different terms.

The application process

Do I qualify for funds?

You may be eligible for an company loan if you:

  • are a New Zealand Citizen (or Permanent Resident)
  • are over the age of 18 and have a New Zealand business (with a valid NZBN/IRD)
  • must show at least six months of trading (for you to qualify for unsecured loan $5K – $100K) or 3 years of trading (for the Larger Business Loan $100K - $500K)

How do I apply?

The application process is quick and simple. Just fill out the online application in just a few minutes, and an experienced business credit specialist will call you to guide you.

To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License), a valid NZBN/IRD and at least six months worth of bank statements.

For larger loan sizes, you’ll need:

$100K to $250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K – $500K: Details for application including credit consent twelve month bank accounts, the IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables reports.

How fast will I get a decision?

For an unsecured loan ($5K to $100K) We can usually offer an answer within one hour, provided you submit your request within standard company times and let us make use of the advanced bank verification system to immediately verify your bank account information online. If you decide to upload copies of your banking statements , we will be able to provide an answer in just the span of one company day.

For the Larger Business Loan ($100K or more) we may be in a position to offer the conditional pre-approval in around 6 hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, this can be quicker based on the circumstances of each application. Some deals have been approved in the space of 24 hours.

The most efficient method for you to apply is ensure you apply during normal business hours, and allow us to use the advance bank verification link to check your bank’s information online. If you choose to upload copies of your bank statements , it can take a bit longer.

How quickly will I receive the funds?

For the Small Business Loan ($5K or more) We can usually offer an answer in just one hour – provided you make your application within normal business time and let us use the bank verification system link to instantly verify your bank details online. If you opt to upload copies of your bank statement, we’ll offer the decision in as little as the span of one business day.

If you are applying for Larger Business Loans ($100K to $500K) we may be able to provide the conditional pre-approval within 6 hours. After you’ve signed the pre-approval document, you will need to wait around 2-3 days for final approval. However, this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved within 24 hours.

The fastest way for you to apply is ensure you apply during standard business hours and allow us to use the sophisticated bank verification to confirm your bank details online. If you choose to upload copies of your bank statement, it may take a bit longer.

What is the maximum amount I can borrow?

We provide loan amounts between $5,000 to $500,000. When you make an application for a specific amount we look at a variety of elements in order to assess what is the health that is your company and the extent of repayments that your business can support. The total amount of your loan will depend on the specific circumstances of your company.

When you make an application for a specific amount we consider a variety of factors to determine the health for your business and the level of the repayments your company can afford. The amount you receive from your loan will depend on the specific circumstances for your business.

Fees & repayments

What is the cost for a company loan?

If you decide to request the company loan, we will assess the risk profile of your business and provide you with a customised offer, including the amount of loan, the term and interest rates. A company loan is an upfront priced loan therefore you will know the exact amount to be paid, including any interest rates, fees or charges.

What determines the rate that I’m charged?

Business loan interest rates depend on several factors including the amount borrowed, what company assets the funds are used to purchase, the industry the business operates in, how long the company is in operation for, how long the company has sufficient cash flow to pay for the loan, and general health or creditworthiness of the business.

What are the charges?

There aren’t any hidden costs for our company loans. You’ll know precisely how much it is that you be required to pay and when, starting from the very first day. There’s no compounding interest, and no extra fees (as as you make your payments on time).

We don’t charge an application fee. You are able to request a credit loan with no cost upfront or any obligation to sign up.

The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this fee if you decide to take the loan. Our Origination Fee is 2.5 percent of the loan amount.

Can I repay the loan early?

You can repay the entire amount of the advance loan at any time.

If you choose to do this please call our helpful business credit professionals. They’ll offer you with repayment details as well as an early payout amount. It will be calculated using the sum of the remaining principal amount and any accrued interest at the time of early payment and 1.5% of the principal remaining and any outstanding fees.

How do you make repayments work?

To help you avoid missing repayments and to fit in your cash flow schedule, we offer repayments that are either daily or weekly. They will be automatically deducted from your business account.

Security & privacy

Will my information be protected?

Making sure that your information is secure, and being clear about the ways we gather the information we collect, use, share and secure your information, is of paramount importance and is an essential element of our relationship with you.

Is it safe to link my bank account to the platform?

Yes. We make use of industry-standard encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our customers and security. We utilise a sophisticated bank verification system to instantly verify the bank account details online so we can offer an immediate response.

About business loans

What is asset-based borrowing (a secured loan)?

Asset-based borrowing occurs when an business owner makes use of an asset that they own to secure the funds for a loan. The asset could be an asset belonging to the personal, like the family home, or a company property like a truck or piece or equipment.

The vast majority of lending institutions, including the big banks, tend to guarantee loans against assets. If you are having difficulty paying back the loan, then your asset may be offered for sale by the lender. In essence, it’s the process of securing new financing by making use of the value of what you already have.

What do I require security to get an business loan?

For loans up to $150,000 it is not necessary to secure assets upfront to access the money however, we do require the personal guarantee. If you adhere to the loan terms (as stipulated in your loan contract document) and you are able to meet your obligations, asset security will never be required. For loans that exceed $150,000, typically, you will need an individual ensure and security in the form of the charge of assets.

Gold Coast Small Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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Contact Us

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1300 059 672