The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the guidelines for eligibility for our $100K to $500K business loan.
All that is needed for starting is your contact details (the name of your company, your name, email address, phone) along with the amount you’d like to borrow and your monthly earnings.
Through the process and before settlement we’ll require confirmation of who you are but not for starting:
Additionally after we get started in the process, for loans of more than $150,000 you’ll require basic financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
Apply for this Small Business Loan in under 10 minutes via the internet or over the phone, receive an instant response and the money could be on your account within 24 hours. Traditional business loans are based on an interest rate per annum as well as other fees and charges. This company loan is a pre-paid loan therefore you’ll be aware in advance of the total amount payable including any interest, fees or charges. This is then broken down into weekly or daily repayment figure.
It is a Small Business Loan can be used to fulfill almost every business use, including managing cash flows, business remodels and marketing for purchasing inventory or new equipment, for general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans are between $100,000 and $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly to work with your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5% of the amount of the loan.
To be eligible for a loan that is this large the business needs to have been trading for at least 3 years with an annual turnover of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) over 18 years as well as own a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Business Loan of a larger size can be used for almost all business reason, such as company remodeling, buying equipment or inventory or as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary for accessing funds over $150,000. It is usually by way of charge over assets, and may include registering this through the PPSR or making as a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature rather than stating the security for a particular asset. The person signing the guarantee is personally accountable if the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are which are registered with respect to personal property (including the assets or goods). The PPSR permits priority over personal property to be granted according to the date the registration of a security interest.
A caveat is a legal document lodged to provide notice of a legal claim to property.
If you’re applying for larger business loans that is greater than $250,000 we can offer a preliminary pre-approval to help simplify the process. We might be able to get this done without a credit check, and within 6 hours of your initial application. The pre-approval is based upon an initial evaluation that involves you answering a few financial health checks. It is neither an offer nor a guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you are offered could have different conditions.
You can apply for a business loan if you:
The application process is simple and easy. Complete the online form within a couple minutes, and an experienced business loan specialist will contact you to guide you through the process.
To be eligible for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as a valid NZBN/IRD and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Application details including credit consent as well as 12 months bank statement, an IRD statements and the last two years’ finalised financial statements, in addition to interim current financial year financials such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K and up) We can usually provide a response in one hour if you submit your request within standard company times and allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you decide to upload copies of your banking statements , we will be able to offer an answer in as little as an company day.
If you are applying for a Larger Business Loan ($100K or more) we might be able to offer you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this can be quicker based on the specifics of each application. Certain deals have been approved within 24 hours.
The most effective method would be to ensure you apply during standard business hours, and let us use the advanced bank verification system to instantly confirm your bank details online. If you choose to send us the copies of bank statements it takes a bit longer.
For the Small Business Loan ($5K or more) we typically offer an answer within an hour – provided you submit your request in normal business times and allow us to use the advanced bank verification system link to instantly verify your bank details online. If you want to send us copies of your bank statements, we are able to offer a decision within the span of one business day.
For the Larger Business Loans ($100K or more) we might be able to offer you with pre-approval conditional to your application in about 6 hours. Once you have signed the pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Some offers have been approved in less than 24 hours.
The quickest method is to make sure you apply during standard business hours. You can also permit us to use the advanced bank verification system to instantly verify your bank information online. If you opt to upload documents from your account statement, it can take a bit longer.
We offer loans ranging from $5,000 and $500,000. When you make an application for a certain amount we take into consideration a range of variables to determine your health of your business as well as the amount of repayments that your company is able to afford. The total amount of the loan will be determined by the specifics the business.
When you submit an application for a particular amount, we look at a range of variables to determine your health for your company as well as the amount of payments your business can support. The amount you receive from your loan will be determined by the particular circumstances of your company.
If you decide to request business loans with us business financing, we will assess the risk profile of your company and provide you with a customised offer that includes the loan amount, the terms and interest rates. A business loan is an upfront priced loan therefore you will be aware in advance of the total amount you will have to pay, including costs, fees, or interest rates.
Interest rates for business loans rates vary due to factors such as the amount that is that is borrowed, what business assets the funds will be used for, the industry the company is in, how long the company has been operating and what percentage of the business has enough cash flow to pay for the loan, and the overall well-being or financial standing of the business.
There are no hidden costs for our business loans. You’ll know precisely what it is that you need to pay, and when, from the very first day. There’s no compounding and no additional fees (as as long as you pay your payments punctually).
We do not charge an application fee. You are able to apply for a loan 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. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You may choose to pay back the total amount of your advance loan at any time.
If you choose to do this please speak to our friendly business loans professionals. They will provide you with the details of your repayment and an early payment figure. This is calculated as the sum of the principal remaining and accrued interest to the time of the early payout, plus 1.5% of the principal remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow cycle we provide payments that are either weekly or daily. They will be automatically deducted from your business account.
Security of your data, and knowing how we collect the information we collect, use, share and protect your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard 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 utilise a sophisticated bank verification system that allows you to immediately verify your bank account details online to offer rapid response.
Asset-based borrowing occurs when a business owner utilises the assets they have to obtain the funds for a loan. The asset may be a personal asset like the family home, or an business asset such as a truck as well as a piece of machine.
The vast majority of the 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 might be offered for sale by the lender. In essence, it’s means of securing additional financing using the value of what you already own.
For loans of up to $150,000, the requirement for asset security is not required in advance to gain access to the funds However, we do need an individual guarantee. In the event that you fulfill the loan terms (as specified in your loan contract document) and you are able to meet your obligations, asset security is not required. For loans that exceed $150,000, generally, you are able to get the option of a personal ensure and security that is in the form the charge of assets.
