The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Need more funds? Check out the guidelines for eligibility for our $100K to $500K business loan.
All that’s required for starting is your contact details (the name of your company, your name, email, phone) and the amount you’d like to borrow, and your monthly income.
While in the process and before settlement we’ll require confirmation of who you are but not before we can begin:
After we start in the process, for loans over $150,000 you’ll also need basic financial statements:
Let’s get started.
Adelaide unsecured loans offers amounts between $5,000 and $100,000 with terms between 3 and 24 month and cash flow-friendly repayments that are either daily or weekly.
You can apply to get this Small Business Loan in under 10 minutes online or on the phone. You’ll receive an immediate response, and have the funds in your account in 24 hours. Traditional company loans have an annual interest rate as well as other fees and charges. This company loan is a pre-paid loan and you’ll know ahead of time the total amount payable including any interest, fees or charges. This is then broken down into weekly or daily amount to be paid back.
It is a Small Business Loan can be used to fulfill almost every business need, such as the management of cash flow, company remodeling, marketing to purchase inventory or new equipment, as general working capital and so much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in company growth opportunities. Loans are between $100,000 and $500,000 over a fixed term for 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 calculated at 2.5% of the amount of the loan.
To qualify for a loan in this amount the business needs to be trading for at least 3 years and have an annual turnover of $700K. You must be a New Zealand Citizen (or Permanent Resident) at least 18 years old, own a New Zealand business (with a valid NZBN/IRD) and be able of proving at least 12 months of trading.
A large company loan is a great option for almost every business reason, such as company renovations, purchase of inventory or new equipment, as general working capital and so much more. The loan cannot be used for personal purposes.
Asset security is required for funding of more than $150,000. It’s as a result of an charge against assets, and could include registering this with the PPSR or filing a caveat.
A personal or director’s ensure is a commitment to pay back a loan that is general in nature rather than specifying security over a particular asset. The person signing the guarantee is personally liable if the company lender is not able to make the repayment.
The Personal Property Securities Register (PPSR) is an online central registry run by the New Zealand Government. It lists security interests that are that are registered for personal property (including goods or assets). The PPSR grants priority over personal property to be granted in accordance with the date on which a security interest was registered.
Caveats are legal document lodged to offer an official notice of a claim on a property.
When you’re applying for the Larger Business Loan of $250K or more it’s possible to offer a preliminary pre-approval to help ease the process. We may be able to apply for this without a credit check, and within 6 hours of your initial application. The pre-approval is based upon a preliminary assessment which includes answering a couple of financial well-being questions. It’s neither an offer nor a guarantee of credit. Unconditional approval is subject to an exhaustive credit evaluation, and any offer you receive could be subject to different terms.
You can apply for an business loan if you:
The application process is quick and simple. Just fill out the online application within a couple minutes, and an experienced company lending specialist will be in touch to help you.
For a loan of up to $100,000 you’ll need identification details (valid Driver’s Licence), a valid NZBN/IRD as well as at least 6 months’ worth of bank statements.
Otherwise, for larger loan sizes, you’ll need:
$100K to $250K: Application details including credit consent, 6 – 12 months of bank statements, IRD statement (if loan above $150K).
$250K-$500K: Application details including credit consent as well as 12 months bank statement, an IRD statements Last 2 years’ finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables reports.
For an unsecured loan ($5K or more) we usually offer an answer in just one hour – as long as you submit your request at quality business timings and you allow us to use the advanced bank verification system to instantly verify your bank information online. If you opt to submit copies of your bank statements , we are able to offer an answer in just one company day.
For the Larger Business Loan ($100K or more) we may be in a position to provide you with conditional pre-approval in around six hours. After 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 specifics of each application. Certain transactions have received approval in the space of 24 hours.
The quickest way to apply would be to ensure you apply during standard company hours. Also, allow us to use the advanced bank verification system to instantly confirm your bank details online. If you opt to send us duplicates of your banking statement, it will take a little longer.
For the Small Business Loan ($5K to $100K) we usually provide a response in one hour – as long as you submit your request within normal business timings and let us utilise the advanced bank verification system to instantly verify your bank’s information online. If you choose to send us copies of your bank statements, we’ll be able to offer a decision within 1 business day.
If you are applying for Larger Business Loans ($100K and up) we might be in a position to provide you with a conditional pre-approval within about 6 hours. After you’ve signed the pre-approval document, you will need to wait approximately 2-3 days to receive final approval, however this may be quicker depending on the specifics of each application. Some transactions have received approval within 24 hours.
The fastest method for you to apply is make sure you apply during normal business hours, and let us use the sophisticated bank verification link to instantly confirm your bank details online. If you decide to upload the copies of bank statements it will take a little longer.
We offer loans that range from $5,000 and $500,000. If you apply for a certain amount we look at a variety of factors to determine how much we can lend you well-being for your business and the extent of repayments that your business can support. The amount you receive from your loan will be contingent on the particular circumstances the business.
When you make an application for a particular amount, we will consider a number of elements to assess how much we can lend you such as health of your business and the level of repayments your business will be able to support. The amount you receive from the loan will be determined by the particulars of your business.
When you request business loans with us business loans, we’ll assess the risk assessment for your company and provide you with a tailored offer including the amount of loan, the term and interest rates. A company loan is a loan that is priced upfront so you will know the exact amount payable including any charges or interest.
The interest rates on business loans rates depend on several factors like the amount of money of money borrowed, the business assets the money are used to purchase, the industry the company operates in, how long the company has been running, whether the company has enough cash flow to support the loan, and overall health or creditworthiness of the business.
There aren’t any hidden costs for our business loans, and you’ll know exactly how much it is that you be required to pay and at what time, from day one. There’s no compounding interest and the loan comes with no additional fees (as as you make your payments punctually).
We don’t charge an application fee. You can get a cash loan with no upfront cost or any obligation to sign up.
The Origination Fee covers the expenses involved with setting up and managing the loan. You are only charged this fee if you proceed with the loan. The Origination Fee for us is 2.5 percent of the amount of loan.
You can choose to repay the total amount of your loan at any point in time.
If you are deciding to do this please contact our helpful business lending experts. We will provide you with repayment details and an early payout figure. This will be calculated as the total of the remaining principal amount and accrued interest to the time of early payout and 1.5 percent of the principal amount remaining plus any outstanding fees.
To help you avoid missing repayments and to fit in with your cash flow cycle we offer repayments either weekly or daily. These are automatically withdrawn from your designated business account.
Protecting your information, and making it clear the ways we gather data, process, exchange and secure your information, is of paramount importance and a vital part of our relationship you.
Yes. We make use of industry-standard encryption standards to secure your personal, sensitive financial and other data. Our funders are ISO 27001 qualified for our commitment to security for our clients and privacy. We make use of an advanced bank verification system that allows you to immediately verify the bank account details online, allowing us to offer rapid response.
Asset-based borrowing occurs when a business owner uses the assets they have to secure a loan. The asset can be either an asset belonging to the personal, like the family home, or it could be a business property like a truck or other piece of machinery.
The majority of banks, not just the major banks, prefer to secure loans against assets. If you are having difficulty paying back the loan, then the asset could be transferred to the lender. In essence it is the process of securing additional financing taking advantage of the value of what you already own.
For loans up to $150K it is not necessary to secure assets prior to the loan’s access but we do need the personal guarantee. As long as you follow the loan terms (as stipulated in the loan contract) Asset security will never be needed. For loans of over $150K generally, you are able to get personal ensure and security that is in the form a charge over assets.
