The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Need more funds? Check out the eligibility requirements for our $100K-$500K company loan.
All that is needed to get started is your contact details (the name of your company and your name, as well as email or phone number) along with the amount you want to borrow, as well as your monthly income.
Through the process and before settlement we’ll require confirmation of your identity, but not for starting:
After we start with loans over $150,000 you’ll also require basic financial statements.
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Gold Coast unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an answer within the same day and funds may be available in just 24 hours. Traditional company loans have an annual interest rate together with additional fees and charges. Our business loan is an upfront priced loan which means you be aware of the total amount due, which includes the interest, fees and charges. Then, it is broken down into either a daily or weekly repayment figure.
It is a Small Business Loan can be used for nearly every business purpose including control of cash flow business renovations, marketing, to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. The repayments are made weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the amount of the loan.
To be eligible for a loan that is this large, your company needs to have been operating for at least three years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A larger company loan is a great option for almost any company need, including business renovations, purchase of inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
Asset security is required to access funding over $150,000. It is usually by taking a charge on assets, and could be registered through the PPSR or registering a caveat.
A director’s or personal ensure is a commitment to repay a loan which is generally in nature rather than specifying security over a particular asset. The person signing the ensure is personally liable if the company the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online central register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including items or assets). The PPSR grants preference over private property assigned according to the date the security interest was registered.
Caveats are legal document that is filed to offer the legal claim to property.
When you’re applying for larger company loans of $250K or more we can offer an initial pre-approval to ease 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 evaluation that involves the answer to a series of financial health checks. This is not an offer of credit or guarantee of credit. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be on different conditions.
You may be eligible for an business loan if you
The process for applying is fast and easy. Complete the online form within a few minutes and an experienced business loan specialist will call you to help you.
To be eligible for up to $100,000 you’ll require the right identification documents (valid Driver’s Licence) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll also need:
$100K-$250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent and 12 months of bank records, IRD statement as well as the two most recent years’ financial statements, as well as interim financials from the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K and up) we usually provide an answer within an hour, provided you apply in standard business hours and you allow us to utilise the bank verification system to immediately verify your bank account information online. If you choose to upload copies of your bank statements we can offer an answer within 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 in around six hours. After you’ve signed your pre-approval document, you will require to wait between 2 and 3 days for the final approval. However, this can be quicker based upon the circumstances for each application. Certain offers have been approved in the space of 24 hours.
The fastest way can be make sure you apply during standard business hours, and let us use the modern bank verification to confirm your bank details online. If you upload copies of your bank statements , it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer a response in one hour – provided you apply during standard business hours and allow us to make use of the advanced bank verification system link to instantly verify your bank’s information online. If you choose to send us copies of your bank statements we can provide the decision in as little as one business day.
For Larger Business Loans ($100K to $500K) we might be capable of provide you with conditional pre-approval in about six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this could be shorter based on the particular circumstances of each application. Some transactions have received approval within less than 24 hours.
The quickest method for you to apply is make sure you apply during normal business hours and let us use the advance bank verification to verify your bank account information online. If you choose to upload documents from your account statements, it takes a bit longer.
We provide loans ranging from $5,000 to $500,000. If you apply for a specific amount we consider a variety of aspects in order to assess your health that is your business and the level of repayments that your business can support. The total amount of your loan will depend on the particular circumstances that are unique to your company.
When you make an application for a particular amount, we look at a range of aspects to determine the well-being that is your company as well as the amount of repayments that your business can support. The amount you receive from the loan will be determined by the specifics for your business.
If you decide to make an application for our business loans, we will assess the risk profile that you have for your business and provide you with a customised offer that includes loan amount, term and interest rates. It is a business loan is an upfront cost loan so you will know in advance the total amount payable including any charges or interest.
Business loan interest rates depend on a variety of factors like the amount of money borrowed, what company assets the money will be used for, the industry the company operates in, the long the company is in operation and in the event that the company has sufficient cash flow to support the loan, and overall health as well as creditworthiness company.
There are no hidden fees with our business loans, and you’ll know precisely what it is that you need to pay and when, from the first day. There’s no compounding interest, and no extra fees (as as long as you pay your payments punctually).
We do not charge an Application Fee. You are able to apply for a loan absolutely no upfront cost and no obligation to proceed.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can repay the total amount of your loan at any point in time.
If you decide to do this please speak to our friendly company loan experts. We will offer you with repayment details as well as an early payout amount. It will be calculated using the total of the remaining principal amount and accrued interest to the date of early payout, plus 1.5 percent of the remaining principal plus any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow schedule, we offer repayments either daily or weekly. These are automatically deducted from your business account.
The security of your personal information, as well as being transparent about how we collect, use, exchange and protect your information, is vital and a vital element of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our dedication to security for our customers and security. We make use of an advanced bank verification system to instantly verify your bank account information online so we can offer a fast response.
The term "asset-based" refers to borrowing where the company owner makes use of the assets they have to obtain the funding. The asset can be an individual property, such as the family home, or an company property like a truck or piece of equipment.
The majority of the lenders including the big banks, tend to guarantee loans against assets. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence, it is an opportunity to secure new financing by taking advantage of the value of what you already have.
For loans of up to $150K, no asset security is required prior to the loan’s access but we do need the personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract) Asset security will never be needed. For loans of over $150,000 generally there is the option of a personal guarantee and security that is in the form a charge over assets.
