The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Need more funds? Take a look at the guidelines for eligibility for our $100K-$500K business loans.
All that’s required to get started is your contact information (the name of your company, your name, email address and phone), how much you want to borrow, as well as your monthly income.
While in the process and before settlement we’ll require confirmation of your identity but not to get started:
After we start, for loans of more than $150,000 you’ll also need fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply to your Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and have the funds in your account in 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. The company loan is a loan that is priced upfront therefore you’ll be aware of the total amount to be paid, including the interest, fees and charges. This is then broken down into either weekly or daily payment amount.
A Small Business Loan can be used for virtually every business purpose including the management of cash flow, business remodels and marketing, to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly, depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan that is this large the company needs to be in operation for at least 3 years and generate an annual revenue of $700K. You must be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Business Loan of a larger size can be used for nearly any business need, including business improvements, purchasing new equipment or inventory for general working capital and much more. The loan is not available to fund personal expenses.
Asset security is necessary for funding of more than $150,000. It’s as a result of an charge over assets, and could include registering this in the PPSR or registering as a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line 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 business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR permits the priority of personal property granted in accordance with the date on which a security interest has been registered.
A caveat is a legal document lodged to offer notice of a legal claim to property.
If you’re seeking a Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval to make the process. We could be able to do this without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial evaluation that involves answering a couple of financial health checks. This is not an offer of credit or guarantee of financing. A conditional approval is subject an extensive credit evaluation and any offer you receive could be on different terms.
You may be eligible for an business loan if you;
The application process is fast and simple. Simply complete the online form in just a few minutes, and a dedicated company loan specialist will be in touch to guide you through the process.
To apply for up $100,000 you’ll need proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also need:
$100K to $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details of the application, including credit consent as well as 12 months bank statement, an IRD statement and the last two years’ finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K and up) We can usually provide an answer within an hour, provided you apply at standard business 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 send us copies of your bank statements , we will be able to offer the decision within the span of one business day.
For the Larger Business Loan ($100K up to $500,000) we may be capable of offer the conditional pre-approval in about 6 hours. Once you’ve signed the pre-approval document, you will need to wait 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 quickest way to apply would be to ensure you apply during normal company hours, and let us use the advanced bank verification system link to verify your bank account information online. If you decide to send us documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within an hour – provided you apply within standard business hours and let us use the bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statements, we are able to provide an answer within an business day.
If you are applying for Larger Business Loans ($100K or more) we may be capable of offer you with conditional pre-approval within about 6 hours. Once you have signed the pre-approval, turnaround times are about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Some transactions have received approval in the space of 24 hours.
The fastest way can be ensure you apply during normal business hours. You can also permit us to use the advanced bank verification system to instantly check your bank’s information online. If you opt to upload copies of your bank statements it may take a bit longer.
We provide the loan amount between $5,000 and $500,000. When you make an application for a certain amount we look at a variety of aspects in order to assess your well-being that is your business and the extent of repayments your company is able to afford. The total amount of your loan will depend on the specific circumstances that are unique to your company.
When you make an application for a certain amount, we will consider a number of variables to determine how much we can lend you such as health of the business and the level of repayments that your company can afford. The total amount of your loan will be determined by the particular circumstances that are unique to your company.
When you apply for the business loan, we will assess the risk profile for your company and offer you with a tailored proposal that includes the amount of the loan, the duration and the interest rates. The business loan is an upfront-priced loan which means you be aware of the total amount to be paid, including any costs, fees, or interest rates.
Business loan interest rates depend on several factors like the amount of money of money borrowed, the company assets the funds will be used for in addition to the industry that the company operates in, how long the company has been in operation for, whether the business has sufficient cash flow to support the loan, and general health and creditworthiness of the business.
There aren’t any hidden charges with our company loans, and you’ll be aware of the amount you’ll be required to pay and when, 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 in time).
We don’t charge an Application Fee. You can request a credit loan with absolutely no upfront cost and no the obligation to take action.
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. Our Origination Fee is 2.5 percent of the amount of the loan.
You can decide to repay all of your loan at any point in time.
If you are deciding to do this please call our helpful business credit experts. We will provide you with details for repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of the early payout, plus 1.5% of the principal remaining and any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow general, we offer repayments that are either weekly or daily. They will be automatically deducted from your designated business account.
Protecting your information, and knowing the ways we gather data, process, exchange and protect your information, is of paramount importance and an integral element of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We use an advanced bank verification system link to immediately confirm your bank account information online, allowing us to offer quick responses.
An asset-based loan is when a company owner borrows from assets they own to secure a loan. The asset can be either a personal asset like the family home, or it could be a business property like a truck or piece or equipment.
The 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 sold by the lender. In essence it’s the process of securing new financing using the worth of the asset you already have.
For loans up to $150K no asset security is required prior to the loan’s access However, we do need a personal guarantee. As long as you follow your loan commitments (as specified in your loan contract) and you are able to meet your obligations, asset security will never be needed. For loans of over $150K typically, you will need personal ensure and security is provided in the form of a charge over assets.
