The requirements for obtaining an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K company financing.
All you need for starting is your contact details (company name, your name, email or phone number) along with the amount you want to borrow, and your monthly revenue.
In the course of the process and before settlement we’ll need confirmation of who you are but not before we can begin:
After we start, for loans of more than $150,000 you’ll require the following financial statements:
Let’s get started now.
Gold Coast unsecured loans provides amounts of between $5,000 and $100,000. Terms range from 3 and 24 months, cash flow-friendly repayments, which are either daily or weekly.
It is possible to apply to the 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 are based on an interest rate per annum plus other fees and charges. We offer a business loan is a pre-paid loan so you will know ahead of time the total amount due, which includes any interest, fees or charges. Then, it is broken down into weekly or daily payment amount.
It is a Small Business Loan can be used for almost any company reason, such as cash flow management, business improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 over a fixed term with a maximum of 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the loan amount.
In order to be eligible for a loan of this size, your company needs to be trading for at least 3 years with an annual turnover of at least $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A larger company loan can be used for nearly any business reason, such as business remodeling, buying new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary for accessing funds over $150,000. It is usually as a result of an charge against assets and can include registration in the PPSR or registering a caveat.
A director’s or personal guarantee is a guarantee to repay a loan which is general in nature, rather than specifying the security of a specific asset. The person who signs the guarantee is personally liable if the company creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including the assets or goods). The PPSR gives priority over personal property to be granted in accordance with the date on which a registration of a security interest.
An affidavit is an official form of document to offer the public notice of a legal claim against a property.
If you’re applying for larger company loans of more than $250K we may be able to provide an initial pre-approval in order to simplify the process. We could be able to make this decision without a credit verification and within 6 hours of your initial application. This pre-approval is made based on a preliminary assessment which includes the answer to a series of financial health questions. This is neither an offer nor a guarantee of credit. A conditional approval is subject an extensive credit evaluation and any offer that you may receive may be on different conditions.
You can apply for a business loan if you:
The application process is quick and simple. Complete the online form in few minutes and a dedicated business expert in lending will contact you to guide you.
To apply for up to $100,000 you’ll require proof of identity (valid Driver’s License) along with a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K – $500K: Information on the application including credit consent, 12 month bank accounts, the IRD statements as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) We can usually provide an answer within one hour, provided you make your application during quality business hours and let us utilise the advanced bank verification system to instantly verify your bank information online. If you decide to upload copies of your bank statements , we will be able to provide the decision in as little as the span of one business day.
For Larger Business Loans ($100K to $500K) we might be capable of provide you with pre-approval conditional to your application in about six hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based on the specifics of each application. Certain offers have been approved within the space of 24 hours.
The quickest way to apply is to make sure you apply during standard company hours. Also, allow us to use our advanced bank verification system link to instantly confirm your bank details online. If you opt to send us duplicates of your banking statements it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we typically provide an answer in just one hour – as long as you make your application during normal business times and you allow us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your banking statements, we will be able to provide an answer in just 1 business day.
For the Larger Business Loans ($100K and up) We may be capable of provide you with a conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval. However, this can be faster depending on the particular circumstances of each application. Some deals have been approved within 24 hours.
The fastest way would be to make sure you apply during normal business hours and let us use the advanced bank verification system link to instantly confirm your bank details online. If you opt to send us duplicates of your banking statement, it can take a bit longer.
We offer loans that range from $5,000 to $500,000. When you submit an application for a certain amount, we look at a variety of elements in order to assess the well-being that is your company and the amount of repayments your business will be able to support. The total amount of your loan will be contingent on the specific circumstances that are unique to your business.
When you make an application for a specific amount we will consider a number of elements to assess your well-being of the business and the amount of the repayments your business can afford. The total amount of your loan will depend on the specific circumstances the company.
If you decide to request business loans with us business credit, we’ll assess the risk assessment the business and provide you with a tailored proposal that includes the amount of loan, the term and the interest rates. A business loan is a loan that is priced upfront which means you know in advance the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates depend on a variety of variables like the amount to be of money borrowed, the company assets the money are used to purchase in addition to the industry that the company is in, how long the business has been running as well as how long the company has sufficient cash flow to cover the loan, and general health or creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll know exactly how much it is that you need to pay, and when, starting from the first day. There’s no compounding and no extra fees (as long as you are able to make your payments in time).
We don’t charge an application fee. You are able to make an application for loans with with no upfront cost or any obligation to sign up.
The Origination Fee includes the expenses associated in establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay all of your advance loan at any time.
If you choose to pursue this option, please speak to our friendly business loans experts. They’ll provide you with details for repayment along with an early payout estimate. The figure will be calculated as the sum of the remaining principal amount and the accrued interest up to the time of the early payout and 1.5 percent of the principal remaining and any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow schedule, we provide repayments either daily or weekly. They are automatically deducted from your business account.
Security of your data, and being upfront about the ways we gather data, process, exchange and secure your information, is crucial and a vital part of our relationship you.
Yes. We use industry recognised encryption techniques to protect your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to the security of our customers as well as their security. We make use of an advanced bank verification system link to immediately confirm your bank account information online, allowing us to offer rapid response.
An asset-based loan is when an business owner uses an asset that they own to obtain the loan. The asset may be an individual property, such as the family home or a business asset like a truck or piece or equipment.
The majority of lenders, not just the major banks, prefer to guarantee loans against assets. If you have trouble paying back the loan, your asset may be taken over by the lender. In essence, it’s an opportunity to secure new financing making use of the value of what you already own.
Up to $150K in loans it is not necessary to secure assets prior to the loan’s access However, we do need the personal guarantee. As long as you follow the terms of your loan (as specified in your loan contract), asset security will never be needed. If you take out loans in excess of $150K typically, you will need an individual ensure and security is provided in the form of a charge over assets.
