The requirements for obtaining an unsecured business loan in Adelaide of between $5K and $100K are fairly minimal.
Looking for more funding? Take a look at the guidelines for eligibility for our $100K-$500K company loans.
All you need to start is your contact information (company name and your name, as well as email and phone) and the amount you’d like to lend, as well as your monthly income.
During the process and before settlement we’ll require confirmation of your identity, but not to get started:
After we start in the process, for loans of more than $150,000 you will also require the following financial statements:
Let’s get started.
Adelaide unsecured loans provides amounts between $5,000 and $100,000, with terms ranging from 3 and 24 months and cash flow-friendly repayments which can be made daily or weekly.
Apply to this Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get a same day response and funds may be in your account in 24 hours. Traditional company loans reference an annual rate of interest plus other fees and charges. This business loan is a pre-paid loan therefore you’ll be aware of the total amount due, which includes any fees, interest or charges. This is then divided into weekly or daily amount to be paid back.
The Small Business Loan can be used for virtually every business purpose including the management of cash flow, business renovations, marketing, to purchase inventory or new equipment, for 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 company expansion opportunities. Loans range between $100,000 and $500,000 over a fixed term that can last up to 36 months. Repayments are scheduled weekly or fortnightly to work with you cashflow.
A Larger Business Loan has an Origination Fee, which is calculated at 2.5% of the loan amount.
In order to be eligible for a loan that is this large the business needs to be trading for at least 3 years and have an annual turnover of $700,000. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18 and have a New Zealand business (with a valid NZBN/IRD) and be able demonstrate at minimum 12 months of continuous trading.
A Business Loan of a larger size is a great option for almost any business purpose including company improvements, purchasing new equipment or inventory or as general working capital, and much more. The loan cannot be used to fund personal expenses.
Asset security is necessary for accessing funds over $150,000. This can be done as a result of an charge against assets, which could also include the registration of this through the PPSR or the registration of a caveat.
A personal or director’s guarantee is a commitment to pay back a loan that is general in nature, rather than defining the security of a specific asset. The person who is signing the guarantee is personally liable in the event that the company lender is not able to make the repayment.
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 goods or assets). The PPSR grants preference over private property assigned depending on the date that a registration of a security interest.
Caveats are legal form of document to offer an official notice of a claim against a property.
If you’re applying for larger business loans of $250,000 or more it is possible to offer an initial pre-approval in order to simplify the process. We might be able to get this done without a credit verification and within six hours of your initial application. This pre-approval is made based on an initial assessment, which involves you answering a few financial health questions. It is not an offer or guarantee of finance. The approval of a conditional loan is subject to an exhaustive credit evaluation, and any offer you receive could be based on different terms.
You may be eligible for an company loan if you:
The application process is quick and simple. Complete the online form in few minutes and an experienced company lending specialist will be in touch to guide you.
To be eligible for up to $100,000, you’ll require the right identification documents (valid Driver’s Licence) along with an NZBN/IRD that is valid and at least six months of bank statements.
In addition, for larger loan sizes, you’ll also require:
$100K – $250K: Application details including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K to $500K: Details for application including credit consent and 12 months of bank records, IRD statements Last 2 years’ finalised financial statements, and interim financials from the current financial year, Aged Payables and Aged Receivables Summary.
For an unsecured loan ($5K to $100K) we typically provide a response in one hour, provided you submit your request during quality business timings and let us use the advanced bank verification system link to instantly verify your bank’s information online. If you decide to submit copies of your bank statements we can provide a decision in as little as an company day.
For Larger Business Loans ($100K and up) we could be in a position to provide you with conditional pre-approval within about 6 hours. After you’ve signed the pre-approval form, it will take about 2-3 days for final approval, however it could be faster based on the circumstances of each application. Certain deals have been approved in 24 hours.
The fastest way can be make sure you apply during normal company hours, and allow us to use our advanced bank verification system link to instantly check your bank’s information online. If you send us documents from your account statements it will take a little longer.
For the Small Business Loan ($5K and up) We can usually offer an answer within one hour – as long as you make your application within standard business hours and allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you opt to submit copies of your bank statement, we’ll offer a decision in as little as an business day.
If you are applying for Larger Business Loans ($100K to $500K) we could be capable of offer the conditional pre-approval in about six hours. Once you have signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval. However, it could be faster based on the specifics of each application. Some deals have been approved within 24 hours.
The fastest method can be ensure you apply during standard business hours. Also, let us use the sophisticated bank verification to instantly verify your bank account information online. If you choose to send us the copies of bank accounts, it can take a bit longer.
We provide the loan amount between $5,000 to $500,000. If you apply for a specific amount we consider a variety of aspects for determining how much we can lend you well-being of the company and the level of payments your company is able to afford. The total amount of the loan will be determined by the specific circumstances that are unique to your business.
When you apply for a set amount, we consider a variety of factors to assess the health for your company and the extent of the repayments your business can afford. The amount you receive from your loan will be determined by the particulars for your business.
When you request our company credit, we will assess the risk assessment the company and offer you with a customised offer that includes the loan amount, the terms and interest rates. A company loan is an upfront cost loan so you will know in advance the total amount to be paid, including any interest rates, fees or charges.
Interest rates for business loans rates depend on a variety of factors including the amount of money borrowed, the business assets the money are used to purchase in addition to the industry that the company operates in, the long the company is in operation for, what percentage of the company has enough cash flow to cover the loan, and overall well-being and creditworthiness of the business.
There are no hidden fees with our business loans. You’ll know precisely what you’ll be required to pay, and at what time, from the first day. There’s no compounding interest, and there are no additional charges (as long as you make your payments punctually).
We don’t charge an application fee. You are able to get a cash loan with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. It is only charged for this fee if you choose to proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can decide to repay the total amount of your loan at any point in time.
If you are deciding to do this please speak to our friendly company lending experts. They will offer you with details for repayment and an early payout figure. This will be calculated as the total of the principal remaining and accrued interest to the time of early payment plus 1.5 percent of the principal amount remaining plus any outstanding fees.
To help you avoid missing repayments and to fit in your cash flow schedule, we provide repayments either weekly or daily. These are automatically deducted from your company account.
Making sure that your information is secure, and being transparent about the ways we gather information, use it, and exchange it, as well as safeguard your data, is vital and an integral element of our relationship with you.
Yes. We employ industry-recognised encryption standards to protect your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our dedication to customer security and security. We make use of an advanced bank verification system that allows you to immediately verify your bank account details online so we can offer quick responses.
An asset-based loan is when a company owner makes use of an asset that they own to obtain a loan. The asset can be an individual property, such as the family home or a company asset such as a truck or other piece of machinery.
The majority of lending institutions, including the major banks, prefer to guarantee loans against assets. If you are having difficulty paying back the loan, the asset might be transferred to the lender. In essence, it’s the process of securing new funding making use of the value of what you already own.
For loans that exceed $150K, there is no requirement for asset security prior to the loan’s access however, we do require the personal guarantee. If you adhere to the terms of your loan (as stated in your loan contract document), asset security is not needed. For loans that exceed $150K, generally, you can get an individual guarantee and security in the form an asset charge.
