The eligibility requirements for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Are you looking for additional funding? Take a look at the conditions of eligibility for our $100K-$500K business financing.
All that is needed for starting is your contact details (company name, your name, email and phone) as well as the amount you’d like to borrow and your monthly revenue.
While in the process and before settlement we’ll require confirmation of your identity but not to get started:
Additionally after we get started in the process, for loans that exceed $150,000, you will also require fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
You can apply for this Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive a same day response and funds may be in your account in 24 hours. Traditional business loans have an annual rate of interest together with additional fees and charges. This business loan is a pre-paid loan so you will know ahead of time the amount you will have to pay, including any fees, charges or charges. This is then broken down into either a daily or weekly repayment figure.
A Small Business Loan can be used for nearly every company purpose including cash flow management, business renovations, marketing to purchase inventory or 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 loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan in this amount the business needs to be operating for a minimum of 3 years and have an annual turnover of $700,000. It is necessary to be 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 demonstrate at the least 12 months of operating.
A larger business loan can be used for almost every company use, including business renovations, to purchase new equipment or inventory, as general working capital and so much more. The loan is not available for personal purposes.
Asset security is necessary to access funding over $150,000. It’s by taking a charge over assets, and could include registration with the PPSR or registering a caveat.
A director’s or personal ensure is a commitment to repay credit that is general in nature rather than defining the security of a specific asset. The person who is signing the ensure is personally liable if the company the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests registered in respect of personal property (including items or assets). The PPSR permits priority over personal property to be granted according to the date the security interest was registered.
An affidavit is an official document lodged to offer an official notice of a claim on a property.
When you’re applying for the Larger Business Loan that is greater than $250,000 we may be able to provide a preliminary pre-approval to help ease the process. We could be able to apply for this without credit checks and within six hours of your initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial well-being questions. It’s not an offer or guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you are offered could be subject to different conditions.
You may be eligible for an company loan if you:
The process for applying is fast and simple. Just fill out the online application in few minutes and a dedicated company loan specialist will be in touch to help you.
To apply for up $100,000, you’ll require identification details (valid Driver’s Licence) and an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Application details including credit consent as well as 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, in addition to interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) we typically offer a response in one hour, provided you make your application in standard company timings and allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to send us copies of your bank statement, we’ll offer the decision in as little as 1 business day.
For the Larger Business Loan ($100K or more) we could be in a position to provide you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some offers have been approved within 24 hours.
The quickest way to apply would be to make sure you apply during standard business hours. Also, let us use the advanced bank verification system link to confirm your bank details online. If you opt to upload documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we usually offer an answer within an hour – provided you submit your request in normal business hours and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statements, we are able to provide a decision in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be able to offer the conditional pre-approval within six hours. After you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Some deals have been approved within less than 24 hours.
The most efficient method is to make sure you apply during normal business hours. Also, permit us to use the advance bank verification to confirm your bank details online. If you choose to upload duplicates of your banking statement, it may take a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a particular amount, we look at a variety of factors for determining your well-being of the business as well as the amount of repayments that your company can support. The total amount of your loan will depend on the specific circumstances the company.
When you make an application for a set amount, we consider a variety of aspects to determine how much we can lend you such as health of your business and the level of repayments your business is able to afford. The amount you receive from your loan will depend on the particular circumstances the business.
If you decide to apply for the company loans, we’ll assess the risk profile that you have for your company and provide an individualised offer, including loan amount, term and the interest rates. A business loan is a loan that is priced upfront and you’ll be aware of the total amount payable including any costs, fees, or interest rates.
Interest rates for business loans rates depend on several factors such as the amount that is of money borrowed, the business assets the money are used to purchase and the sector the company is in, how long the business has been running and in the event that the company has enough cash flow to support the loan, and overall well-being or financial standing of the company.
There are no hidden fees for our business loans, and you’ll know precisely how much it is that you be required to pay, and at what time, from the first day. 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 make an application for loans with absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the expenses involved with setting up 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 amount of loan.
You may choose to pay back the entire amount of your loan early at any time.
If you decide to take this route, please talk to one of our helpful company credit specialists. The professionals will offer you with details for repayment as well as an early payout amount. This will be calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payment, plus 1.5 percent of the principal amount remaining and any outstanding fees.
To make sure that you don’t miss repayments and to fit in with your cash flow standard, we provide repayments either weekly or daily. They will be automatically deducted from your designated company account.
Security of your data, and making it clear the ways we gather data, process, exchange and ensure the security of your information is vital and is an essential part of our relationship you.
Yes. We employ industry-recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system link to immediately verify your bank account details online. This allows us to provide an immediate response.
The term "asset-based" refers to borrowing where a business owner utilises an asset they own to secure the loan. The asset may be a personal asset like the family home, or an company property like a truck as well as a piece of machine.
The majority of lending institutions, even the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, your assets could be offered for sale by the lender. In essence, it is an opportunity to secure additional financing taking advantage of the value of what you already have.
For loans of up to $150K, there is no requirement for asset security upfront to access the money but we do require the personal guarantee. In the event that you fulfill your loan commitments (as detailed in your loan contract document) and you are able to meet your obligations, asset security is not needed. For loans of over $150,000 generally there is the option of a personal guarantee and security that is in the form charges on assets.
