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Gold Coast Small Business Loans
Providing Specialist Business Finance

Services in Runaway Bay

  • Unsecured Business Loans Runaway Bay
  • Business Finance Runaway Bay
  • Business Lending Runaway Bay
  • Runaway Bay Business Loans
  • Small Business Finance Runaway Bay
  • Business Funding Runaway Bay
  • Working Capital Runaway Bay
  • Small Business Lending Runaway Bay
  • Short Term Business Loans Runaway Bay

Business Finance Runaway Bay Gold Coast 4216 QLD

Simple eligibility checklist

Small Business Loan Eligibility Criteria

The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.

  • At least 6 months in business
  • At least $6,000 in income per month
  • Be a New Zealand based company with a New Zealand Business Number (NZBN)
  • Passport or Driver’s License for proof of identity
  • Use an account with a New Zealand bank as your principal account for trading
  • Bank statements for the last 6 months

Looking for more funding? Review the guidelines for eligibility for our $100K to $500K business credit.

Quick application checklist

What do you need to apply

All that is needed to begin is your contact information (company name, your name, email and phone) along with the amount you’d like 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:

  • Details of the Idenfication (valid Driver’s Licence)
  • Details of the business including time of trading, ownership details and the NZBN (New Zealand Business Number)

In addition, once we have started, for loans over $150,000 you’ll need fundamental financial statements:

  • P&L statement
  • Aged payables
  • Aged receivables

Let’s get started now.

 

FAQ: business lending & business loans for business owners

Business Loans Frequently Ask Questions

More about the Gold Coast Small Business Loans

Let me know how you are able to avail the Gold Coast Small Business Loans

Gold Coast unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.

What makes the Unsecured Loan different from an traditional business loan?

It is imaginable to apply to your Small Business Loan in under 10 minutes online or over the phone, receive an immediate response, and funds may be in your account in 24 hours. Traditional business loans reference an annual interest rate together with additional fees and charges. We offer a business loan is a pre-paid loan so you will know in advance the total amount due, which includes any fees, charges or charges. Then, it is broken down into weekly or daily installment amount.

What can the Small Business Loan be used for?

It is a Small Business Loan can be used for almost any business use, including the management of cash flow, company remodeling, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal use.

About Larger Gold Coast Business Loans

What is the Larger Gold Coast Business Loan?

The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.

How is the Origination Fee calculated?

The Larger Business Loan has an Origination Fee which is calculated at 2.5 percentage of the amount of the loan.

Am I eligible for the Larger Business Loan?

To be eligible for a loan that is this large, your business needs to have been in operation for at least 3 years and generate an annual revenue of at least $700K. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.

How can the funding be used for?

A Larger Business Loan can be used for nearly any business purpose including business renovations, to purchase equipment or inventory as well as for general working capital, and much more. The loan cannot be used to fund personal expenses.

Is the Larger Business Loan one that requires security?

Asset security is needed for funding of more than $150,000. It is usually in the form of a charge over assets and can include registering this through the PPSR or filing a caveat.

A director’s or personal guarantee is a commitment to pay back a loan that is general in nature rather than stating security over an asset. The person who signs the guarantee is personally accountable if the business borrower is unable to pay back the debt.

The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including objects or assets). The PPSR permits the priority of personal property assigned according to the date the security interest that is registered.

The caveat can be described as a formal form of document to offer the legal claim to property.

What is a pre-approval minus Credit Check?

When you’re applying for larger company loans of $250K or more, we may offer an initial pre-approval in order to smooth out the process. We could be able to make this decision without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial assessment, which involves you answering some financial well-being questions. It is neither an offer nor a guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer that you might receive could be subject to different conditions.

The application process

Do I have the right to receive funds?

You can apply for a business loan if you;

  • are a New Zealand Citizen (or Permanent Resident)
  • are 18 years or older, have a New Zealand business (with a valid NZBN/IRD)
  • you must demonstrate at minimum 6 months of trading (for you to qualify for unsecured loan $5K – $100K) or three years of trading (for the Larger Business Loan $100K or $500K)

How do I apply?

The application process is fast and simple. Simply complete the online form in just a few minutes, and an experienced business expert in lending will call you to help you.

For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months of bank statements.

For larger loan sizes, you’ll need:

$100K – $250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K to $500K: Details for application including credit consent and 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, as well as interim financials for the current financial year as well as Aged Payables and Receivables summaries.

What speed will I be able to get a decision?

For an unsecured loan ($5K to $100K) we can often offer a response in one hour if you apply at standard company hours and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you want to upload copies of your banking statement, we’ll offer the decision in just 1 company day.

If you are applying for a Larger Business Loan ($100K up to $500,000) we may be able to provide you with a conditional pre-approval in about six hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval, however this can be quicker based upon the circumstances for each application. Some transactions have received approval within 24 hours.

The quickest method is to make sure you apply during normal business hours. You can also allow us to use the advance bank verification link to check your bank’s information online. If you decide to send us duplicates of your banking statements it may take a bit longer.

How soon will I receive the funds?

For the Small Business Loan ($5K and up) we typically offer an answer in just one hour if you apply in normal business hours and allow us to use the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statements, we are able to offer an answer within 1 business day.

If you are applying for Larger Business Loans ($100K and up) we could be able to offer you with a 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, this may be quicker depending on the specifics of each application. Some agreements have been approved in the space of 24 hours.

The fastest method can be ensure you apply during normal business hours. You can also let us use the sophisticated bank verification to instantly confirm your bank details online. If you opt to upload the copies of bank statements, it will take a little longer.

What is the maximum amount I can borrow?

We provide loan amounts between $5,000 to $500,000. When you submit an application for a specific amount we will consider a number of elements to determine the health for your company and the amount of payments your company will be able to support. The amount you receive from the loan will be determined by the specific circumstances for your company.

If you apply for a specific amount we consider a variety of factors to assess how much we can lend you such as well-being of your business and the level of repayments your business can afford. The total amount of the loan will be determined by the particular circumstances of your business.

Fees & repayments

What is the cost for an company loan?

If you decide to make an application for business loans with us business financing, we’ll assess the risk profile of your company and offer you with a tailored offer that includes the amount of the loan, the duration and the interest rates. The business loan is an upfront priced loan and you’ll be aware of the total amount to be paid, including any costs, fees, or interest rates.

What is the basis for the rate I will be charged?

Business loan interest rates depend on several factors including the amount that is borrowed, what business assets the funds will be used for in addition to the industry that the business operates in, how long the company has been operating, how long the company has sufficient cash flow to fund the loan, and also the overall health and creditworthiness of the company.

What are the costs?

There are no hidden fees with our business loans, and you’ll know precisely how much you’ll need to pay, and when, from the first day. There’s not any compounding interest and the loan comes with no additional fees (as long as you make your payments on time).

We do not charge an application fee. You can make an application for loans with without any upfront costs or commitment to apply.

The Origination Fee covers the expenses involved in establishing and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.

Do I have the option of paying off the loan early?

You may choose to pay back the entire amount of your loan in full at any time.

If you decide to take this route, please call our helpful business loan experts. The professionals will provide you with repayment details and an early payment figure. This will be calculated as the sum of the principal remaining and accrued interest to the date of early payout in addition to 1.5% of the principal balance and any outstanding fees.

What is the process for repayments?

In order to help you avoid missing payment dates and to align with your cash flow standard, we offer repayments that are either weekly or daily. These are automatically withdrawn from your designated business account.

Security & privacy

Will my data be secure?

Security of your data, and knowing the ways we gather information, use it, and exchange it, as well as safeguard your data, is of huge importance and a vital aspect of our relationship with you.

Is it safe to link my bank account to the platform?

Yes. We use industry recognised encryption protocols to safeguard your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We use an advanced banking verification system to instantly confirm your bank account information online so we can offer rapid response.

About business loans

What is asset-based borrowing (a secured loan)?

An asset-based loan is when a business owner utilises an asset they own to make the funding. The asset can be either an asset belonging to the personal, like the family home, or it could be a company property like a truck or piece or equipment.

The majority of lending institutions, including the largest banks, are inclined to guarantee loans against assets. If you have trouble paying back the loan then the asset could be transferred to the lender. In essence it is an opportunity to secure new financing making use of the value of what you already own.

Do I need security to get an business loan?

For loans that exceed $150K, no asset security is required before you can access the money but we require a personal guarantee. need the personal guarantee. As long as you follow the terms of your loan (as stated in your loan contract) Asset security is not needed. For loans that exceed $150,000, generally, you are able to get the option of a personal guarantee and security in the form charges on assets.

Gold Coast Small Business Loans Services

Unsecured Business Loans

Unsecured Business Loans

Eligibility Requirements

Eligibility Requirements

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Contact Us

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1300 059 672