The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K is fairly low.
Are you looking for additional funding? Take a look at the guidelines for eligibility for our $100K-$500K business loans.
All that is needed to get started is your contact information (the name of your company, your name, email and phone) along with the amount you want to borrow, and your monthly income.
While in the process and before settlement we’ll need confirmation of who you are, but not before we can begin:
In addition, once we have started with loans greater than $150,000 you will also require basic financial statements:
Let’s get started now.
Gold Coast unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
The application for your Small Business Loan in under 10 minutes over the phone, receive a same day response and funds may be in your account within 24 hours. Traditional business loans reference an interest rate per annum plus other fees and charges. This company loan is a cash-based loan and you’ll be aware of the total amount to be paid, including any fees, charges or charges. This is then divided into weekly or daily repayment figure.
A Small Business Loan can be used for nearly every company purpose including control of cash flow business renovations, marketing to purchase inventory, new equipment, or as general working capital and much more. The loan is not available for personal purposes.
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 with a maximum of 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percent of the loan amount.
In order to be eligible for a loan in this amount, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of $700,000. 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 demonstrate at least 12 months of trading.
A Larger Business Loan can be used for almost any company purpose including company renovations, purchase of inventory or new equipment 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’s as a result of an charge over assets and can include registering this on the PPSR or making a caveat.
A director’s or personal guarantee is a commitment to repay credit that is generally based rather than stipulating the security of a specific asset. The person who signs the guarantee is personally responsible if the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It reflects security interests registered in respect of personal property (including goods or assets). The PPSR grants the priority of personal property granted in accordance with the date on which a security interest was registered.
An affidavit is an official document lodged to offer the legal claim to property.
If you’re requesting the Larger Business Loan of more than $250,000 we can offer a preliminary pre-approval to help ease the process. It is possible to do this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health checks. This is in no way an offer, nor is it a guarantee of finance. The approval of a conditional loan is subject to an extensive credit evaluation and any offer you receive could be based on different conditions.
You may be eligible for an business loan if you;
The application process is simple and simple. Just complete the online application in just a few minutes, and an experienced company expert in lending will call you to guide you.
To apply for up $100,000, you’ll need identification details (valid Driver’s Licence) as well as an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent twelve months bank statement, an IRD statements, 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 often offer an answer within one hour, provided you apply in standard company time and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you decide to submit copies of your bank statements we can provide an answer within just the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we might be able to offer you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved in 24 hours.
The quickest method would be to ensure you apply during normal business hours and permit us to use the modern bank verification to check your bank’s information online. If you send us documents from your account accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within an hour – provided you make your application within normal business times and you allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statements we can provide an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) We may be in a position to offer you with a conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based on the particular circumstances of each application. Some transactions have received approval within less than 24 hours.
The most effective method is to ensure you apply during standard business hours, and allow us to use our advance bank verification to verify your bank information online. If you decide to send us duplicates of your banking accounts, it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a certain amount we consider a variety of aspects for determining what is the health of your company and the amount of repayments your business will be able to support. The total amount of the loan will be determined by the specifics of your business.
When you make an application for a specific amount we will consider a number of aspects to determine your health of your company as well as the amount of repayments that your business is able to afford. The amount you receive from your loan will be determined by the specifics that are unique to your company.
If you decide to make an application for one of our company loan, we will assess the risk profile of your business and provide an individualised offer, including the amount of loan, the term and the interest rates. This business loan is an upfront cost loan and you’ll know in advance the total amount due, which includes any interest rates, fees or charges.
Interest rates for business loans rates differ based on various variables like the amount to be of money borrowed, the business assets the funds are used to purchase as well as the field the business is operating in, how long the company has been in operation and in the event that the business has sufficient cash flow to cover the loan, as well as the general health as well as creditworthiness business.
There are no hidden fees with our business loans. You’ll know exactly how much you need to pay and when, right from day one. There’s not any compounding interest and there are no additional charges (as as long as you pay your payments in time).
We don’t charge an application fee. You can request a credit loan without any upfront costs or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing 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 percent of the amount of the loan.
You can choose to repay all of your loan in full at any time.
If you decide to pursue this option, please speak to our friendly company loan experts. They’ll provide you with details on repayment as well as an early payout amount. It will be calculated using the total of the principal amount remaining plus any accrued interest as of the time of early payout in addition to 1.5% of the remaining principal and any outstanding fees.
In order to help you avoid missing payment dates and to align your cash flow schedule, we offer repayments that are either weekly or daily. These are automatically deducted from your company account.
The security of your personal information, as well as being upfront about how we collect data, process, exchange and ensure the security of your information is crucial and is an essential aspect of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your personal, sensitive and financial data and our funders are ISO 27001 qualified for our commitment to protecting the security of customers and security. We make use of an advanced banking verification system to instantly verify your bank account information online to offer an immediate response.
An asset-based loan is when a business owner makes use of an asset they own to obtain the funding. The asset can be either an individual property, such as the family home, or a business asset such as a truck or other piece of machinery.
The vast majority of lending institutions, not just the big banks, tend to guarantee loans against an asset. If you’re having trouble paying back the loan then your assets could be taken over by the lender. In essence it is the process of securing new funding using the worth of the asset you already have.
For loans of up to $150,000, the requirement for asset security is not required in advance to gain access to the funds but we do require an individual guarantee. As long as you follow the loan terms (as specified in the loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K generally there is the option of a personal guarantee and security in the form charges on assets.
