The criteria for eligibility for an unsecured business loan in Adelaide of between $5K and $100K is fairly low.
Are you looking for additional funding? Take a look at the eligibility requirements for our $100K-$500K company loan.
All that is needed to get started is your contact details (company name, your name, email address and telephone) and the amount you want to borrow, and your monthly revenue.
During the process and before settlement we will require confirmation of who you are, but not for starting:
In addition, once we have started with loans over $150,000 you will also need basic financial statements.
Let’s get started.
Adelaide unsecured loans offers the range of $5,000 to $100,000. Terms range from 3 and 24 months and cash flow-friendly repayments that are either daily or weekly.
Apply to this Small Business Loan in under 10 minutes via the internet or over the phone. You’ll get an immediate response, and funds may be available in just 24 hours. Traditional business loans refer to an annual rate of interest plus other fees and charges. Our company loan is a cash-based loan which means you know ahead of time the total amount due, which includes the interest, fees and charges. Then, it is divided into a daily or weekly repayment figure.
The Small Business Loan can be used for virtually any business need, such as the management of cash flow, company improvements, advertising, to purchase inventory or new equipment, to fund general working capital and so much more. The loan cannot be used for personal use.
The Larger Business Loan is a larger size loan to aid in company expansion opportunities. The loan ranges from $100,000 to $500,000 with a fixed-term with a maximum of 36 months. Repayments are weekly or fortnightly to work with the flow of cash.
This Larger Business Loan has an Origination Fee that is calculated at 2.5 percent of the loan amount.
To be eligible for a credit of this size, your company needs to be in operation for at least 3 years, and have an annual income of $700K. The applicant must also be a New Zealand Citizen (or Permanent Resident) who is over the age of 18, own a New Zealand company (with a valid NZBN/IRD) and be able to prove at minimum 12 months of business.
A large company loan can be used for nearly all business need, including business improvements, purchasing new equipment or inventory for general working capital and so much more. The loan cannot be used to fund personal expenses.
Asset security is needed to obtain funding above $150,000. This is 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 promise to repay a loan which is generally based rather than stating the security of a specific asset. The person signing the ensure is personally accountable if the company borrower is unable to re-pay 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 that are registered for personal property (including the assets or goods). The PPSR gives the priority of personal property assigned in accordance with the date on which a registration of a security interest.
A caveat is a legal document that is filed to provide the legal claim on a property.
When you’re applying for an enterprise loan of $250,000 or more we can offer an initial pre-approval in order to simplify the process. It is possible to do this without a credit check and within 6 hours of the initial application. This pre-approval is made based on an initial assessment that includes you answering some financial health checks. It is not an offer of credit or guarantee of finance. Unconditional approval is subject to an assessment of your creditworthiness and any offer you might receive could be on different conditions.
You can apply for an business loan if you
The application process is simple and easy. Just complete the online application in few minutes and a dedicated business loan specialist will call you to help you.
To apply for up to $100,000 you’ll require proof of identity (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 need:
$100K to $250K: Application requirements, including credit approval, 6-12 months of IRD statements, bank statements (if credit is over $150K).
$250K – $500K: Details for application including credit consent and 12 months of bank statements, IRD statements as well as the two most recent years’ financial statements, and interim financials for the current financial year as well as Aged Payables and Receivables summaries.
For an unsecured loan ($5K to $100K) we usually provide a response in one hour, provided you submit your request within quality business time and you allow us to utilise the advanced bank verification system to immediately verify your bank account information online. If you want to upload copies of your banking statements , we will be able to offer the decision in as little as 1 business day.
For the Larger Business Loan ($100K or more) we may be able to offer you with a conditional pre-approval in around six hours. Once you’ve signed the pre-approval, the turnaround time is approximately 2-3 days to receive final approval, however this may be quicker depending on the specifics of each application. Certain transactions have received approval within the space of 24 hours.
The quickest method would be to ensure you apply during standard business hours and let us use the advanced bank verification system link to verify your bank information online. If you choose to upload documents from your account statements , it may take a bit longer.
For the Small Business Loan ($5K or more) we usually offer an answer in just one hour – provided you make your application within standard business timings and you allow us to utilise the advanced bank verification system link to instantly verify your bank information online. If you choose to upload copies of your bank statement, we’ll offer a decision within an business day.
For Larger Business Loans ($100K up to $500,000) We may be able to provide you with a conditional pre-approval in about six hours. After you’ve signed the pre-approval document, you will need to wait between 2 and 3 days for the final approval, however this may be quicker depending upon the circumstances for each application. Some transactions have received approval 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 advance bank verification to verify your bank account information online. If you decide to upload duplicates of your banking statements it may take a bit longer.
We offer loans ranging from $5,000 to $500,000. When you make an application for a certain amount we look at a variety of factors to determine your health for your company and the level of repayments that your business can afford. The amount you receive from your loan will depend on the specifics the business.
When you make an application for a particular amount, we will consider a number of aspects to determine how much we can lend you such as well-being for your business and the extent of repayments your company is able to afford. The total amount of your loan will be contingent on the specifics that are unique to your company.
If you decide to request one of our business loans, we’ll assess the risk assessment for your company and provide you with a customised proposal that includes the amount of loan, the term and interest rates. The company loan is an upfront priced loan which means you know the exact amount to be paid, including any interest rates, fees or charges.
The interest rates on company loans rates differ based on various variables like the amount to be that is borrowed, what business assets the funds are used to purchase in addition to the industry that the business is in, how long the company has been operating, what percentage of the business has sufficient cash flow to cover the loan, and overall health as well as creditworthiness company.
There are no hidden costs for our company loans. You’ll be aware of the amount you’ll be required to pay and when, starting from the first day. There’s no compounding and the loan comes with no additional fees (as as you make your payments on time).
We do not charge an Application Fee. You can get a cash loan with no upfront cost or obligation to proceed.
The Origination Fee covers the costs associated with the setting up and management of the loan. You are only charged this cost if you take out the loan. The Origination Fee for us is 2.5% of the loan amount.
You may choose to pay back all of your loan at any point in time.
If you are deciding to do this please talk to one of our helpful company lending experts. The experts will provide you with details for repayment and an early payout figure. It will be calculated using the sum of the principal amount remaining and the accrued interest up to the time of early payout in addition to 1.5% of the principal amount remaining as well as any outstanding fees.
To ensure that you don’t miss payment dates and to align with your cash flow routine, we provide repayments either weekly or daily. These are automatically deducted from your company account.
Making sure that your information is secure, and knowing how we collect information, use it, and exchange it, as well as safeguard your data, is vital and is a crucial aspect of our relationship with you.
Yes. We utilise industry-recognised encryption standards to protect your sensitive, personal as well as financial data. Our funders are ISO 27001 qualified for our commitment to security for our customers and security. We make use of an advanced banking verification system to instantly verify the bank account details online. This allows us to provide a fast response.
The term "asset-based" refers to borrowing where an business owner utilises assets they own to make the loan. The asset can be an asset belonging to the personal, like the family home, or it could be a company asset such as a vehicle or other piece of machinery.
The majority of banks, even the largest banks, are inclined to guarantee loans against assets. If you are having difficulty paying back the loan, the asset could be taken over by the lender. In essence, it is means of securing additional financing taking advantage of the value of what you already own.
For loans up to $150K there is no requirement for asset security before you can access the money However, we require a personal guarantee. require the personal guarantee. In the event that you fulfill the loan terms (as specified in the loan contract) Asset security is not required. For loans of over $150,000 generally there is the option of a personal guarantee and security that is in the form the charge of assets.
