The requirements for obtaining an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Do you require more money? Check out the guidelines for eligibility for our $100K to $500K business loan.
All that is needed for starting is your contact information (company name and your name, as well as email and phone) along with the amount you’d like to lend, and your monthly income.
While in the process and before settlement we’ll need confirmation of your identity but not to get started:
After we start in the process, for loans greater than $150,000 you’ll require the following financial statements:
Let’s get started now.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000. The terms range between 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
You can apply for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and the money could be available in just 24 hours. Traditional business loans are based on an annual interest rate along with other charges and fees. The business loan is a cash-based loan so you will know in advance the total amount to be paid, including the interest, fees and charges. Then, it is divided into weekly or daily payment amount.
A Small Business Loan can be used for almost every company purpose including the management of cash flow, business improvements, advertising, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal purposes.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. The loan ranges from $100,000 to $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the amount of the loan.
To qualify for a loan in this amount the business needs to be operating for at least three years and generate an annual revenue of at least $700,000. Your company must belong to a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at the least 12 months of operating.
A large business loan is a great option for almost any company use, including business renovations, purchase of new equipment or inventory or as general working capital and so much more. The loan cannot be used for personal reasons.
Asset security is needed to obtain funding above $150,000. This is by way of charge on assets, and could be registered with the PPSR or registering a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature, rather than specifying security over an asset. The person signing the guarantee is personally liable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register run by the New Zealand Government. It contains security interests that are registered for personal property (including goods or assets). The PPSR allows prioritisation over property that is personal to be granted in accordance with the date on which a security interest has been registered.
Caveats are legal form of document to provide the public notice of a legal claim against a property.
When you’re applying for larger company loans of more than $250K, we may offer an initial pre-approval to smooth out the process. We may be able to do this without credit checks and within 6 hours of the initial application. The pre-approval process is based on an initial assessment that includes you answering some financial health questions. This is neither an offer nor a guarantee of financing. The approval of a conditional loan is subject to an assessment of your creditworthiness and any offer you may receive may have different terms.
You are eligible to apply for an company loan if you;
The application process is fast and easy. Complete the online form within a couple minutes, and an experienced business expert in lending will contact you to assist you.
To be eligible for up to $100,000, you’ll require proof of identity (valid Driver’s Licence) and an NZBN/IRD that is valid and at least 6 months of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K to $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if the loan is greater than $150K).
$250K – $500K: Application details including credit consent, 12 months of bank statements, IRD statements Last 2 years’ finalised financial statements, plus interim current financial year financials, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K and up) we typically offer an answer within an hour – as long as you make your application in standard company time and you allow us to utilise the advanced bank verification system link to immediately verify your bank account information online. If you opt to upload copies of your banking statements we can provide a decision in just the span of one business day.
If you are applying for a Larger Business Loan ($100K or more) we may be likely to offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is around 2-3 days for final approval. However, this may be quicker depending on the specifics of each application. Certain deals have been approved in the space of 24 hours.
The fastest way can be make sure you apply during normal company hours and permit us to use the advance bank verification to instantly verify your bank account information online. If you decide to send us copies of your bank accounts, it may take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within one hour – provided you apply during standard business time and let us utilise the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your bank statements, we are able to provide an answer in just one business day.
For the Larger Business Loans ($100K and up) we could be in a position to provide you with conditional pre-approval within about 6 hours. Once you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however this could be shorter based on the circumstances of each application. Certain agreements have been approved in just 24 hours.
The most efficient method for you to apply is ensure you apply during normal business hours. You can also let us use the advanced bank verification system to check your bank’s information online. If you decide to send us documents from your account statements it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you submit an application for a specific amount we will consider a number of elements that determine the well-being of your company and the extent of payments your company can support. The amount you receive from your loan will be contingent on the specifics for your business.
When you apply for a particular amount, we take into consideration a variety of factors to assess your well-being that is your company as well as the amount of repayments that your company can support. The total amount of the loan will be determined by the particulars that are unique to your business.
When you apply for our business financing, we’ll assess the risk assessment the business and offer you with a customised offer, including the amount of the loan, the duration and the interest rates. A company loan is an upfront priced loan which means you know the exact amount to be paid, including any charges or interest.
The interest rates on company loans rates differ based on various factors including the amount that is borrowed, what company assets the funds will be used for, the industry the company operates in, how long the business is in operation, how long the company has sufficient cash flow to fund the loan, and the general well-being and creditworthiness of the company.
There aren’t any hidden costs with our company loans, and you’ll be aware of the amount you need to pay and when, from the day you sign up. There’s no compounding and the loan comes with no additional fees (as long as you are able to make your payments in time).
We do not charge an application fee. You are able to make an application for loans with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated with setting up and managing the loan. The only way to pay this fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the total amount of your loan at any point in time.
If you choose to take this route, please call our helpful company credit specialists. They’ll provide you with the details of your repayment and an early payment figure. It will be calculated using the sum of the principal balance and accrued interest to the date of early payout in addition to 1.5 percent of the principal amount remaining plus any outstanding fees.
To ensure you do not miss payment dates and to align your cash flow cycle we offer repayments either weekly or daily. They are automatically deducted from your business account.
Protecting your information, and making it clear the ways we gather, use, exchange and secure your information, is of paramount importance and a vital part of our relationship you.
Yes. We make use of industry-standard encryption standards to protect your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We utilise a sophisticated bank verification system to instantly verify your bank account details online. This allows us to offer an immediate response.
The term "asset-based" refers to borrowing where a company owner utilises assets they own to get the funds for a loan. The asset can be an individual asset, such as the family home, or an business asset such as a truck or piece or equipment.
The vast majority of lending institutions, including the big banks, tend to guarantee loans against assets. If you’re having trouble paying back the loan, then your assets could be sold by the lender. In essence, it’s means of securing new financing by making use of the value of what you already have.
Up to $150,000 in loans there is no requirement for asset security before you are able to access the money, however we do need the personal guarantee. So long as you comply with your loan obligations (as stipulated in your loan contract document) Asset security is not needed. If you take out loans in excess of $150K generally, you are able to get an individual ensure and security in the form the charge of assets.
