The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Looking for more funding? Find out the conditions of eligibility for our $100K-$500K business loan.
All that is needed to start is your contact information (the name of your company, your name, email address and telephone) along with the amount you’d like to lend, and your monthly income.
During the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
In addition, once we have started in the process, for loans that exceed $150,000, you’ll need basic financial statements.
Let’s get started.
Gold Coast unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
The application to the Small Business Loan in under 10 minutes on the phone. You’ll receive an answer within the same day and the money could be available in just 24 hours. Traditional company loans have an annual interest rate together with additional fees and charges. Our business loan is a loan that is priced upfront so you will know in advance the total amount payable including any fees, interest or charges. This is then broken down into either a daily or weekly installment amount.
A Small Business Loan can be used for almost any business use, including the management of cash flow, company remodels and marketing to purchase inventory, new equipment, for general working capital and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term for up to 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
To be eligible for a credit that is this large, your company needs to be trading for at least 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Business Loan of a larger size can be used for nearly every business use, including business improvements, purchasing inventory or new equipment or as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is necessary to access funding over $150,000. This can be done by way of charge over assets, and may include registering this with the PPSR or making as a caveat.
A director’s or personal guarantee is a commitment to repay credit that is general in nature rather than specifying security over a particular asset. The person who is signing the guarantee is personally liable in the event that the company lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including goods or assets). The PPSR gives the priority of personal property assigned in accordance with the date on which a security interest has been registered.
The caveat can be described as a formal document that is filed to offer the legal claim to property.
If you’re applying for a Larger Business Loan of $250,000 or more we can offer an initial pre-approval that will help simplify the process. It is possible to apply for this without credit checks and within 6 hours of the initial application. This pre-approval is made based on a preliminary assessment which includes you answering a few financial health checks. This is neither an offer nor a guarantee of funds. Unconditional approval is subject to a full credit assessment and any offer you receive could have different conditions.
You are eligible to apply for a business loan if you;
The application process is fast and simple. Just complete the online application in just a few minutes, and an experienced company loan specialist will call you to guide you through the process.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s License), a valid NZBN/IRD and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Application details including credit consent as well as 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically provide an answer within an hour if you make your application at quality business timings and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statements we can provide the decision in just an company day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be in a position to provide you with conditional pre-approval within six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, it could be faster based on the specifics of each application. Certain agreements have been approved in 24 hours.
The fastest way is to make sure you apply during normal company hours. You can also permit us to use the advance bank verification link to verify your bank information online. If you decide to send us copies of your bank statements it can take a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within an hour – provided you apply during standard business hours and you allow us to use the advanced bank verification system link to instantly verify your bank information online. If you want to submit copies of your bank statements, we are able to provide the decision in just an business day.
For the Larger Business Loans ($100K and up) we may be able to provide you with conditional pre-approval in about six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however it could be faster based upon the circumstances for each application. Some deals have been approved within the space of 24 hours.
The fastest way would be to make sure you apply during normal business hours. You can also allow us to use the modern bank verification to instantly verify your bank account information online. If you choose to upload the copies of bank statements, it takes a bit longer.
We provide loan amounts between $5,000 and $500,000. When you make an application for a certain amount we consider a variety of variables for determining the health that is your business and the level of the repayments your company can support. The total amount of your loan will depend on the particular circumstances for your company.
If you apply for a particular amount, we look at a range of elements to determine the health of your company and the amount of repayments that your company can afford. The total amount of your loan will be determined by the particulars that are unique to your business.
If you decide to apply for our business financing, we’ll assess the risk profile for your company and offer you with a tailored offer, including the loan amount, the terms and interest rates. This company loan is an upfront cost loan which means you be aware of the total amount to be paid, including any charges or interest.
The interest rates on business loans rates differ based on various factors such as the amount that is borrowed, the company assets the money will be used for and the sector the company is operating in, how long the company has been operating for, whether the company has enough cash flow to pay for the loan, and the general health or financial standing of the business.
There are no hidden fees for our company loans, and you’ll know precisely how much you’ll be required to pay and when, from the very first day. There’s no compounding interest, and there are no additional charges (as as you make your payments punctually).
We don’t charge an Application Fee. You are able to get a cash loan with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You can repay the total amount of your loan in full at any time.
If you do decide to do this please call our helpful business loans specialists. They will provide you with the details of your repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and the accrued interest up to the time of the early payout, plus 1.5 percent of the remaining principal and any fees that remain unpaid.
To help you avoid missing repayments and to fit in your cash flow cycle we offer repayments that are either weekly or daily. They are automatically deducted from your business account.
Protecting your information, and making it clear how we collect information, use it, and exchange it, as well as secure your information, is crucial and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We use an advanced bank verification system that allows you to immediately confirm your bank account information online, allowing us to offer a fast response.
The term "asset-based" refers to borrowing where an company owner uses an asset that they own to get the funds for a loan. The asset may be an asset belonging to the personal, like the family home, or a business asset such as a truck or other piece of machinery.
The vast majority of lenders, including the banks with the biggest size, prefer to make loans secured by assets. If you have trouble paying back the loan, then the asset could be transferred to the lender. In essence, it’s a way of securing additional financing using the value of what you already own.
For loans of up to $150K, there is no requirement for asset security prior to the loan’s access however, we require a personal guarantee. require a personal guarantee. So long as you comply with the terms of your loan (as specified in your loan contract document) Asset security will never be needed. For loans over $150K typically, you will need a personal guarantee and security in the form the charge of assets.
