The requirements for getting an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Review the conditions of eligibility for our $100K-$500K company loans.
All that’s required to begin is your contact information (company name, your name, email and telephone), how much you’d like to lend, and your monthly income.
In the course of the process and before settlement we will require confirmation of your identity, however, not in order to begin:
After we start, for loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 month and cash flow friendly repayments, which are either daily or weekly.
The application to get this Small Business Loan in under 10 minutes over the phone, receive an answer within the same day and the money could be in your account within 24 hours. Traditional company loans refer to an annual interest rate along with other charges and fees. Our business loan is a cash-based loan which means you be aware of the total amount payable including any interest, fees or charges. This is then broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for almost every company use, including control of cash flow company remodeling, marketing for purchasing inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. The loan ranges from $100,000 to $500,000 for a fixed period of that can last up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
A 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 credit in this amount, your business needs to have been in operation for at least 3 years and generate an annual revenue of at least $700,000. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used to fund almost all business purpose including company renovations, to purchase equipment or inventory or as general working capital and much more. The loan cannot be used for personal reasons.
Asset security is needed for accessing funds over $150,000. It’s as a result of an charge over assets, and could include registering this on the PPSR or making a caveat.
A personal or director’s ensure is a commitment to repay credit that is general in nature, rather than stating security over an asset. The person signing the ensure is personally responsible if the business creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests that are registered for personal property (including the assets or goods). The PPSR gives the priority of personal property assigned according to the date the registration of a security interest.
The caveat can be described as a formal document that is filed to provide the legal claim to a property.
If you’re applying for a Larger Business Loan of $250,000 or more it’s possible to offer an initial pre-approval that will help make the process. We may be able to make this decision without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes answering a couple of financial health checks. This is not an offer or guarantee of funds. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you receive could be subject to different terms.
You can apply for a business loan if you:
The application process is quick and easy. Just fill out the online application within a couple minutes, and an experienced company loan specialist will contact you to assist you.
To be eligible for up to $100,000, you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll require:
$100K-$250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Application details including credit consent and 12 months of bank records, IRD statements, last 2 years finalised financial statements, in addition to interim financials for the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we typically provide an answer in just one hour, provided you submit your request within quality company hours and permit us to use the advanced bank verification system to instantly verify your bank information online. If you opt to upload copies of your banking statements , we’ll be able to offer the decision within just 1 company day.
For Larger Business Loans ($100K to $500K) we might be in a position to offer you with conditional pre-approval in about 6 hours. After you’ve signed your pre-approval form, it will take between 2 and 3 days for the final approval. However, this could be shorter based upon the circumstances for each application. Certain deals have been approved within less than 24 hours.
The fastest way can be ensure you apply during normal business hours, and allow us to use the modern bank verification link to instantly verify your bank account information online. If you decide to send us the copies of bank accounts, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer in just one hour – provided you apply in standard business timings and allow us to use the bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statements, we are able to offer a decision in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be in a position to provide you with a conditional pre-approval in around six hours. Once you have signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending upon the circumstances for each application. Certain deals have been approved in 24 hours.
The fastest method would be to ensure you apply during standard business hours and allow us to use the advanced bank verification system to check your bank’s information online. If you choose to send us documents from your account statement, it may take a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a specific amount we take into consideration a range of variables for determining how much we can lend you health of your company and the extent of the repayments your business is able to afford. The total amount of the loan will be determined by the specifics the business.
If you apply for a particular amount, we look at a range of aspects to assess how much we can lend you such as well-being for your company and the extent of the repayments your business is able to afford. The amount you receive from the loan will be determined by the particulars the company.
If you decide to request our company loans, we’ll assess the risk profile of your company and provide you with a tailored offer including the loan amount, the terms and the interest rates. A business loan is an upfront-priced loan so you will know in advance the total amount payable including any interest rates, fees or charges.
Business loan interest rates vary due to factors such as the amount that is that is borrowed, what business assets the funds are used to purchase as well as the field the company is operating in, how long the company has been in operation, whether the business has enough cash flow to cover the loan, and also the general well-being or creditworthiness of the business.
There aren’t any hidden costs with our business loans. You’ll know precisely what you be required to pay and at what time, from the day you sign up. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments punctually).
We do not charge an application fee. You are able to apply for a loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee is the cost associated with setting up and managing the loan. It is only charged for 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 at any point in time.
If you decide to do this please speak to our friendly business loan specialists. We will offer you with details on repayment as well as an early payout amount. It will be calculated using the sum of the remaining principal amount plus any accrued interest as of the time of the early payout and 1.5% of the principal remaining and any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow schedule, we provide repayments either daily or weekly. These are automatically withdrawn from the nominated company account.
Security of your data, and knowing the ways we gather data, process, exchange and protect your information, is crucial and an integral part of our relationship you.
Yes. We use industry recognised encryption protocols to safeguard your sensitive, personal financial information 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 instantly verify the bank account details online to provide an immediate response.
The term "asset-based" refers to borrowing where the company owner uses an asset that they own to make the funding. The asset may be a personal asset like the family home or an company asset such as a truck or other piece of machinery.
The majority of the lenders including the big banks, tend to secure loans against an asset. If you are having difficulty paying back the loan, then your asset may be sold by the lender. In essence, it is an opportunity to secure additional financing making use of the value of what you already have.
For loans of up to $150K, there is no requirement for asset security upfront to access the money however, we do require a personal guarantee. In the event that you fulfill your loan obligations (as detailed in your loan contract document) and you are able to meet your obligations, asset security is not needed. If you take out loans in excess of $150,000 generally there is a personal guarantee and security that is in the form charges on assets.
