The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K to $100K are quite minimal.
Looking for more funding? Find out the eligibility requirements for our $100K-$500K business loan.
All you need for starting is your contact information (company name, your name, email address or phone number) as well as the amount you want to borrow, and your monthly revenue.
During the process and before settlement we’ll require confirmation of your identity, however, not in order to begin:
Additionally after we get started, for loans greater than $150,000 you’ll need basic financial statements:
Let’s get started now.
Gold Coast unsecured loans offers amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either per day or weekly.
The application for the Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and funds may be available in just 24 hours. Traditional business loans have an annual rate of interest along with other charges and fees. We offer a business loan is a cash-based loan therefore you’ll be aware in advance of the total amount payable including any interest, fees or charges. Then, it is divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for nearly any business use, including control of cash flow company remodels and marketing to purchase inventory or new equipment, to fund general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 over a fixed term up to 36 months. Repayments are weekly or fortnightly depending on you cashflow.
It is important to note that the Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit of this size, your company needs to be operating for a minimum of 3 years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A large business loan can be used for almost every business use, including company renovations, purchase of equipment or inventory as well as for general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is required to obtain funding above $150,000. It is usually as a result of an charge on assets, and could include registering this with the PPSR or making a caveat.
A director’s or personal ensure is a guarantee to repay credit that is generally based rather than defining security over a particular asset. The person who is signing the guarantee is personally liable in the event that the company borrower is unable 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 the assets or goods). The PPSR permits the priority of personal property granted depending on the date that a security interest was registered.
The caveat can be described as a formal document that is filed to offer the public notice of a legal claim on a property.
When you’re applying for an enterprise loan that is greater than $250,000, we may offer a preliminary pre-approval to help make the process. We may be able to apply for this without credit checks and within 6 hours of the initial application. The pre-approval is based upon an initial evaluation that involves answering a couple of financial well-being checks. This is not an offer or guarantee of finance. Acceptance without condition is subject to an assessment of your creditworthiness and any offer you might receive could be subject to different conditions.
You may apply for a business loan if you
The application process is fast and easy. Just complete the online application in just a few minutes, and a dedicated business expert in lending will call you to guide you.
To be eligible for up to $100,000 you’ll need identification details (valid Driver’s License) as well as a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent as well as 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, in addition to interim financials from the current financial year as well as Aged Payables and Receivables reports.
For an unsecured loan ($5K to $100K) we can often offer an answer in just one hour, provided you submit your request at standard business timings and allow us to utilise the bank verification system to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can offer a decision in as little as an business day.
For Larger Business Loans ($100K up to $500,000) we could be likely to provide the conditional pre-approval within six hours. Once you’ve signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however this could be shorter based on the circumstances of each application. Some agreements have been approved within the space of 24 hours.
The fastest way would be to ensure you apply during standard company hours and let us use the advance bank verification link to verify your bank account information online. If you opt to send us copies of your bank statements it takes a bit longer.
For the Small Business Loan ($5K and up) we usually offer a response in one hour – as long as you make your application at normal business time and permit us to use the advanced bank verification system to instantly verify your bank details online. If you opt to send us copies of your bank statements we can offer the decision in just 1 business day.
For the Larger Business Loans ($100K to $500K) we could be able to offer you with pre-approval conditional to your application in about six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however it could be faster based on the particular circumstances of each application. Some deals have been approved within less than 24 hours.
The fastest way would be to ensure you apply during standard business hours. You can also let us use the sophisticated bank verification link to check your bank’s information online. If you decide to upload documents from your account statement, it takes a bit longer.
We provide loans ranging from $5,000 and $500,000. When you make an application for a specific amount we look at a variety of variables in order to assess the well-being of your company and the amount of repayments your business can afford. The total amount of the loan will be determined by the specific circumstances of your business.
When you make an application for a particular amount, we will consider a number of variables to assess the health for your business and the level of the repayments your business is able to afford. The amount you receive from your loan will depend on the specific circumstances the company.
When you request one of our business loans, we’ll assess the risk assessment that you have for your company and provide you with a tailored offer including loan amount, term and interest rates. It is a business loan is an upfront priced loan therefore you will know the exact amount payable including any charges, interest rates or fees.
Business loan interest rates vary due to factors including the amount that is borrowed, what business assets the money will be used for and the sector the business is in, how long the business has been operating, whether the company has enough cash flow to pay for the loan, and also the overall well-being or creditworthiness of the business.
There are no hidden fees for our business loans. You’ll know exactly how much you’ll need to pay, and at what time, from day one. There’s not any compounding interest and no extra fees (as long as you make your payments punctually).
We do not charge an Application Fee. You are able to apply for a loan with no upfront cost or any obligation to sign up.
The Origination Fee is the cost associated with the setting up and management of the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay the entire amount of the loan at any point in time.
If you do decide to pursue this option, please talk to one of our helpful company loans specialists. They will provide you with details for repayment along with an early payout estimate. This will be calculated as the total of the principal amount remaining and the accrued interest up to the date of early payout and 1.5% of the principal amount remaining as well as any outstanding fees.
In order to help you avoid missing due dates and also to be in line with your cash flow standard, we provide repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
The security of your personal information, as well as making it clear how we collect data, process, exchange and secure your information, is of huge importance and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We make use of an advanced bank verification system to instantly verify the bank account details online. This allows us to provide rapid response.
An asset-based loan is when a company owner borrows from the assets they have to obtain the funding. The asset can be either an individual property, such as the family home or a business asset such as a truck or piece of equipment.
The majority of the lenders including the major banks, prefer to make loans secured by an asset. If you have trouble paying back the loan then your assets could be offered for sale by the lender. In essence, it’s the process of securing new financing by using the value of what you already own.
For loans up to $150K no asset security is required in advance to gain access to the funds, however we do require the personal guarantee. In the event that you fulfill your loan commitments (as stipulated in your loan contract) and you are able to meet your obligations, asset security is not required. For loans that exceed $150K, typically, you will need a personal ensure and security in the form a charge over assets.
