The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Check out the conditions of eligibility for our $100K-$500K company loans.
All that’s required for starting is your contact information (the name of your company, your name, email, phone) and the amount you’d like to borrow, as well as your monthly income.
Through the process and before settlement we’ll need confirmation of your identity, but not before we can begin:
In addition, once we have started with loans of more than $150,000 you will also require the following financial statements:
Let’s get started now.
Gold Coast unsecured loans offers the range of $5,000 to $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either daily or weekly.
You can apply to get your Small Business Loan in under 10 minutes on the internet or by phone. You will receive a same day response and have the funds in your account within 24 hours. Traditional company loans reference an annual interest rate plus other fees and charges. Our company loan is a pre-paid loan and you’ll be aware in advance of the total amount due, which includes any fees, charges or charges. Then, it is broken down into either a daily or weekly installment amount.
The Small Business Loan can be used for virtually any business reason, such as control of cash flow company remodels and marketing to purchase inventory, new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term for up to 36 months. Repayments are weekly or fortnightly, depending on your cash flow.
The Larger Business Loan has an Origination Fee which is determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to have been trading for at least 3 years with an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A large business loan can be used for almost any business use, including business improvements, purchasing inventory or new equipment, as general working capital and so much more. The loan is not available for personal reasons.
Asset security is needed to access funding over $150,000. It’s by taking a charge against assets, and could include registering this with the PPSR or the registration of as a caveat.
A personal or director’s guarantee is a guarantee to repay a loan which is generally based rather than specifying security over an asset. The person who is signing the ensure is personally accountable if the business the borrower fails to pay back 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 objects or assets). The PPSR gives prioritisation over property that is personal to be granted according to the date the registration of a security interest.
Caveats are legal form of document to provide the legal claim on a property.
If you’re applying for an enterprise loan of $250K or more we may be able to provide an initial pre-approval in order to ease the process. We might be able to apply for this without a credit check and within six hours of your initial application. The pre-approval is based upon an initial assessment, which involves answering a couple of financial health checks. It’s in no way an offer, nor is it a guarantee of financing. A conditional approval is subject a full credit assessment and any offer you are offered could have different conditions.
You may be eligible for a company loan if you;
The application process is fast and easy. Just complete the online application within a few minutes and an experienced business loan specialist will be in touch to help you.
To apply for up to $100,000, you’ll require proof of identity (valid Driver’s License) and a valid NZBN/IRD as well as at least six months worth of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of bank statements, IRD statement (if credit is over $150K).
$250K-$500K: Details for application including credit consent, 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, plus interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we typically provide an answer in just one hour if you submit your request within quality business times and let us use the advanced bank verification system link to instantly verify your bank information online. If you opt to upload copies of your banking statements , we will be able to offer an answer within just an business day.
For Larger Business Loans ($100K to $500K) we could be in a position to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be quicker based upon the circumstances for each application. Some transactions have received approval in the space of 24 hours.
The most effective method is to ensure you apply during standard business hours, and allow us to use our modern bank verification link to instantly verify your bank account information online. If you decide to upload duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer in just one hour – as long as you apply within normal business timings and let us utilise the advanced bank verification system to instantly verify your bank details online. If you choose to upload copies of your bank statements we can offer a decision within 1 business day.
For Larger Business Loans ($100K up to $500,000) we might be likely to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some deals have been approved in less than 24 hours.
The most effective method can be ensure you apply during normal business hours, and permit us to use the advanced bank verification system to check your bank’s information online. If you opt to send us the copies of bank statements, it will take a little longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a particular amount, we consider a variety of variables that determine what is the health for your company and the level of repayments that your business will be able to support. The total amount of your loan will depend on the specific circumstances for your business.
When you submit an application for a certain amount, we take into consideration a variety of aspects to assess your well-being of your business and the amount of repayments that your business is able to afford. The amount you receive from the loan will be determined by the particulars of your company.
If you decide to request business loans with us business loan, we will assess the risk profile that you have for your business and provide an individualised offer, including the amount of loan, the term and interest rates. It is a business loan is an upfront priced loan and you’ll know in advance the total amount payable including any costs, fees, or interest rates.
The interest rates on business loans rates depend on several factors including the amount that is borrowed, what business assets the funds are used to purchase in addition to the industry that the business is operating in, how long the business is in operation and whether the company has sufficient cash flow to cover the loan, as well as the overall health or creditworthiness of the business.
There aren’t any hidden charges for our business loans. You’ll be aware of the amount it is that you be required to pay, and when, right from the day you sign up. There’s not any compounding interest and there are no additional charges (as long as you make your payments in time).
We don’t charge an Application Fee. You can apply for a loan no cost upfront or any obligation to sign up.
The Origination Fee covers the costs associated with setting up and managing the loan. You are only charged this fee if you decide to take the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can decide to repay all of your loan in full at any time.
If you decide to pursue this option, please speak to our friendly company credit experts. They’ll provide you with details for repayment and an early payment figure. This will be calculated as the total of the principal balance and the accrued interest up to the time of the early payout and 1.5 percent of the principal remaining and any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we provide repayments either weekly or daily. They are automatically deducted from your nominated company account.
Protecting your information, and being upfront about the ways we gather the information we collect, use, share and ensure the security of your information is crucial and is a crucial element of our relationship with you.
Yes. We make use of industry-standard encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our dedication to customer security and privacy. We employ a highly sophisticated bank verification system link to instantly confirm your bank account information online. This allows us to provide a fast response.
Asset-based borrowing occurs when a business owner uses the assets they have to get a loan. The asset could be an individual asset, such as the family home, or an business asset like a truck or piece or equipment.
The majority of lenders, not just the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, the asset might be taken over by the lender. In essence, it’s an opportunity to secure new financing making use of the value of what you already own.
For loans that exceed $150K, no asset security is required prior to the loan’s access, however we do need the personal guarantee. In the event that you fulfill your loan obligations (as specified in your loan contract document) the security of assets is not needed. For loans over $150,000 generally, you can get personal guarantee and security that is in the form an asset charge.
