The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business loan.
All that’s required for starting is your contact details (the name of your company, your name, email or phone number) along with the amount you’d like to borrow, and your monthly income.
Through the process and before settlement we’ll require confirmation of who you are, but not to get started:
After we start in the process, for loans that exceed $150,000, you’ll also require fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans offers amounts of between $5,000 and $100,000. Terms range from 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
It is imaginable to apply to your Small Business Loan in under 10 minutes on the internet or on the phone. You’ll receive an immediate response, and have the funds on your account within 24 hours. Traditional company loans reference an annual rate of interest plus other fees and charges. The business loan is a cash-based loan so you will know ahead of time the total amount payable including any interest, fees or charges. Then, it is broken down into either weekly or daily payment amount.
A Small Business Loan can be used to fulfill almost any business use, including managing cash flows, business renovations, marketing to purchase inventory, new equipment, as general working capital and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger loan size to support company expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed that can last up to 36 months. The repayments are made weekly or fortnightly, depending on you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee, calculated at 2.5 percentage of the loan amount.
To qualify for a loan in this amount the business needs to be in operation for at least 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost every company purpose including company renovations, purchase of inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
Asset security is needed to access funding over $150,000. This is by taking a charge against assets and can include registering this in the PPSR or registering a caveat.
A director’s or personal guarantee is a promise to pay off a credit line that is generally in nature rather than stipulating the security for a particular asset. The person who signs the ensure is personally responsible if the business lender is not able to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests granted to individuals who own personal property (including items or assets). The PPSR grants the priority of personal property assigned depending on the date that a security interest that is registered.
An affidavit is an official document lodged to offer the legal claim against a property.
If you’re requesting an enterprise loan of more than $250,000 it is possible to offer a preliminary pre-approval to help make the process. It is possible to make this decision without credit checks and within 6 hours of your initial application. The pre-approval is based upon an initial assessment, which involves you answering a few financial well-being questions. It is not an offer of credit or guarantee of funds. A conditional approval is subject a full credit assessment and any offer that you may receive may have different terms.
You are eligible to apply for an company loan if you
The application process is simple and easy. Just complete the online application in just a few minutes, and a dedicated company expert in lending will contact you to guide you.
To apply for up $100,000, you’ll require proof of identity (valid Driver’s Licence) and an active NZBN/IRD, and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also require:
$100K-$250K: Details of application, including credit consent, 6 – 12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K-$500K: Application details including credit consent as well as 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, as well as interim financial statements for the current year including Aged Payables, Aged Receivables summary.
For an unsecured loan ($5K to $100K) We can usually offer an answer within an hour, provided you apply during standard company times and you allow us to make use of the advanced bank verification system link to instantly verify your bank information online. If you decide to upload copies of your bank statements we can offer the decision in just 1 company day.
For Larger Business Loans ($100K and up) we could be in a position to offer the conditional pre-approval within about 6 hours. After you’ve signed your pre-approval, turnaround times are about 2-3 days for final approval. However, this could be shorter based on the specifics of each application. Certain transactions have received approval within 24 hours.
The most effective method can be ensure you apply during standard company hours. Also, allow us to use the advance bank verification link to instantly verify your bank account information online. If you send us documents from your account statements it may take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer within one hour if you apply within standard business timings and permit us to make use of the advanced bank verification system to instantly verify your bank details online. If you decide to upload copies of your banking statements, we are able to provide the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be likely to provide you with conditional pre-approval in about six hours. Once you’ve signed your pre-approval form, it will take about 2-3 days for final approval, however this can be faster depending on the circumstances of each application. Certain deals have been approved within the space of 24 hours.
The fastest method can be ensure you apply during normal business hours. You can also permit us to use the advanced bank verification system to verify your bank information online. If you decide to send us duplicates of your banking statements, it will take a little longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we will consider a number of aspects in order to assess what is the health for your business as well as the amount of repayments that your business will be able to support. The amount you receive from the loan will be determined by the specific circumstances for your company.
When you make an application for a specific amount we consider a variety of factors to determine the well-being for your company and the amount of payments your business will be able to support. The total amount of the loan will be determined by the particular circumstances for your business.
If you decide to request one of our business financing, we’ll assess the risk profile that you have for your company and provide you with a customised proposal that includes the amount of the loan, the duration and interest rates. The company loan is an upfront priced loan which means you know the exact amount payable including any charges or interest.
Interest rates for company loans rates vary due to factors such as the amount that is that is borrowed, what business assets the funds will be used for and the sector the company is operating in, how long the company is in operation for, whether the company has sufficient cash flow to support the loan, as well as the general well-being or creditworthiness of the company.
There are no hidden fees with our company loans. You’ll know precisely what you’ll need to pay, and when, starting from the very first day. There’s no compounding interest and there are no additional charges (as long as you are able to make your payments on time).
We do not charge an application fee. You can make an application for loans without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of your loan early at any time.
If you do decide to take this route, please speak to our friendly business lending professionals. We will provide you with details on repayment and an early payment figure. This will be calculated as the sum of the principal amount remaining and any accrued interest at the time of early payout, plus 1.5 percent of the remaining principal and any fees that remain unpaid.
To make sure you do not miss repayments and to fit in with your cash flow cycle we provide repayments either daily or weekly. They will be automatically deducted from the nominated company account.
Making sure that your information is secure, and making it clear the ways we gather the information we collect, use, share and ensure the security of your information is vital and is an essential part of our relationship you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our dedication to protecting the security of customers and privacy. We utilise a sophisticated bank verification system that allows you to instantly confirm your bank account information online. This allows us to offer quick responses.
Asset-based borrowing occurs when a business owner uses an asset that they own to secure a loan. The asset can be an individual asset, such as the family home, or it could be a company property like a truck or piece or equipment.
The vast majority of the lenders even the largest banks, are inclined to make loans secured by assets. If you have trouble paying back the loan, then your assets could be sold by the lender. In essence, it’s means of securing new financing taking advantage of the value of what you already have.
For loans that exceed $150,000, the requirement for asset security is not required upfront to access the money however, we do need an individual guarantee. So long as you comply with your loan obligations (as specified in your loan contract document) Asset security will never be needed. If you take out loans in excess of $150,000 generally, you are able to get the option of a personal guarantee and security is provided in the form of an asset charge.
