The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Do you need more money? Review the guidelines for eligibility for our $100K to $500K business loan.
All that’s required for starting is your contact information (the name of your company, your name, email address and telephone), how much you want to borrow, and your monthly earnings.
While in the process and before settlement we’ll need confirmation of your identity, but not to get started:
Once we’ve started in the process, for loans greater than $150,000 you will also require basic financial statements:
Let’s get started now.
Adelaide unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow-friendly repayments which can be made daily or weekly.
It is possible to apply for your Small Business Loan in under 10 minutes by phone. You will receive an answer within the same day and the money could be in your account in 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. Our business loan is a loan that is priced upfront which means you be aware of the total amount due, which includes any fees, interest or charges. Then, it is broken down into either weekly or daily payment amount.
It is a Small Business Loan can be used for almost any company reason, such as managing cash flows, business remodels and marketing, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. The repayments are made weekly or fortnightly in order to accommodate you cashflow.
A Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the amount of the loan.
To qualify for a loan in this amount, your business needs to be operating for at least three years with an annual turnover of at least $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at least 12 months of trading.
A Larger Business Loan can be used to fund almost every company use, including company renovations, to purchase new equipment or inventory for general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is needed for funding of more than $150,000. This is as a result of an charge over assets, which could also include the registration of this on the PPSR or the registration of as a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is general in nature, rather than stipulating security over a particular asset. The person who is signing the guarantee is personally responsible if the business creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online central registry 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 depending on the date that a security interest was registered.
An affidavit is an official document filed to provide an official notice of a claim to property.
When you’re applying for the Larger Business Loan that is greater than $250,000 we may be able to provide an initial pre-approval that will help smooth out the process. It is possible to apply for this without a credit check, and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes the answer to a series of financial health checks. This is in no way an offer, nor is it a guarantee of credit. A conditional approval is subject an exhaustive credit evaluation, and any offer you may receive may be subject to different terms.
You can apply for a business loan if you
The process for applying is fast and easy. Complete the online form in just a few minutes, and a dedicated business lending specialist will contact you to help you.
To apply for up $100,000 you’ll require identification details (valid Driver’s License) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Application details including credit approval, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Information on the application including credit consent twelve months of bank records, IRD statement and the last two years’ finalised financial statements, plus interim financials for the current financial year as well as Aged Payables and Receivables summary.
For an unsecured loan ($5K to $100K) we usually provide an answer within one hour – as long as you submit your request within standard company time and permit us to utilise the advanced bank verification system to instantly verify your bank information online. If you want to upload copies of your banking statements , we will be able to offer the decision within just 1 company day.
For the Larger Business Loan ($100K up to $500,000) we may be in a position to provide you with a conditional pre-approval in about six hours. After you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some deals have been approved within 24 hours.
The fastest way can be make sure you apply during normal business hours. You can also allow us to use the modern bank verification to check your bank’s information online. If you choose to upload copies of your bank statements , it takes a bit longer.
For the Small Business Loan ($5K to $100K) We can usually provide an answer within one hour, provided you apply in standard business timings and let us make use of the advanced bank verification system to instantly verify your bank details online. If you choose to send us copies of your bank statement, we’ll offer an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be able to provide you with a conditional pre-approval within six hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however it could be faster based on the circumstances of each application. Some transactions have received approval within less than 24 hours.
The most efficient method is to ensure you apply during normal business hours, and let us use the advance bank verification link to confirm your bank details online. If you send us documents from your account statements it can take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a certain amount we take into consideration a range of factors that determine your well-being of the business as well as the amount of the repayments your company will be able to support. The total amount of your loan will depend on the specifics that are unique to your business.
When you make an application for a particular amount, we take into consideration a variety of variables to determine the health of your business and the extent of the repayments your business is able to afford. The amount you receive from the loan will be determined by the specific circumstances of your business.
When you apply for the company loan, we’ll assess the risk profile for your business and provide an individualised offer including loan amount, term and interest rates. The company loan is an upfront cost loan so you will know the exact amount payable including any costs, fees, or interest rates.
The interest rates on company loans rates depend on a variety of factors including the amount of money borrowed, the business assets the funds are used to purchase and the sector the business operates in, how long the company has been operating and in the event that the business has enough cash flow to support the loan, and the overall well-being or creditworthiness of the company.
There aren’t any hidden charges with our business loans, and you’ll know precisely how much you’ll be required to pay, and when, from the very first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments in time).
We do not charge an application fee. You can apply for a loan with without any upfront costs or obligation to proceed.
The Origination Fee covers the expenses involved with setting up and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You can repay the total amount of your loan early at any time.
If you decide to do this please contact our helpful business loans specialists. They will offer you with the details of your repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount and any accrued interest at the time of early payout, plus 1.5% of the principal amount remaining plus any outstanding fees.
To make sure that you don’t miss payment dates and to align your cash flow cycle we provide repayments either daily or weekly. These are automatically withdrawn from your nominated business account.
Making sure that your information is secure, and making it clear the ways we gather information, use it, and exchange it, as well as ensure the security of your information is of huge importance and is an essential part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your personal, sensitive as well as financial data. Our funders are ISO 27001 qualified for our dedication to the security of our clients as well as their privacy. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify the bank account details online to offer rapid response.
The term "asset-based" refers to borrowing where a business owner borrows from an asset that they own to secure the funds for a loan. The asset could be an individual property, such as the family home, or an company asset such as a truck or piece or equipment.
The vast majority of lenders, even the banks with the biggest size, prefer to guarantee loans against assets. If you have trouble paying back the loan, then your assets could be transferred to the lender. In essence it’s an opportunity to secure additional financing using the value of what you already own.
Up to $150,000 in loans no asset security is required before you can access the money but we do require a personal guarantee. If you adhere to your loan obligations (as stated in your loan contract) Asset security is not required. If you take out loans in excess of $150,000 generally, there is personal ensure and security in the form charges on assets.
