The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Review the eligibility requirements for our $100K to $500K company financing.
All that’s needed to begin is your contact information (company name, your name, email address and phone) along with the amount you want to borrow, as well as your monthly income.
While in the process and before settlement we will require confirmation of your identity but not for starting:
After we start, for loans over $150,000 you’ll also need basic financial statements.
Let’s get started.
Adelaide unsecured loans provides amounts between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
You can apply for your Small Business Loan in under 10 minutes via the internet or over the phone, receive a same day response and the funds could be in your account within 24 hours. Traditional business loans have an annual interest rate as well as other fees and charges. Our company loan is a loan that is priced upfront and you’ll know ahead of time the amount you will have to pay, including any interest, fees or charges. This is then broken down into a daily or weekly installment amount.
A Small Business Loan can be used to fulfill almost every business purpose including cash flow management, company improvements, advertising to purchase inventory, new equipment, for general working capital and so much more. The loan cannot be used for personal reasons.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term that can last up to 36 months. Repayments are scheduled weekly or fortnightly, depending on you cashflow.
It is crucial to note that the Larger Business Loan has an Origination Fee that is determined at 2.5% of the loan amount.
In order to be eligible for a loan of this size the company needs to be trading for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 or have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at the least 12 months of operating.
A large business loan can be used for nearly any business need, including company renovations, to purchase equipment or inventory, as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is necessary for accessing funds over $150,000. This is by taking a charge on assets and can include the registration of this through the PPSR or filing a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature rather than defining the security for a particular asset. The person who signs the ensure is personally liable in the event that the company the borrower fails to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be assigned according to the date the security interest that is registered.
A caveat is a legal document filed to provide the legal claim to property.
If you’re requesting the Larger Business Loan that is greater than $250K we may be able to provide an initial pre-approval to ease the process. We may be able to do this without credit checks and within six hours of your initial application. The pre-approval process is based on an initial assessment that includes the answer to a series of financial well-being checks. This is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an extensive credit evaluation and any offer you receive could be based on different terms.
You can apply for a company loan if you
The process for applying is fast and simple. Just fill out the online application in just a few minutes, and an experienced business credit specialist will contact you to help you.
For a loan of up to $100,000 you’ll need the right identification documents (valid Driver’s Licence), a valid NZBN/IRD as well as at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K – $250K: Details of 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 statement and the last two years’ finalised financial statements, plus interim financials from the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K or more) we usually provide an answer within an hour, provided you apply at quality company hours and let us use the advanced bank verification system to instantly verify your bank details online. If you opt to upload copies of your banking statements we can offer an answer within 1 company day.
For Larger Business Loans ($100K and up) we may be likely to provide you with pre-approval conditional to your application in around six hours. Once you’ve signed the pre-approval, the turnaround time is about 2-3 days for final approval. However, this could be shorter based upon the circumstances for each application. Some deals have been approved within 24 hours.
The quickest method can be make sure you apply during standard company hours and allow us to use the advanced bank verification system link to verify your bank information online. If you opt to send us duplicates of your banking accounts, it takes a bit longer.
For the Small Business Loan ($5K to $100K) we can often offer an answer within an hour – as long as you submit your request within normal business timings and permit us to use the bank verification system to instantly verify your bank details online. If you decide to send us copies of your bank statement, we’ll offer the decision within the span of one business day.
For Larger Business Loans ($100K and up) we could be likely to offer the conditional pre-approval in around six hours. Once you have signed the pre-approval, the turnaround time is around 2-3 days for final approval, however this could be shorter based on the particular circumstances of each application. Some transactions have received approval in just 24 hours.
The most efficient method for you to apply is make sure you apply during standard business hours, and permit us to use the sophisticated bank verification to confirm your bank details online. If you upload documents from your account accounts, it can take a bit longer.
We offer the loan amount between $5,000 to $500,000. When you make an application for a particular amount, we look at a variety of elements in order to assess what is the well-being of your business and the amount of repayments that your company can support. The amount you receive from the loan will be determined by the particular circumstances of your company.
When you apply for a set amount, we take into consideration a variety of variables to determine your health for your company and the extent of repayments that your business is able to afford. The total amount of the loan will be determined by the particular circumstances for your company.
If you decide to request the business loans, we will assess the risk assessment of your business and provide you with a customised offer including the loan amount, the terms and interest rates. The company loan is an upfront priced loan therefore you will be aware of the total amount due, which includes any charges or interest.
Interest rates for business loans rates vary due to factors including the amount borrowed, the company assets the funds are used to purchase and the sector the company operates in, how long the business has been in operation and whether the company has enough cash flow to fund the loan, and also the general well-being or creditworthiness of the company.
There are no hidden fees for our business loans, and you’ll know exactly how much you be required to pay, and when, right from the very first day. There’s no compounding interest, and no extra fees (as as you make your payments in time).
We do not charge an application fee. You can get a cash loan with without any upfront costs or any obligation to sign up.
The Origination Fee includes the expenses associated with setting up and managing the loan. This is only a cost if you take out the loan. Our Origination Fee is 2.5 percent of the amount of the loan.
You can decide to repay the entire amount of the loan at any point in time.
If you choose to pursue this option, please call our helpful business loan experts. The specialists will provide you with details for repayment and an early payout figure. This is calculated as the sum of the remaining principal amount plus any accrued interest as of the time of early payout, plus 1.5% of the remaining principal plus any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we offer repayments either daily or weekly. These are automatically withdrawn from the nominated business account.
The security of your personal information, as well as making it clear how we collect, use, exchange and protect your information, is of paramount importance and is an essential part of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 certified for our commitment to protecting the security of clients and security. We make use of an advanced bank verification system to immediately confirm your bank account information online, allowing us to provide quick responses.
An asset-based loan is when the company owner makes use of assets they own to make a loan. The asset may be an individual asset, such as the family home or an business property like a truck or piece of equipment.
The vast majority of the lenders not just the largest banks, are inclined to guarantee loans against an asset. If you’re having trouble paying back the loan then your assets could be taken over by the lender. In essence it’s means of securing new funding using the value of what you already have.
For loans that exceed $150,000, the requirement for asset security is not required before you are able to access the money, however we do require the personal guarantee. In the event that you fulfill the terms of your loan (as detailed in the loan contract), asset security will never be required. For loans of over $150K generally, there is the option of a personal ensure and security in the form of the charge of assets.
