The requirements for obtaining an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Do you require more money? Find out the conditions of eligibility for our $100K-$500K business financing.
All that’s needed to begin is your contact information (the name of your company, your name, email address and telephone) and the amount you’d like to borrow, as well as your monthly income.
During the process and before settlement we will require confirmation of your identity however, not in order to begin:
Once we’ve started when it comes to loans over $150,000 you will also require basic financial statements.
Let’s get started.
Gold Coast unsecured loans provides the range of $5,000 to $100,000, with terms ranging from 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
Apply to get this Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an answer within the same day and funds may be in your account in 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. Our company loan is an upfront priced loan therefore you’ll know ahead of time the amount you will have to pay, including the interest, fees and charges. Then, it is divided into a daily or weekly payment amount.
The Small Business Loan can be used for virtually any company use, including managing cash flows, business improvements, advertising to purchase inventory or new equipment, as general working capital and much more. The loan cannot be used to fund personal expenses.
The Larger Business Loan is a larger loan size to support business expansion opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. The repayments are made weekly or fortnightly in order to accommodate your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To be eligible for a loan of this size, your company needs to be operating for a minimum of 3 years with an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A larger business loan can be used for almost every company purpose including business renovations, purchase of inventory or new equipment, as general working capital and much more. The loan is not available for personal purposes.
Asset security is needed for funding of more than $150,000. It’s as a result of an charge over assets and can include the registration of this in the PPSR or making a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is generally in nature rather than stipulating the security for a particular asset. The person who is signing the ensure is personally responsible if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests registered in respect of personal property (including goods or assets). The PPSR permits preference over private property assigned according to the date a security interest that is registered.
Caveats are legal document lodged to offer the public notice of a legal claim to a property.
If you’re applying for the Larger Business Loan of more than $250K, we may offer an initial pre-approval to ease the process. We might be able to apply for this without a credit verification and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial health checks. It is in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be on different conditions.
You can apply for a company loan if you;
The application process is simple and simple. Simply complete the online form within a few minutes and a dedicated company credit specialist will call you to guide you.
For a loan of up to $100,000, you’ll require ID details (valid Driver’s Licence) along with a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Application requirements, including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Information on the application including credit consent twelve month bank accounts, the IRD statement, last 2 years finalised financial statements, plus interim financials for the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) we can often offer an answer in just one hour, provided you make your application at standard company hours and let us make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to send us copies of your bank statements , we will be able to offer the decision within an business day.
For Larger Business Loans ($100K up to $500,000) we might be able to provide the conditional pre-approval in around 6 hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this may be quicker depending on the particular circumstances of each application. Some offers have been approved in 24 hours.
The fastest way is to ensure you apply during normal business hours. Also, let us use the advance bank verification link to instantly verify your bank information online. If you choose to upload documents from your account statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within an hour if you submit your request during standard business hours and permit us to use the advanced bank verification system to instantly verify your bank information online. If you choose to submit copies of your bank statements we can offer the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we might be capable of offer the conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this can be faster depending on the particular circumstances of each application. Some deals have been approved within less than 24 hours.
The fastest method for you to apply is ensure you apply during normal business hours. Also, let us use the sophisticated bank verification to confirm your bank details online. If you decide to send us documents from your account statement, 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 elements that determine the health of the business as well as the amount of repayments your company can afford. The total amount of your loan will be contingent on the particular circumstances that are unique to your business.
When you apply for a certain amount, we take into consideration a variety of factors to determine how much we can lend you such as health of your business and the level of payments your company is able to afford. The total amount of your loan will be determined by the particulars the business.
If you decide to apply for the company financing, we’ll assess the risk assessment of your company and offer you with a customised offer, including the amount of the loan, the duration and interest rates. This business loan is a loan that is priced upfront and you’ll know the exact amount you will have to pay, including interest rates, fees or charges.
The interest rates on company loans rates vary due to factors such as the amount that is that is borrowed, what business assets the money will be used for and the sector the company operates in, the long the business has been operating, what percentage of the company has sufficient cash flow to fund the loan, and overall health and creditworthiness of the company.
There aren’t any hidden costs with our business loans, and you’ll be aware of the amount you’ll be required to pay and when, from day one. There’s no compounding interest, and no additional fees (as as long as you pay your payments on time).
We don’t charge an application fee. You are able to request a credit loan without any upfront costs or commitment to apply.
The Origination Fee covers the costs associated in establishing and managing the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of loan.
You can choose to repay the entire amount of the loan at any point in time.
If you decide to take this route, please contact our helpful company credit specialists. They’ll provide you with details for repayment as well as an early payout amount. It will be calculated using the total of the principal remaining and any accrued interest at the time of the early payout, plus 1.5 percent of the principal balance and any outstanding fees.
To make sure that you don’t miss due dates and also to be in line your cash flow schedule, we provide repayments either daily or weekly. They will be automatically deducted from your nominated business account.
Making sure that your information is secure, and being transparent about how we collect, use, exchange and ensure the security of your information is crucial and is an essential part of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our customers and security. We make use of an advanced bank verification system link to immediately confirm your bank account information online to provide a fast response.
Asset-based borrowing occurs when an company owner utilises an asset that they own to secure the funding. The asset can be either an asset belonging to the personal, like the family home, or an business asset such as a vehicle or piece or equipment.
The vast majority of lenders, including the largest banks, are inclined to guarantee loans against an asset. If you have trouble paying back the loan then the asset could be sold by the lender. In essence, it is a way of securing new funding taking advantage of the value of what you already have.
For loans up to $150,000 it is not necessary to secure assets upfront to access the money however, we do need an individual guarantee. In the event that you fulfill your loan commitments (as detailed in your loan contract document) and you are able to meet your obligations, asset security is not needed. For loans over $150,000 generally, you can get the option of a personal guarantee and security is provided in the form of the charge of assets.
