The criteria for eligibility for an unsecured business loan in Adelaide of between $5K to $100K are quite minimal.
Are you looking for additional funding? Find out the conditions of eligibility for our $100K to $500K company financing.
All that’s required to get started is your contact details (company name, your name, email or phone number) and the amount you’d like to lend, and your monthly earnings.
While in the process and before settlement we’ll require confirmation of who you are but not before we can begin:
After we start with 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. Terms range from 3 and 24 month and cash flow friendly repayments that are either per day or weekly.
The application to your Small Business Loan in under 10 minutes on the phone. You’ll receive an immediate response, and funds may be in your account within 24 hours. Traditional business loans are based on an annual interest rate plus other fees and charges. Our business loan is an upfront priced loan which means you be aware of the total amount payable including any fees, interest or charges. Then, it is broken down into either weekly or daily repayment figure.
A Small Business Loan can be used for nearly every company need, such as cash flow management, business improvements, advertising for purchasing inventory or new equipment, for general working capital, and much more. The loan is not available to fund personal expenses.
The Larger Business Loan is a larger amount of loan to help business growth opportunities. Loans range between $100,000 and $500,000 over a fixed term up to 36 months. Repayments are weekly or fortnightly to work with you cashflow.
A Larger Business Loan has an Origination Fee which is determined at 2.5% of the loan amount.
To be eligible for a credit of this size, your business needs to have been trading for at least 3 years and have an annual turnover of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) over 18 years and have a New Zealand business (with a valid NZBN/IRD) and be able of proving at the least 12 months of operating.
A large company loan can be used for almost all company purpose including company improvements, purchasing inventory or new equipment or as general working capital and much more. The loan is not available for personal use.
Asset security is needed to obtain funding above $150,000. It is usually by taking a charge against assets, and could be registered with the PPSR or making a caveat.
A personal or director’s ensure is a guarantee to repay credit that is general in nature rather than specifying the security of a specific asset. The person who is signing the ensure is personally responsible if the business lender is not able to pay back the debt.
The Personal Property Securities Register (PPSR) is an online, central register run by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including objects or assets). The PPSR permits prioritisation over property that is personal to be granted according to the date the security interest has been registered.
The caveat can be described as a formal document that is filed to offer the public notice of a legal claim against a property.
If you’re seeking a Larger Business Loan of more than $250K, we may offer an initial pre-approval in order to ease the process. We could be able to get this done without a credit check, and within 6 hours of your initial application. This pre-approval is based on an initial evaluation that involves the answer to a series of financial well-being checks. It’s not an offer or guarantee of finance. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you might receive could be on different conditions.
You are eligible to apply for an business loan if you:
The application process is fast and easy. Complete the online form in few minutes and an experienced business expert in lending will contact you to help you.
To apply for up to $100,000 you’ll need proof of identity (valid Driver’s License), an active NZBN/IRD, and at least six months worth of bank statements.
For larger loan sizes, you’ll need:
$100K – $250K: Application details including credit consent, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details for application including credit consent and 12 months of bank statements, IRD statement Last 2 years’ finalised financial statements, in addition to interim financials for the current financial year, Aged Payables and Aged Receivables summaries.
For an unsecured loan ($5K or more) we typically offer an answer within one hour – as long as you make your application during quality business time and permit us to utilise the bank verification system to immediately verify your bank account information online. If you opt to upload copies of your bank statement, we’ll provide an answer in as little as 1 company day.
For the Larger Business Loan ($100K or more) we may be capable of offer you with a conditional pre-approval in about 6 hours. After you’ve signed your pre-approval document, you will need to wait about 2-3 days for final approval. However, this may be quicker depending on the circumstances of each application. Certain deals have been approved in the space of 24 hours.
The most effective method would be to ensure you apply during standard company hours. Also, let us use the advanced bank verification system to confirm your bank details online. If you choose to send us copies of your bank statements it may take a bit longer.
For the Small Business Loan ($5K and up) we usually offer an answer within one hour – as long as you apply at standard business hours and permit us to utilise the advanced bank verification system to instantly verify your bank’s information online. If you want to upload copies of your bank statements, we’ll be able to offer a decision in just the span of one business day.
If you are applying for Larger Business Loans ($100K up to $500,000) we could be able to provide you with a conditional pre-approval within 6 hours. After you’ve signed the pre-approval document, you will need to wait about 2-3 days for final approval. However, this could be shorter based on the circumstances of each application. Some transactions have received approval in 24 hours.
The quickest method is to ensure you apply during standard business hours, and allow us to use our advanced bank verification system to verify your bank information online. If you send us documents from your account statements it can take a bit longer.
We provide loan amounts between $5,000 and $500,000. If you apply for a particular amount, we look at a variety of variables for determining what is the well-being of your company as well as the amount of repayments your company is able to afford. The amount you receive from the loan will be determined by the specific circumstances of your company.
When you submit an application for a specific amount we look at a range of variables to assess how much we can lend you such as well-being of your business and the extent of repayments your business will be able to support. The amount you receive from your loan will be contingent on the specifics the business.
If you decide to request the business financing, we’ll assess the risk assessment of your business and offer you with a customised offer including loan amount, term and interest rates. It is a company loan is an upfront cost loan and you’ll know in advance the total amount you will have to pay, including charges or interest.
Business loan interest rates depend on several factors including the amount borrowed, what company assets the funds are used to purchase in addition to the industry that the company is operating in, how long the company has been running as well as in the event that the business has enough cash flow to pay for the loan, and the general health and creditworthiness of the company.
There aren’t any hidden costs for our business loans. You’ll know exactly how much it is that you be required to pay and when, right from day one. There’s no compounding and there are no additional charges (as as you make your payments on time).
We don’t charge an Application Fee. You can make an application for loans no cost upfront or any obligation to sign up.
The Origination Fee covers the expenses involved with the setting up and management of the loan. This is only a fee if you decide to take the loan. Our Origination Fee is 2.5% of the loan amount.
You may choose to pay back the entire amount of the advance loan at any time.
If you decide to take this route, please talk to one of our helpful business loan experts. They’ll offer you with the details of your repayment and an early payout figure. It will be calculated using the sum of the remaining principal amount and the accrued interest up to the time of the early payout and 1.5 percent of the principal remaining and any fees that remain unpaid.
To help you avoid missing repayments and to fit in with your cash flow general, we offer repayments either daily or weekly. They will be automatically deducted from your designated business account.
Protecting your information, and being transparent about how we collect data, process, exchange and protect your information, is of huge importance and is an essential part of our relationship with you.
Yes. We use 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 employ an exceptionally sophisticated bank verification system to immediately confirm your bank account information online, allowing us to provide a fast response.
Asset-based borrowing occurs when the company owner utilises an asset they own to get the funding. The asset can be either an individual asset, such as the family home or it could be a company asset such as a truck or piece of equipment.
The 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 the asset might be sold by the lender. In essence it’s a way of securing new financing using the value of what you already have.
For loans that exceed $150K, there is no requirement for asset security prior to the loan’s access, however we require a personal guarantee. need a personal guarantee. In the event that you fulfill your loan commitments (as specified in the loan contract) Asset security will never be needed. If you take out loans in excess of $150K generally, there is an individual guarantee and security in the form of a charge over assets.
