The requirements for getting an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Looking for more funding? Review the guidelines for eligibility for our $100K-$500K business loans.
All that’s required to start is your contact details (the name of your company, your name, email address and telephone) as well as the amount you’d like to lend, and your monthly revenue.
Through the process and before settlement we’ll need confirmation of who you are but not for starting:
In addition, once we have started, for loans that exceed $150,000, you will also need the following financial statements:
Let’s get started.
Gold Coast unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months and cash flow friendly repayments that are either per day or weekly.
It is imaginable to apply for the Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an instant response and funds may be in your account in 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. We offer a company loan is an upfront priced loan so you will know in advance the total amount payable including any interest, fees or charges. This is then broken down into either a daily or weekly installment amount.
The Small Business Loan can be used for virtually every business purpose including managing cash flows, company renovations, marketing for purchasing inventory or new equipment, or as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly to work with your situation.
This Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the loan amount.
To qualify for a loan of this size, your business needs to be operating for at least three years with an annual turnover of $700K. Your company must belong to 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 to prove at minimum 12 months of business.
A Larger Business Loan can be used for nearly all company use, including company remodeling, buying new equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is required to access funding over $150,000. This can be done by taking a charge against assets, and could include the registration of this in the PPSR or making a caveat.
A director’s or personal ensure is a commitment to repay credit that is generally based rather than defining security over an asset. The person who signs the guarantee is personally responsible if the company 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 which are registered with respect to personal property (including objects or assets). The PPSR gives preference over private property assigned according to the date a security interest has been registered.
A caveat is a legal document filed to provide the public notice of a legal claim against a property.
If you’re seeking the Larger Business Loan of more than $250K, we may offer an initial pre-approval that will help make the process. We might be able to apply for this without a credit check and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves you answering some financial well-being questions. It’s not an offer of credit or guarantee of funds. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could be subject to different terms.
You can apply for an company loan if you;
The application process is fast and easy. Just fill out the online application in few minutes and a dedicated business loan specialist will call you to help you.
To be eligible for up to $100,000 you’ll require ID details (valid Driver’s Licence) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K to $250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, and interim current financial year financials, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we usually offer an answer in just one hour, provided you submit your request at standard company hours and permit us to use the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your bank statements we can provide the decision in as little as an business day.
For the Larger Business Loan ($100K or more) we might be capable of offer you with conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved within less than 24 hours.
The quickest method can be ensure you apply during standard business hours. You can also permit us to use the advanced bank verification system to instantly verify your bank account information online. If you opt to send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer a response in one hour – provided you make your application in normal business timings and you allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statement, we’ll offer the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be likely to provide you with a conditional pre-approval in around 6 hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved in less than 24 hours.
The quickest method would be to make sure you apply during normal business hours. Also, allow us to use the sophisticated bank verification to verify your bank account information online. If you opt to upload the copies of bank statements, it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of aspects to determine the health of your business and the extent of repayments that your business will be able to support. The total amount of your loan will depend on the particular circumstances that are unique to your company.
When you make an application for a certain amount, we look at a range of aspects to assess how much we can lend you such as health for your company as well as the amount of the repayments your business can afford. The total amount of your loan will depend on the specific circumstances of your business.
When you make an application for our company financing, we’ll assess the risk profile of your business and offer you with a customised offer including the amount of the loan, the duration and the interest rates. It is a business loan is an upfront priced loan and you’ll be aware of the total amount you will have to pay, including charges, interest rates or fees.
Interest rates for company loans rates depend on several factors like the amount of money that is borrowed, what business assets the money are used to purchase, the industry the company is in, how long the company has been operating and in the event that the company has sufficient cash flow to cover the loan, as well as the general well-being and creditworthiness of the company.
There aren’t any hidden charges for our company loans. You’ll know exactly how much you’ll need to pay, and when, from the very first day. There’s no compounding interest, and there are no additional charges (as long as you are able to make your payments in time).
We don’t charge an application fee. You can apply for a loan absolutely no upfront cost and no commitment to apply.
The Origination Fee includes the expenses associated with setting up and managing the loan. It is only charged for this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back the entire amount of your loan in full at any time.
If you do decide to do this please speak to our friendly company loan specialists. They will offer you with the details of your repayment and an early payment figure. This is calculated as the sum of the principal balance and any accrued interest at the time of early payout and 1.5 percent of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically deducted from your nominated business account.
The security of your personal information, as well as being upfront about the ways we gather the information we collect, use, share and safeguard your data, is vital and is an essential part of our relationship you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and privacy. We use an advanced banking verification system to immediately verify the bank account details online, allowing us to provide an immediate response.
Asset-based borrowing occurs when a company owner uses assets they own to obtain the funding. The asset can be an asset belonging to the personal, like the family home, or it could be a business asset such as a truck or other piece of machinery.
The majority of banks, not just the major banks, prefer to make loans secured by an asset. If you have trouble paying back the loan, then the asset might be transferred to the lender. In essence it’s means of securing new financing taking advantage of the value of what you already own.
For loans up to $150,000 it is not necessary to secure assets in advance to gain access to the funds however, we do require an individual guarantee. In the event that you fulfill your loan obligations (as stated in the loan contract), asset security is not needed. If you take out loans in excess of $150,000 generally there is personal guarantee and security in the form of the charge of assets.
