The requirements for obtaining an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Need more funds? Take a look at the conditions of eligibility for our $100K-$500K company loans.
All that’s required to begin is your contact information (the name of your company, your name, email and phone), how much you want to borrow, and your monthly income.
During the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
After we start, for loans greater than $150,000 you’ll also require basic financial statements.
Let’s get started now.
Gold Coast unsecured loans provides the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
The application to get this Small Business Loan in under 10 minutes online or by phone. You will receive a same day response and have the funds in your account within 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. We offer a company loan is a pre-paid loan which means you be aware of the total amount payable including any fees, interest or charges. This is then divided into weekly or daily repayment figure.
A Small Business Loan can be used to fulfill almost any company need, such as the management of cash flow, company remodeling, marketing for purchasing inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. Loans range between $100,000 and $500,000 with a term fixed for up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the amount of the loan.
To qualify for a loan in this amount the business needs to be operating for at least three years, and have an annual income of $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A larger company loan can be used for nearly all company purpose including business renovations, to purchase inventory or new equipment or as general working capital and much more. The loan is not available for personal use.
Asset security is required for accessing funds over $150,000. It is usually in the form of a charge on assets, which could also be registered with the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is generally based rather than specifying security over a particular asset. The person signing the guarantee is personally accountable if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests which are registered with respect to personal property (including items or assets). The PPSR grants preference over private property granted according to the date the security interest was registered.
An affidavit is an official document lodged to provide an official notice of a claim on a property.
If you’re applying for larger business loans that is greater than $250K we may be able to provide an initial pre-approval in order to make the process. It is possible to get this done without a credit check, and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial health checks. This is not an offer or guarantee of credit. A conditional approval is subject a full credit assessment and any offer that you may receive may be subject to different conditions.
You are eligible to apply for a business loan if you;
The application process is quick and simple. Just fill out the online application within a few minutes and a dedicated company lending specialist will be in touch to guide you through the process.
For a loan of up to $100,000 you’ll need proof of identity (valid Driver’s License) along with a valid NZBN/IRD and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K to $500K: Application details including credit consent, 12 months bank statement, an IRD statements, last 2 years finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K and up) we typically offer an answer within one hour, provided you make your application at quality business time and permit us to make use of the advanced bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can provide a decision in as little as one business day.
For the Larger Business Loan ($100K and up) we may be in a position to offer you with a conditional pre-approval within about six hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this can be quicker based on the particular circumstances of each application. Some agreements have been approved in 24 hours.
The quickest method would be to make sure you apply during normal company hours, and permit us to use the modern bank verification link to instantly check your bank’s information online. If you opt to upload duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K to $100K) we typically provide an answer within an hour if you submit your request at standard business times and you allow us to make use of the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements, we’ll be able to offer an answer within an business day.
For the Larger Business Loans ($100K or more) we might be in a position to provide the conditional pre-approval within 6 hours. Once you have signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this could be shorter based on the specifics of each application. Some deals have been approved in just 24 hours.
The fastest method for you to apply is make sure you apply during standard business hours. Also, let us use the modern bank verification link to check your bank’s information online. If you choose to upload the copies of bank statements it takes a bit longer.
We offer loans that range from $5,000 to $500,000. When you make an application for a certain amount, we will consider a number of factors for determining how much we can lend you health of your business and the amount of the repayments your business will be able to support. The total amount of your loan will depend on the particular circumstances the company.
When you apply for a certain amount, we will consider a number of factors to determine how much we can lend you such as well-being of the business and the extent of the repayments your company is able to afford. The total amount of your loan will be determined by the specifics the business.
If you decide to make an application for business loans with us company loans, we’ll assess the risk profile that you have for your company and provide an individualised offer, including the loan amount, the terms and interest rates. The company loan is an upfront cost loan so you will be aware of the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for business loans rates depend on several factors including the amount of money borrowed, the company assets the money will be used for as well as the field the business operates in, the long the company has been in operation for, whether the company has enough cash flow to fund the loan, and also the overall well-being or financial standing of the company.
There aren’t any hidden costs with our business loans. You’ll be aware of the amount you be required to pay, and at what time, from the first day. There’s no compounding interest, and there are no additional charges (as as you make your payments in time).
We do not charge an application fee. You are able to get a cash loan with without any upfront costs or any obligation to sign up.
The Origination Fee is the cost associated with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can decide to repay all of your loan at any point in time.
If you do decide to pursue this option, please talk to one of our helpful company credit experts. They’ll provide you with the details of your repayment and an early payment figure. This is calculated as the sum of the principal remaining and the accrued interest up to the time of early payment plus 1.5 percent of the principal amount remaining and any outstanding fees.
In order to help you avoid missing repayments and to fit in with your cash flow cycle we provide repayments either weekly or daily. They will be automatically deducted from the nominated company account.
Making sure that your information is secure, and knowing how we collect, use, exchange and secure your information, is of huge importance and a vital aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their security. We utilise a sophisticated banking verification system to instantly verify your bank account information online, allowing us to provide a fast response.
Asset-based borrowing occurs when the company owner utilises an asset that they own to get the funds for a loan. The asset can be an individual asset, such as the family home, or it could be a company asset such as a truck or other piece of machinery.
The majority of the lenders not just the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan then the asset could be transferred to the lender. In essence, it’s an opportunity to secure new financing using the worth of the asset you already own.
For loans up to $150,000 it is not necessary to secure assets before you can access the money, however we do need the personal guarantee. In the event that you fulfill the terms of your loan (as stipulated in the loan contract), asset security is not needed. For loans that exceed $150K, typically, you will need an individual ensure and security that is in the form the charge of assets.
