The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business financing.
All you need to start is your contact details (company name, your name, email, phone) along with the amount you’d like to lend, and your monthly earnings.
During the process and before settlement we will require confirmation of your identity, but not for starting:
Once we’ve started in the process, for loans over $150,000 you’ll need basic financial statements:
Let’s get started.
Gold Coast unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments which can be made daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the funds could be in your account within 24 hours. Traditional business loans refer to an interest rate per annum along with other charges and fees. This company loan is a pre-paid loan which means you be aware in advance of the total amount payable including any fees, charges or charges. Then, it is divided into a daily or weekly installment amount.
It is a Small Business Loan can be used for almost every business use, including cash flow management, company remodeling, marketing to purchase inventory or new equipment, as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in 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 in order to accommodate your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To qualify for a loan that is this large, your company needs to have been operating for a minimum of 3 years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly any company reason, such as business renovations, to purchase inventory or new equipment or as general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required to access funding over $150,000. This can be done in the form of a charge on assets, and may be registered through 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 defining the security for a particular asset. The person who is signing the guarantee is personally liable in the event that the business the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including items or assets). The PPSR allows the priority of personal property assigned according to the date the security interest was registered.
Caveats are legal form of document to offer the legal claim against a property.
If you’re applying for the Larger Business Loan that exceeds $250,000, we may offer a preliminary pre-approval to help simplify the process. We might be able to make this decision without a credit check, and within six hours of your initial application. This pre-approval is based on an initial evaluation that involves answering a couple of financial health checks. It’s not an offer of credit or guarantee of financing. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be based on different terms.
You are eligible to apply for an business loan if you:
The application process is simple and easy. Just complete the online application within a few minutes and a dedicated company loan specialist will call you to help you.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) and a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent, 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) We can usually offer an answer within one hour if you submit your request in standard company timings and you allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you decide to send us copies of your bank statements , we are able to offer the decision within just one company day.
For Larger Business Loans ($100K or more) we might be capable of provide the conditional pre-approval within six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Some agreements have been approved within 24 hours.
The fastest way would be to make sure you apply during standard business hours. You can also permit us to use the modern bank verification to instantly verify your bank information online. If you send us duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer in just one hour – provided you make your application in standard business hours and you allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your bank statements, we’ll be able to offer the decision within the span of one business day.
If you are applying for Larger Business Loans ($100K or more) We may be able to offer you with conditional pre-approval within 6 hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Some agreements have been approved within just 24 hours.
The quickest method can be ensure you apply during normal business hours. Also, allow us to use the advance bank verification to confirm your bank details online. If you send us documents from your account statements, it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we take into consideration a range of elements for determining what is the well-being of your company as well as the amount of repayments your business can support. The amount you receive from the loan will be determined by the particular circumstances that are unique to your company.
When you apply for a particular amount, we consider a variety of factors to determine the health that is your business and the extent of the repayments your company is able to afford. The amount you receive from your loan will be determined by the specific circumstances the business.
When you apply for one of our business financing, we’ll assess the risk profile the business and offer you with a tailored proposal that includes loan amount, term and the interest rates. It is a business loan is an upfront cost loan therefore you will know in advance the total amount due, which includes any charges, interest rates or fees.
Interest rates for business loans rates depend on several variables like the amount to be borrowed, what business assets the funds are used to purchase, the industry the business operates in, how long the business has been running for, how long the business has enough cash flow to support the loan, and the overall well-being or creditworthiness of the company.
There are no hidden costs for our business loans, and you’ll know exactly how much it is that you be required to pay and when, from the first day. There’s no compounding interest and no extra fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can apply for a loan with without any upfront costs or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. You are only charged this fee if you choose to 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 advance loan at any time.
If you are deciding to take this route, please call our helpful company credit specialists. They’ll provide you with details on repayment and an early payment figure. It will be calculated using the total of the remaining principal amount and accrued interest to the time of early payout plus 1.5% of the principal balance plus any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we provide payments that are either weekly or daily. These are automatically deducted from your designated business account.
Security of your data, and being upfront about the ways we gather information, use it, and exchange it, as well as protect your information, is crucial and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to customer security and privacy. We use an advanced bank verification system to immediately verify your bank account details online, allowing us to provide quick responses.
The term "asset-based" refers to borrowing where the business owner uses an asset that they own to obtain the funding. The asset could be an individual property, such as the family home, or it could be a company asset such as a vehicle as well as a piece of machine.
The vast majority of lending institutions, not just the big banks, tend to make loans secured by assets. If you have trouble paying back the loan, the asset could be transferred to the lender. In essence it is the process of securing additional financing using the value of what you already own.
Up to $150K in loans there is no requirement for asset security upfront to access the money, however we require a personal guarantee. need the personal guarantee. So long as you comply with your loan commitments (as detailed in the loan contract), asset security is not needed. For loans of over $150,000 generally, there is an individual guarantee and security that is in the form an asset charge.
