The eligibility requirements for an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the conditions of eligibility for our $100K to $500K company financing.
All that’s needed for starting is your contact information (the name of your company, your name, email address and phone) along with the amount you’d like to borrow, and your monthly earnings.
Through the process and before settlement we’ll require confirmation of your identity, but not to get started:
Additionally after we get started with loans that exceed $150,000, you’ll also need fundamental financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply for this Small Business Loan in under 10 minutes over the phone, receive a same day response and have the funds available in just 24 hours. Traditional business loans refer to an interest rate per annum together with additional fees and charges. Our business loan is a pre-paid loan so you will be aware in advance of the total amount to be paid, including any fees, interest or charges. Then, it is broken down into weekly or daily amount to be paid back.
It is a Small Business Loan can be used for virtually every company purpose including cash flow management, company remodels and marketing to purchase inventory or new equipment, to fund general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business expansion opportunities. Loans are between $100,000 and $500,000 with a fixed-term that can last up to 36 months. The repayments are made weekly or fortnightly to work with you cashflow.
The Larger Business Loan has an Origination Fee, calculated at 2.5% of the amount of the loan.
To be eligible for a loan of this size the company needs to be operating for at least three years, and have an annual income of $700K. Your business must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old or have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at least 12 months of trading.
A larger business loan can be used for almost all company purpose including business improvements, purchasing equipment or inventory or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. It’s by taking a charge on assets and can include registering this with the PPSR or filing a caveat.
A director’s or personal ensure is a guarantee to repay credit that is generally in nature rather than stating security over a particular asset. The person who signs the ensure is personally accountable if the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It records security interests that have been 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 registration of a security interest.
An affidavit is an official form of document to provide the public notice of a legal claim against a property.
When you’re applying for a Larger Business Loan of more than $250,000 it’s possible to offer an initial pre-approval to smooth out the process. We could be able to do this without a credit check and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health checks. This is neither an offer nor a guarantee of finance. Unconditional approval is subject to an extensive credit evaluation and any offer you receive could be based on different terms.
You may be eligible for an business loan if you;
The process for applying is fast and simple. Just fill out the online application within a couple minutes, and an experienced company lending specialist will call you to guide you.
For a loan of up to $100,000 you’ll require identification details (valid Driver’s License) along with an NZBN/IRD that is valid and at least six months worth of bank statements.
In addition, for larger loan sizes, you’ll need:
$100K – $250K: Information about the application including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Details for application including credit consent, 12 month bank accounts, the IRD statements and the last two years’ finalised financial statements, in addition to interim financials for the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K or more) we can often offer a response in one hour if you make your application in quality business times and let us utilise the bank verification system to instantly verify your bank information online. If you decide to upload copies of your banking statements , we’ll be able to offer the decision within just an business day.
For the Larger Business Loan ($100K and up) we may be likely to provide the conditional pre-approval in around six hours. Once you’ve signed the pre-approval, turnaround times are between 2 and 3 days for the final approval. However, this can be quicker based on the circumstances of each application. Certain transactions have received approval within the space of 24 hours.
The quickest way to apply can be make sure you apply during standard business hours, and permit us to use the modern bank verification to instantly verify your bank account information online. If you send us duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we typically offer an answer within an hour – provided you apply at standard business time and permit us to use the advanced bank verification system to instantly verify your bank information online. If you choose to upload copies of your banking statements, we are able to provide the decision in just an business day.
For Larger Business Loans ($100K up to $500,000) We may be likely to provide the conditional pre-approval within 6 hours. Once you’ve signed your pre-approval, the turnaround time is around 2-3 days for final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within 24 hours.
The fastest way for you to apply is ensure you apply during standard business hours and let us use the advance bank verification to check your bank’s information online. If you opt to upload the copies of bank statements, it can take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you make an application for a specific amount we look at a variety of factors in order to assess the health of your business and the amount of repayments that your business can support. The total amount of the loan will be determined by the specific circumstances of your business.
When you submit an application for a certain amount, we look at a range of elements to assess how much we can lend you such as health for your business as well as the amount of repayments that your company can afford. The amount you receive from the loan will be determined by the particular circumstances that are unique to your company.
When you apply for one of our business loan, we will assess the risk profile of your business and offer you with a customised offer, including the amount of the loan, the duration and the interest rates. A business loan is an upfront priced loan so you will know in advance the total amount payable including any charges, interest rates or fees.
Interest rates for company loans rates depend on several factors like the amount of money borrowed, what company assets the funds are used to purchase and the sector the company operates in, the long the business has been operating as well as whether the business has sufficient cash flow to support the loan, and general well-being or financial standing of the business.
There aren’t any hidden costs with our company loans. You’ll know precisely what you’ll be required to pay and when, starting from day one. There’s no compounding interest and no extra fees (as long as you are able to make your payments on time).
We don’t charge an application fee. You are able to get a cash loan no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved in establishing and managing the loan. The only way to pay this cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of loan.
You can choose to repay all of your loan in full at any time.
If you do decide to do this please speak to our friendly company lending specialists. They’ll offer you with the details of your repayment along with an early payout estimate. The figure will be calculated as the total of the principal amount remaining and accrued interest to the time of early payment plus 1.5% of the principal amount remaining plus any outstanding fees.
In order to help you avoid missing payment dates and to align with your cash flow general, we offer repayments that are either daily or weekly. They will be automatically deducted from your nominated company account.
Security of your data, and being transparent about how we collect data, process, exchange and safeguard your data, is of paramount importance and an integral part of our relationship with you.
Yes. We employ industry-recognised encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 qualified for our dedication to security for our clients and privacy. We use an advanced bank verification system to immediately verify your bank account information online. This allows us to provide rapid response.
The term "asset-based" refers to borrowing where the business owner uses the assets they have to make the funds for a loan. The asset could be an individual asset, such as the family home, or a business asset like a truck or piece or equipment.
The vast majority of banks, not just the major banks, prefer to make loans secured by assets. If you’re struggling to pay back the loan, then your asset may be taken over by the lender. In essence it’s a way of securing new financing using the worth of the asset you already have.
Up to $150K in loans it is not necessary to secure assets prior to the loan’s access, however we do require a personal guarantee. As long as you follow your loan obligations (as stated in the loan contract) Asset security is not required. For loans of over $150,000 generally there is an individual guarantee and security in the form of an asset charge.
