The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Need more funds? Find out the eligibility requirements for our $100K to $500K company loans.
All that’s required to start is your contact information (company name, your name, email and phone) along with the amount you’d like to borrow as well as your monthly income.
While in the process and before settlement we will require confirmation of who you are, but not to get started:
After we start with loans that exceed $150,000, you’ll need basic financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months. They also offer cash flow friendly repayments that are either per day or weekly.
You can apply to this Small Business Loan in under 10 minutes over the phone. You’ll get an instant response and have the funds available in just 24 hours. Traditional company loans have an annual rate of interest as well as other fees and charges. The company loan is a loan that is priced upfront so you will be aware in advance of the amount you will have to pay, including any fees, interest or charges. This is then divided into weekly or daily installment amount.
The Small Business Loan can be used to fulfill almost any company purpose including the management of cash flow, business improvements, advertising, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal reasons.
The Larger Business Loan is a larger amount of loan to help company growth opportunities. Loans range from $100,000 to $500,000 with a fixed-term for up to 36 months. Repayments are either weekly or fortnightly, depending on your situation.
This Larger Business Loan has an Origination Fee that is determined at 2.5% of the amount of the loan.
To qualify for a loan of this size the business needs to be in operation for at least 3 years with an annual turnover of at least $700K. It is necessary to be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 as well as own a New Zealand business (with a valid NZBN/IRD) and be able to demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size can be used for nearly any company reason, such as business renovations, purchase of inventory or new equipment or as general working capital and much more. The loan is not available for personal purposes.
Asset security is needed to obtain funding above $150,000. It is usually as a result of an charge against assets and can be registered through the PPSR or the registration of a caveat.
A director’s or personal guarantee is a guarantee to pay off a credit line that is generally in nature rather than stipulating the security of a specific asset. The person who is signing the guarantee is personally accountable if the company borrower is unable to re-pay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It contains security interests registered in respect of personal property (including objects or assets). The PPSR permits the priority of personal property granted in accordance with the date on which a registration of a security interest.
A caveat is a legal document lodged to offer the public notice of a legal claim to a property.
When you’re applying for the Larger Business Loan of more than $250,000, we may offer an initial pre-approval to make the process. We may be able to get this done without credit checks and within 6 hours of the initial application. This pre-approval is based on an initial assessment, which involves answering a couple of financial well-being questions. It is in no way an offer, nor is it a guarantee of funds. Acceptance without condition is subject to an assessment of your creditworthiness and any offer that you might receive could have different terms.
You are eligible to apply for a company loan if you:
The application process is quick and simple. Just fill out the online application in few minutes and an experienced company lending specialist will call you to help you.
To be eligible for up to $100,000 you’ll require identification details (valid Driver’s Licence), a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K to $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details for application including credit consent, 12 months bank statement, an IRD statements as well as the two most recent years’ financial statements, and interim current financial year financials, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K or more) we can often offer an answer in just one hour if you apply within quality business timings and you allow us to use the advanced bank verification system link to instantly verify your bank details online. If you want to submit copies of your bank statements we can offer a decision within the span of one business day.
For Larger Business Loans ($100K and up) we could be able to offer the conditional pre-approval in around six hours. Once you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, this can be quicker based on the circumstances of each application. Some agreements have been approved within just 24 hours.
The fastest way for you to apply is ensure you apply during standard company hours and permit us to use the advance bank verification to instantly check your bank’s information online. If you decide to send us documents from your account accounts, it may take a bit longer.
For the Small Business Loan ($5K up to $100,000) We can usually provide a response in one hour, provided you submit your request within normal business hours and let us utilise the advanced bank verification system to immediately verify your bank account information online. If you decide to send us copies of your bank statements, we are able to offer an answer in just an business day.
For the Larger Business Loans ($100K up to $500,000) we might be likely to offer you with conditional pre-approval in about 6 hours. Once you’ve signed your pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this can be faster depending on the particular circumstances of each application. Certain agreements have been approved in just 24 hours.
The most effective method for you to apply is make sure you apply during normal business hours. Also, allow us to use the advance bank verification link to check your bank’s information online. If you send us duplicates of your banking statement, it takes a bit longer.
We provide the loan amount between $5,000 and $500,000. When you submit an application for a particular amount, we will consider a number of factors for determining the health that is your company and the level of repayments your company can support. The amount you receive from your loan will be contingent on the particular circumstances for your business.
When you apply for a certain amount, we look at a range of elements to determine the well-being for your company and the extent of payments your business can support. The amount you receive from the loan will be determined by the particulars the company.
When you make an application for one of our business loan, we’ll assess the risk assessment of your business and provide you with a customised proposal that includes the loan amount, the terms and interest rates. The company loan is a loan that is priced upfront and you’ll know the exact amount payable including any interest rates, fees or charges.
Business loan interest rates depend on several factors like the amount of money that is borrowed, what company assets the money will be used for and the sector the business is operating in, how long the company is in operation and how long the company has enough cash flow to support the loan, and the overall well-being and creditworthiness of the company.
There aren’t any hidden costs with our company loans. You’ll know exactly how much it is that you need to pay, and at what time, from the day you sign up. There’s no compounding interest and no additional fees (as as long as you pay your payments on time).
We don’t charge an Application Fee. You can make an application for loans with without any upfront costs or obligation to proceed.
The Origination Fee covers the expenses involved with establishing and managing the loan. This is only a fee if you choose to proceed with the loan. The Origination Fee for us is 2.5% of the amount of the loan.
You may choose to pay back all of your loan in full at any time.
If you decide to pursue this option, please talk to one of our helpful company credit specialists. They’ll provide you with details on repayment along with an early payout estimate. The figure will be calculated as the total of the remaining principal amount plus any accrued interest as of the time of the early payout and 1.5 percent of the principal balance and any outstanding fees.
To ensure that you don’t miss payments and to work your cash flow schedule, we offer repayments either weekly or daily. These are automatically withdrawn from your business account.
The security of your personal information, as well as being clear about the ways we gather, use, exchange and ensure the security of your information is of huge importance and is an essential part of our relationship with you.
Yes. We use industry recognised encryption standards to secure your sensitive, personal and financial data and our funders are ISO 27001 certified for our commitment to security for our customers and security. We employ an exceptionally sophisticated bank verification system to immediately verify the bank account details online so we can provide an immediate response.
Asset-based borrowing occurs when the business owner makes use of assets they own to get the funds for a loan. The asset can be either an individual property, such as the family home, or an company asset such as a truck or piece or equipment.
The majority of lending institutions, including the major banks, prefer to secure loans against assets. If you’re having trouble paying back the loan, the asset could be transferred to the lender. In essence, it is an opportunity to secure additional financing taking advantage of the value of what you already have.
For loans of up to $150,000, the requirement for asset security is not required upfront to access the money however, we do require the personal guarantee. So long as you comply with your loan commitments (as stated in your loan contract document) Asset security is not required. For loans that exceed $150K, typically, you will need an individual ensure and security in the form of the charge of assets.
