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? Find out the eligibility requirements for our $100K to $500K company loans.
All that’s needed for starting is your contact details (company name, your name, email and telephone) along with the amount you’d like to lend, as well as your monthly income.
In the course of the process and before settlement we’ll need confirmation of your identity but not for starting:
Once we’ve started with loans greater than $150,000 you’ll need fundamental financial statements:
Let’s get started.
Gold Coast unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments which can be made daily or weekly.
It is possible to apply for this Small Business Loan in under 10 minutes online or over the phone. You’ll get an immediate response, and funds may be available in just 24 hours. Traditional company loans reference an interest rate per annum along with other charges and fees. We offer a company loan is a loan that is priced upfront and you’ll be aware in advance of the total amount due, which includes any fees, interest or charges. Then, it is divided into weekly or daily payment amount.
The Small Business Loan can be used for almost any business use, including the management of cash flow, company improvements, advertising for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly in order to accommodate you cashflow.
The Larger Business Loan has an Origination Fee, calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan that is this large, your business needs to have been operating for at least three years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A Business Loan of a larger size is a great option for almost all business need, including business renovations, purchase of inventory or new equipment as well as for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to access funding over $150,000. It’s by taking a charge against assets, and may include the registration of this with the PPSR or the registration of a caveat.
A personal or director’s guarantee is a promise to pay off a credit line that is general in nature rather than stating the security for a particular asset. The person signing the guarantee is personally liable if the business the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are granted to individuals who own personal property (including objects or assets). The PPSR allows priority over personal property to be granted in accordance with the date on which a security interest that is registered.
A caveat is a legal document filed to offer an official notice of a claim against a property.
If you’re seeking larger company loans of more than $250,000 it is possible to offer an initial pre-approval to make the process. We might be able to apply for this without a credit check and within 6 hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health questions. This is in no way an offer, nor is it a guarantee of credit. A conditional approval is subject a full credit assessment and any offer that you may receive may be on different conditions.
You may be eligible for an company loan if you;
The application process is quick and simple. Just complete the online application in few minutes and a dedicated business credit specialist will call you to help you.
To apply for up $100,000, you’ll need the right identification documents (valid Driver’s License) and a valid NZBN/IRD and at least 6 months of bank statements.
For larger loan sizes, you’ll require:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 months bank statement, an IRD statement as well as the two most recent years’ financial statements, and interim financial statements for the current year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K or more) we can often offer a response in one hour – as long as you apply in quality company hours and you allow us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements , we’ll be able to provide a decision in as little as an business day.
For Larger Business Loans ($100K and up) we may be in a position to provide the conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this may be quicker depending on the particular circumstances of each application. Certain agreements have been approved within the space of 24 hours.
The most efficient method is to ensure you apply during normal company hours. You can also permit us to use the advance bank verification to instantly verify your bank account information online. If you send us documents from your account statement, it will take a little longer.
For the Small Business Loan ($5K up to $100,000) we usually offer an answer in just one hour – as long as you apply during normal business times and permit us to utilise the advanced bank verification system to immediately verify your bank account information online. If you want to submit copies of your bank statements we can provide an answer within the span of one business day.
If you are applying for Larger Business Loans ($100K and up) we could be in a position to offer you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval, turnaround times are approximately 2-3 days to receive final approval. However, it could be faster based upon the circumstances for each application. Certain offers have been approved in 24 hours.
The fastest way is to make sure you apply during normal business hours and allow us to use the advance bank verification to instantly verify your bank account information online. If you decide to upload the copies of bank statements, it will take a little longer.
We offer loan amounts between $5,000 and $500,000. When you make an application for a certain amount we consider a variety of variables that determine your well-being for your business as well as the amount of the repayments your company can afford. The total amount of the loan will be determined by the specifics for your business.
When you make an application for a set amount, we take into consideration a variety of elements to assess the health of your business and the extent of payments your company can afford. The total amount of your loan will be contingent on the particular circumstances for your company.
If you decide to apply for business loans with us company financing, we’ll assess the risk profile of your company and offer an individualised proposal that includes the loan amount, the terms and the interest rates. This business loan is an upfront priced loan so you will know in advance the total amount you will have to pay, including interest rates, fees or charges.
Interest rates for company loans rates differ based on various variables like the amount to be borrowed, what company assets the money will be used for, the industry the company operates in, how long the company has been in operation and in the event that the company has sufficient cash flow to support the loan, and the overall health or creditworthiness of the business.
There aren’t any hidden costs for our business loans. You’ll know exactly how much you’ll be required to pay, and when, from the day you sign up. There’s no compounding and there are no additional charges (as long as you make your payments punctually).
We do not charge an Application Fee. You can make an application for loans with absolutely no upfront cost and no the obligation to take action.
The Origination Fee covers the expenses involved with setting up and managing the loan. It is only charged for this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You can decide to repay all of your loan in full at any time.
If you decide to do this please talk to one of our helpful company loans professionals. We will provide you with details on repayment as well as an early payout amount. It will be calculated using the total of the principal amount remaining and the accrued interest up to the time of early payment in addition to 1.5% of the principal balance and any outstanding fees.
In order to help you avoid missing repayments and to fit in your cash flow cycle we offer repayments either weekly or daily. These are automatically deducted from your nominated business account.
Security of your data, and being transparent about how we collect information, use it, and exchange it, as well as ensure the security of your information is of paramount importance and is an essential part of our relationship you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 certified for our commitment to the security of our clients as well as their privacy. We employ a highly sophisticated bank verification system to instantly confirm your bank account information online. This allows us to provide quick responses.
Asset-based borrowing occurs when a business owner utilises an asset that they own to secure a loan. The asset could be an individual property, such as the family home or an business property like a truck as well as a piece of machine.
The majority of lending institutions, even the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan then your asset may be offered for sale by the lender. In essence it’s the process of securing new financing by using the worth of the asset you already have.
Up to $150,000 in loans no asset security is required upfront to access the money however, we do need a personal guarantee. So long as you comply with your loan obligations (as stipulated in the loan contract), asset security is not needed. For loans that exceed $150K, generally, there is personal guarantee and security in the form of the charge of assets.
