The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K are pretty minimal.
Looking for more funding? Check out the conditions of eligibility for our $100K to $500K business loan.
All that’s required to get started is your contact information (the name of your company, your name, email, phone) as well as the amount you’d like to borrow, and your monthly earnings.
During the process and before settlement we will need confirmation of who you are, but not for starting:
Additionally after we get started when it comes to loans over $150,000 you will also need the following financial statements:
Let’s get started now.
Adelaide unsecured loans provides amounts of between $5,000 and $100,000 with terms between 3 and 24 months and cash flow friendly repayments, which are either daily or weekly.
Apply to this Small Business Loan in under 10 minutes on the phone. You’ll receive an instant response and the money could be available in just 24 hours. Traditional business loans have an interest rate per annum plus other fees and charges. This business loan is a loan that is priced upfront so you will be aware in advance of the total amount to be paid, including any interest, fees or charges. This is then broken down into a daily or weekly installment amount.
The Small Business Loan can be used for virtually every business need, such as cash flow management, business improvements, advertising, to purchase inventory or new equipment, as general working capital, and much more. The loan is not available for personal use.
The Larger Business Loan is a larger size loan to aid in business expansion opportunities. The loan ranges from $100,000 to $500,000 over a fixed term that can last up to 36 months. Repayments are weekly or fortnightly depending on your situation.
This Larger Business Loan has an Origination Fee, which is determined at 2.5 percent of the amount of the loan.
In order to be eligible for a loan that is this large, your business needs to be trading for at least 3 years, and have an annual income of $700K. You must be a New Zealand Citizen (or Permanent Resident) over 18 years or have a New Zealand company (with a valid NZBN/IRD) and be able to demonstrate at least 12 months of trading.
A large company loan can be used to fund almost any company reason, such as business renovations, to purchase equipment or inventory as well as for general working capital and much more. The loan is not available for personal use.
Asset security is needed for funding of more than $150,000. It’s by taking a charge against assets and can include registration with the PPSR or registering a caveat.
A director’s or personal guarantee is a commitment to pay off a credit line that is generally based rather than stating security over an asset. The person who signs the guarantee is personally responsible if the company creditor is unable to repay the debt.
The Personal Property Securities Register (PPSR) is an online, central register that is operated by the New Zealand Government. It reflects security interests which are registered with respect to personal property (including objects or assets). The PPSR gives preference over private property granted according to the date the registration of a security interest.
Caveats are legal document lodged to provide the legal claim to property.
If you’re applying for larger company loans that is greater than $250K we can offer an initial pre-approval that will help ease the process. We could be able to apply for this without a credit verification and within six hours of your initial application. This pre-approval is made based on an initial assessment that includes you answering a few financial well-being checks. It’s not an offer of credit or guarantee of finance. Unconditional approval is subject to an assessment of your creditworthiness and any offer that you may receive may have different conditions.
You may be eligible for a business loan if you:
The process for applying is fast and easy. Just complete the online application in just a few minutes, and a dedicated company credit specialist will contact you to assist you.
To apply for up to $100,000, you’ll need identification details (valid Driver’s License) and a valid NZBN/IRD and at least 6 months’ worth of bank statements.
If you’re looking for loans with larger sizes, you’ll also need:
$100K to $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if loan above $150K).
$250K – $500K: Details of the application, including credit consent twelve months of bank statements, IRD statement, last 2 years finalised financial statements, as well as interim financials from the current financial year, Aged Payables and Aged Receivables summary.
For an unsecured loan ($5K to $100K) we usually offer an answer in just one hour if you make your application within standard business timings and allow us to use the advanced bank verification system to immediately verify your bank account information online. If you choose to upload copies of your banking statement, we’ll provide a decision within 1 company day.
For Larger Business Loans ($100K to $500K) we may be in a position to provide you with a conditional pre-approval in about 6 hours. After you’ve signed the pre-approval form, it will take around 2-3 days for final approval. However, this can be quicker based on the specifics of each application. Some offers have been approved within the space of 24 hours.
The quickest way to apply can be ensure you apply during normal company hours. Also, allow us to use our advance bank verification link to confirm your bank details online. If you upload duplicates of your banking accounts, it may take a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer within an hour – as long as you submit your request during standard business time and allow us to use the advanced bank verification system link to instantly verify your bank’s information online. If you opt to upload copies of your banking statement, we’ll provide an answer in as little as one business day.
If you are applying for Larger Business Loans ($100K and up) we might be in a position to offer you with conditional pre-approval within about six hours. Once you have signed the pre-approval, turnaround times are around 2-3 days for final approval. However, it could be faster based on the specifics of each application. Some agreements have been approved in just 24 hours.
The quickest method for you to apply is ensure you apply during normal business hours. Also, allow us to use our sophisticated bank verification link to verify your bank information online. If you upload the copies of bank statement, it can take a bit longer.
We provide loans that range from $5,000 and $500,000. When you make an application for a particular amount, we will consider a number of elements to determine your health of your business and the amount of repayments that your company can support. The amount you receive from the loan will be determined by the particular circumstances of your company.
If you apply for a specific amount we consider a variety of aspects to assess your health of the business and the level of payments your company is able to afford. The amount you receive from your loan will depend on the particulars of your business.
When you apply for one of our business financing, we’ll assess the risk profile for your company and offer you with a customised offer that includes the amount of loan, the term and the interest rates. This business loan is an upfront priced loan which means you know in advance the total amount due, which includes any costs, fees, or interest rates.
Business loan interest rates differ based on various factors including the amount of money borrowed, the business assets the money are used to purchase and the sector the business operates in, the long the business has been in operation for, in the event that the business has enough cash flow to fund the loan, and the general well-being or creditworthiness of the company.
There aren’t any hidden charges with our business loans. You’ll know exactly how much you be required to pay and when, right from the first day. There’s no compounding interest and the loan comes with no additional fees (as long as you make your payments on time).
We do not charge an application fee. You can apply for a loan with with no upfront cost or commitment to apply.
The Origination Fee covers the expenses involved with establishing and managing the loan. It is only charged for this fee if you proceed with the loan. Our Origination Fee is 2.5 percent of the loan amount.
You can repay the entire amount of the loan early at any time.
If you do decide to take this route, please call our helpful business lending specialists. They’ll provide you with the details of your repayment and an early payment figure. This is calculated as the total of the principal balance and the accrued interest up to the time of early payment, plus 1.5 percent of the principal balance and any fees that remain unpaid.
To make sure that you don’t miss payments and to work your cash flow cycle we provide repayments either weekly or daily. They are automatically deducted from your designated company account.
Making sure that your information is secure, and knowing how we collect information, use it, and exchange it, as well as protect your information, is of paramount importance and an integral aspect of our relationship with you.
Yes. We make use of industry-standard encryption protocols to safeguard your personal, sensitive and financial data and our funders are ISO 27001 certified for our dedication to the security of our clients as well as their privacy. We use an advanced bank verification system that allows you to immediately confirm your bank account information online so we can offer quick responses.
The term "asset-based" refers to borrowing where a company owner makes use of an asset that they own to secure a loan. The asset could be a personal asset like the family home or a company asset such as a vehicle or other piece of machinery.
The majority of lending institutions, including the major banks, prefer to make loans secured by an asset. If you have trouble paying back the loan, your asset may be offered for sale by the lender. In essence it is a way of securing new financing by making use of the value of what you already have.
For loans of up to $150,000, it is not necessary to secure assets before you can access the money but we do require an individual guarantee. If you adhere to the loan terms (as stated in the loan contract), asset security is not needed. For loans that exceed $150,000, generally there is the option of a personal guarantee and security is provided in the form of the charge of assets.
