The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Check out the conditions of eligibility for our $100K to $500K business loan.
All that’s needed for starting is your contact information (company name, your name, email or phone number), how much you want to borrow, and your monthly revenue.
In the course of the process and before settlement we’ll need confirmation of your identity but not for starting:
In addition, once we have started, for loans of more than $150,000 you’ll require fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow-friendly repayments that are either daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and the money could be in your account in 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. Our company loan is a pre-paid loan therefore you’ll know ahead of time the amount you will have to pay, including any fees, interest or charges. This is then divided into weekly or daily payment amount.
It is a Small Business Loan can be used for nearly any company use, including the management of cash flow, business remodeling, marketing to purchase inventory, new equipment, for general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 36 months. Repayments are either weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To be eligible for a loan of this size, your business needs to be operating for a minimum of 3 years, and have an annual income of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost any business need, including business improvements, purchasing equipment or inventory as well as for general working capital, and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. This can be done as a result of an charge against assets, which could also include registration through the PPSR or registering as a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is generally based rather than stating security over an asset. The person who signs the guarantee is personally liable in the event that the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It reflects security interests registered in respect of personal property (including the assets or goods). The PPSR permits priority over personal property to be granted according to the date a security interest has been registered.
Caveats are legal document that is filed to offer notice of a legal claim against a property.
If you’re applying for a Larger Business Loan that exceeds $250K, we may offer a preliminary pre-approval to help simplify the process. It is possible to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is made based on an initial assessment, which involves the answer to a series of financial health questions. It is neither an offer nor a guarantee of credit. Unconditional approval is subject to a full credit assessment and any offer you may receive may be based on different conditions.
You are eligible to apply for an business loan if you;
The application process is simple and simple. Just fill out the online application within a couple minutes, and a dedicated company credit specialist will be in touch to assist you.
To apply for up to $100,000, you’ll require identification details (valid Driver’s License) along with a valid NZBN/IRD as well as at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K to $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details of the application, including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K up to $100,000) we typically provide an answer within one hour – as long as you apply during quality business timings and you allow us to use the advanced bank verification system link to immediately verify your bank account information online. If you want to upload copies of your bank statements we can provide the decision in just 1 business day.
For Larger Business Loans ($100K to $500K) we could be able to provide you with a conditional pre-approval within about six hours. After you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Certain offers have been approved within 24 hours.
The most effective method can be make sure you apply during normal business hours and allow us to use the advance bank verification link to instantly confirm your bank details online. If you choose to send us duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within one hour if you make your application within standard business time and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your banking statements, we will be able to offer a decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K or more) we may be able to provide the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some offers have been approved within just 24 hours.
The fastest method for you to apply is make sure you apply during normal business hours. You can also allow us to use our sophisticated bank verification link to instantly confirm your bank details online. If you opt to upload duplicates of your banking statements, it will take a little longer.
We provide loans ranging from $5,000 to $500,000. When you make an application for a certain amount we consider a variety of elements in order to assess what is the health that is your company and the extent of payments your company can afford. The amount you receive from your loan will be contingent on the particular circumstances that are unique to your business.
If you apply for a set amount, we will consider a number of variables to determine how much we can lend you such as well-being of your company and the extent of repayments your business is able to afford. The total amount of your loan will be contingent on the specifics that are unique to your company.
When you apply for business loans with us company credit, we’ll assess the risk profile that you have for your business and provide you with a customised proposal that includes the amount of loan, the term and the interest rates. The company loan is a loan that is priced upfront which means you be aware in advance of the total amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates depend on a variety of factors including the amount that is borrowed, what business assets the funds are used to purchase as well as the field the business operates in, how long the business is in operation, how long the business has sufficient cash flow to support the loan, and general well-being or creditworthiness of the business.
There are no hidden fees with our business loans, and you’ll know exactly how much it is that you need to pay, and when, starting from day one. There’s no compounding interest and no additional fees (as long as you make your payments on time).
We don’t charge an Application Fee. You can make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back the entire amount of the loan in full at any time.
If you do decide to do this please talk to one of our helpful company loan experts. They’ll provide you with details for repayment and an early payment figure. The figure will be calculated as the sum of the principal amount remaining plus any accrued interest as of the date of early payout plus 1.5 percent of the principal remaining plus any outstanding fees.
To ensure you do not miss due dates and also to be in line with your cash flow cycle we provide payments that are either daily or weekly. These are automatically deducted from the nominated business account.
Protecting your information, and making it clear how we collect, use, exchange and secure your information, is of huge importance and a vital element of our relationship with you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to customer security and privacy. We employ a highly sophisticated bank verification system to immediately confirm your bank account information online so we can offer rapid response.
Asset-based borrowing occurs when an business owner uses the assets they have to secure the loan. The asset could be an individual property, such as the family home, or an company asset like a truck as well as a piece of machine.
The majority of lenders, including the major banks, prefer to make loans secured by an asset. If you are having difficulty paying back the loan, then your assets could be transferred to the lender. In essence, it’s an opportunity to secure new financing by using the worth of the asset you already own.
For loans up to $150,000 there is no requirement for asset security 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) Asset security will never be required. For loans that exceed $150K, generally, you are able to get personal guarantee and security in the form a charge over assets.
