The requirements for obtaining an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Need more funds? Check out the guidelines for eligibility for our $100K-$500K business credit.
All that’s needed to get started is your contact details (the name of your company and your name, as well as email, phone), how much you’d like to borrow and your monthly earnings.
While in the process and before settlement we’ll need confirmation of who you are but not to get started:
After we start in the process, for loans greater than $150,000 you’ll also require fundamental financial statements:
Let’s get started now.
Adelaide unsecured loans offers amounts between $5,000 and $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
You can apply to the Small Business Loan in under 10 minutes by phone. You will receive an immediate response, and have the funds on your account within 24 hours. Traditional business loans refer to an annual rate of interest along with other charges and fees. We offer a business loan is an upfront priced loan and you’ll be aware in advance of the total amount due, which includes any interest, fees or charges. Then, it is divided into weekly or daily repayment figure.
The Small Business Loan can be used to fulfill almost every business purpose including cash flow management, company renovations, marketing to purchase inventory or new equipment, or as general working capital, and much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are scheduled weekly or fortnightly depending on your situation.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
To qualify for a loan of this size the company needs to be operating for at least three years and have an annual turnover of at least $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A Business Loan of a larger size can be used for almost every business use, including company remodeling, buying inventory or new equipment for general working capital, and much more. The loan is not available to fund personal expenses.
Asset security is required for funding of more than $150,000. This is in the form of a charge over assets, and could include registering this in the PPSR or filing a caveat.
A personal or director’s ensure is a guarantee to repay a loan which is general in nature, rather than defining the security for a particular asset. The person who signs the guarantee is personally liable in the event that the company borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including goods or assets). The PPSR allows the priority of personal property assigned according to the date the security interest was registered.
The caveat can be described as a formal document that is filed to offer the legal claim to a property.
If you’re requesting an enterprise loan that is greater than $250K, we may offer an initial pre-approval in order to ease the process. We could be able to do this without credit checks and within 6 hours of your initial application. The pre-approval is based upon an initial assessment that includes answering a couple of financial health checks. This is not an offer of credit or guarantee of funds. A conditional approval is subject an exhaustive credit evaluation, and any offer that you are offered could be subject to different terms.
You are eligible to apply for a company loan if you:
The process for applying is fast and easy. Complete the online form in just a few minutes, and a dedicated company expert in lending will be in touch to help you.
To apply for up to $100,000, you’ll need proof of identity (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months worth of bank statements.
For larger loan sizes, you’ll also require:
$100K-$250K: Details of application, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Details for application including credit consent twelve month bank accounts, the IRD statement Last 2 years’ finalised financial statements, and interim current financial year financials as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K up to $100,000) We can usually offer a response in one hour, provided you make your application during quality company timings and let us utilise the bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statement, we’ll offer an answer in as little as the span of one business day.
For Larger Business Loans ($100K up to $500,000) we may be able to provide you with a conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is about 2-3 days for final approval, however this could be shorter based on the specifics of each application. Certain offers have been approved in just 24 hours.
The quickest method is to ensure you apply during standard business hours. Also, permit us to use the modern bank verification link to instantly check your bank’s information online. If you decide to upload documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we can often provide an answer within an hour, provided you make your application within normal business time and permit us to use the advanced bank verification system to instantly verify your bank details online. If you want to send us copies of your bank statements, we are able to offer a decision in just an business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be likely to offer the conditional pre-approval within about six hours. After you’ve signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval within the space of 24 hours.
The most efficient method can be ensure you apply during normal business hours, and permit us to use the advanced bank verification system link to instantly verify your bank account information online. If you upload duplicates of your banking statement, it can take a bit longer.
We provide loans ranging from $5,000 and $500,000. If you apply for a specific amount we take into consideration a range of factors that determine what is the well-being of the business as well as the amount of payments your company will be able to support. The amount you receive from the loan will be determined by the specifics for your company.
When you submit an application for a specific amount we look at a range of variables to determine your health of the business and the extent of repayments your company is able to afford. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your company.
If you decide to make an application for the company loans, we’ll assess the risk profile the company and provide you with a customised offer that includes the amount of the loan, the duration and the interest rates. A company loan is an upfront-priced loan so you will be aware of the total amount payable including any charges or interest.
Interest rates for business loans rates depend on a variety of factors such as the amount that is borrowed, the company assets the funds are used to purchase and the sector the business is in, how long the company has been in operation, how long the company has enough cash flow to cover the loan, and also the general health as well as creditworthiness company.
There aren’t any hidden charges with our business loans. You’ll know precisely how much you’ll be required to pay, and at what time, from the first day. There’s not any compounding interest and the loan comes with no additional fees (as long as you make your payments on time).
We don’t charge an Application Fee. You can apply for a loan with no cost upfront or obligation to proceed.
The Origination Fee includes the expenses associated in establishing and managing the loan. The only way to pay this fee if you proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can repay the entire amount of your loan early at any time.
If you choose to pursue this option, please talk to one of our helpful company loan specialists. They will provide you with the details of your repayment as well as an early payout amount. This is calculated as the total of the principal remaining plus any accrued interest as of the time of the early payout in addition to 1.5% of the principal remaining and any fees that remain unpaid.
To ensure you do not miss due dates and also to be in line with your cash flow cycle we offer repayments that are either weekly or daily. They will be automatically deducted from the nominated business account.
Security of your data, and being upfront about the ways we gather, use, exchange and ensure the security of your information is of huge importance and an integral element of our relationship with you.
Yes. We make use of industry-standard encryption standards to secure your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our dedication to customer security and privacy. We utilise a sophisticated bank verification system that allows you to immediately verify your bank account details online. This allows us to offer quick responses.
The term "asset-based" refers to borrowing where the company owner borrows from assets they own to secure the loan. The asset could be a personal asset like the family home, or an company asset such as a vehicle or piece of equipment.
The majority of lenders, including the banks with the biggest size, prefer to secure loans against an asset. If you are having difficulty paying back the loan, your asset may be offered for sale by the lender. In essence it is an opportunity to secure new financing taking advantage of the value of what you already have.
Up to $150K in loans it is not necessary to secure assets in advance to gain access to the funds but we do require a personal guarantee. In the event that you fulfill your loan obligations (as detailed in your loan contract), asset security will never be needed. If you take out loans in excess of $150K generally, you are able to get the option of a personal ensure and security in the form an asset charge.
