The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Do you need more money? Review the guidelines for eligibility for our $100K-$500K business financing.
All that’s needed to get started is your contact information (the name of your company and your name, as well as email, phone), how much you’d like to lend, and your monthly earnings.
During the process and before settlement we will require confirmation of who you are, but not to get started:
Once we’ve started with loans that exceed $150,000, you will also require basic financial statements:
Let’s get started now.
Adelaide unsecured loans offers amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow friendly repayments that are either daily or weekly.
Apply for the Small Business Loan in under 10 minutes on the internet or over the phone, receive a same day response and have the funds in your account within 24 hours. Traditional company loans have an interest rate per annum plus other fees and charges. We offer a 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 either a daily or weekly repayment figure.
The Small Business Loan can be used for virtually any business purpose including control of cash flow business remodeling, marketing to purchase inventory or new equipment, or as general working capital and much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger size of loan that can be used to fund business expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are either weekly or fortnightly in order to accommodate the flow of cash.
The Larger Business Loan has an Origination Fee, determined at 2.5 percentage of the amount of the loan.
To be eligible for a credit in this amount, your business needs to be in operation for at least 3 years and generate an annual revenue of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Larger Business Loan is a great option for almost any company reason, such as business improvements, purchasing equipment or inventory as well as for general working capital and so much more. The loan is not available to fund personal expenses.
Asset security is required for accessing funds over $150,000. It is usually by way of charge over assets, and could be registered with the PPSR or filing as a caveat.
A personal or director’s guarantee is a guarantee to pay back a loan that is generally based rather than stating security over a particular asset. The person who is signing the guarantee is personally liable in the event that the business borrower is unable to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It contains security interests registered in respect of personal property (including the assets or goods). The PPSR gives prioritisation over property that is personal to be assigned depending on the date that a security interest was registered.
Caveats are legal document that is filed to provide an official notice of a claim against a property.
When you’re applying for larger company loans that exceeds $250K we can offer an initial pre-approval in order to smooth out the process. We might be able to make this decision without a credit check and within six hours of your initial application. The pre-approval is based upon an initial assessment, which involves you answering some financial well-being checks. It’s not an offer or guarantee of financing. The approval of a conditional loan is subject to an extensive credit evaluation and any offer that you receive could be subject to different conditions.
You may be eligible for a business loan if you:
The application process is simple and easy. Just complete the online application within a couple minutes, and a dedicated business lending specialist will call you to guide you through the process.
To apply for up to $100,000 you’ll need the right identification documents (valid Driver’s Licence) as well as 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 require:
$100K – $250K: Details of application, including credit consent, 6-12 months of bank statements, IRD statement (if loan above $150K).
$250K to $500K: Information on the application including credit consent and 12 month bank accounts, the IRD statements, last 2 years finalised financial statements, plus interim financials for the current financial year such as age-related payables and aged Receivables summary.
For an unsecured loan ($5K or more) we can often provide an answer within one hour if you make your application at standard company hours and permit us to utilise the bank verification system to immediately verify your bank account information online. If you want to upload copies of your bank statements , we’ll be able to offer an answer within one company day.
For Larger Business Loans ($100K up to $500,000) we may be able to offer you with a conditional pre-approval in about six hours. After you’ve signed your pre-approval, turnaround times are approximately 2-3 days to receive final approval, however this may be quicker depending on the circumstances of each application. Some offers have been approved within the space of 24 hours.
The quickest way to apply would be to make sure you apply during standard business hours, and allow us to use the advance bank verification link to instantly verify your bank information online. If you send us duplicates of your banking statement, it takes a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually offer an answer within an hour if you apply within normal business times and let us make use of the advanced bank verification system to instantly verify your bank’s information online. If you opt to send us copies of your bank statements, we’ll be able to offer an answer in just one business day.
For Larger Business Loans ($100K and up) we might be able to offer you with conditional pre-approval within about 6 hours. Once you’ve signed your pre-approval document, you will require to wait between 2 and 3 days for the final approval, however this could be shorter based on the specifics of each application. Some deals have been approved within less than 24 hours.
The fastest way is to make sure you apply during standard business hours. Also, let us use the sophisticated bank verification link to instantly verify your bank account information online. If you choose to upload the copies of bank statements, it can take a bit longer.
We provide loan amounts between $5,000 to $500,000. If you apply for a specific amount we will consider a number of factors for determining how much we can lend you health of your company as well as the amount of repayments that your business can support. The amount you receive from the loan will be determined by the specifics of your business.
When you apply for a set amount, we look at a range of aspects to assess the well-being of your company and the level of repayments your company will be able to support. The total amount of the loan will be determined by the specifics of your business.
If you decide to make an application for our company credit, we’ll assess the risk profile the business and offer you with a customised offer that includes the loan amount, the terms and interest rates. It is a business loan is an upfront cost loan so you will be aware in advance of the total amount you will have to pay, including interest rates, fees or charges.
The interest rates on business loans rates depend on several factors such as the amount that is borrowed, what company assets the money are used to purchase in addition to the industry that the company is in, how long the company is in operation, how long the company has sufficient cash flow to cover the loan, and general health or financial standing of the company.
There are no hidden costs with our company loans, and you’ll know precisely how much you’ll be required to pay and when, right from day one. There’s no compounding and the loan comes with no additional fees (as long as you make your payments in time).
We do not charge an application fee. You can request a credit loan no cost upfront or commitment to apply.
The Origination Fee covers the costs associated with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay all of your loan at any point in time.
If you are deciding to do this please call our helpful company credit professionals. They’ll offer you with repayment details and an early payout figure. This will be calculated as the sum of the principal amount remaining and the accrued interest up to the time of early payment, plus 1.5 percent of the principal amount remaining and any outstanding fees.
In order to help you avoid missing payments and to work your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your designated business account.
Making sure that your information is secure, and being upfront about how we collect data, process, exchange and protect your information, is of huge importance and an integral part of our relationship with you.
Yes. We make use of industry-standard encryption techniques to protect your sensitive, personal and financial data and our funders are ISO 27001 qualified for our commitment to customer security and privacy. We employ a highly sophisticated bank verification system to instantly confirm your bank account information online, allowing us to provide an immediate response.
The term "asset-based" refers to borrowing where an company owner borrows from an asset they own to secure the funding. The asset could be an individual asset, such as the family home or it could be a business asset such as a truck or other piece of machinery.
The vast majority of lenders, even the largest banks, are inclined to guarantee loans against assets. If you’re having trouble paying back the loan, then the asset might be sold by the lender. In essence, it’s means of securing new financing by making use of the value of what you already have.
For loans that exceed $150K, no asset security is required prior to the loan’s access however, we do require the personal guarantee. So long as you comply with the loan terms (as stipulated in the loan contract) and you are able to meet your obligations, asset security will never be needed. For loans over $150K generally, there is the option of a personal ensure and security in the form of the charge of assets.
