The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K is fairly low.
Looking for more funding? Find out the guidelines for eligibility for our $100K to $500K business loan.
All you need for starting is your contact information (company name, your name, email or phone number) along with the amount you want to borrow, and your monthly earnings.
During the process and before settlement we will require confirmation of your identity, but not to get started:
Additionally after we get started when it comes to loans of more than $150,000 you’ll also need the following financial statements:
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Gold Coast unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
You can apply to this Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get a same day response and funds may be available in just 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. We offer a business loan is a loan that is priced upfront therefore you’ll be aware of the amount you will have to pay, including the interest, fees and charges. This is then divided into a daily or weekly payment amount.
The Small Business Loan can be used for virtually any business reason, such as cash flow management, company improvements, advertising for purchasing inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans are between $100,000 and $500,000 for a fixed period of up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
This Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large, your company needs to be operating for a minimum of 3 years and generate an annual revenue of $700K. Your company must belong to 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 demonstrate at the least 12 months of operating.
A large company loan can be used to fund almost all business use, including company improvements, purchasing new equipment or inventory, as general working capital and much more. The loan cannot be used for personal purposes.
Asset security is needed to obtain funding above $150,000. This is in the form of a charge on assets, which could also be registered in the PPSR or registering a caveat.
A personal or director’s ensure is a promise to pay back a loan that is general in nature rather than specifying the security of a specific asset. The person signing the ensure is personally liable in the event that the company creditor is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including the assets or goods). The PPSR permits the priority of personal property assigned in accordance with the date on which a security interest that is registered.
Caveats are legal document filed to offer the public notice of a legal claim to property.
If you’re seeking the Larger Business Loan of $250K or more we can offer an initial pre-approval that will help smooth out the process. We might be able to get this done without a credit check and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial well-being questions. It is in no way an offer, nor is it a guarantee of credit. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you are offered could be based on different terms.
You may apply for a company loan if you:
The application process is quick and easy. Simply complete the online form in just a few minutes, and an experienced business credit specialist will call you to guide you.
To apply for up $100,000 you’ll require ID details (valid Driver’s Licence), an NZBN/IRD that is valid and at least six months of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K-$500K: Details for application including credit consent as well as 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, plus interim financials from the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K up to $100,000) we usually provide an answer within one hour, provided you make your application at standard company hours and permit us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your banking statements we can offer a decision within 1 company day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to offer the conditional pre-approval within 6 hours. After you’ve signed your pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, it could be faster based on the specifics of each application. Certain transactions have received approval within less than 24 hours.
The fastest way would be to make sure you apply during standard company hours and allow us to use the advanced bank verification system link to verify your bank account information online. If you upload copies of your bank accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we typically offer an answer within one hour, provided you submit your request at normal business timings and you allow us to use the advanced bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statement, we’ll provide a decision within one business day.
For Larger Business Loans ($100K and up) we might be likely to offer you with conditional pre-approval in around 6 hours. Once you’ve signed the pre-approval form, it will take between 2 and 3 days for the final approval, however this may be quicker depending on the particular circumstances of each application. Some agreements have been approved in less than 24 hours.
The fastest way is to ensure you apply during normal business hours, and let us use the sophisticated bank verification to verify your bank account information online. If you upload documents from your account accounts, it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. When you submit an application for a specific amount we take into consideration a range of variables for determining what is the well-being for your company and the extent of the repayments your company will be able to support. The amount you receive from your loan will depend on the specific circumstances for your company.
If you apply for a set amount, we take into consideration a variety of aspects to determine your well-being of your company and the level of repayments your company is able to afford. The total amount of the loan will be determined by the specific circumstances for your business.
When you request our business loans, we’ll assess the risk assessment that you have for your company and offer you with a customised proposal that includes loan amount, term and interest rates. The business loan is an upfront cost loan which means you know the exact amount due, which includes any charges or interest.
Business loan interest rates depend on several factors including the amount of money borrowed, the business assets the money will be used for as well as the field the business is in, how long the company has been in operation for, how long the company has sufficient cash flow to cover the loan, and the overall health or creditworthiness of the company.
There aren’t any hidden costs with our company loans. You’ll be aware of the amount you need to pay, and when, right from day one. There’s no 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 get a cash loan without any upfront costs or the obligation to take action.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5 percentage of the loan amount.
You can repay the entire amount of the loan in full at any time.
If you decide to take this route, please talk to one of our helpful company loans experts. They’ll provide you with the details of your repayment along with an early payout estimate. It will be calculated using the total of the principal balance plus any accrued interest as of the time of early payout and 1.5 percent of the principal balance and any fees that remain unpaid.
To ensure you do not miss repayments and to fit in your cash flow schedule, we provide payments that are either weekly or daily. They are automatically deducted from the nominated business account.
Security of your data, and being clear about the ways we gather data, process, exchange and safeguard your data, is vital and an integral part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal and financial data and our funders are ISO 27001 certified for our dedication to protecting the security of clients and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online. This allows us to provide rapid response.
An asset-based loan is when a company owner uses an asset they own to get the funding. The asset can be either an individual asset, such as the family home or a business asset like a truck or piece of equipment.
The vast majority of banks, even the largest banks, are inclined to guarantee loans against an asset. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence it is a way of securing new funding making use of the value of what you already have.
For loans that exceed $150K, the requirement for asset security is not required upfront to access the money, however we do require the personal guarantee. As long as you follow your loan obligations (as detailed in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans that exceed $150K, generally there is a personal ensure and security is provided in the form of an asset charge.
