The requirements for getting an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Are you looking for additional funding? Find out the eligibility requirements for our $100K-$500K business financing.
All that’s required to begin is your contact information (the name of your company, your name, email, phone) along with the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we will require confirmation of your identity, but not for starting:
Additionally after we get started, for loans of more than $150,000 you’ll also require basic financial statements.
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
Apply for this Small Business Loan in under 10 minutes online or by phone. You will receive an instant response and funds may be in your account within 24 hours. Traditional company loans are based on an annual interest rate along with other charges and fees. This company loan is a cash-based loan and you’ll be aware in advance of the amount you will have to pay, including any fees, interest or charges. Then, it is divided into weekly or daily payment amount.
The Small Business Loan can be used for nearly every business reason, such as managing cash flows, company remodels and marketing to purchase inventory, new equipment, for general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
This Larger Business Loan has an Origination Fee that is calculated at 2.5% of the amount of the loan.
To be eligible for a loan in this amount, your company needs to be operating for a minimum of 3 years and generate an annual revenue of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able of proving at minimum 12 months of continuous trading.
A large company loan can be used to fund almost every company reason, such as company renovations, purchase of inventory or new equipment or as general working capital and much more. The loan is not available for personal use.
Asset security is required for funding of more than $150,000. It is usually by taking a charge over assets, and may include registering this through the PPSR or filing a caveat.
A director’s or personal guarantee is a commitment to repay credit that is generally based rather than stipulating security over a particular asset. The person signing the guarantee is personally responsible if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is a central, national online registry run by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including the assets or goods). The PPSR permits priority over personal property to be assigned according to the date a security interest was registered.
A caveat is a legal document lodged to offer the public notice of a legal claim on a property.
If you’re applying for a Larger Business Loan that is greater than $250K, we may offer an initial pre-approval that will help ease the process. We could be able to get this done without a credit verification and within 6 hours of the initial application. The pre-approval is based upon a preliminary assessment which includes you answering a few financial well-being questions. It is not an offer of credit or guarantee of credit. The approval of a conditional loan is subject to a full credit assessment and any offer that you receive could be on different conditions.
You may be eligible for an business loan if you:
The process for applying is fast and easy. Simply complete the online form in few minutes and an experienced company lending specialist will contact you to help you.
To apply for up to $100,000, you’ll need identification details (valid Driver’s Licence), 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 need:
$100K-$250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if you have a loan of more than $150K).
$250K to $500K: Information on the application including credit consent, 12 months of bank records, IRD statement, last 2 years finalised financial statements, as well as interim financial statements for the current year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we usually offer an answer in just one hour if you apply within standard company hours and let us utilise the advanced bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statement, we’ll provide the decision within 1 company day.
For the Larger Business Loan ($100K and up) we could be able to offer you with conditional pre-approval in around six hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this may be quicker depending upon the circumstances for each application. Some offers have been approved within the space of 24 hours.
The quickest way to apply for you to apply is make sure you apply during standard business hours. Also, allow us to use our modern bank verification link to instantly verify your bank account information online. If you choose to send us copies of your bank statements , it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide an answer in just one hour, provided you make your application in standard business hours and let us make use of the advanced bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statements, we are able to provide the decision in as little as 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) We may be able to provide you with pre-approval conditional to your application in around 6 hours. Once you have signed the pre-approval form, it will take about 2-3 days for final approval. However, it could be faster based on the particular circumstances of each application. Certain deals have been approved within the space of 24 hours.
The fastest method would be to ensure you apply during standard business hours. Also, allow us to use our sophisticated bank verification to instantly verify your bank account information online. If you opt to send us copies of your bank accounts, it takes a bit longer.
We offer loans that range from $5,000 and $500,000. When you make an application for a particular amount, we will consider a number of factors in order to assess your health for your business and the extent of repayments that your business can afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your business.
When you apply for a specific amount we look at a range of aspects to determine how much we can lend you such as health of your company and the amount of repayments that your business will be able to support. The amount you receive from the loan will be determined by the particular circumstances of your business.
When you apply for one of our company credit, we’ll assess the risk assessment of your business and offer an individualised offer that includes the loan amount, the terms and interest rates. This business loan is an upfront priced loan and you’ll know the exact amount you will have to pay, including charges or interest.
Interest rates for business loans rates depend on several factors like the amount of money borrowed, what business assets the funds will be used for and the sector the company operates in, how long the business has been in operation for, what percentage of the business has enough cash flow to cover the loan, and the overall health or creditworthiness of the business.
There aren’t any hidden costs with our business loans, and you’ll know precisely how much you’ll be required to pay, and when, right from the very first day. There’s not any compounding interest and no extra fees (as long as you are able to make your payments in time).
We don’t charge an Application Fee. You are able to apply for a loan with no upfront cost or any obligation to sign up.
The Origination Fee covers the costs associated with establishing and managing the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5 percent of the amount of the loan.
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 talk to one of our helpful company loan specialists. We will provide you with details on repayment and an early payment figure. The figure will be calculated as the sum of the remaining principal amount and the accrued interest up to the date of early payout in addition to 1.5% of the principal remaining and any fees that remain unpaid.
To make sure you do not miss payment dates and to align with your cash flow cycle we offer repayments that are either daily or weekly. They are automatically deducted from your nominated business account.
Making sure that your information is secure, and making it clear the ways we gather the information we collect, use, share and ensure the security of your information is crucial and an integral part of our relationship you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our commitment to the security of our customers as well as their privacy. We utilise a sophisticated bank verification system that allows you to instantly verify your bank account information online. This allows us to offer rapid response.
The term "asset-based" refers to borrowing where an company owner borrows from an asset they own to obtain the loan. The asset could be an asset belonging to the personal, like the family home, or it could be a company asset such as a truck or piece or equipment.
The vast majority of lenders, even the big banks, tend to make loans secured by assets. If you’re having trouble paying back the loan, then your asset may be offered for sale by the lender. In essence it’s a way of securing additional financing using the value of what you already own.
For loans that exceed $150K, the requirement for asset security is not required in advance to gain access to the funds however, we do need the personal guarantee. If you adhere to your loan obligations (as stated in your loan contract document) and you are able to meet your obligations, asset security is not required. For loans over $150K typically, you will need a personal guarantee and security in the form of charges on assets.
