The eligibility requirements for an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Looking for more funding? Review the eligibility requirements for our $100K-$500K business loans.
All that is needed to start is your contact information (company name, your name, email and phone) along with the amount you want to borrow, as well as your monthly income.
While in the process and before settlement we’ll require confirmation of your identity but not to get started:
In addition, once we have started, for loans over $150,000 you’ll also require basic financial statements:
Let’s get started.
Adelaide unsecured loans offers the range of $5,000 to $100,000. The terms range between 3 and 24 months, cash flow friendly repayments which can be made daily or weekly.
The application to get the Small Business Loan in under 10 minutes via the internet or on the phone. You’ll receive an immediate response, and have the funds in your account in 24 hours. Traditional company loans reference an annual rate of interest as well as other fees and charges. Our company loan is an upfront priced loan which means you know in advance the amount you will have to pay, including any interest, fees or charges. This is then broken down into weekly or daily installment amount.
It is a Small Business Loan can be used for almost any company purpose including cash flow management, business remodels and marketing to purchase inventory, new equipment, or as general working capital and so much more. The loan cannot be used for personal purposes.
The Larger Business Loan is a larger loan size to support business growth opportunities. Loans are between $100,000 and $500,000 with a fixed-term for up to 36 months. The repayments are made weekly or fortnightly depending on your cash flow.
It is important to note that the Larger Business Loan has an Origination Fee which is calculated at 2.5 percent of the amount of the loan.
In order to be eligible for a loan in this amount, your business needs to be trading for at least 3 years, and have an annual income of $700,000. It is necessary to be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of continuous trading.
A larger company loan can be used to fund almost all business purpose including company renovations, to purchase inventory or new equipment, as general working capital, and much more. The loan cannot be used for personal purposes.
Asset security is needed to obtain funding above $150,000. This can be done by taking a charge on assets, and could include registering this on the PPSR or making a caveat.
A personal or director’s guarantee is a commitment to pay off a credit line that is general in nature, rather than specifying security over a particular asset. The person who is signing the ensure is personally liable if the business the borrower fails to re-pay the debt.
The Personal Property Securities Register (PPSR) is a central, national online register that is operated by the New Zealand Government. It lists security interests that are registered in respect of personal property (including objects or assets). The PPSR grants preference over private property granted depending on the date that a security interest that is registered.
An affidavit is an official document lodged to offer notice of a legal claim against a property.
When you’re applying for a Larger Business Loan that exceeds $250,000 we may be able to provide an initial pre-approval to smooth out the process. We may be able to get this done without credit checks and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes answering a couple of financial well-being questions. It is neither an offer nor a guarantee of credit. A conditional approval is subject an assessment of your creditworthiness and any offer that you receive could be based on different terms.
You may apply for a business loan if you;
The process for applying is fast and easy. Just fill out the online application within a couple minutes, and an experienced company loan specialist will contact you to assist you.
To apply for up $100,000, you’ll need proof of identity (valid Driver’s License), an active NZBN/IRD, and at least six months of bank statements.
For larger loan sizes, you’ll need:
$100K-$250K: Application requirements, including credit consent, 6-12 months of bank statements, IRD statement (if you have a loan of more than $150K).
$250K-$500K: Details for application including credit consent twelve months bank statement, an IRD statement Last 2 years’ finalised financial statements, in addition to interim financial statements for the current year including Aged Payables, Aged Receivables reports.
For an unsecured loan ($5K to $100K) we can often provide a response in one hour if you submit your request at quality business timings and allow us to use the advanced bank verification system to instantly verify your bank details online. If you want to submit copies of your bank statements , we are able to offer the decision in just 1 company day.
For Larger Business Loans ($100K up to $500,000) we could be in a position to provide you with pre-approval conditional to your application within six hours. After you’ve signed the pre-approval document, you will require to wait around 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some deals have been approved in the space of 24 hours.
The quickest method for you to apply is ensure you apply during normal company hours. You can also let us use the advance bank verification link to instantly verify your bank information online. If you send us duplicates of your banking statements it takes a bit longer.
For the Small Business Loan ($5K and up) We can usually provide an answer within an hour – provided you apply at standard business times and allow us to utilise the advanced bank verification system link to instantly verify your bank details online. If you want to upload copies of your banking statements we can provide an answer in just the span of one business day.
If you are applying for Larger Business Loans ($100K or more) we may be able to offer the conditional pre-approval within 6 hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval. However, this may be quicker depending on the circumstances of each application. Some deals have been approved within less than 24 hours.
The quickest method is to make sure you apply during normal business hours. Also, allow us to use our modern bank verification to instantly verify your bank information online. If you choose to send us duplicates of your banking accounts, it may take a bit longer.
We offer loan amounts between $5,000 and $500,000. If you apply for a certain amount we take into consideration a range of aspects to determine your well-being for your company and the extent of the repayments your company can afford. The total amount of your loan will be contingent on the particular circumstances the business.
When you submit an application for a certain amount, we take into consideration a variety of factors to determine how much we can lend you such as well-being for your business as well as the amount of the repayments your business can afford. The amount you receive from your loan will be determined by the specific circumstances of your business.
When you apply for the business loans, we will assess the risk profile of your business and offer an individualised offer including the amount of the loan, the duration and the interest rates. A company loan is a loan that is priced upfront therefore you will know the exact amount you will have to pay, including charges or interest.
Business loan interest rates depend on a variety of factors such as the amount that is that is borrowed, what company assets the money will be used for and the sector the company operates in, the long the business is in operation as well as in the event that the business has enough cash flow to cover the loan, and also the overall health as well as creditworthiness company.
There are no hidden costs for our business loans. You’ll be aware of the amount you’ll need to pay and when, starting from the first day. There’s no compounding interest, and there are no additional charges (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 with no upfront cost or the obligation to take action.
The Origination Fee includes the expenses associated with the setting up and management of the loan. You are only charged this cost if you take out the loan. Our Origination Fee is 2.5 percentage of the amount of loan.
You may choose to pay back the total amount of your loan at any point in time.
If you choose to pursue this option, please speak to our friendly company credit specialists. We will provide you with details on repayment along with an early payout estimate. It will be calculated using the sum of the principal remaining and the accrued interest up to the time of early payment, plus 1.5 percent of the principal balance and any outstanding fees.
In order to help you avoid missing due dates and also to be in line your cash flow schedule, we offer repayments that are either daily or weekly. These are automatically deducted from your company account.
Making sure that your information is secure, and knowing how we collect information, use it, and exchange it, as well as protect your information, is vital and is a crucial part of our relationship you.
Yes. We utilise industry-recognised encryption standards to secure your sensitive, personal financial information and our funders are ISO 27001 qualified for our commitment to security for our clients and security. We employ an exceptionally sophisticated bank verification system that allows you to immediately verify your bank account information online so we can offer quick responses.
Asset-based borrowing occurs when a business owner borrows from assets they own to obtain the loan. The asset can be either 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 big banks, tend to guarantee loans against assets. If you’re having trouble paying back the loan then the asset could be transferred to the lender. In essence it is a way of securing new financing making use of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security in advance to gain access to the funds but we do require a personal guarantee. So long as you comply with your loan commitments (as stated in your loan contract) Asset security is not needed. If you take out loans in excess of $150K generally there is an individual guarantee and security is provided in the form of the charge of assets.
