The eligibility requirements for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Do you need more money? Take a look at the conditions of eligibility for our $100K to $500K business loan.
All that’s required for starting is your contact details (company name, your name, email, phone), how much you’d like to borrow, and your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity, but not to get started:
After we start with loans greater than $150,000 you’ll also require basic financial statements.
Let’s get started.
Gold Coast unsecured loans provides the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments which can be made daily or weekly.
It is imaginable to apply for your Small Business Loan in under 10 minutes online or over the phone. You’ll get an instant response and funds may be in your account in 24 hours. Traditional company loans are based on an annual rate of interest along with other charges and fees. Our business loan is a pre-paid loan which means you know in advance the total amount to be paid, including any interest, fees or charges. This is then divided into a daily or weekly repayment figure.
It is a Small Business Loan can be used for almost any company purpose including cash flow management, business improvements, advertising to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of with a maximum of 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 which is determined at 2.5% of the loan amount.
To qualify for a loan that is this large, your business needs to have been operating for a minimum of 3 years and generate an annual revenue of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A Business Loan of a larger size can be used for almost every business use, including company remodeling, buying equipment or inventory for general working capital and much more. The loan is not available for personal purposes.
Asset security is necessary for accessing funds over $150,000. It is usually by way of charge over assets, which could also include the registration of this through the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a guarantee 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 creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests granted to individuals who own personal property (including the assets or goods). The PPSR gives prioritisation over property that is personal to be granted according to the date a security interest has been registered.
An affidavit is an official document that is filed to provide an official notice of a claim to property.
When you’re applying for a Larger Business Loan that exceeds $250K we can offer an initial pre-approval that will help ease the process. We might be able to make this decision without a credit check, and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves the answer to a series of financial health questions. It is not an offer of credit or guarantee of credit. Unconditional approval is subject to an extensive credit evaluation and any offer that you are offered could have different terms.
You may apply for an business loan if you:
The application process is fast and simple. Simply complete the online form within a couple minutes, and an experienced company expert in lending will be in touch to assist you.
To apply for up to $100,000, you’ll need proof of identity (valid Driver’s License) and an NZBN/IRD that is valid and at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Details of application, including credit approval, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K – $500K: Information on the application including credit consent, 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, and interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K up to $100,000) we typically offer an answer in just one hour – as long as you apply during standard company time and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you decide to submit copies of your bank statements , we are able to provide a decision in just the span of one business day.
If you are applying for a Larger Business Loan ($100K up to $500,000) we may be able to provide you with a conditional pre-approval within 6 hours. After you’ve signed your pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be quicker based on the specifics of each application. Certain offers have been approved within 24 hours.
The quickest method can be make sure you apply during standard company hours, and allow us to use our advance bank verification link to confirm your bank details online. If you decide to send us the copies of bank accounts, it takes a bit longer.
For the Small Business Loan ($5K or more) We can usually offer an answer in just one hour – provided you submit your request in standard business timings and allow 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 statements, we are able to offer an answer in as little as 1 business day.
If you are applying for Larger Business Loans ($100K and up) we might be likely to provide you with conditional pre-approval within about six hours. Once you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some agreements have been approved within the space of 24 hours.
The fastest way for you to apply is make sure you apply during normal business hours, and permit us to use the advanced bank verification system link to instantly verify your bank account information online. If you opt to send us the copies of bank statements it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. If you apply for a certain amount we take into consideration a range of factors for determining your health of the business and the level of repayments your business can support. The total amount of your loan will depend on the specifics of your company.
If you apply for a specific amount we look at a range of factors to assess how much we can lend you such as health that is your company and the level of repayments that your business is able to afford. The amount you receive from your loan will depend on the specific circumstances for your business.
When you make an application for one of our business loan, we’ll assess the risk profile for your business and provide you with a customised proposal that includes the amount of the loan, the duration and the interest rates. It is a company loan is an upfront priced loan so you will be aware in advance of the total amount to be paid, including any interest rates, fees or charges.
The interest rates on business loans rates depend on a variety of factors such as the amount that is borrowed, the business assets the funds are used to purchase and the sector the company operates in, the long the business has been operating for, in the event that the company has enough cash flow to cover the loan, and also the general health or creditworthiness of the company.
There are no hidden costs with our company loans. You’ll know precisely what you’ll be required to pay, and at what time, from the first day. There’s no compounding interest and no extra fees (as long as you are able to make your payments on time).
We do not charge an application fee. You are able to get a cash loan without any upfront costs or commitment to apply.
The Origination Fee is the cost associated with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can choose to repay all of your loan in full at any time.
If you decide to take this route, please speak to our friendly company lending experts. The professionals will offer you with details on repayment as well as an early payout amount. It will be calculated using the sum of the principal balance and accrued interest to the time of early payment and 1.5 percent of the remaining principal plus any outstanding fees.
To make sure that you don’t miss due dates and also to be in line with your cash flow general, we offer repayments either weekly or daily. They will be automatically deducted from your business account.
Making sure that your information is secure, and being clear about the ways we gather information, use it, and exchange it, as well as safeguard your data, is crucial and is an essential part of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and security. We employ an exceptionally sophisticated bank verification system to instantly verify your bank account information online so we can provide rapid response.
The term "asset-based" refers to borrowing where the company owner makes use of an asset they own to make the funds for a loan. The asset can be either an asset belonging to the personal, like the family home, or it could be a business asset like a truck or piece of equipment.
The majority of banks, not just the largest banks, are inclined to guarantee loans against an asset. If you are having difficulty paying back the loan, then your asset may be transferred to the lender. In essence, it is the process of securing additional financing making use of the value of what you already have.
For loans up to $150,000 no asset security is required before you are able to access the money but we do require the personal guarantee. As long as you follow your loan commitments (as specified in your loan contract) Asset security will never be needed. If you take out loans in excess of $150,000 generally, there is personal guarantee and security in the form of the charge of assets.
