The criteria for eligibility for an unsecured business loan in Gold Coast of between $5K and $100K are fairly minimal.
Need more funds? Review the guidelines for eligibility for our $100K-$500K business credit.
All that’s needed to start is your contact details (company name, your name, email or phone number) as well as the amount you want to borrow, as well as your monthly income.
While in the process and before settlement we’ll need confirmation of your identity, however, not in order to begin:
In addition, once we have started in the process, for loans over $150,000 you’ll need the following financial statements:
Let’s get started now.
Gold Coast unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
Apply to your Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and have the funds available in just 24 hours. Traditional business loans are based on an interest rate per annum as well as other fees and charges. Our business loan is an upfront priced loan which means you know ahead of time the total amount due, which includes any interest, fees or charges. This is then divided into weekly or daily payment amount.
The Small Business Loan can be used for almost any business need, such as the management of cash flow, business renovations, marketing to purchase inventory, new equipment, as general working capital and so much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. Loans range from $100,000 to $500,000 for a fixed period of up to 36 months. Repayments are either weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee that is calculated at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount, your business needs to have been in operation for at least 3 years and have an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger business loan can be used for almost every business purpose including company renovations, to purchase equipment or inventory as well as for general working capital and much more. The loan cannot be used for personal use.
Asset security is necessary for accessing funds over $150,000. This is by taking a charge over assets and can include registering this on the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to repay credit that is generally based rather than stating security over a particular asset. The person signing the ensure is personally liable if the company borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online register run by the New Zealand Government. It records security interests that have been granted to individuals who own personal property (including objects or assets). The PPSR gives priority over personal property to be assigned according to the date a registration of a security interest.
A caveat is a legal document that is filed to offer the legal claim to a property.
If you’re requesting a Larger Business Loan that is greater than $250,000 it is possible to offer an initial pre-approval in order to simplify the process. It is possible to get this done without a credit check, and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves you answering some financial well-being questions. It is not an offer or guarantee of funds. A conditional approval is subject a full credit assessment and any offer that you are offered could be on different conditions.
You can apply for an company loan if you;
The application process is fast and simple. Just fill out the online application within a couple minutes, and an experienced business credit specialist will contact you to guide you.
To apply for up $100,000, you’ll need identification details (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K to $250K: Information about the application including credit consent, 6 – 12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent and 12 months of bank records, IRD statement Last 2 years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K or more) we can often offer an answer within an hour – as long as you make your application within standard business hours and you allow us to utilise the advanced bank verification system to instantly verify your bank information online. If you decide to send us copies of your bank statements , we will be able to provide an answer in just an company day.
For the Larger Business Loan ($100K or more) we may be capable of provide the conditional pre-approval within 6 hours. After you’ve signed your pre-approval, the turnaround time is about 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain transactions have received approval within just 24 hours.
The most effective method is to make sure you apply during normal business hours. Also, let us use the modern bank verification link to check your bank’s information online. If you choose to upload copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K and up) we can often offer an answer within one hour – provided you make your application in normal business times and allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to upload copies of your banking statements we can provide an answer in just one business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be likely to provide you with pre-approval conditional to your application within 6 hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Certain transactions have received approval within less than 24 hours.
The most effective method can be make sure you apply during normal business hours and let us use the advance bank verification to instantly check your bank’s information online. If you send us documents from your account statements, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you submit an application for a certain amount, we consider a variety of factors in order to assess your well-being for your business and the amount of repayments your business can afford. The amount you receive from your loan will be contingent on the specific circumstances of your company.
When you submit an application for a specific amount we will consider a number of factors to determine your health for your business and the amount of the repayments your business will be able to support. The total amount of your loan will be contingent on the particular circumstances of your company.
When you request business loans with us business loan, we will assess the risk profile that you have for your company and offer you with a customised proposal that includes the amount of the loan, the duration and interest rates. A business loan is an upfront priced loan which means you know in advance the total amount you will have to pay, including costs, fees, or interest rates.
The interest rates on business loans rates differ based on various 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 operating and whether the company has enough cash flow to pay for the loan, and overall health or financial standing of the business.
There are no hidden costs with our company loans, and you’ll be aware of the amount you need to pay and when, right from the day you sign up. There’s not any compounding interest and no additional fees (as as long as you pay your payments on time).
We do not charge an Application Fee. You are able to request a credit loan with absolutely no upfront cost and no commitment to apply.
The Origination Fee covers the costs associated in establishing and managing the loan. This is only a cost if you take out the loan. The Origination Fee for us is 2.5 percentage of the amount of the loan.
You can decide to repay the entire amount of your loan in full at any time.
If you decide to pursue this option, please speak to our friendly business credit experts. The experts will offer you with repayment details along with an early payout estimate. It will be calculated using the total 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 ensure you do not miss payments and to work your cash flow schedule, we offer repayments either daily or weekly. These are automatically deducted from your company account.
Security of your data, and knowing how we collect, use, exchange and safeguard your data, is of paramount importance and is an essential part of our relationship you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and privacy. We use an advanced bank verification system that allows you to immediately verify your bank account information online to provide quick responses.
Asset-based borrowing occurs when a company owner makes use of an asset that they own to obtain the loan. The asset can be a personal asset like the family home, or a business asset such as a vehicle or other piece of machinery.
The vast majority of the lenders not just the big banks, tend to guarantee loans against an asset. If you are having difficulty paying back the loan then your assets could be taken over by the lender. In essence it is a way of securing additional financing using the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security prior to the loan’s access However, we require a personal guarantee. need an individual guarantee. So long as you comply with your loan obligations (as specified in your loan contract document) Asset security is not required. For loans over $150K typically, you will need personal ensure and security is provided in the form of an asset charge.
