The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Are you looking for additional funding? Take a look at the guidelines for eligibility for our $100K to $500K business loans.
All that’s required to start is your contact details (company name, your name, email address or phone number), how much you’d like to lend, and your monthly income.
In the course of the process and before settlement we will need confirmation of who you are, but not before we can begin:
After we start, for loans of more than $150,000 you will also require basic financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow-friendly repayments that are either daily or weekly.
The application to get your Small Business Loan in under 10 minutes on the internet or over the phone. You’ll get an immediate response, and the funds could be in your account in 24 hours. Traditional business loans reference an annual interest rate together with additional fees and charges. This company loan is a loan that is priced upfront so you will be aware of the total amount to be paid, including any fees, interest or charges. This is then broken down into weekly or daily installment amount.
A Small Business Loan can be used to fulfill almost every company reason, such as managing cash flows, company improvements, advertising to purchase inventory, 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 business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are either weekly or fortnightly, depending on the flow of cash.
The Larger Business Loan has an Origination Fee that is determined at 2.5 percent of the loan amount.
To qualify for a loan of this size the company needs to be in operation for at least 3 years and generate an annual revenue of at least $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A larger company loan can be used to fund almost any business reason, such as business 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 needed to access funding over $150,000. It is usually in the form of a charge against assets, and could include registration with the PPSR or filing as a caveat.
A director’s or personal guarantee is a promise to repay a loan which is general in nature rather than stating the security for a particular asset. The person signing the ensure is personally accountable if the business creditor is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It lists security interests that are registered in respect of personal property (including items or assets). The PPSR permits the priority of personal property assigned depending on the date that a security interest has been registered.
Caveats are legal document lodged to provide an official notice of a claim to property.
If you’re requesting the Larger Business Loan of $250,000 or more, we may offer an initial pre-approval in order to make the process. We could be able to do this without credit checks and within 6 hours of your initial application. The pre-approval process is based on an initial assessment, which involves the answer to a series of financial well-being checks. It’s in no way an offer, nor is it a guarantee of funds. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be based on different conditions.
You are eligible to apply for a company loan if you:
The process for applying is fast and simple. Just fill out the online application within a few minutes and a dedicated company loan specialist will be in touch to help you.
For a loan of up to $100,000 you’ll need ID details (valid Driver’s Licence) as well as a valid NZBN/IRD as well as at least 6 months of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit approval, 6-12 months of IRD statements, bank statements (if the loan is greater than $150K).
$250K – $500K: Details for application including credit consent as well as 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, as well as interim current financial year financials as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) We can usually offer an answer within one hour, provided you submit your request during standard business timings and you allow us to make use of the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statements , we will be able to offer an answer within one business day.
For the Larger Business Loan ($100K to $500K) we might be in a position to provide the conditional pre-approval within about six hours. Once you have signed the pre-approval form, it will take approximately 2-3 days to receive final approval, however it could be faster based on the specifics of each application. Certain transactions have received approval in less than 24 hours.
The quickest way to apply can be ensure you apply during normal company hours. You can also allow us to use our advance bank verification to check your bank’s information online. If you decide to upload duplicates of your banking statements it can take a bit longer.
For the Small Business Loan ($5K and up) we can often provide a response in one hour if you apply at standard business time and let us make use of the advanced bank verification system to immediately verify your bank account information online. If you want to send us copies of your bank statement, we’ll provide a decision in as little as one business day.
If you are applying for Larger Business Loans ($100K and up) we may be able to provide you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval form, it will take about 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Certain transactions have received approval in 24 hours.
The quickest method would be to ensure you apply during normal business hours, and allow us to use our advance bank verification to instantly check your bank’s information online. If you send us the copies of bank accounts, it can take a bit longer.
We offer the loan amount between $5,000 and $500,000. When you submit an application for a specific amount we look at a variety of factors that determine the health of the company as well as the amount of payments your business can support. The total amount of your loan will be contingent on the particular circumstances of your company.
When you make an application for a set amount, we take into consideration a variety of aspects to assess the health of the company and the level of the repayments your business can afford. The amount you receive from your loan will depend on the particular circumstances that are unique to your company.
If you decide to make an application for the company loan, we will assess the risk assessment that you have for your company and offer you with a customised proposal that includes the loan amount, the terms and the interest rates. The company loan is an upfront cost loan so you will be aware in advance of the total amount you will have to pay, including charges or interest.
Interest rates for company loans rates differ based on various variables like the amount to be borrowed, what company assets the money are used to purchase, the industry the business operates in, the long the business has been in operation for, in the event that the business has enough cash flow to pay for the loan, as well as the overall health or financial standing of the business.
There aren’t any hidden charges with our business loans. You’ll know precisely how much you’ll need to pay, and when, starting from the first day. There’s not any compounding interest and no additional fees (as as long as you pay your payments in time).
We do not charge an application fee. You can request a credit loan with no cost upfront or the obligation to take action.
The Origination Fee includes the expenses associated with the setting up and management of the loan. The only way to pay this fee if you decide to take the loan. The Origination Fee for us is 2.5 percent of the loan amount.
You may choose to pay back the entire amount of your loan in full at any time.
If you are deciding to pursue this option, please call our helpful company loans experts. They’ll provide you with details for repayment and an early payment figure. It will be calculated using the sum of the principal remaining and accrued interest to the time of early payout plus 1.5 percent of the remaining principal and any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow general, we offer repayments either weekly or daily. These are automatically deducted from your company account.
Protecting your information, and knowing the ways we gather information, use it, and exchange it, as well as safeguard your data, is of huge importance and is an essential aspect of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal financial information and our funders are ISO 27001 qualified for our dedication to security for our customers and privacy. We employ a highly sophisticated bank verification system that allows you to immediately verify your bank account details online. This allows us to offer a fast response.
The term "asset-based" refers to borrowing where a business owner makes use of an asset they own to secure the funds for a loan. The asset could be a personal asset like the family home or it could be a business asset like a truck as well as a piece of machine.
The majority of lenders, not just the largest banks, are inclined to guarantee loans against assets. If you’re struggling to pay back the loan, the asset could be offered for sale by the lender. In essence, it’s a way of securing additional financing taking advantage of the value of what you already have.
For loans that exceed $150,000, it is not necessary to secure assets before you are able to access the money However, we require a personal guarantee. require an individual guarantee. So long as you comply with the loan terms (as stated in your loan contract) and you are able to meet your obligations, asset security is not needed. For loans over $150K generally there is a personal ensure and security that is in the form an asset charge.
