The eligibility requirements for an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Need more funds? Review the eligibility requirements for our $100K-$500K company loan.
All you need to get started is your contact information (the name of your company, your name, email address or phone number) along with the amount you’d like to borrow as well as your monthly income.
During the process and before settlement we’ll need confirmation of your identity, but not for starting:
Additionally after we get started, for loans over $150,000 you will also require basic financial statements:
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Gold Coast unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months. They also offer cash flow friendly repayments, which are either daily or weekly.
You can apply to get this Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and have the funds available in just 24 hours. Traditional business loans have an interest rate per annum along with other charges and fees. The business loan is an upfront priced loan and you’ll know in advance the total amount to be paid, including any interest, fees or charges. Then, it is broken down into a daily or weekly payment amount.
A Small Business Loan can be used for nearly any company need, such as control of cash flow company improvements, advertising to purchase inventory, new equipment, to fund general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
The Larger Business Loan has an Origination Fee, determined at 2.5 percentage 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. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger company loan can be used for almost every company reason, such as company renovations, purchase of new equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal reasons.
Asset security is needed to obtain funding above $150,000. It is usually in the form of a charge against assets, and may be registered through the PPSR or registering a caveat.
A personal or director’s guarantee is a guarantee to pay off a credit line that is general in nature rather than specifying the security for a particular asset. The person who is signing the guarantee is personally liable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It reflects security interests that are registered for personal property (including objects or assets). The PPSR gives priority over personal property to be assigned according to the date the security interest was registered.
A caveat is a legal document that is filed to offer an official notice of a claim to property.
If you’re requesting an enterprise loan of $250K or more it’s possible to offer an initial pre-approval in order to smooth out the process. We may be able to make this decision without a credit check and within 6 hours of the initial application. This pre-approval is made based on an initial evaluation that involves the answer to a series of financial health questions. It’s neither an offer nor a guarantee of credit. The approval of a conditional loan is subject to a full credit assessment and any offer you are offered could be on different terms.
You may be eligible for an company loan if you
The application process is quick and easy. Just fill out the online application in few minutes and a dedicated company expert in lending will call you to guide you through the process.
To be eligible for up to $100,000 you’ll require proof of identity (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least 6 months of bank statements.
For larger loan sizes, you’ll also need:
$100K to $250K: Details of application, including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent as well as 12 month bank accounts, the IRD statement, last 2 years finalised financial statements, and interim current financial year financials such as age-related payables and aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually offer a response in one hour – as long as you apply at standard business hours and allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statements , we will be able to offer a decision within just one company day.
For the Larger Business Loan ($100K up to $500,000) we may be likely to offer you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, it could be faster based on the particular circumstances of each application. Some deals have been approved within 24 hours.
The quickest method would be to make sure you apply during standard business hours and allow us to use the advanced bank verification system to check your bank’s information online. If you choose to upload copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer within an hour – provided you apply during standard business hours and you allow us to make use of the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your banking statements, we are able to provide a decision in just an business day.
If you are applying for Larger Business Loans ($100K and up) we may be likely to offer you with conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Certain offers have been approved within just 24 hours.
The fastest method can be ensure you apply during normal business hours. Also, let us use the advance bank verification link to verify your bank information online. If you upload the copies of bank statement, it will take a little longer.
We provide loan amounts between $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of aspects to determine your well-being that is your business as well as the amount of repayments your business can support. The total amount of your loan will be contingent on the specifics for your business.
When you apply for a set amount, we look at a range of variables to determine how much we can lend you such as health for your company and the extent of repayments your business is able to afford. The total amount of the loan will be determined by the particular circumstances of your company.
When you request one of our company loans, we’ll assess the risk assessment that you have for your business and provide you with a tailored offer that includes loan amount, term and interest rates. The company loan is an upfront-priced loan so you will be aware in advance of the total amount due, which includes any interest rates, fees or charges.
Interest rates for company loans rates differ based on various factors like the amount of money borrowed, the business assets the money will be used for and the sector the company is operating in, how long the company has been operating, what percentage of the business has sufficient cash flow to cover the loan, as well as the general well-being or creditworthiness of the company.
There are no hidden fees for our business loans. You’ll know exactly how much you’ll be required to pay and when, right from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments in time).
We don’t charge an application fee. You are able to make an application for loans absolutely no upfront cost and no obligation to proceed.
The Origination Fee includes the expenses associated with the setting up and management of the loan. The only way to pay this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You may choose to pay back the entire amount of the loan early at any time.
If you do decide to pursue this option, please contact our helpful company loan experts. They will offer you with the details of your repayment along with an early payout estimate. This will be calculated as the total of the principal balance and the accrued interest up to the time of early payment plus 1.5 percent of the principal remaining plus any outstanding fees.
To help you avoid missing payments and to work with your cash flow general, we provide repayments either daily or weekly. They will be automatically deducted from your nominated company account.
Making sure that your information is secure, and being clear about how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and is a crucial part of our relationship you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our clients and security. We make use of an advanced bank verification system link to immediately verify your bank account details online so we can provide rapid response.
The term "asset-based" refers to borrowing where an business owner borrows from an asset that they own to obtain a loan. The asset may be a personal asset like the family home or a business property like a truck as well as a piece of machine.
The majority of banks, even the largest banks, are inclined to make loans secured by assets. If you’re having trouble paying back the loan then your asset may be taken over by the lender. In essence it is the process of securing additional financing taking advantage of the value of what you already own.
For loans of up to $150,000, the requirement for asset security is not required upfront to access the money however, we do require an individual guarantee. As long as you follow the terms of your loan (as specified in the loan contract) and you are able to meet your obligations, asset security will never be required. For loans over $150,000 generally, there is an individual guarantee and security that is in the form a charge over assets.
