The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Find out the guidelines for eligibility for our $100K-$500K company financing.
All that is needed to get started is your contact details (the name of your company, your name, email address or phone number) as well as the amount you’d like to borrow, as well as your monthly income.
In the course of the process and before settlement we’ll require confirmation of who you are but not to get started:
After we start with loans over $150,000 you will also need the following financial statements:
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Gold Coast unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
The application to get this Small Business Loan in under 10 minutes online or on the phone. You’ll receive an instant response and have the funds available in just 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. The company loan is a cash-based loan which means you be aware in advance of the amount you will have to pay, including any interest, fees or charges. This is then divided into weekly or daily repayment figure.
It is a Small Business Loan can be used for nearly every company use, including cash flow management, company improvements, advertising to purchase inventory or 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 loan size to support 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 either weekly or fortnightly in order to accommodate your situation.
A Larger Business Loan has an Origination Fee which is calculated at 2.5% of the amount of the loan.
To be eligible for a loan of this size, your company needs to have been operating for at least three years and generate an annual revenue of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of business.
A large business loan can be used to fund almost any company purpose including business improvements, purchasing new equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is necessary to access funding over $150,000. It’s in the form of a charge on assets, and may include the registration of this in the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to repay a loan which is general in nature rather than defining the security of a specific asset. The person who is signing the ensure is personally responsible if the company the borrower fails to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register 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 gives the priority of personal property granted in accordance with the date on which a security interest has been registered.
A caveat is a legal document that is filed to provide the legal claim against a property.
If you’re applying for an enterprise loan of $250,000 or more we may be able to provide a preliminary pre-approval to help simplify the process. We may be able to do this without credit checks and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes answering a couple of financial health questions. It’s not an offer of credit or guarantee of funds. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer that you might receive could be based on different conditions.
You are eligible to apply for a business loan if you
The application process is fast and easy. Simply complete the online form in few minutes and a dedicated business lending specialist will be in touch to assist you.
For a loan of up to $100,000, you’ll need proof of identity (valid Driver’s License), an active NZBN/IRD, and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K-$250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent, 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, plus interim current financial year financials such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K or more) We can usually offer an answer in just one hour – as long as you make your application at quality business times and allow us to utilise the bank verification system link to instantly verify your bank details online. If you want to submit copies of your bank statements , we are able to provide the decision within just an business day.
If you are applying for a Larger Business Loan ($100K or more) we may be capable of provide the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Some agreements have been approved in less than 24 hours.
The quickest way to apply would be to ensure you apply during normal company hours. You can also allow us to use our advance bank verification link to instantly verify your bank information online. If you send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within an hour – provided you apply in standard business times and permit us to use the bank verification system link to instantly verify your bank details online. If you opt to send us copies of your bank statements, we’ll be able to offer the decision within the span of one business day.
For the Larger Business Loans ($100K to $500K) We may be able to offer the conditional pre-approval within about six hours. Once you have signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this could be shorter based upon the circumstances for each application. Some offers have been approved in 24 hours.
The most effective method for you to apply is ensure you apply during standard business hours. You can also permit us to use the advanced bank verification system link to instantly verify your bank account information online. If you opt to send us documents from your account statements, it can take a bit longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a certain amount we consider a variety of elements that determine your well-being for your company as well as the amount of the repayments your company can support. The total amount of your loan will be contingent on the specifics the company.
When you make an application for a set amount, we take into consideration a variety of variables to assess the health of the business and the extent of payments your business can support. The amount you receive from your loan will depend on the particular circumstances for your business.
When you make an application for our company financing, we’ll assess the risk profile that you have for your company and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. This company loan is a loan that is priced upfront therefore you will be aware of the total amount payable including any charges, interest rates or fees.
Interest rates for company loans rates depend on several factors like the amount of money that is borrowed, what business assets the money are used to purchase, the industry the business operates in, the long the company has been operating and what percentage of the company has enough cash flow to support the loan, and general well-being as well as creditworthiness company.
There are no hidden costs for our business loans, and you’ll be aware of the amount you’ll need to pay, and when, starting from the first day. There’s no compounding interest, and no additional fees (as as long as you pay your payments punctually).
We don’t charge an application fee. You can make an application for loans with with no upfront cost or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back the entire amount of the loan in full at any time.
If you choose to take this route, please speak to our friendly company lending experts. They will offer you with the details of your repayment and an early payment figure. It will be calculated using the total of the principal remaining and accrued interest to the time of the early payout, plus 1.5% of the remaining principal and any fees that remain unpaid.
To ensure 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.
The security of your personal information, as well as knowing the ways we gather information, use it, and exchange it, as well as secure your information, is crucial and an integral aspect of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system link to immediately confirm your bank account information online. This allows us to offer a fast response.
Asset-based borrowing is when the company owner borrows from an asset they own to obtain the funding. The asset may be a personal asset like the family home or it could be a company asset like a truck or piece of equipment.
The majority of banks, not just the major banks, prefer to make loans secured by assets. If you have trouble paying back the loan, then the asset might be taken over by the lender. In essence it’s the process of securing additional financing making use of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security before you can access the money However, we do need an individual guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract document), asset security is not required. For loans that exceed $150,000, typically, you will need the option of a personal ensure and security in the form of charges on assets.
