The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are pretty minimal.
Do you need more money? Find out the guidelines for eligibility for our $100K-$500K company loans.
All that’s needed to get started is your contact information (the name of your company, your name, email address and phone) as well as the amount you want to borrow, and your monthly earnings.
During the process and before settlement we’ll need confirmation of your identity but not to get started:
After we start when it comes to loans greater than $150,000 you’ll also require fundamental 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, cash flow-friendly repayments, which are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes via the internet or by phone. You will receive a same day response and the funds could be in your account within 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. This business loan is an upfront priced loan and you’ll be aware in advance of the total amount due, which includes any fees, interest or charges. This is then divided into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for virtually any business reason, such as managing cash flows, company remodels and marketing for purchasing inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed with a maximum of 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the loan amount.
To qualify for a loan in this amount the company needs to be in operation for at least 3 years and generate an annual revenue 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 company (with a valid NZBN/IRD) and be able to prove at the least 12 months of operating.
A larger company loan can be used to fund almost all company need, including company renovations, to purchase equipment or inventory for general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This is in the form of a charge against assets, and may include registration through the PPSR or making a caveat.
A personal or director’s ensure is a promise to pay off a credit line that is generally in nature rather than defining security over an asset. The person who signs the ensure is personally liable in the event that the business borrower 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 reflects security interests which are registered with respect to personal property (including goods or assets). The PPSR grants priority over personal property to be assigned in accordance with the date on which a security interest that is registered.
An affidavit is an official document filed to provide an official notice of a claim on a property.
If you’re requesting a Larger Business Loan of more than $250,000, we may offer a preliminary pre-approval to help smooth out the process. We could be able to make this decision without credit checks and within 6 hours of your initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial health checks. This is not an offer or guarantee of funds. A conditional approval is subject an assessment of your creditworthiness and any offer you may receive may be on different conditions.
You are eligible to apply for a company loan if you
The application process is simple and easy. Complete the online form in few minutes and an experienced company expert in lending will call you to help you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s License) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll require:
$100K-$250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K-$500K: Details of the application, including credit consent, 12 month bank accounts, the IRD statements Last 2 years’ finalised financial statements, and interim financials for the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K to $100K) we can often provide an answer in just one hour, provided you submit your request during standard company times and allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you decide to upload copies of your banking statement, we’ll offer the decision in just the span of one company day.
For the Larger Business Loan ($100K to $500K) we might be able to offer you with pre-approval conditional to your application in about 6 hours. After you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Some agreements have been approved in less than 24 hours.
The quickest way to apply for you to apply is make sure you apply during normal business hours. Also, allow us to use our advance bank verification to verify your bank information online. If you opt to send us copies of your bank accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) we usually offer a response in one hour – provided you submit your request at normal business timings and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you want to submit copies of your bank statements, we are able to provide an answer in as little as the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we may be able to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval. However, this can be faster depending upon the circumstances for each application. Certain deals have been approved within 24 hours.
The most effective method can be ensure you apply during normal business hours, and permit us to use the sophisticated bank verification to check your bank’s information online. If you decide to upload documents from your account statements, it will take a little longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a certain amount, we consider a variety of aspects to determine what is the health of the company and the level of payments your company can afford. The amount you receive from your loan will depend on the specific circumstances for your business.
When you apply for a certain amount, we will consider a number of elements to determine how much we can lend you such as health for your company and the level of the repayments your company will be able to support. The total amount of the loan will be determined by the specifics the business.
When you request one of our business loan, we will assess the risk profile that you have for your business and offer you with a customised offer, including the loan amount, the terms and the interest rates. The company loan is an upfront cost loan therefore you will be aware in advance of the total amount you will have to pay, including charges, interest rates or fees.
Business loan interest rates differ based on various variables like the amount to be that is borrowed, what business assets the money will be used for and the sector the company is in, how long the business is in operation, whether the business has enough cash flow to support the loan, and general health and creditworthiness of the company.
There are no hidden costs with our company loans, and you’ll know precisely what you’ll need to pay and at what time, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments on time).
We don’t charge an Application Fee. You are able to get a cash loan with without any upfront costs or commitment to apply.
The Origination Fee is the cost associated with the setting up and management of the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5% of the amount of the loan.
You can decide to repay all of your loan at any point in time.
If you do decide to pursue this option, please speak to our friendly company credit specialists. They’ll offer you with details for repayment as well as an early payout amount. This will be calculated as the sum of the principal remaining and the accrued interest up to the date of early payout and 1.5% of the principal amount remaining and any fees that remain unpaid.
To help you avoid missing repayments and to fit in with your cash flow routine, we provide repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
Protecting your information, and being clear about the ways we gather information, use it, and exchange it, as well as safeguard your data, is of huge importance and an integral part of our relationship you.
Yes. We utilise industry-recognised encryption techniques to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of customers and security. We utilise a sophisticated banking verification system to instantly verify your bank account information online to offer rapid response.
Asset-based borrowing occurs when a business owner borrows from the assets they have to secure the funds for a loan. The asset can be either an individual property, such as the family home, or it could be a company asset like a truck or piece or equipment.
The vast majority of lending institutions, including the banks with the biggest size, prefer to secure loans against an asset. If you’re having trouble paying back the loan, the asset might be taken over by the lender. In essence, it is an opportunity to secure new funding using the worth of the asset you already own.
For loans of up to $150,000, there is no requirement for asset security before you can access the money but we do require an individual guarantee. In the event that you fulfill the loan terms (as stipulated in your loan contract document) the security of assets is not required. If you take out loans in excess of $150,000 typically, you will need an individual ensure and security is provided in the form of the charge of assets.
