The requirements for getting an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the guidelines for eligibility for our $100K to $500K business credit.
All that’s needed to get started is your contact information (company name, your name, email address or phone number), how much you’d like to borrow as well as your monthly income.
During the process and before settlement we will require confirmation of your identity, but not before we can begin:
In addition, once we have started in the process, for loans of more than $150,000 you’ll also require the following financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
The application for your Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and the funds could be available in just 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. The business loan is an upfront priced loan and you’ll be aware in advance of the total amount payable including any interest, fees or charges. Then, it is divided into a daily or weekly payment amount.
A Small Business Loan can be used for virtually every company purpose including managing cash flows, company remodeling, marketing to purchase inventory or new equipment, to fund general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans range between $100,000 and $500,000 with a fixed-term with a maximum of 36 months. The repayments are made weekly or fortnightly, depending on your cash flow.
The Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To be eligible for a loan in this amount the business needs to have been trading for at least 3 years with an annual turnover of $700,000. You must be a New Zealand Citizen (or Permanent Resident) over 18 years, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at minimum 12 months of business.
A Larger Business Loan can be used for nearly any business purpose including company renovations, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal reasons.
Asset security is needed to obtain funding above $150,000. This can be done as a result of an charge over assets, and may include registration through the PPSR or registering as a caveat.
A director’s or personal guarantee is a promise to pay back a loan that is general in nature, rather than defining the security of a specific asset. The person who signs the ensure is personally liable if the company borrower is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR allows priority over personal property to be granted in accordance with the date on which a registration of a security interest.
An affidavit is an official document that is filed to provide notice of a legal claim on a property.
When you’re applying for the Larger Business Loan that exceeds $250K it is possible to offer an initial pre-approval to simplify the process. We may be able to do this without a credit verification and within six hours of your initial application. The pre-approval process is based on an initial evaluation that involves answering a couple of financial health questions. It’s neither an offer nor a guarantee of financing. Acceptance without condition is subject to an exhaustive credit evaluation, and any offer you are offered could be based on different terms.
You are eligible to apply for a company loan if you:
The process for applying is fast and simple. Just complete the online application within a few minutes and an experienced company expert in lending will contact you to help you.
To apply for up $100,000 you’ll require identification details (valid Driver’s License) as well as an active NZBN/IRD, and at least 6 months’ worth of bank statements.
Otherwise, for larger loan 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, 12 month bank accounts, the IRD statement as well as the two most recent years’ financial statements, in addition to interim financial statements for the current year such as age-related payables and aged Receivables summaries.
For an unsecured loan ($5K and up) we usually offer an answer within one hour – as long as you make your application in quality business time and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to upload copies of your bank statement, we’ll offer an answer within one company day.
For the Larger Business Loan ($100K and up) we could be capable of offer you with a conditional pre-approval within six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some agreements have been approved in less than 24 hours.
The fastest way is to make sure you apply during normal company hours. Also, allow us to use our modern bank verification to verify your bank account information online. If you choose to upload the copies of bank statement, it takes a bit longer.
For the Small Business Loan ($5K or more) We can usually provide an answer within one hour if you apply in normal business time and permit us to utilise the advanced bank verification system to instantly verify your bank details online. If you want to upload copies of your banking statements we can offer the decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be capable of offer you with conditional pre-approval in around six hours. After you’ve signed the pre-approval, turnaround times are about 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Certain deals have been approved in the space of 24 hours.
The quickest method is to ensure you apply during standard business hours and let us use the advanced bank verification system link to instantly verify your bank information online. If you opt to upload duplicates of your banking statements it can take a bit longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a particular amount, we look at a variety of variables to determine the well-being of the business and the amount of payments your company can afford. The amount you receive from your loan will be contingent on the specific circumstances that are unique to your company.
When you make an application for a certain amount, we consider a variety of aspects to determine how much we can lend you such as well-being for your company and the amount of repayments your business can afford. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
When you apply for the business credit, we will assess the risk assessment that you have for your business and provide an individualised offer, including the amount of the loan, the duration and interest rates. A business loan is a loan that is priced upfront and you’ll be aware in advance of the total amount payable including any charges, interest rates or fees.
Business loan interest rates depend on several factors including the amount of money borrowed, the business assets the money will be used for and the sector the company operates in, how long the company is in operation for, in the event that the business has sufficient cash flow to cover the loan, and also the general well-being or financial standing of the business.
There aren’t any hidden costs for our company loans. You’ll know precisely how much it is that you need to pay, and when, from the very first day. There’s no compounding interest and the loan comes with no additional fees (as long as you are able to make your payments punctually).
We don’t charge an application fee. You can make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. The only way to pay this fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can repay the entire amount of your loan early at any time.
If you decide to take this route, please contact our helpful company loans experts. They will provide you with repayment details and an early payment figure. This is calculated as the sum of the principal amount remaining and any accrued interest at the date of early payout plus 1.5 percent of the principal remaining as well as any outstanding fees.
To help you avoid missing payment dates and to align with your cash flow cycle we provide repayments either daily or weekly. They are automatically deducted from the nominated business account.
Security of your data, and being clear about how we collect information, use it, and exchange it, as well as secure your information, is of paramount importance and is an essential part of our relationship with 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 dedication to the security of our customers as well as their security. We make use of an advanced bank verification system link to instantly confirm your bank account information online to offer rapid response.
The term "asset-based" refers to borrowing where a company owner borrows from an asset that they own to secure the funds for a loan. The asset can be either an asset belonging to the personal, like the family home, or a company property like a truck or piece of equipment.
The vast majority of lenders, even the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, your asset may be taken over by the lender. In essence it’s the process of securing new financing by taking advantage of the value of what you already own.
For loans up to $150K no asset security is required prior to the loan’s access however, we require a personal guarantee. require a personal guarantee. So long as you comply with the terms of your loan (as stated in your loan contract document), asset security is not needed. For loans of over $150K generally there is the option of a personal guarantee and security is provided in the form of the charge of assets.
