The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Looking for more funding? Review the guidelines for eligibility for our $100K-$500K company financing.
All that’s needed to begin is your contact information (the name of your company, your name, email and telephone) and the amount you’d like to borrow as well as your monthly income.
In the course of the process and before settlement we will need confirmation of your identity, but not to get started:
After we start with loans over $150,000 you’ll need basic financial statements.
Let’s get started now.
Adelaide unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months, cash flow friendly repayments that are either per day or weekly.
Apply to the Small Business Loan in under 10 minutes on the internet or over the phone, receive an answer within the same day and the funds could be in your account in 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. This business loan is a cash-based loan and you’ll be aware of the total amount payable including any interest, fees or charges. This is then broken down into a daily or weekly amount to be paid back.
The Small Business Loan can be used for virtually every business use, including managing cash flows, business improvements, advertising to purchase inventory, new equipment, to fund general working capital, and much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger size of loan that can be used to fund company growth opportunities. Loans range between $100,000 and $500,000 with a fixed-term that can last up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
The Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the amount of the loan.
To be eligible for a loan in this amount the business needs to be operating for at least three years and have an annual turnover of at least $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A Larger Business Loan can be used for nearly any business need, including business remodeling, buying new equipment or inventory or as general working capital, and much more. The loan is not available for personal use.
Asset security is necessary to obtain funding above $150,000. This is in the form of a charge on assets, and may include registering this through the PPSR or filing as a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature rather than specifying security over an asset. The person signing the guarantee is personally accountable if the company creditor is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online central register operated by the New Zealand Government. It records security interests that have been which are registered with respect to personal property (including objects or assets). The PPSR gives the priority of personal property assigned in accordance with the date on which a security interest has been registered.
Caveats are legal document lodged to offer notice of a legal claim to property.
If you’re requesting a Larger Business Loan of $250,000 or more we can offer an initial pre-approval that will help simplify the process. We could be able to make this decision without a credit check, and within 6 hours of the initial application. This pre-approval is based on a preliminary assessment which includes the answer to a series of financial health checks. It is in no way an offer, nor is it a guarantee of credit. Acceptance without condition is subject to a full credit assessment and any offer you are offered could be on different conditions.
You are eligible to apply for an company loan if you:
The application process is simple and easy. Simply complete the online form in few minutes and a dedicated company credit specialist will be in touch to assist you.
To apply for up $100,000 you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD and at least six months worth of bank statements.
If you’re looking for loans with larger sizes, you’ll need:
$100K – $250K: Application details including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Details for application including credit consent and 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year including Aged Payables, Aged Receivables Summary.
For an unsecured loan ($5K or more) We can usually provide an answer within one hour – as long as you submit your request within quality business timings and you allow us to make use of the advanced bank verification system to instantly verify your bank’s information online. If you want to send us copies of your bank statements we can offer the decision within just the span of one business day.
For Larger Business Loans ($100K and up) we might be in a position to offer you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will require to wait approximately 2-3 days to receive final approval. However, it could be faster based on the specifics of each application. Some deals have been approved in 24 hours.
The most efficient method is to make sure you apply during normal company hours, and allow us to use the advance bank verification to check your bank’s information online. If you choose to send us the copies of bank accounts, it may take a bit longer.
For the Small Business Loan ($5K to $100K) We can usually offer an answer within one hour if you submit your request at normal business time and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements, we will be able to offer an answer in as little as one business day.
For Larger Business Loans ($100K to $500K) we may be in a position to offer you with a conditional pre-approval within six hours. After you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this may be quicker depending on the specifics of each application. Certain agreements have been approved in 24 hours.
The most effective method is to ensure you apply during normal business hours. You can also permit us to use the advance bank verification to instantly check your bank’s information online. If you decide to send us the copies of bank statements, it may take a bit longer.
We provide loans that range from $5,000 to $500,000. When you submit an application for a particular amount, we will consider a number of variables that determine what is the health for your business as well as the amount of repayments your business can afford. The total amount of your loan will depend on the particular circumstances for your business.
When you apply for a certain amount, we look at a range of elements to assess how much we can lend you such as health of the business and the extent of repayments that your business can support. The amount you receive from the loan will be determined by the specifics for your business.
If you decide to request business loans with us business loan, we will assess the risk profile the company and provide you with a tailored offer including the amount of loan, the term and the interest rates. This company loan is an upfront-priced loan and you’ll know in advance the total amount to be paid, including any interest rates, fees or charges.
Business loan interest rates depend on a variety of factors such as the amount that is that is borrowed, what company assets the money are used to purchase and the sector the business is operating in, how long the business is in operation as well as whether the company has sufficient cash flow to cover the loan, and the general health or creditworthiness of the business.
There are no hidden fees for our business loans, and you’ll know exactly how much you’ll need to pay, and at what time, from the very first day. There’s no compounding and no extra 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 no upfront cost or the obligation to take action.
The Origination Fee is the cost associated with establishing and managing the loan. You are only charged this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percentage of the amount of loan.
You can choose to repay the entire amount of your loan in full at any time.
If you decide to do this please speak to our friendly business lending specialists. They’ll provide you with the details of your repayment and an early payout figure. The figure will be calculated as the total of the principal balance and any accrued interest at the time of early payout, plus 1.5% of the principal balance plus any outstanding fees.
To help you avoid missing due dates and also to be in line with your cash flow routine, we offer repayments that are either daily or weekly. They are automatically deducted from your company account.
Making sure that your information is secure, and making it clear how we collect information, use it, and exchange it, as well as ensure the security of your information is crucial and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to customer security and privacy. We use an advanced bank verification system to instantly confirm your bank account information online to offer an immediate response.
An asset-based loan is when a business owner uses the assets they have to secure the funding. The asset could be an asset belonging to the personal, like the family home, or a business asset such as a vehicle or piece or equipment.
The vast majority of lenders, including the largest banks, are inclined to guarantee loans against an asset. If you have trouble paying back the loan then the asset could be offered for sale by the lender. In essence, it’s means 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 upfront to access the money However, we do need a personal guarantee. So long as you comply with the loan terms (as stipulated in your loan contract), asset security is not required. For loans of over $150K generally, there is personal ensure and security is provided in the form of a charge over assets.
