The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Looking for more funding? Review the conditions of eligibility for our $100K-$500K company loans.
All that’s required for starting is your contact details (the name of your company, your name, email or phone number) along with the amount you want to borrow, and your monthly revenue.
In the course of the process and before settlement we will require confirmation of who you are but not before we can begin:
In addition, once we have started, for loans of more than $150,000 you’ll need the following financial statements:
Let’s get started.
Gold Coast unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
It is possible to apply to this Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and funds may be on your account within 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. The company loan is an upfront priced loan therefore you’ll know ahead of time the total amount to be paid, including any fees, charges or charges. This is then broken down into a daily or weekly installment amount.
The Small Business Loan can be used for nearly every company use, including the management of cash flow, company improvements, advertising for purchasing inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are scheduled weekly or fortnightly to work with your cash flow.
A Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To be eligible for a loan of this size the business needs to have been trading for at least 3 years with an annual turnover of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan can be used to fund almost every business purpose including business remodeling, buying inventory or new equipment or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for accessing funds over $150,000. It is usually by way of charge over assets and can include the registration of this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a commitment to repay credit that is generally in nature rather than stipulating the security for a particular asset. The person who signs the ensure is personally liable in the event that the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted depending on the date that a security interest was registered.
The caveat can be described as a formal document lodged to provide the public notice of a legal claim to a property.
If you’re seeking larger company loans that is greater than $250,000 we may be able to provide an initial pre-approval to simplify the process. We may be able to make this decision without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial evaluation that involves you answering some financial well-being questions. This is neither an offer nor a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you might receive could be on different conditions.
You may be eligible for a business loan if you:
The application process is quick and easy. Just complete the online application in few minutes and a dedicated company credit specialist will contact you to assist you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll also require:
$100K – $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details of the application, including credit consent twelve months of bank records, IRD statement and the last two years’ finalised financial statements, as well as interim financial statements for the current year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K or more) we typically provide a response in one hour if you make your application within quality business timings and let us make use of the advanced bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statements , we are able to offer the decision within one business day.
If you are applying for a Larger Business Loan ($100K and up) we may be able to offer you with a conditional pre-approval in about six hours. Once you have signed the pre-approval document, you will need to wait around 2-3 days for final approval, however it could be faster based on the specifics of each application. Some offers have been approved within just 24 hours.
The fastest way is to make sure you apply during standard business hours, and allow us to use our modern bank verification link to instantly verify your bank information online. If you send us copies of your bank accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer within one hour – provided you make your application within standard business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to submit copies of your bank statement, we’ll offer an answer in as little as the span of one business day.
For Larger Business Loans ($100K and up) we may be able to provide the conditional pre-approval in about six hours. Once you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Some offers have been approved in the space of 24 hours.
The fastest way can be make sure you apply during standard business hours and let us use the advanced bank verification system to verify your bank information online. If you opt to send us documents from your account accounts, it takes a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a certain amount we take into consideration a range of elements in order to assess what is the health of your company as well as the amount of repayments that your company will be able to support. The total amount of your loan will depend on the particular circumstances the company.
When you make an application for a certain amount, we consider a variety of factors to determine your well-being of the business and the amount of repayments your company is able to afford. The total amount of your loan will be determined by the particular circumstances the business.
If you decide to make an application for business loans with us company loan, we’ll assess the risk assessment the business and provide you with a customised offer, including loan amount, term and the interest rates. This company loan is an upfront priced loan and you’ll know the exact amount to be paid, including any interest rates, fees or charges.
Interest rates for business loans rates depend on a variety of factors like the amount of money borrowed, the business assets the money will be used for, the industry the business is operating in, how long the company has been operating for, how long the business has enough cash flow to fund the loan, and the overall health or creditworthiness of the business.
There aren’t any hidden costs for our company loans. You’ll know exactly how much it is that you need to pay, and at what time, from day one. There’s no compounding interest, and no extra fees (as long as you are able to make your payments punctually).
We do not charge an application fee. You are able to get a cash loan with without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You may choose to pay back the total amount of your loan at any point in time.
If you do decide to take this route, please talk to one of our helpful business lending experts. We will provide you with details for repayment and an early payout figure. The figure will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of the early payout and 1.5 percent of the principal remaining and any fees that remain unpaid.
To ensure you do not miss repayments and to fit in your cash flow cycle we offer repayments that are either daily or weekly. These are automatically withdrawn from your business account.
Protecting your information, and being clear about how we collect information, use it, and exchange it, as well as ensure the security of your information is of huge importance and is an essential aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their security. We utilise a sophisticated banking verification system to instantly verify the bank account details online. This allows us to offer rapid response.
The term "asset-based" refers to borrowing where the company owner makes use of an asset they own to make the funding. The asset could be a personal asset like the family home or it could be a company asset such as a truck or piece of equipment.
The majority of lending institutions, not just the banks with the biggest size, prefer to make loans secured by assets. If you are having difficulty paying back the loan, the asset could be taken over by the lender. In essence, it’s a way of securing new funding using the value of what you already own.
For loans up to $150,000 the requirement for asset security is not required prior to the loan’s access, however we do need the personal guarantee. So long as you comply with the loan terms (as stipulated in the loan contract) the security of assets is not needed. For loans that exceed $150,000, generally there is a personal guarantee and security that is in the form an asset charge.
