The eligibility requirements for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Find out the conditions of eligibility for our $100K-$500K business credit.
All you need for starting is your contact information (company name and your name, as well as email or phone number), how much you’d like to borrow and your monthly revenue.
Through the process and before settlement we will require confirmation of your identity, but not for starting:
Once we’ve started with loans over $150,000 you’ll need the following financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months, cash flow friendly repayments, which are either daily or weekly.
Apply to get your Small Business Loan in under 10 minutes over the phone, receive a same day response and the funds could be on your account within 24 hours. Traditional business loans reference an interest rate per annum along with other charges and fees. Our company loan is a cash-based loan which means you know in advance the total amount payable including the interest, fees and charges. This is then broken down into weekly or daily installment amount.
A Small Business Loan can be used for virtually any business need, such as managing cash flows, business improvements, advertising for purchasing inventory or new equipment, for general working capital and so much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger size of loan that can be used to fund company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are weekly or fortnightly in order to accommodate your cash flow.
It is crucial to note that the Larger Business Loan has an Origination Fee, which is calculated at 2.5 percent of the loan amount.
To qualify for a loan in this amount, your business needs to be operating for at least three years and have an annual turnover of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) with a minimum age of 18 years old as well as own a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Larger Business Loan can be used for nearly all company purpose including company improvements, purchasing inventory or new equipment for general working capital and much more. The loan is not available for personal use.
Asset security is required to access funding over $150,000. It is usually by taking a charge against assets, which could also include the registration of this with the PPSR or making as a caveat.
A director’s or personal guarantee is a commitment to pay back a loan that is general in nature, rather than defining security over an asset. The person signing the guarantee is personally responsible if the business 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 reflects security interests granted to individuals who own personal property (including objects or assets). The PPSR allows the priority of personal property assigned in accordance with the date on which a security interest was registered.
A caveat is a legal document lodged to provide an official notice of a claim to property.
If you’re requesting a Larger Business Loan of more than $250,000 we can offer an initial pre-approval in order to ease the process. We could be able to do this without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial evaluation that involves answering a couple of financial health questions. This is in no way an offer, nor is it a guarantee of financing. A conditional approval is subject an exhaustive credit evaluation, and any offer that you receive could be based on different terms.
You are eligible to apply for an company loan if you
The application process is fast and simple. Simply complete the online form within a few minutes and an experienced company lending specialist will call you to guide you.
To be eligible for up to $100,000, you’ll require identification details (valid Driver’s License) and an active NZBN/IRD, and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Information about the application including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details of the application, including credit consent, 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, as well as interim financials from the current financial year such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K and up) we can often provide a response in one hour, provided you apply during quality business timings and let us make use of the advanced bank verification system to instantly verify your bank information online. If you decide to send us copies of your bank statements , we’ll be able to offer an answer in as little as one company day.
For the Larger Business Loan ($100K and up) we could be capable of offer you with pre-approval conditional to your application in about 6 hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this may be quicker depending on the specifics of each application. Some deals have been approved in the space of 24 hours.
The fastest way for you to apply is ensure you apply during normal company hours. Also, let us use the advance bank verification to instantly verify your bank information online. If you opt to upload copies of your bank statement, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) we usually provide an answer within one hour – provided you make your application within normal business time and let us use 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 will be able to offer a decision within one business day.
For the Larger Business Loans ($100K and up) we could be likely to provide you with a conditional pre-approval in around 6 hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval, however this could be shorter based on the specifics of each application. Certain agreements have been approved within the space of 24 hours.
The most effective method for you to apply is ensure you apply during standard business hours. Also, allow us to use the sophisticated bank verification link to instantly verify your bank account information online. If you decide to upload the copies of bank statements it takes a bit longer.
We offer the loan amount between $5,000 to $500,000. When you submit an application for a certain amount, we take into consideration a range of elements for determining the well-being of the company and the level of repayments your company will be able to support. The total amount of your loan will depend on the particular circumstances for your business.
When you submit an application for a certain amount, we take into consideration a variety of aspects to assess how much we can lend you such as well-being of the company and the extent of repayments your business is able to afford. The amount you receive from the loan will be determined by the particulars for your business.
When you make an application for the business loans, we’ll assess the risk profile of your company and offer an individualised proposal that includes the amount of loan, the term and interest rates. This company loan is an upfront-priced loan and you’ll know the exact amount to be paid, including any charges or interest.
Business loan interest rates depend on several variables like the amount to be borrowed, the company assets the money will be used for, the industry the company operates in, the long the business has been in operation, in the event that the company has enough cash flow to pay for the loan, and overall health and creditworthiness of the company.
There are no hidden costs with our business loans. You’ll know exactly how much it is that you be required to pay, and at what time, from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments in time).
We don’t charge an Application Fee. You can request a credit loan without any upfront costs or the obligation to take action.
The Origination Fee covers the costs associated with setting up and managing the loan. This is only a fee if you proceed with the loan. The Origination Fee for us is 2.5% of the amount of loan.
You can decide to repay all of your loan at any point in time.
If you do decide to do this please speak to our friendly company lending professionals. They will offer you with details on repayment and an early payout figure. The figure will be calculated as the sum of the principal balance and the accrued interest up to the date of early payout and 1.5% of the principal balance as well as any outstanding fees.
To help you avoid missing payment dates and to align your cash flow cycle we provide repayments either weekly or daily. These are automatically deducted from the nominated company account.
Protecting your information, and being transparent about how we collect data, process, exchange and ensure the security of your information is crucial and a vital element of our relationship with you.
Yes. We utilise industry-recognised encryption protocols to safeguard your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to the security of our customers as well as their privacy. We make use of an advanced bank verification system to instantly verify your bank account details online so we can provide a fast response.
The term "asset-based" refers to borrowing where an company owner utilises the assets they have to make the loan. The asset can be a personal asset like the family home, or a company property like a truck or piece of equipment.
The majority of banks, not just the big banks, tend to secure loans against an asset. If you’re struggling to pay back the loan then your asset may be transferred to the lender. In essence, it’s means of securing new financing by using the worth of the asset you already own.
For loans up to $150K there is no requirement for asset security in advance to gain access to the funds However, we require a personal guarantee. require an individual guarantee. In the event that you fulfill your loan obligations (as specified in your loan contract document) Asset security will never be needed. For loans that exceed $150,000, typically, you will need a personal ensure and security in the form a charge over assets.
