The eligibility requirements for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Are you looking for additional funding? Check out the guidelines for eligibility for our $100K-$500K business loans.
All that’s needed to begin is your contact information (the name of your company, your name, email or phone number) along with the amount you’d like to lend, and your monthly revenue.
During the process and before settlement we’ll require confirmation of who you are but not to get started:
In addition, once we have started, for loans over $150,000 you will also require the following financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments that are either per day or weekly.
It is possible to apply to your Small Business Loan in under 10 minutes online or over the phone, receive an answer within the same day and have the funds on your account within 24 hours. Traditional company loans reference an interest rate per annum as well as other fees and charges. Our company loan is a cash-based loan and you’ll be aware of the amount you will have to pay, including any fees, interest or charges. Then, it is broken down into a daily or weekly installment amount.
The Small Business Loan can be used for almost every business use, including managing cash flows, company remodels and marketing to purchase inventory, new equipment, to fund 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. Loans are between $100,000 and $500,000 with a term fixed up to 36 months. Repayments are either weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percentage of the amount of the loan.
In order to be eligible for a loan that is this large the company needs to be operating for at least three years and have an annual turnover of $700,000. Your business must belong to a New Zealand Citizen (or Permanent Resident) at least 18 years old and have a New Zealand company (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of business.
A Business Loan of a larger size can be used to fund almost every company use, including business renovations, purchase of new equipment or inventory or as general working capital and much more. The loan cannot be used for personal use.
Asset security is required for accessing funds over $150,000. This is by way of charge over assets, and could include registration through the PPSR or registering as a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is general in nature rather than stating security over an asset. The person who is signing the guarantee is personally liable in the event that the business borrower is unable to make the repayment.
The Personal Property Securities Register (PPSR) is an online, central register 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 gives the priority of personal property granted in accordance with the date on which a security interest was registered.
An affidavit is an official form of document to offer notice of a legal claim on a property.
If you’re requesting a Larger Business Loan that is greater than $250,000 we can offer an initial pre-approval in order to simplify the process. We could be able to make this decision without a credit check, 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. This is not an offer of credit or guarantee of credit. 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 a dedicated business lending specialist will call you to help you.
To be eligible for up to $100,000 you’ll need ID details (valid Driver’s License) along with an active NZBN/IRD, and at least six months of bank statements.
Otherwise, for larger loan sizes, you’ll require:
$100K – $250K: Application requirements, including credit consent, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K-$500K: Information on the application including credit consent twelve months of bank records, IRD statement Last 2 years’ finalised financial statements, plus interim financial statements for the current year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K to $100K) we usually offer an answer within an hour, provided you submit your request during standard business time and permit us to utilise the bank verification system link to instantly verify your bank details online. If you decide to upload copies of your banking statements we can provide the decision within an company day.
For the Larger Business Loan ($100K to $500K) we could be able to offer you with pre-approval conditional to your application in around six hours. Once you have signed the pre-approval document, you will need to wait about 2-3 days for final approval, however this may be quicker depending on the specifics of each application. Some deals have been approved in just 24 hours.
The most efficient method for you to apply is make sure you apply during normal company hours. You can also allow us to use the modern bank verification link to confirm your bank details online. If you choose to upload documents from your account statement, it can take a bit longer.
For the Small Business Loan ($5K up to $100,000) we can often offer an answer in just one hour – as long as you make your application during standard business hours and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you want to send us copies of your bank statements, we are able to offer the decision in just 1 business day.
If you are applying for Larger Business Loans ($100K to $500K) we may be in a position to provide you with pre-approval conditional to your application in about six hours. Once you’ve signed your pre-approval, turnaround times are around 2-3 days for final approval. However, it could be faster based on the circumstances of each application. Some offers have been approved within the space of 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours and allow us to use the advanced bank verification system link to instantly verify your bank information online. If you choose to upload duplicates of your banking statement, it may take a bit longer.
We offer the loan amount between $5,000 to $500,000. If you apply for a particular amount, we look at a variety of factors to determine the well-being for your business and the level of payments your business can support. The total amount of the loan will be determined by the particular circumstances for your business.
When you apply for a certain amount, we will consider a number of factors to assess how much we can lend you such as well-being of the company and the amount of the repayments your company can afford. The amount you receive from your loan will depend on the particulars for your business.
When you request business loans with us business credit, we will assess the risk profile for your business and offer you with a tailored offer, including loan amount, term and interest rates. This company loan is an upfront cost loan and you’ll be aware in advance of the total amount payable including any interest rates, fees or charges.
Business loan interest rates depend on a variety of variables like the amount to be borrowed, the company assets the funds will be used for in addition to the industry that the business operates in, the long the business has been running for, how long the company has enough cash flow to cover the loan, as well as the general health or creditworthiness of the business.
There are no hidden fees for our business loans, and you’ll know precisely how much you’ll need to pay and when, from the day you sign up. There’s not any compounding interest and no additional fees (as long as you are able to make your payments on time).
We do not charge an Application Fee. You can apply for a loan absolutely no upfront cost and no commitment to apply.
The Origination Fee includes the expenses associated in establishing and managing the loan. This is only a fee if you decide to take the loan. The Origination Fee for us is 2.5% of the loan amount.
You can decide to repay all of your loan early at any time.
If you are deciding to do this please call our helpful business lending experts. They’ll provide you with details for repayment as well as an early payout amount. This is calculated as the total of the principal amount remaining and accrued interest to the time of early payment, plus 1.5% of the principal amount remaining plus any outstanding fees.
To help you avoid missing payments and to work your cash flow cycle we offer repayments that are either weekly or daily. These are automatically deducted from your designated business account.
The security of your personal information, as well as knowing the ways we gather the information we collect, use, share and protect your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We use industry recognised encryption standards to protect your sensitive, personal financial information and our funders are ISO 27001 certified for our dedication to protecting the security of clients and security. We use an advanced bank verification system that allows you to instantly verify your bank account information online to offer rapid response.
The term "asset-based" refers to borrowing where a business owner uses an asset that they own to make the funding. The asset could be an asset belonging to the personal, like the family home or a company asset such as a vehicle or piece or equipment.
The vast majority of banks, including the banks with the biggest size, prefer to make loans secured by an asset. If you’re struggling to pay back the loan then your asset may be transferred to the lender. In essence it is means of securing new financing making use of the value of what you already own.
For loans that exceed $150,000, no asset security is required before you are able to access the money, however we do need an individual guarantee. So long as you comply with the terms of your loan (as stated in the loan contract) and you are able to meet your obligations, asset security is not needed. For loans that exceed $150,000, generally, there is the option of a personal ensure and security is provided in the form of a charge over assets.
