The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Do you need more money? Check out the eligibility requirements for our $100K to $500K company loans.
All that’s needed to start is your contact details (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.
Through the process and before settlement we will require confirmation of who you are, but not for starting:
Additionally after we get started in the process, for loans over $150,000 you will also need basic financial statements:
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Gold Coast unsecured loans offers amounts 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.
It is possible to apply to the Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an answer within the same day and the money could be in your account within 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. Our business loan is a cash-based loan and you’ll know in advance the total amount payable including the interest, fees and charges. This is then divided into a daily or weekly repayment figure.
The Small Business Loan can be used to fulfill almost any business need, such as control of cash flow business remodels and marketing for purchasing inventory or new equipment, or as general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range from $100,000 to $500,000 with a term fixed for up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
A Larger Business Loan has an Origination Fee, which is determined at 2.5% of the loan amount.
To be eligible for a credit of this size, your company needs to have been trading for at least 3 years, and have an annual income of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A Larger Business Loan is a great option for almost any company purpose including company renovations, to purchase new equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is required for accessing funds over $150,000. It is usually by taking a charge against assets, and may include registration in the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is general in nature rather than defining the security of a specific asset. The person who signs the ensure is personally responsible if the business the borrower fails to repay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including items or assets). The PPSR grants prioritisation over property that is personal to be assigned in accordance with the date on which a security interest that is registered.
A caveat is a legal document that is filed to provide notice of a legal claim on a property.
If you’re seeking larger company loans that exceeds $250K it is possible to offer a preliminary pre-approval to help make the process. We could be able to make this decision without a credit check, and within six hours of your initial application. This pre-approval is made based on a preliminary assessment which includes you answering a few financial well-being checks. It is not an offer or guarantee of funds. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you may receive may have different terms.
You can apply for an company loan if you;
The application process is fast and simple. Complete the online form within a couple minutes, and a dedicated business loan specialist will call you to help you.
To be eligible for up to $100,000 you’ll need proof of identity (valid Driver’s Licence), a valid NZBN/IRD and at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent and 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, as well as interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) We can usually offer an answer within an hour, provided you apply during standard company times and permit us to use the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statement, we’ll provide an answer in as little as the span of one company day.
For Larger Business Loans ($100K to $500K) we could be likely to offer you with pre-approval conditional to your application in about six hours. After you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Some transactions have received approval within less than 24 hours.
The fastest way can be ensure you apply during standard business hours and allow us to use our advance bank verification to check your bank’s information online. If you upload the copies of bank accounts, it can take a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within an hour if you apply in normal business hours and allow us to utilise the advanced bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statement, we’ll offer a decision in just the span of one business day.
For the Larger Business Loans ($100K and up) We may be capable of provide the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this could be shorter based on the particular circumstances of each application. Certain offers have been approved in just 24 hours.
The most efficient method for you to apply is ensure you apply during standard business hours. Also, allow us to use the advance bank verification to verify your bank information online. If you decide to send us the copies of bank accounts, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. When you make an application for a certain amount we will consider a number of variables in order to assess the health for your company and the level of repayments your company can afford. The amount you receive from your loan will be contingent on the specifics of your company.
When you apply for a set amount, we consider a variety of elements to determine how much we can lend you such as health for your business as well as the amount of payments your business will be able to support. The total amount of the loan will be determined by the specific circumstances of your business.
If you decide to make an application for one of our business financing, we’ll assess the risk assessment of your company and offer you with a customised offer, including the amount of loan, the term and interest rates. A company loan is an upfront-priced loan so you will know in advance the total amount payable including any costs, fees, or interest rates.
Interest rates for company loans rates vary due to factors including the amount borrowed, what business assets the funds will be used for as well as the field the business is in, how long the company has been running for, what percentage of the company has enough cash flow to pay for the loan, and general health or financial standing of the business.
There aren’t any hidden charges with our company loans, and you’ll be aware of the amount you need to pay, and at what time, from the first day. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an Application Fee. You can make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. This is only a 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 the entire amount of the loan at any point in time.
If you are deciding to do this please speak to our friendly company lending experts. They will offer you with details for repayment as well as an early payout amount. This will be calculated as the total of the principal balance and accrued interest to the date of early payout plus 1.5% of the principal remaining and any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow cycle we provide repayments either daily or weekly. These are automatically deducted from your nominated business account.
Security of your data, and making it clear the ways we gather information, use it, and exchange it, as well as protect your information, is vital and is a crucial part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our dedication to protecting the security of clients and privacy. We make use of an advanced bank verification system link to immediately confirm your bank account information online to offer quick responses.
An asset-based loan is when a business owner uses assets they own to secure a loan. The asset could be an individual property, such as the family home, or it could be a business asset like a truck or other piece of machinery.
The vast majority of lending institutions, not just the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan, then your assets could be taken over by the lender. In essence, it is a way of securing new financing using the value of what you already own.
Up to $150,000 in loans the requirement for asset security is not required before you can access the money but we require a personal guarantee. require an individual guarantee. If you adhere to the loan terms (as stipulated in the loan contract) and you are able to meet your obligations, asset security is not required. For loans that exceed $150K, generally, you are able to get an individual guarantee and security in the form the charge of assets.
