The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K business loan.
All that is needed to start is your contact information (company name, your name, email address and telephone) and the amount you’d like to lend, and your monthly earnings.
During the process and before settlement we will need confirmation of who you are but not to get started:
Once we’ve started with loans of more than $150,000 you’ll need fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
Apply to get your Small Business Loan in under 10 minutes on the internet or by phone. You will receive a same day response and have the funds in your account within 24 hours. Traditional business loans are based on an annual rate of interest along with other charges and fees. The business loan is a cash-based loan and you’ll be aware of the total amount payable including any interest, fees or charges. Then, it is broken down into weekly or daily installment amount.
It is a Small Business Loan can be used for virtually any company use, including the management of cash flow, business remodels and marketing, to purchase inventory or new equipment, for general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans range from $100,000 to $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly, depending on your situation.
A Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the loan amount.
To qualify for a loan in this amount the business needs to be trading for at least 3 years and generate an annual revenue of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A Larger Business Loan can be used to fund almost any business use, including business renovations, to purchase new equipment or inventory for general working capital and much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. It’s as a result of an charge on assets, and could include the registration of this through the PPSR or making as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is generally in nature rather than stating the security for a particular asset. The person who signs the guarantee is personally responsible if the company lender is not able 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 reflects security interests registered in respect of personal property (including items or assets). The PPSR grants preference over private property assigned according to the date a security interest that is registered.
A caveat is a legal document lodged to offer notice of a legal claim against a property.
If you’re requesting an enterprise loan that is greater than $250,000 we can offer an initial pre-approval to make the process. We might be able to do this without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment, which involves the answer to a series of financial health questions. It’s not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you are offered could be based on different conditions.
You can apply for a company loan if you
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and a dedicated company lending specialist will call you to help you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details of the application, including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within one hour – as long as you submit your request at quality company time and permit us to make use of the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements we can offer the decision in just 1 business day.
For Larger Business Loans ($100K to $500K) we could be likely to offer you with pre-approval conditional to your application within six hours. After you’ve signed your pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this may be quicker depending on the circumstances of each application. Certain offers have been approved within just 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours. Also, let us use the advance bank verification to confirm your bank details online. If you choose to send us copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K or more) we usually provide an answer in just one hour – provided you submit your request in normal business hours and allow us to use the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statement, we’ll provide a decision in just an business day.
For the Larger Business Loans ($100K and up) we may be capable of offer you with pre-approval conditional to your application in around six hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however it could be faster based on the particular circumstances of each application. Certain deals have been approved within 24 hours.
The fastest way can be ensure you apply during normal business hours, and let us use the modern bank verification link to instantly confirm your bank details online. If you choose to upload copies of your bank statements, it can take a bit longer.
We offer loan amounts between $5,000 to $500,000. If you apply for a certain amount we consider a variety of aspects to determine your health of the business and the amount of repayments that your business is able to afford. The amount you receive from your loan will be contingent on the specifics of your company.
When you submit an application for a set amount, we will consider a number of variables to assess how much we can lend you such as well-being for your company as well as the amount of payments your company is able to afford. The amount you receive from your loan will be contingent on the particulars that are unique to your business.
If you decide to make an application for the business loan, we will assess the risk profile for your company and provide you with a customised offer that includes the amount of loan, the term and interest rates. It is a company loan is an upfront priced loan therefore you will be aware of the total amount payable including any charges or interest.
Business loan interest rates differ based on various factors including the amount that is borrowed, what business assets the funds are used to purchase and the sector the business is operating in, how long the company is in operation for, what percentage of the company has enough cash flow to pay for the loan, as well as the overall health or financial standing of the business.
There aren’t any hidden charges for our business loans, and you’ll know exactly how much it is that you be required to pay and at what time, from the very first day. There’s no compounding interest, and no extra fees (as long as you are able to make your payments on time).
We don’t charge an application fee. You can make an application for loans no cost upfront or commitment to apply.
The Origination Fee is the cost associated in establishing and managing the loan. The only way to pay this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can choose to repay the total amount of your loan early at any time.
If you are deciding to do this please talk to one of our helpful business lending experts. The professionals will offer you with details on repayment and an early payment figure. It will be calculated using the sum of the principal remaining and any accrued interest at the time of early payment plus 1.5 percent of the remaining principal and any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from your nominated business account.
Security of your data, and being transparent about the ways we gather, use, exchange and ensure the security of your information is of paramount importance and is an essential aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to the security of our customers as well as their security. We employ a highly sophisticated banking verification system to immediately verify your bank account information online to offer quick responses.
Asset-based borrowing is when a business owner utilises assets they own to get the funding. The asset may be an individual asset, such as the family home, or a company asset such as a vehicle or piece of equipment.
The majority of lenders, including the big banks, tend to secure loans against assets. If you are having difficulty paying back the loan, the asset might be offered for sale by the lender. In essence it is a way of securing additional financing taking advantage of the value of what you already own.
For loans that exceed $150,000, there is no requirement for asset security upfront to access the money, however we require a personal guarantee. need an individual guarantee. If you adhere to the terms of your loan (as stipulated in the loan contract), asset security will never be needed. For loans that exceed $150K, typically, you will need the option of a personal ensure and security in the form a charge over assets.
