The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Need more funds? Find out the guidelines for eligibility for our $100K-$500K business credit.
All that is needed for starting is your contact information (the name of your company, your name, email, phone) along with the amount you’d like to borrow, and your monthly revenue.
While in the process and before settlement we’ll require confirmation of who you are but not for starting:
After we start in the process, for loans that exceed $150,000, you’ll also require basic financial statements.
Let’s get started now.
Adelaide unsecured loans offers 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.
It is possible to apply to get this Small Business Loan in under 10 minutes on 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 rate of interest along with other charges and fees. Our business loan is a pre-paid loan therefore you’ll know ahead of time the total amount to be paid, including the interest, fees and charges. Then, it is divided into a daily or weekly amount to be paid back.
It is a Small Business Loan can be used to fulfill almost any company use, including cash flow management, business remodels and marketing for purchasing inventory or new equipment, for general working capital and much more. The loan is not available for personal use.
The Larger Business Loan is a larger loan size to support business expansion opportunities. Loans are between $100,000 and $500,000 with a term fixed with a maximum of 36 months. Repayments are weekly or fortnightly, depending on the flow of cash.
This Larger Business Loan has an Origination Fee, which is determined at 2.5% of the amount of the loan.
In order to be eligible for a loan in this amount the company needs to have been operating for at least three years and generate an annual revenue of at least $700,000. The applicant must also 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 to prove at least 12 months of trading.
A larger business loan is a great option for almost every company reason, such as company renovations, to purchase inventory or new equipment or as general working capital and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary to obtain funding above $150,000. This can be done as a result of an charge against assets, which could also include registering this through the PPSR or making as a caveat.
A director’s or personal guarantee is a promise to repay credit that is general in nature, rather than stating the security of a specific asset. The person who is signing the guarantee is personally responsible if the business lender is not able to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central registry run by the New Zealand Government. It records security interests that have been registered in respect of personal property (including objects or assets). The PPSR allows preference over private property granted in accordance with the date on which a registration of a security interest.
Caveats are legal document that is filed to provide the legal claim to property.
If you’re seeking 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 get this done without credit checks and within 6 hours of your initial application. This pre-approval is made based on an initial assessment, which involves answering a couple of financial health questions. This is not an offer or guarantee of funds. The approval of a conditional loan is subject to a full credit assessment and any offer you may receive may be based on different conditions.
You are eligible to apply for an business loan if you;
The application process is quick and simple. Simply complete the online form in few minutes and a dedicated business loan specialist will call you to help you.
To apply for up $100,000 you’ll need the right identification documents (valid Driver’s License), a valid NZBN/IRD and at least six months worth of bank statements.
For larger loan sizes, you’ll also need:
$100K – $250K: Application requirements, including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Details of the application, including credit consent twelve month bank accounts, the IRD statements Last 2 years’ finalised financial statements, plus interim current financial year financials such as age-related payables and aged Receivables reports.
For an unsecured loan ($5K up to $100,000) we typically provide an answer within one hour if you submit your request at quality business times and allow us to utilise the bank verification system link to instantly verify your bank’s information online. If you choose to upload copies of your banking statement, we’ll provide an answer within the span of one company day.
For the Larger Business Loan ($100K and up) we may be in a position to provide you with pre-approval conditional to your application in about six hours. After you’ve signed the pre-approval, the turnaround time is between 2 and 3 days for the final approval, however this can be quicker based upon the circumstances for each application. Certain deals have been approved in less than 24 hours.
The fastest way for you to apply is ensure you apply during normal company hours. Also, permit us to use the advanced bank verification system link to verify your bank information online. If you choose to upload documents from your account statements , it will take a little longer.
For the Small Business Loan ($5K and up) we usually provide an answer within an hour if you apply in standard business time and allow us to use the bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statements we can offer an answer within 1 business day.
If you are applying for Larger Business Loans ($100K or more) we might be capable of offer the conditional pre-approval within six hours. Once you have signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval. However, this could be shorter based on the specifics of each application. Certain transactions have received approval within the space of 24 hours.
The fastest way is to ensure you apply during normal business hours. You can also let us use the modern bank verification link to verify your bank information online. If you upload copies of your bank accounts, it takes a bit longer.
We offer the loan amount between $5,000 and $500,000. If you apply for a certain amount we take into consideration a range of factors in order to assess how much we can lend you health of the business and the extent of repayments that your company is able to afford. The total amount of your loan will depend on the particular circumstances of your business.
If you apply for a specific amount we look at a range of factors to assess how much we can lend you such as health of your business and the amount of repayments your company will be able to support. The total amount of your loan will depend on the specific circumstances that are unique to your company.
When you request business loans with us company loan, we’ll assess the risk profile for your company and provide you with a tailored proposal that includes the amount of the loan, the duration and interest rates. The company loan is an upfront priced loan therefore you will know the exact amount payable including any charges, interest rates or fees.
Business loan interest rates differ based on various factors such as the amount that is that is borrowed, what business assets the money will be used for, the industry the company operates in, the long the business is in operation and how long the business has sufficient cash flow to support the loan, as well as the general well-being as well as creditworthiness business.
There aren’t any hidden costs with our business loans. You’ll be aware of the amount you’ll need to pay, and when, from day one. There’s no compounding interest and there are no additional charges (as as you make your payments in time).
We don’t charge an Application Fee. You are able to get a cash loan no cost upfront or any obligation to sign up.
The Origination Fee is the cost associated with setting up and managing the loan. You are only charged this fee if you choose to proceed with the loan. Our Origination Fee is 2.5% of the amount of loan.
You can decide to repay the total amount of your loan early at any time.
If you are deciding to take this route, please talk to one of our helpful company loan specialists. They’ll provide you with details for repayment along with an early payout estimate. This is calculated as the sum of the principal balance and any accrued interest at the time of early payment and 1.5 percent of the principal remaining plus any outstanding fees.
In order to help you avoid missing payments and to work your cash flow schedule, we provide payments that are either daily or weekly. These are automatically withdrawn from your nominated business account.
Protecting your information, and making it clear the ways we gather the information we collect, use, share and safeguard your data, is of paramount importance and is an essential part of our relationship you.
Yes. We employ industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 certified for our commitment to security for our clients and privacy. We use an advanced bank verification system to immediately verify the bank account details online so we can offer a fast response.
The term "asset-based" refers to borrowing where a company owner borrows from an asset they own to make the funds for a loan. The asset can be either a personal asset like the family home, or a business asset such as a truck as well as a piece of machine.
The vast majority of banks, including the banks with the biggest size, prefer to secure loans against an asset. If you have trouble paying back the loan then your asset may be offered for sale by the lender. In essence, it is an opportunity to secure new financing making use of the value of what you already own.
For loans up to $150K it is not necessary to secure assets in advance to gain access to the funds however, we do require an individual guarantee. In the event that you fulfill the terms of your loan (as stipulated in the loan contract), asset security will never be needed. For loans of over $150,000 generally there is the option of a personal ensure and security in the form of charges on assets.
